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BNX.A/B.V - BNP Resources - Page 45

post #881 of 2299

This can go on for a bit longer I hope... I'd still like to double my position @ 6 cents if some nice person would be willing to sell that low. :D

post #882 of 2299


lol well i got enough, more than i ever thought i would own...hopefully it pays off

Quote:
Originally Posted by YoungInvestor89 View Post

This can go on for a bit longer I hope... I'd still like to double my position @ 6 cents if some nice person would be willing to sell that low. :D



 

post #883 of 2299
Quote:
Originally Posted by LOOPY84 View Post


lol well i got enough, more than i ever thought i would own...hopefully it pays off



 



Lol me and you both. I have never owned such a large position in a company over the last 9 years of trading that i've done. I don't mind waiting, but the sooner things get going, the better. I just hope they aren't being greedy and just waiting for better deals to come if we already got something good on the table.

 

News article today in the Calgary herald about BWD. The CEO's responses are exactly what I mentioned the other day. The juniors in the area

are just too small to do anything, other than accumulate land and wait to be bought up. Thats why PIE, IFR, GX, BSP, BEY,CMT, HRH have done little to no work on their properties. BWD and BNX are easily the most advanced Bakken juniors. They want either a JV, merger or takeout just like BNX and BWD. But when wells can cost upto $12 million like the CEO of BWD says in the article, thats when BNX's Jensen pool has an advantage. With less than $12 million a company can guarntee long term production out of Jensen and drill the other targets as well.

 

article: http://blogs.calgaryherald.com/2012/02/29/undercapitalized-bowood-beating-bushes-for-cash/

 

Big reward requires big investment and that’s why tiny oil explorers like Bowood Energy Inc. are looking for a hand up.

On Monday, the company that has a big land stake in the Alberta Bakken play announced it was undertaking a review of strategic alternatives that could involve selling all or part of the company, a merger or a recapitalization.

President and chief executive Robert Mercier returned a call Wednesday to explain that the move was made to “beat the bushes” and see what interest there is in sharing what could be a profitable venture.

“The asset we have in southern Alberta is fantastic. It’s a resource play but it’s big dollars and we can’t continue on just meandering along without more access to capital,” he explained.

As an undercapitalized micro-cap company, we really can’t do a heck of a lot.”

He said initial horizontal wells with multi-stage hydraulic fracturing have cost as much as $12 million to drill and complete, but that could fall to $6 million to $7.5 million depending on depth now that more is known about the formation. With 95 sections on the Blood Tribe lands and two to eight potential drilling locations on each section, that’s a lot of potential and a lot of cash.

Legacy Oil + Gas Inc. has been farming in on the play by paying 80 per cent of the costs of a well to earn 50 per cent. But even coming up with the 20 per cent cost is a big deal for Bowood, a company with a market cap of about $50 million, says Mercier, adding he’s reluctant to sell shares when they’re trading below 20 cents each.

post #884 of 2299

CALGARY, Mar 1, 2012, 2012 (Canada NewsWire via COMTEX) -- TSX-V BNX.A

BNP Resources Inc. ("BNP" or the "Corporation") would like to announce an offering of a private placement of up to 2,500,000 Class A shares at a price of $0.06 cents per share for aggregate gross proceeds of up to $150,000.00 (the "Offering"). The Offering will be conducted on a best efforts basis and will be subject to a four month hold period from the date of share issuance. The Offering is subject to the receipt of all the necessary regulatory and TSX-Venture Exchange approvals.

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 shares 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.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2012/01/c9048.html

SOURCE: BNP Resources Inc.

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

Copyright (C) 2012 CNW Group. All rights reserved.

post #885 of 2299

Well another PP, I think we all saw this coming with them having 0 cash.. This money will probably be for their year end report and any other expenses for Q1. There is a good chance this will be filled completely by Doody and Bilcox again, obvious that they don't want to do the work on their property.... 150k in cash won't do anything to the jensen property, They need 3-5million minimum to get the wells working the way they need them to. Atleast we are getting news at a more constant rate now again.

