BNX.A/B.V - BNP Resources - Page 44

i removed 20k from the 9 cents, the way this is trading i would rather keep that 20k in shares...seems like something will happen soon

I wouldn't mind seeing some successful tree shaking... unless someone wants to sell me a few thousand shares @ 6 cents. :D

Starting to get a good feeling about this one.

yeah i agree, the trading and walls being put up seem like a last gasp...who knows really with this company....

BNP Resources Inc. announces share for debt deal (cnw)

TSX-V BNX.A

CALGARY, Feb. 23, 2012 /CNW/ - BNP Resources Inc. ("BNP" or the "Corporation") would like to announce that it has completed a share for debt deal with one (1) "Creditor" totaling approximately $36,740.03. The debt obligation relates to services rendered to BNP by the Creditor. Under the shares for debt settlement BNP will issue approximately 367,400 Class "A" shares to the Creditor at a price of $0.10 per Class "A" share. The settlement constitutes full satisfaction of the $36,740.03 debt obligation that is owed by BNP to the Creditor. Upon issuance of the Class "A" shares to the Creditor, the debt owed the Creditor and obligations of BNP related to the debt deal will be fully extinguished. The shares upon issuance are subject to a four (4) month hold period.

The above agreement is subject to final approval of the TSX-Venture Exchange.

BNP is actively engaged in the exploration for and the development and production of oil and natural gas reserves. BNP's business strategy is to build sustainable and profitable per share growth through internally generated exploration and development drilling.

BNP has approximately 54,752,654 Class A share issued and outstanding which trade on the TSX Venture Exchange under the symbols "BNX.A".

Neither the TSX Venture Exchange nor Its Regulation Services Provider (as the term Is defined In the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document is not for dissemination or distribution in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

For further information:

Gregory Bilcox, President and CEO
BNP Resources Inc.
Phone: 403.695.1091

Getting rid of more debt, even though I don't know who this debt was too since they said they had 0 debt as of the last news release.

Oil is over 108$, the company is looking better and better with no debt and all of that oil in the ground. 

Quote:

Originally Posted by YoungInvestor89 

BNP Resources Inc. announces share for debt deal (cnw)

 

TSX-V BNX.A

 

CALGARY, Feb. 23, 2012 /CNW/ - BNP Resources Inc. ("BNP" or the "Corporation") would like to announce that it has completed a share for debt deal with one (1) "Creditor" totaling approximately $36,740.03. The debt obligation relates to services rendered to BNP by the Creditor. Under the shares for debt settlement BNP will issue approximately 367,400 Class "A" shares to the Creditor at a price of $0.10 per Class "A" share. The settlement constitutes full satisfaction of the $36,740.03 debt obligation that is owed by BNP to the Creditor. Upon issuance of the Class "A" shares to the Creditor, the debt owed the Creditor and obligations of BNP related to the debt deal will be fully extinguished. The shares upon issuance are subject to a four (4) month hold period.

The above agreement is subject to final approval of the TSX-Venture Exchange.

BNP is actively engaged in the exploration for and the development and production of oil and natural gas reserves. BNP's business strategy is to build sustainable and profitable per share growth through internally generated exploration and development drilling.

BNP has approximately 54,752,654 Class A share issued and outstanding which trade on the TSX Venture Exchange under the symbols "BNX.A".

 

Neither the TSX Venture Exchange nor Its Regulation Services Provider (as the term Is defined In the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document is not for dissemination or distribution in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

For further information:

Gregory Bilcox, President and CEO
BNP Resources Inc.
Phone: 403.695.1091

Quote:

Originally Posted by TheBoomShow 

Getting rid of more debt, even though I don't know who this debt was too since they said they had 0 debt as of the last news release.

 

Oil is over 108$, the company is looking better and better with no debt and all of that oil in the ground. 

 

Could be one of two things. 1) Payment from the work done on Jensen in Q4. However that $170k pp was suppose to take care of that. Maybe they decided to keep some extra cash and pay with shares. 2) It could be payment for Q4/year end. In last years audited annual info it mentioned that the quarterly reports cost between $27,000-30,000. Or else it could be for some recent costs to do with paperwork or legal documents for a potential upcoming deal. Just like how Turnbull was paid $73,000 in 2010 for his services through shares at 10c, but was not mentioned as the creditor until a year later. Either way 365,000 shares isn't much in terms of dilution and its better they did it at 10c rather than raised it at 6c in Q4. Makes sense to why BNX has not done a pp yet.

This is exactly what I was thinking. Probably Turnbull accepting shares for services.

