BPI Announces Gas Reserve Report.CLEVELAND -- BPI (Bits Per Inch) The measurement of the number of bits stored in one linear inch of a track (storage channel) on a disk or tape. Bit density on magnetic disks has reached 800,000 bpi (800 Kbpi). See tpi, areal density and magnetic disk. BPI - bits per inch Industries Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BPR (Business Process Reengineering) See reengineering. BPR - Business Process Re-engineering ) today announced that it has received a reserve report from Schlumberger Data & Consulting Services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , its independent reservoir engineer. The report covers the Company's proved, probable and possible reserves in the Illinois Basin as of July 31, 2005. A copy of the report is available on the Company's website www.bpi-industries.com. About BPI Industries Inc. BPI Industries is a publicly listed (TSX VENTURE:BPR), oil and gas exploration and production company that currently controls 418,435 acres of coal bed methane rights in the Illinois Basin. In January 2005 BPI initiated sales of gas production from its Delta Project in Illinois where the company is actively drilling new production wells. As a corporation incorporated in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography with our stock listed for trading on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. , we are subject to the disclosure and other rules of the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
This press release is not an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any of our securities in any jurisdiction. Any such offer or solicitation will be made by us only in accordance with the requirements of the Securities Act of 1933, as amended. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. We caution you that the U.S. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to discuss only proved reserve estimates that are supported by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The SEC's rules prohibit us from including "probable reserves" and "possible reserves" in filings with the SEC. Please also be cautioned that the SEC views such "probable" and "possible" reserve estimates as inherently unreliable and misleading to a reader unless the reader is an expert in the oil and gas industry. If you choose to read the reserve report, you are urged to read the entire report, including the definitions of the various categories of our reserve estimates. The estimates of our natural gas reserves and future net revenues from the reserves are based upon analyses that rely upon various assumptions as to natural gas prices, drilling and operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , capital expenditures, taxes and availability of funds. Any significant variance in these assumptions could materially affect the estimated quantity of our reserve estimates. As a result, the estimates of our natural gas reserves are inherently imprecise im·pre·cise adj. Not precise. im  pre·cise ly adv. . Actual future production, natural gas prices, revenues, taxes, development expenditures, operating expenses and quantities of recoverable natural gas reserves may vary substantially from the estimates contained in the reserve report. In addition, the estimates of our natural gas reserves may be subject to downward or upward revision based upon production history, results of future exploration and development, prevailing natural gas prices, mechanical difficulties, governmental regulation and other factors, many of which are beyond our control. We undertake no duty to update this information at any time in the future. We also undertake no duty to make public similar reports that we may receive in the future. Any information contained in our reserve report regarding estimated future net revenues and values does not represent fair market value of any properties or rights discussed in the report. In addition, the estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. www.bpi-industries.com |
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