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To: tom pope who wrote (53455)	6/23/2007 7:55:19 PM
From: Dale Baker	Read Replies (2) \| Respond to of 118717

Think of it as batting clean-up if that works better for you, LOL. Speaking of ideas swiped from others: To: Jerrymac who wrote (86609) 6/23/2007 3:12:06 PM From: Ed Ajootian 2 Recommendations of 86720 BPZ Energy (BZP) -- As illustrated by what happened in the last few minutes of trading yesterday, there is at least one deep-pocketed institution that apparently got left out of the latest PP, that is willing to pay a premium over the PP price for the privilege of owning a part of this company (or increasing their position). Over 1.5 M shares changed hands, at a price that was right around the high of the last 3 trading days. Needless to say this bodes well for BPZ fans over the coming weeks. The registration statement for the shares issued in the latest PP was declared effective on Thursday, so the fact that this cross happened yesterday is a clue that the Big Boy(s) that was (were) looking to buy in were just hanging around waiting for the PP shares to become free-trading, to see how many shares they could snap up at prices lower than the negotiated price for the cross. Apparently they decided it was time to pull the trigger after just 1 day of trading. I had previously speculated (over on the IV board) that I would not be surprised if BPZ shares traded down to as low as $5.25 (i.e. the price of the latest PP) in the coming weeks. Based on what happened in the last few minutes of trading yesterday, I need to change my tune on that -- I now would be very surprised if they traded down that low. Its when stuff like this happens that I get reminded why: 1) I try not to trade energy stocks for the short-term, and 2) I keep my day job. <g> If BPZ establishes production of 2 mbod by 12/28/07 the BPZ management gets a bonus of 9 M shares. At a $6 stock price this sounds like a pretty healthy bonus, but when it was set up BPZ stock was selling for around half that quote I believe. The fact that BPZ is having their petroleum engineering firm do a reserve evaluation on only these first 2 wells makes me think that they believe they may have already proved up enough gas for the minimum amount required for Phase I of their gas-to-power strategy. Otherwise, why bother going through the effort and cost of getting this initial reserve study done, given that within 3 months they will have the 3rd well down and would be able to use the info from that, for what would more than likely result in proving up a larger amount of reserves? By getting a reserve report that shows the minimum amount of reserves for Phase I out now, this would leave only 1 remaining condition in order to allow BPZ to issue the debt portion of their IFC financing -- getting a 3rd well to test out at at least 20 mmcfd. So issuing such a reserve report in the next month or so would thus put BPZ in a position to close on the debt financing within a few days of announcing the test results of this well they are drilling now. Perupetro is set to announce the winning bids for their latest licensing round in around 3 weeks or so. Rumors are flying around (started by none other than a high-ranking Perupetro official) that Shell has been a very active and interested participant in the bidding process. If in fact Shell is announced as a winning bidder on a bunch of the licenses this would put Peru right in the middle of the world spotlight for energy plays. A huge company such as Shell would not bother getting involved in an area unless they thought it had potential for massive discoveries.