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Gold/Mining/Energy : Bomax Resources - BXS.VSE -- Ignore unavailable to you. Want to Upgrade?

To: pete meyer who wrote (203)	7/15/1998 9:04:00 AM
From: Sudhir Khanna	Read Replies (1) \| Respond to of 313

Peter, Jim has also helped to take stocks from pennies to dollars. His current holdings in Bomax were accumulated at $1, $0.30 and now at $0.15 (the shares issued for the loans are mostly his and the Bomax lawyer). Also, take a look at the volume over the last year. I don't think he has had much chance to sell his shares (in-fact, this is when he has been putting his own money into the company to keep it alive and thus the shares issued at $0.15). I agree with you that every company goes through their cycles. I have taken a cautious approach to BXS and will continue to do so until they prove themselves. What I am interested in however, is an opportunity to make a profit. Does the current management have an incentive to perform? A clear YES. Will they have a good story to tell if the property is vended in? YES. Can the property (if vended in) support the current and to be diluted stock price? Although this is a speculative comment at this stage, I would have to say YES. Your cautious approach is good and one that I speculate with. Bomax has not made shareholders happy over the last three years. However, for new speculators, I think it represents a profit opportunity well worth the associated risk level. The owner of the property under review has forwarded a cheque for $300,000 to Bomax so that it can complete its due diligence process. The president has converted his loan to shares. The engineer is flying away this week to complete the due diligence process. The timing for a speculation looks right to me. I look forward to your comments and further discussions. Sincerley, Sudhir Khanna, P.Eng. Editor, The RESOURCE INDICATOR goldsheet.simplenet.com

To: pete meyer who wrote (203)	7/15/1998 4:02:00 PM
From: Leigh McBain	Respond to of 313

Pete, no argument that that is how the game is played and basically by all the participants. There is only one difference I can see between some of the players and the rest. That is whether or not they are at least attempting to generate projects that have the potential to turn the companies into real ones or whether they are strictly trying to pump and dump, based on anything they can get their hands on. In Jim's case, I believe he is at least trying to find something with real potential. If we wind up with a real hit over there, I would not be surprised at all to see the company sold or something of that nature, but I would then expect those of us who are shareholders to do just fine. The sale of the company is strictly speculation towards a potential end result, I have NOT heard any rumors or anything to suggest this is on the table. The suggestion currently is that there are 7 wells that should be able to be brought into production, fairly quickly. Now, until they are actually producing, even that is speculation. However, if they do wind up producing, at the suggested flow rates and the company owns 48% of that output, the stock should be worth more than it is currently. I am not making any huge projections, I am not guaranteeing anything, only suggesting that the risk involved in this play, at the moment appears to have diminished, at least in the short run. Salut, Leigh McBain