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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE)
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To: G.T. who wrote (206)1/21/1999 7:24:00 AM
From: Francis R. Biscan Jr.  Read Replies (1) of 355
 
Hi G.T.

>> The resource is speculative but coal beds are very uniform and these results should easily hold up for the whole seam. Flow rates look to be on the low side, but economic.<<

Agree on the rates for the whole seam, but isn't 140,000 MCF combined rate for all seams (average of 20 MCF x 7 seams) a fairly decent rate?? I know they were anticipating about 150,000 from the last NR that discussed the coming flow rates. Also, I'm sure you know that flows usually go up as the water is pumped off and maximum flow is reached after about 18 to 24 months.

>>With most people disinterested in the oil and gas sector it will take a financing deal to develop this property to move the stock higher<<

I agree.....We will likely not see this stock move up significantly until a deal is in place. On the market side, I believe the current weakness stems mostly from the initial 1 hour opening, with nobody knowing it was coming. Most people, even if they understood the report, were going to judge it by which direction the stock went from it. All it took was a trader to sell 400 shares for it to trade down and show the lack of bids out there. After that, it was crisis management.

Again, that second NR was unnecessary and damaging.

Have a good day,

Rich
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