BNP Resources Inc. V.BNX.A

RE: Q3 Results

[Markian]

oh JR, the perpetual optimist.  Always able to see the silver lining on this black unprofitable cloud that is BNP.

"4) Not sure what to make of the new Jensen wells because the rates are confusing. However 1m3/d = 6.3 barrels of liquids. Now this is a mix of oil,nat gas, NGL's, water, etc. A good company to look at in terms of similar properties that are close is Zargon Oil and Gas. They have properties all next to BNX's properties. They also target pools simialr to Jensen with higher water content and long term production rates."

Since it sounds like you are looking for help in figuring out what types of wells make sense in the oil world, let me help you out.  Well 1 mentioned by BNP is making 44 barrels of  "liquid" a day. As they stated 90% of that liquid is not oil, so they are getting a whopping 4 barrels a day of production from that well.  Don't try and snow us over that the 90% contains anything but water. If it did they'd tell us that %.  They have 40 barrels of water to get rid of for every 4 barrels produced and that's all they're seeing in a day!  No company drills wells to get 4 barrels a day out of the ground at a time.  These 2 wells (the other having less than a 1% oil cut) were drilled into the "sweet" spots of the Jensen pool. The spots that would give them the highest likelihood of success.  Don't start telling me about area producers drilling into surrounding madison pools. These wells are the only ones in the "jensen" pool.  Each pool is different and has different properties. Some have oil and some have water, unfortunately it sometimes is difficult to see oil vs. water on seismic.  drill bit tells the story and this drill bit tells the story of a crappy pool.  You probably will make more money as a Walmart greeter than by continuously researching and pumping this stock hoping that a sucker is born every minute and will buy your shares for what you originally paid for them.

Start being honest with this board your charade is up.