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To: westslope who wrote (19034)	4/27/2012 1:33:42 PM
From: JimisJim	1 Recommendation of 21484

<What happened to the "failed Shell deal"? > They spent a couple years negotiating a JV with Shell, and looked like it was going to be a done deal, but fell through at the last min., which was about the time BPZ's less than stellar performance offshore (and onshore with the turbine deal) began their continual struggle for money, including a couple rounds of share dilution... I think the JV with Pacific Rubiales is a better deal and a better fit for BPZ and is the first "good" news out of them in a long while. However, current BPZ management has not changed, and I have no confidence in them. Perhaps Pacific Rubiales will help them turn around, but I am not trading/touching BPZ shares regardless. There are many other jrs. (listed and discussed here often enough) that offer better risk/reward, IMO.

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To: architect* who wrote (19029)	4/27/2012 1:33:55 PM
From: westslope	of 21484

re: Contingent resource liabilities Thanks a*. That is a very interesting way to look at things. I guess I tend to usually assume that short-term movements in share prices are often mostly noise. Moreover, whether the so-called risk trade is off or on, cash-flow rich explorers who report non-commercial wells typically sell off hard and that situation can provide buying opportunities for those investors who believe in the entire exploration program. For me this is about different investor types and different investment strategies that drive short-term share price movements. Man, you just gave me a lot to think about!

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To: kidl who wrote (19041)	4/28/2012 2:38:27 PM
From: westslope	of 21484

re: less nat. gas pipeline capacity for the WCSB -- Investment opportunities kidl: Correct me if I am wrong but if TRP follows through, there will be a reduction in demand for WCSB natural gas and WCSB prices will decline further (if that is possible). How can investors exploit this? - I've been buying lots of Canadian Oil Sands recently. Heavy oil projects in WCSB will benefit from natural gas at throwaway prices. I reckon the bad news from Coker outages, high Alberta input costs, Cushing congestion, insufficient pipeline capacity and probably no Northern Gateway Pipeline are already priced in. - sell short Canadian natural gas producers. Is there still room for significant decreases in equity value? - I'm not aware of any instruments levered to WCSB natural gas by itself. - buy TRP.to on a sell-off, which, frankly judging by the chart, may not materialize Other ideas?

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