 

post #886 of 2299


yeah we all saw this coming...wake me up when something new happens yawn.gif

Quote:
Originally Posted by TheBoomShow View Post

Well another PP, I think we all saw this coming with them having 0 cash.. This money will probably be for their year end report and any other expenses for Q1. There is a good chance this will be filled completely by Doody and Bilcox again, obvious that they don't want to do the work on their property.... 150k in cash won't do anything to the jensen property, They need 3-5million minimum to get the wells working the way they need them to. Atleast we are getting news at a more constant rate now again.

 



 

post #887 of 2299
Quote:
Originally Posted by LOOPY84 View Post


yeah we all saw this coming...wake me up when something new happens yawn.gif



 


Yup, no surprise to the longterm investors. As I said before, since Q1 2011, those two have raised the same amount every quarter since for G&A + additonal costs. Boom you put it best, they dont want to do jensen themselves with a large pp, or else they would have done so already. But they need the funding for debt payments, Year end, reserve update and other costs. What makes me laugh is the fact that the creditor just got ripped off. He took 10c shares on $36k worth of debt, but Bilcox and Doody are going to get 6c shares? lol. Well all the creditors got ripped off thus far, except for Privco that got 1.61 million shares at 6c over the summer.
 

 

post #888 of 2299


Yeah really.. Well there won't be much action except for the closing of this PP until we see all the year end stuff at the end of April. Could be another boring 2 months ahead... hopefully they announce a deal before that.

Quote:
Originally Posted by thedude4599 View Post


Yup, no surprise to the longterm investors. As I said before, since Q1 2011, those two have raised the same amount every quarter since for G&A + additonal costs. Boom you put it best, they dont want to do jensen themselves with a large pp, or else they would have done so already. But they need the funding for debt payments, Year end, reserve update and other costs. What makes me laugh is the fact that the creditor just got ripped off. He took 10c shares on $36k worth of debt, but Bilcox and Doody are going to get 6c shares? lol. Well all the creditors got ripped off thus far, except for Privco that got 1.61 million shares at 6c over the summer.
 

 



 

post #889 of 2299

Oh yes another small pp, they keep this up and they will run out of personal money. Any way it is buying them some time but you got to think that they are getting anxious also, I know I am, just about running out of patience but this has got to be the year..IMO

post #890 of 2299

Perfectly acceptable in my books. The more money these guys sink in out of their own pockets, the more secure my investment is.

post #891 of 2299


Very true my man. who knows maybe I'll get some tax return money into this play before a potential buyout.

Quote:
Originally Posted by YoungInvestor89 View Post

Perfectly acceptable in my books. The more money these guys sink in out of their own pockets, the more secure my investment is.



 

post #892 of 2299
Quote:
Originally Posted by TheBoomShow View Post


Very true my man. who knows maybe I'll get some tax return money into this play before a potential buyout.



 


I agree 100%.The more money they put in, the more certain they are about the future and getting a return on it. This honestly has to be the last pp, we got Jensen plans out there, the area and industry is on fire right now and we got a reserve update and year end coming out. If Bilcox and Doody want their money back with a nice return after several years of investing and waiting, now is the time.
 

 

post #893 of 2299

 

Found another interesting site that gives more evidence about Turnbull still working in the background for BNX.

 

http://www.canadianfinancing.com/oil_and_gas/ This site shows every single PP that is being offered on the TSX&V and stays on the site until its closed(I think they remove completed ones end of month). Now although Turnbull resigned from the board Q3 2010, it looks like he still does work for them even on non-brokered private placements and shares-for-debt deals. Wouldn't doubt if that $36k that was just issued went to him. They should tell us in the YE report just like last year.

