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Gold/Mining/Energy : BPZ Resources - AMEX:BZP -- Ignore unavailable to you. Want to Upgrade?

To: JGreg who wrote (4)	6/9/2008 7:36:31 PM
From: KaiserSosze	Respond to of 37

I'm not sure about your question JGreg. I would suggest asking it over on the Investor Village board...some real pros over there, including the gentleman who authored the following post: BZP - Free Upside With a PV-10 of $1.7B for 2P reserves, based on $89/bbl, it appears that BZP is basically selling for its 2P value at Corvina alone. Therefore, all of the upside, Alabacora, Delfin, Piedra Redonda, Mero, and 45 or so other mapped prospects within BZP's 2.4 million acres are essentially going for free. There is 4 Tcf of certified 3P reserves per a 2004 study. If you take NSAI's $166MM of NPV-10 value for the 284 Bcf of 3P gas associated with Corvina it comes out to $0.58/Mcf. Then apply that value to the remainng 3.7 Tcf of 3P and it gives you additional upside of over $2.155 billion or $26 per share. Therefore, making the leap from $23 per share to $50 per share is not that difficult and this does not even include any oil value for any of the named discoveries/prospects above. This seems like a no brainer and I am definitely buying at these prices.