BNX.A/B.V - BNP Resources - Page 2

Did some more research on BNX's major shareholder Mr.Doody, and heres what I found:

Mr.Doody has been part of a couple successful company takeovers in the past decade, he seems to be very particular in which company he buys.

"Seventh Energy Ltd" - A southern Alberta oil and gas play that was formed in 1996, Doody took a fair sized position in 2001, the company was bought out by PrimeWest Energy Trust in 2003-2004, then PrimeWest was acquired by TAQA North in 2008. Doody owned around 70,000 shares in which he started accumulating at around $1, all the way to $3.50 a share. Not sure how much Seventh was purchased for though, probably higher than that.
Seventh Energy info: http://companydatabase.org/c/crude-petroleum-natural-gas/oil-crude/operates-oil/drilling-production/exploration-activities/projects-canada/seventh-energy-ltd.html
Insider buying: http://www.albertasecurities.com/DisComp/Insider%20Trading%20Library/5828/InsiderTradingMarch30_2001.pdf
Insider buying: http://www.albertasecurities.com/DisComp/Insider%20Trading%20Library/5829/InsiderTradingNovember10_2000.pdf
Another interesting thing was that BNX's previous director Gregory Turnbull was on the board of Seventh Energy from 1996 until 2003, in 2003 he joined Crecent Point Energy.

Then in 2007 Mr.Doody had purchased shares of Humptys International Restaurants, couldn't find any exact price, but from a chart I found it looked like he got shares in around the mid to high teens. He purchased a 10% stake in the company
News: http://www.marketwire.com/press-release/Humptys-Shares-Purchased-by-Doody-630609.htm
Then in Q3 2009, Humpty's was bought out by a private Alberta company at 26c a share. If you look at Humpty's financials through Sedar, their revenue had dropped substancially from 2007 to 2009, yet they were still bought out at a premium
News: http://www.marketwire.com/press-release/Humptys-Restaurants-International-Inc-Announces-Going-Private-Transaction-TSX-VENTURE-HMP-1017698.htm

Shortly after that, Mr.Doody had started acquiring shares of BNX.A, and in Dec 2009 he purchased an additional 10% stake in the company. Since then Mr.Doody has been acquiring shares even as of recent. He owns 17% of the Class A and 27% of the Class B shares. In BNX's MD&A, it says that Class B shares can be converted into class A shares at a ratio of 1 Class B to 10 Class A, so he owns quite a substantial position in the company. 

Always a good sign to see the insiders participating in their own PP. Plus theres no warrants which is rare for stocks under 10c, because companies usually need to offer them with the common shares as an incentive.

Level 2 Quote

Out of the 5 additional institutions that place orders, Alpha is the only one that has a level 2. So add whatever is on Alpha's level 2 onto the normal level 2, as they are hidden bids right now. 

+ Alpha

+ Alpha orders
http://www.alphatradingsystems.ca/ALPHAMARKET/MarketActivity/SymbolLookupResults/tabid/97/Default.aspx?pid=92&symbol=bnx.a
 

More insider buying on the B class shares. Doody already owns 5,030,000 Class A and 237,400 Class B shares, yet he's still loading up. B class shares can be converted to A class at a 10A to 1B.

BNX Alpha orders(hidden)

Insider buying again and a breakdown of how Class B shares can be converted to A shares.

From BNX's MD&A and financials it explains how the B shares can be converted to A shares:
Q3 Financial :
The Class B Shares are convertible, at the option of the Corporation, at any time after June 1, 2009, and before May 31, 2011, into Class A Shares upon five days prior notice to holders of Class B Shares. The number of Class A Shares obtained upon conversion of each Class B Share will be equal to $10 divided by the greater of $1 and the then Current Market Price of the Class A Shares. If the Corporation fails to exercise the conversion option by the close of business on May 31, 2011, the Class B Shares shall be convertible at the option of the shareholder, at any time after June 1, 2011, and before June 30, 2011, into Class A Shares pursuant to the conversion formula described above. Any Class B Shares not converted by the close of business on June 30, 2011, will be automatically converted to Class A Shares pursuant to the conversion formula described above.
Q3 MD&A:
Per share amounts have been calculated on the weighted average number of shares outstanding after giving effect to the potential conversion of Class B shares into Class A shares at a conversion ratio of 10:1 reflecting the closing price of the Class A shares on September 30, 2010, and 2009, of 
.08 and 
.05, respectively, both being less than the minimum conversion amount of $1. BNP also gives effect to the conversion of the Subsidiary’s preferred shares to the parent Corporation’s Class A shares on a 1:1 ratio. This results in 37,098,105 and 30,663,930 outstanding Class A shares for the nine months ended September 30, 2010 and 2009, respectively. The average number of Class A shares outstanding was not increased for outstanding stock options as the effect would be anti-dilutive.

No success sending you msg. " Permission denied please log in" error keeps poping up, even though I am logged in?

One of BNX's main surrounding plays announcing some news of more drilling in the area. Some of these results should give us an idea on how much the Bakken/Exshaw pool can produce, and BNX will most likely use these results to create a drill target for that depth. Their Madison/Mississippian wells are more shallow so production results will be different than the Bakken/Exshaw, but BNX mentioned working on a Bakken/Exshaw drill on their land because do in fact have the rights for that depth.

BNX's website is down right now, could we be getting a new site?

Tried to contact the company this week via phone and email, and this is what happened:
Phone keeps going to voicemail after 1 ring
As per email, I was immediately sent back a notification from the company that they are not allowed to respond until April 28th.
This means that there is a blackout period right now, which means that there is new information about the companies projects/status/management and they are not allowed to speak to anyone through any means until the news has become public, which will be next week. The news may not be its own separate news release, but there should be an update through their Q4/year end results at least.
This could be why Mr.Bilcox had to buy that 1 million shares through a PP, because theres a 4 month hold on those shares. Whereas Mr.Doody is not a board member and therefore can buy as he pleases.
Next week should be interesting

This looks very promising..... will do some more DD.....this has been pretty quite for some time...thanx thedude4599.........

pick up some more today @ .07 and .075

HD...for a flip or long?

Quote:

Originally Posted by airbender 

HD...for a flip or long?

Both,,, i already been flipping this for 1/2 cent for the past 2 weeks, and still got a core and pick up more today, awaithing news now so will hold until then and see what happen to the SP.

Something interesting came out of the ERCB the other day. Looks like BNX "Amended" or changed something with their 16-5 well.

As well, in regards to Deethree JV news(DTX) about doing some JV drills on their Lethbridge property next to BNX, this same sheet it shows Deethree doing some joint venture drills with Encana( In the news release Deethree didn't announce their major JV partner). This is significant because BNX is surrounded by DTX(DeeThree), CPG(Crescent Point) and ECA(Encana), so potentially some new JV wells could be starting, or a partner to help tie in the Jensen wells.

http://www.ercb.ca/docs/data/facilities/facilities_licensed.csv

BNX is cell 138, EUB ID A24F. Below them are several Deethree wells which list Encana as the operator. 

Level 2 Quote

News today:

BNP Resources private placement amendment
2011-04-25 14:30 MT - Private Placement
Further to the TSX Venture Exchange bulletin dated April 6, 2011, the exchange has accepted an amendment with respect to a non-brokered private placement announced March 21, 2011:
Insider: James Doody 500,000

James Doody now owns 5.5 million Class A and 240,000 Class B(Can be converted to Class A at 1b to 10a), giving him a total of 7.9 million shares, which out of the fully diluted/converted O/S of of 40 million, thats a 20% Stake.

Mr.Bilcox also recently purchased 1 million shares in the PP.

I might jump on this on monday!