 

BNP Resources Inc (BNX.)
Sector: Oil/Gas

 

 

Status Proposed
Financing Type Common shares
Gross Proceeds $150,000.00
Date Proposed March 1, 2012
Units Issued 2,500,000
Price $0.060
Warrants 0
Exercise Price $0.000
Expiry Date -
Region Alberta Saskatchewan
Agents Non-brokered
Commodity Oil/Gas
Attorneys McCarthy, Tetrault LLP
Website

http://www.bnpresources.com/

 

BNP Resources Inc (BNX.)
Sector: Oil/Gas

 

 

Status Closed
Financing Type Common shares
Gross Proceeds $36,740.00
Date Closed March 1, 2012
Units Issued 367,400
Price $0.100
Warrants 0
Exercise Price $0.000
Expiry Date -
Region Alberta Saskatchewan
Agents Non-brokered
Commodity Oil/Gas
Attorneys McCarthy, Tetrault LLP
Website http://www.bnpresources.com/

 

Gregory Turnbull Bio : http://www.mccarthy.ca/lawyer_detail.aspx?id=4773

 

From the last MD&A in Q3:

 

The Corporation incurred $nil and $nil (2010 - $nil and $11,954) for the three and nine month

periods ended September 30, 2011 for legal services to the law firm in which a director of the

Corporation is a Partner. During fiscal 2010, the Corporation issued 728,888 shares to the

related party at a deemed price of $0.10 in full satisfaction of the amount owing of $72,888

which has been recorded as an increase to share capital. During the first 9 months of 2011 the

Corporation has been invoiced by a law firm in which the Corporate Secretary is a Partner for

approximately $5,500.00.

 

The director/partner has to be Turnbull because neither Brown, Doody, Bilcox have a law background. Schultz does have one, but if it was him then BNP would legally have to issue the shares directly to him. Plus it would say in his background if he worked at McCarthy. His skills are very limited compared to Turnbull in terms of the legal work he can do, hence his non existent position in the company.

 

Toby Schultz, Corporate Secretary

Mr. Toby Schultz, B. Comm (Dist), LL.B who has been providing legal services for BNP, has

accepted the Corporate Secretary position at BNP. Mr. Schultz was called to the Bar in 2006. His practice

has focused primarily on corporate/commercial law and corporate litigation law. Mr. Schultz has

experience sitting on boards and committees for not-for-profit organizations, most recently acting as

President and Chair of the All Nations Theatre Society.

 

Toby Schultz

Calgary, Alberta

Canada

Barrister and Solicitor, 2006 to present Corporate Secretary(From 2011 annual info)

 

 

I think I found where he works, Moore Whittman Phillips, http://www.yourcanadalawyers.net/Schultz-Toby-36686456.html

From website:

 

Name Toby D Schultz
Title Barrister & Solicitor
Law Firm Moore Wittman Phillips
City Calgary
Province Alberta
Postal Code T2R 1J4
Website www.nucleus.com

What is a barrister and solicitor: barrister and solicitor

n. pl. barrister and solicitors or barristers and solicitors Canadian
An attorney in the common-law provinces of Canada who is licensed to prepare cases and argue them in court.

 


Edited by thedude4599 - 3/2/12 at 11:16am
post #894 of 2299

amazing work theDUDE

post #895 of 2299

Lets see some volume this week. I'd love for someone to get suuuuuper antsy or need lunch money and sell me a big fat chunk at 6 cents... Board member rate for those of us who got the cohones to be in this play.

