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Alias Born 12/06/2006

Re: tuscadeep post# 24

Wednesday, 12/13/2006 7:08:45 PM

Wednesday, December 13, 2006 7:08:45 PM

Post# of 35
To determine if BLMC is a value investment, there is only one operative and relevant question to answer: how much gas is on the remaining BLMC acreage? Every other question about this company is just noise. If the 3D seismic recently completed were to show significant gas reserves, then of course this could become a very significant "value play" assuming, as stated previously, that the stock price does not appreciate to reflect the value of the known reserves. With “proven” gas reserves, things like lease rates, pipelines, selling 3D seismic data become part of the value analysis, but they are of secondary consideration.

To the extent there is no gas or insufficient gas on the remaining acreage to justify leasing and drilling to any great extent, then the price at which acreage is leased becomes irrelevant. The value of a pipeline in marsh lands with little or no gas is of little value, probably not even as scrap given the cost of removal. The value of 3D seismic data on marsh lands with little or no gas probably has low resale value, if any.

Finally, the genesis of my handle name, how I learned about the stock, why I am intrigued by the stock, whether or not I own stock in BLMC or TMR, whether or not I am directly or indirectly involved in either company is hardly relevant to the fundamental question that needs answering if BLMC is to be considered a value investment vs. a speculative one.

This dialogue needs to focus specifically on trying to ascertain the results of the 3D seismic on BLMC’s remaining acreage.