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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Struthers who wrote (275)	9/3/2000 12:08:37 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 355

Ron, Thanks, this helps. But the logic doesn't totally hold up based on what I've heard so far. Mid-Con was dependent on BPI being able to raise a significant amount of financing via the public markets in order to allow the project to go forward. This must have been obvious from the outset, to all parties, including Mid-Con. Also, since BPI did not basically have any other operations, it must have (should have) been pretty clear to Mid-Con that they would have to be willing to provide information about the project to BPI so that BPI could use such info. to raise funds. So why would Mid-Con bother to enter into the contract in the first place? Maybe they did not anticipate the need to provide info. on the project. But once it became obvious that it would be necessary for them to provide such info in order to allow BPI to raise the needed funds, or otherwise Mid-Con would never get to do the project, why didn't they start providing info. on the project? If the projections of there being 1 - 2 TCF of gas there are anywhere near right, then it would seem that that would induce even the most stubborn, close-mouthed private company to open up and start talking. The concern I have is that maybe the real reason that Mid-Con was so close-mouthed about the project is that maybe there was some negative information developed about it that it did not want to be made public. There's probably a valid explanation for the above, so I'm not too worried about it. I've built up a nice little position in this stock even with the above concern. But I'm now at the point where I have to get more answers before increasing my position much more.