 

If this thing ever goes north, I'll be getting super yucky with you fellas. 2guns.gif

post #896 of 2299

some increased bids at 7 centss..once rbc sells off i hope we move up, but it seems they dont wanna sell at 7 anymore...thedude great work man, your DD is off the charts..i gotta say im impressed wow! When this thing pays off no one deserves the pay off like u man, cheers. Do you live in calgary btw?

post #897 of 2299

I was just looking over the last PP which was announced last week and I noticed something. This PP doesn't have a scheduled closing date of 30 days which all of the other PP's which have been done over the past 16 months have had. SEE BELOW:

 

 

 
CALGARY, Alberta – March 1, 2012: BNP Resources Inc. (“BNP” or the “Corporation”) would like to 
announce an offering of a private placement of up to 2,500,000 Class A shares at a price of $0.06 cents 
per share for aggregate gross proceeds of up to $150,000.00  (the “Offering”).  The Offering will be 
conducted on a best efforts basis and will be subject to a four month hold period from the date of share 
issuance. The Offering is subject to the receipt of all the necessary  regulatory and TSX-Venture 
Exchange approvals. 
 
 
CALGARY, Alberta – November 30, 2011: BNP Resources Inc. (“BNP” or the “Corporation”) would like to 
announce an offering of up to 1,666,667  Class A shares at a price of $0.06 cents per share for aggregate 
gross proceeds of up to approximately $100,000.00 (the “Offering”).  The offering will be conducted on a 
best efforts basis and scheduled to close within 30 days. The Offering is subject to the receipt of all the 
necessary regulatory and TSX-Venture Exchange approvals. 

 

 

Does anyone find this strange? Or am I looking into this too much?

post #898 of 2299

Perhaps they are considering increasing the amount of the PP if need be but didn't want to made it obvious?
 

Quote:
Originally Posted by TheBoomShow View Post

I was just looking over the last PP which was announced last week and I noticed something. This PP doesn't have a scheduled closing date of 30 days which all of the other PP's which have been done over the past 16 months have had. SEE BELOW:

 

 

 
CALGARY, Alberta – March 1, 2012: BNP Resources Inc. (“BNP” or the “Corporation”) would like to 
announce an offering of a private placement of up to 2,500,000 Class A shares at a price of $0.06 cents 
per share for aggregate gross proceeds of up to $150,000.00  (the “Offering”).  The Offering will be 
conducted on a best efforts basis and will be subject to a four month hold period from the date of share 
issuance. The Offering is subject to the receipt of all the necessary  regulatory and TSX-Venture 
Exchange approvals. 
 
 
CALGARY, Alberta – November 30, 2011: BNP Resources Inc. (“BNP” or the “Corporation”) would like to 
announce an offering of up to 1,666,667  Class A shares at a price of $0.06 cents per share for aggregate 
gross proceeds of up to approximately $100,000.00 (the “Offering”).  The offering will be conducted on a 
best efforts basis and scheduled to close within 30 days. The Offering is subject to the receipt of all the 
necessary regulatory and TSX-Venture Exchange approvals. 

 

 

Does anyone find this strange? Or am I looking into this too much?



 

post #899 of 2299


I thought that, but the same PP that I posted in my earlier post was increased in size. See Below:

 

 

CALGARY, Alberta – December 12, 2011: BNP Resources Inc. (“BNP” or the “Corporation”) would like to 
announce an amended offering from 1,666,667 Class A shares at a price of $0.06 cents per share for 
aggregate gross proceeds of up to approximately $100,000.00  as announced on November 30, 2011 to 
an offering of 2,833,334 Class A shares at a price of $0.06 cents per share for aggregate gross proceeds 
of up to $170,000.00 (the “Offering”).  The offering will be conducted on a best efforts basis and 
scheduled to close within 30 days. The Offering is subject to the receipt of all the necessary regulatory 
and TSX-Venture Exchange approvals.  
 
Thank you for your reply YoungInvestor89
Quote:
Originally Posted by YoungInvestor89 View Post

Perhaps they are considering increasing the amount of the PP if need be but didn't want to made it obvious?
 



 



 

post #900 of 2299

also L2

 

# Orders Shares Bid Ask Shares # Orders
1 15000 0.070 0.080 48000 1
6 156000 0.065 0.100 100000 1
3 133000 0.060 0.105 1000 1
1 10000 0.055 0.110 31000 2
1 10000 0.050 0.115 1000 1

 

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