This is absolutely fine with me. I'm liking these guys more and more everyday.
 

Quote:

Originally Posted by thedude4599 

Could be one of two things. 1) Payment from the work done on Jensen in Q4. However that $170k pp was suppose to take care of that. Maybe they decided to keep some extra cash and pay with shares. 2) It could be payment for Q4/year end. In last years audited annual info it mentioned that the quarterly reports cost between $27,000-30,000. Or else it could be for some recent costs to do with paperwork or legal documents for a potential upcoming deal. Just like how Turnbull was paid $73,000 in 2010 for his services through shares at 10c, but was not mentioned as the creditor until a year later. Either way 365,000 shares isn't much in terms of dilution and its better they did it at 10c rather than raised it at 6c in Q4. Makes sense to why BNX has not done a pp yet.

 

Yeah could be for sure. With oil not slowing down and at $108.55 now you would have to think BNP has got to be getting anxious to get a deal in place. It is going to be an interesting next couple of weeks IMO. I hope that we are getting closer, but think we still might have to go through another quite period and maybe a small PP.

Quote:

Originally Posted by YoungInvestor89 

This is exactly what I was thinking. Probably Turnbull accepting shares for services.

 

This is absolutely fine with me. I'm liking these guys more and more everyday.
 

 

Level 2

I added that 90k from Alpha as well. Sells have pulled back, but I have a feeling that new 8k sell from Scotia at 8c is going to paint us down later in the day. Scotia had some larger bids before at 6-6.5, so maybe to try and flush out rbc.

More activity around us in the Bakken. Looks like every area play is starting to get their drills going before spring breakup. Argosy(GSY.T) announced a Bakken update and they hit a 550bopd well. So far this year DTX and GSY have doubled the average 250boed wells so far drilled in the Bakken. Comparing Alberta and Montana results, I think the Alberta side has better potential.

COGL HZ DELBON 13-8-1-21
PRODUCTION - DEV (NC)
Well ID: 02/13-08-001-21W4/0
Fluid: CRUDE OIL
Licensee: Connaught Oil & Gas Ltd.
License Date: 24-Jan-2012
Spud Date: 22-Feb-2012
Projected Depth: 3,014.0 m
Field: DEL BONITA
Terminating Zone: RUNDLE GRP

MURPHY 14-5 HZ NINSTO 9-7-5-25
PRODUCTION - NPW (C)
Well ID: 00/09-07-005-25W4/0
Fluid: CRUDE OIL
Licensee: MURPHY OIL COMPANY LTD.
License Date: 23-Nov-2011
Spud Date: 18-Feb-2012
Projected Depth: 4,300.0 m
Field: UNDEFINED
Terminating Zone: WABAMUN GRP

haaa thedude...soon as i added that 20k for sale at 9 cents they dropped the ask to 8 cents and added ask orders all over the place....the day i removed my 20 cent ask at 9 cents, they remove theirs and the asks are muchhhh smaller....wtf man haaa

Quote:

Originally Posted by LOOPY84 

haaa thedude...soon as i added that 20k for sale at 9 cents they dropped the ask to 8 cents and added ask orders all over the place....the day i removed my 20 cent ask at 9 cents, they remove theirs and the asks are muchhhh smaller....wtf man haaa

Lol I dont get it either. Strange manipulation thats for sure.

Two more area wells licensed. I usually check every morning Monday-Friday, but sometimes they add wells to the map late on Friday. The one DTX well is over 5000m deep, looks like their testing a new Bakken area underneath their shallow oil pool.

D3EXP 11B-24 HZ FERGUSON 5-22-3-17
PRODUCTION - DEV (C)
Well ID: 00/05-22-003-17W4/0
Fluid: CRUDE OIL
Licensee: DEETHREE EXPLORATION LTD.
License Date: 24-Feb-2012
Projected Depth: 5,055.0 m
Field: FERGUSON
Terminating Zone: BAKKEN FM

SCL HZ DELBON 13-3-1-23
PRODUCTION - NFW (C)
Well ID: 00/13-03-001-23W4/0
Fluid: CRUDE OIL
Licensee: SHELL CANADA LIMITED
License Date: 24-Feb-2012
Projected Depth: 3,919.0 m
Field: UNDEFINED
Terminating Zone: WABAMUN GRP

BWD just announced that it was going to look at "strategic alternatives", sounds familiar hehe. I think all the juniors in the AB bakken area will eventually merge or be bought out. The wells are too expensive for companies with a market cap of less than $100 million to work on. Although BNX is different because it has a large shallow oil pool above its bakken land, it should have the advantage

right now( 2 projects on one property). Either way, any M&A in the area is good for BNX in attracting other interested parties.

