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 (201)	1/19/1999 11:06:00 PM
From: Francis R. Biscan Jr.	Read Replies (1) of 355

Hi Spiney, >>What was with the surprise opening late this afternoon? What is going on here?<< I have not quite figured out how this happened yet. The person I spoke with at the exchange said it was policy to resume trading immediately, as long as the clarified new NR was received before 12:00 PST. I do not know why they did not wait. "the natural gas reported for the coalbed methane (CBM) gas project in the Illinois basin is composed of "speculative-in-place resource"<< I have never heard of this category before, has anyone else?? >>Significant additional work and expenditures are required to establish the resource as proven reserves. The report states that no proven reserves of natural gas have been demonstrated in the project area to date.<< Tell me why they would have to make that statement. What company, that comes out with a resource statement, has to say what they have not done yet, to make sure everyone knows. >>There is a significant gas gathering system and water disposal infrastructure yet to be put in place prior to the establishment of commercial production.<< Why in the world should they have to put this in a news release ?? What has this got to do with what was being announced ?? >>Warning: the company relies upon litigation protection for "forward-looking" statements.<< I have never seen this before. I will see if I can contact Keith Murray, and find out how much longer it would have taken and if there would have been any other conditions that would had to have been met, to have been "proven". Lets see what happens in the market tomorrow, when we have a full day. Rich

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