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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (30731)	4/21/2008 7:14:04 PM
From: Madharry	Read Replies (1) \| Respond to of 78667

I dont why its moving but I alway thought it was well managed company and had faith in ceo who owns a pretty good chunk of it. Its nice to see Im finally eeking out a small profit on my position after averaging down from around $2. Now if only SIL, MCGC , and CCRT would cooperate and move up. CRESY had a nice move up today also. The voting on splitting plg.to into two companies is tomorrow I believe. Despite my huge position I couldnt resist adding a few shares at $4 when someone put some up for sale at that price. I cant figure out why anyone would sell shares in PLG.to at this juncture unless they were meeting margin calls. I think that the ecuadorian decision to review their mining policies will have major impact on valuation of mining companies and properties throughout the world. I like having a nice gold property in Canada.

To: Paul Senior who wrote (30731)	4/22/2008 7:56:21 AM
From: Madharry	Respond to of 78667

I guess you are right about bsic going up. from a poster on a different thread: "The Bakken is THE hot spot in the US and we own part of over 13000 acres. 12 Oil prices in Co. are over fifty percent higher than Ray projected when he said we would net over a million on those new wells and nat. gas prices are over 100% above his estimates. 13. Bad for the nation, but for BSIC- oil is heading over $120- that is pure profit on all existing production 14. No dry holes in CO., as Ray predicted. 15. Come up with your own- lots to be grateful for. Now my speculation on the Bakken release. First: The main reason I stay in BSIC is that Ray is a man of integrity- when he says something will happen it will- we should drill in the Banks this summer or soon after if there is some kind of mild delay. Second, I heard there is production equipment hooked up at the Conoco Phillips (COP) well on our doorstep- 2 miles south of our Banks field. I do not know if it is our former scout of the area from about 2 years ago who told me, but it may be. So this is my request: Can our former ND scout confirm this on the board and let us know if they have started clearing land nearby where some recent permits were requested? What are you seeing out there at 31-152-97? See I was trying not to say this and fuel speculation, but our old scout was 100% accurate two years ago. But I think it is true because as I wrote a few weeks ago: It's On! There are a bunch of permits going off around the new COP well. I listened to the hearings but have not seen permits, so I doubt there is land being cleared nearby, yet. All indications are that the Bakken is productive near our Banks field. The wells cost $7 million. I am guessing, based on other Bakken wells to the west of Mountrail at least 200bbls/day for this COP well near us- pure speculation, but a recent COP well four miles to the east of this new well in the Bakken just came off confidential status and produced over 19,000 bbls in its first three months- over 200bbls/day for the first three months!. That the well near us is a producer is a very logical guess, which I made before hearing of the equipment. This well will come off confidential status in about two months and then I will post its production numbers and the speculation will end. Until then, be thankful for what we do know: we are kicking A. Some deeper, ridiculous speculation: we were trying to reduce partners at our Banks well, maybe Marathon will be a big partner there and maybe that is why we got a little piece of their well, maybe more of those to come as a thank you- about ten percent chance of being right here, but wondering. Maybe the new partners are shaping up and planning on this summer because they know and like the numbers on the nearby COP well- some people have to know these numbers- maybe Ray knows them. I don't know sh-t about all this, just guessing. Spec at your own risk. There is enough to be excited about without me speculating." I know nothing about analyzing oil and gas companies so I tend to rely on others opinions and analysis. Its funny I always thought of bsic as a pretty minor position but with the recent price appreciation and the decline in sil price the two are equivalent now. Since bsic is a microcap, it looks like the potential to this novice is substantial.