Bowood starts company review, hires GMP Securities

2012-02-27 07:49 MT - News Release

Mr. Robert Mercier reports

BOWOOD ANNOUNCES REVIEW OF STRATEGIC ALTERNATIVES

Bowood Energy Inc.'s board of directors has determined to evaluate a range of strategic alternatives aimed at enhancing shareholder value. In addition, Bowood has engaged GMP Securities LP to advise the board of directors with respect thereto.

Strategic alternatives may include, among other alternatives, a sale of the shares of the Company, either in one transaction or in a combination of transactions; a merger, recapitalization, arrangement, amalgamation or any combination thereof; or a sale of a material portion of the assets of the company.

The company cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is undertaken, as to its terms or timing. The company has not set a definitive schedule to complete its evaluation and does not intend to disclose developments with respect to this process unless and until the evaluation has been completed or a definitive agreement has been reached, unless otherwise determined or required by law.

We seek Safe Harbor.

L2?

Quote:

Originally Posted by LOOPY84 

L2?

Alpha added to level 2. Anon just put out that 100k sell at 10c, otherwise its only RBC selling at 8c and 11c. The 1k orders are of course Anon.

New CPG wells just 2 miles south east of the bnx pool:

CPEC REAGAN 13-24-2-21
PRODUCTION - NPW (C)
Well ID: 00/13-24-002-21W4/0
Fluid: CRUDE OIL
Licensee: CRESCENT POINT ENERGY CORP.
License Date: 27-Feb-2012
Projected Depth: 4,000.0 m
Field: REAGAN
Terminating Zone: WABAMUN GRP

So far 3 wells just from CPG this year being drilled around us.

Level 2 with Alpha added. Anon still with the 100k sell at 10c, hoping to push rbc down to their buy order at 6.5

wow they sure drilling close to us...lets hope we start getting some positive news, u can hear a pin drop right now..do we have any idea how much rbc has left? would be nice to start a slow uptrend once these sellers are flushed out

Quote:

Originally Posted by LOOPY84 

wow they sure drilling close to us...lets hope we start getting some positive news, u can hear a pin drop right now..do we have any idea how much rbc has left? would be nice to start a slow uptrend once these sellers are flushed out

Yes, very close to us. 7, 4 and 2 miles are the distances of the new CPG wells. The closest one is being drilled less than a mile away from CPG's first Bakken well(announced in Aug "11) thats close to us. Most likely that one

hit something good. Makes sense because Murphy has 4 wells in this area. I'm pretty confident to say that BNX does have great Bakken potential underneath the jensen pool, and it could add significant

oil reserves even on its smaller land parcel.

Yes things have gone quiet. Pretty much every investor thats looked into BNX has bought in and is waiting. Now its RBC(seller) Vs TD/Anon(buyer) to see who gives in first. No clue to how many shares are left for RBC. If we knew which creditor was selling, then we could calculate it. Anon still bidding at 6.5, with that 10c sell to try and push down RBC and TD is pretty much hidden. I liked how

TD put a sell yesterday late in the day at 7c, just incase someone wanted to push up the price end of day.

Quote:

Originally Posted by thedude4599 

Yes, very close to us. 7, 4 and 2 miles are the distances of the new CPG wells. The closest one is being drilled less than a mile away from CPG's first Bakken well(announced in Aug "11) thats close to us. Most likely that one

hit something good. Makes sense because Murphy has 4 wells in this area. I'm pretty confident to say that BNX does have great Bakken potential underneath the jensen pool, and it could add significant

oil reserves even on its smaller land parcel.

 

Yes things have gone quiet. Pretty much every investor thats looked into BNX has bought in and is waiting. Now its RBC(seller) Vs TD/Anon(buyer) to see who gives in first. No clue to how many shares are left for RBC. If we knew which creditor was selling, then we could calculate it. Anon still bidding at 6.5, with that 10c sell to try and push down RBC and TD is pretty much hidden. I liked how

TD put a sell yesterday late in the day at 7c, just incase someone wanted to push up the price end of day.

yes mate....it's like drilling right at your front door......any minute someone gonna ring the bell and say...how much...we wanna buy.......lol. over a buck mate.

 just wish they would hurry it up a lil bit ;)

Quote:

Originally Posted by airbender 

yes mate....it's like drilling right at your front door......any minute someone gonna ring the bell and say...how much...we wanna buy.......lol. over a buck mate.