BPI Industries Ltd (BPR-VSE) Message Board

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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE)

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To: Spiney who wrote (197)	1/17/1999 5:42:00 PM
From: Francis R. Biscan Jr.	Read Replies (1) of 355

Hi Spiney & G.T. >>The combined gas-in-place resource for the project is calculated at 257 BCF (billion cubic feet).<< From what I understand, this 257 BCF is worth about 257 million U.S. If true, that means that BPR's 41% should be worth about 105 million or $7.50 U.S. A very encouraging comment in the NR was "It should be noted that if the gas per unit area is similar in the whole 44,000 acres, then these figures would be increased by a factor of ten." >>BPI in talks to finance 76 development wells. Congrats to all who hung in myself included.<< It has been a very long wait. Honestly, longer then it should have been. The results are obviously very positive, but lets hope the next step is completed in a more timely fashion. Also, with regards to financing the company has previously announced "The Company is also pleased to announce that Century China (Holding) Ltd. ("Century China"), a company which represents China National Petroleum Corp., has signed a Letter of Intent with the Company to provide financing of US$14 million to begin the first stage of production development of the coalbed methane project. Century China will earn an interest in the wells after pay back, in consideration for providing the financing. They are currently in the process of completing their due diligence. bpi-industries.com Looking forward to see how this all comes together. Rich

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