BNP Resources Inc. V.BNX.A

Pescod on BNX.A

[Tinmann]

BNP RESOURCES (V-BNX.A) $2.85 +0.10 We’ve written up and mentioned BNP Resources on two previous occasions and it looks like it may be one of the few stories in Alberta these days where we face the high Cana- dian dollar and ever-higher royalty rates, that bears watch- ing closely. This junior company led by three former CNQ veterans are involved with a junior that is not a big producer—just over 100 barrels a day of production plus another 300 bar- rels plus waiting to be connected. The excitement though, which was written up by the Calgary Herald way back on November 30th and is still must-reading, centers on a dis- covery called Jensen, right on the Alberta/Montana border that interestingly, has seen production on the Montana side of the border for almost 50 years. The gossip is that they may have a discovery and those people betting on it are suggesting it could be as high as 40 million barrels with 10 million recoverable. For those follow- ing this story and notice we can’t use names at this time, are suggesting they have a third well going into the discovery as we speak and results are expected shortly. With the pop today, does someone know something? Or hope they know something? It is estimated that it will take another six to eight wells into the Jensen play to prove to someone bigger that it might be of intriguing size, but this is one of those high risk/ high reward plays that so far, looks intriguing. We hope to have an interview shortly with President Greg Bilcox, once news is out in the next 7-10 days on the latest drilling re- sults