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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: fxfun who wrote (88542)	8/1/2007 12:35:07 AM
From: architect*	Read Replies (1) \| Respond to of 206338

I'm just getting started on this one, reading thru the prospectus for the June 22, 2007 private placement (PP). As of 5/31/2007 BZP had a cash balance of $35 million (raised from PP) with $13.8 million in 2006 operating expenses. The capital expenditures for the Corvina gas to electricity project are noted at $132.3 million for: refurbishing the drilling platform, refurbishing the existing well, drilling new wells, new pipeline from the off-shore platform to shoreline, gas processing facilities, electric generating plant, new pipeline from the generating plant to Ecuador. My question is what portion of the $132.3 million in capital expenditures are required to book the first 2008 revenues? either from the recent Corvina discoveries (14D, 16X, and 21X), or whichever revenues will be first reported? If BZP Energy can book significant 2008 revenue using exiting cash balances that is good news? If, $100 million, or so, in additional capital expenditures is required to book significant 2008 revenues then this scenario is not as good! The 410% increase in short interest from June to July leads me to the question the anticipated quarter when significant revenues will be reported? As an example of significant revenue, Transglobe TGA reported Q2 2007 revenue of $31 million on production of 5,940 boepd. TGA market capitalization is similar to BZP Energy -- $270 million. Just looking, no position in BZP Energy. - john

To: fxfun who wrote (88542)	8/1/2007 7:59:46 AM
From: Ed Ajootian	Respond to of 206338

fxfun, BPZ Energy (BZP) -- It certainly is possible that there are still a lot of cheap shares out there and those being dumped are what is causing the crash in the stock price. But the timing of this is dumping doesn't make much sense. Those shares have been free-trading for many months now, so why would they have all decided to blow out their BPZ stock now, on no news? Regarding the shares held by IFC, since IFC owns > 5% of the shares outstanding, they are subject to SEC reporting rules. This means they need to file an amended Schedule 13D if their ownership interest in BPZ changes by 1% (of the shares outstanding) or more. There have been no SEC filings by IFC since their initial purchase. It would be bizarre if there was some reason why they couldn't own both stock and debt of the same company. I believe the stockholder's agreement for IFC was included on a Form 8K that was filed with the SEC right after they made their investment in BPZ, in late December. One thing that could possibly explain the dumping on the last day of the month is "window dressing" by the firm(s) that shorted a lot of shares earlier. Here, all they had to do was dump another half million shares or so on 7/31, and now they look like superstars with respect to the 2.9 million shares they had shorted earlier. These shorts are acting like bullies and I'm coming to the realization that there is little we can do to stop them, at least in the short term. Obviously they have a lot of funds available and are determined to use as much of them as needed to accomplish their objectives.

To: fxfun who wrote (88542)	8/1/2007 8:20:48 AM
From: CommanderCricket	Respond to of 206338

"The dumping at the end of today is amazing. What's the urgency to sell at the last day of July in the last minute? Very curious" It smelled of forced liquidation but we shall see soon enough. Ed, great to see you weigh in here with your comments.