Bpi (AMEX:BPG)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Bpi Charts. Click Here for more Bpi Charts.](/p.php?pid=staticchart&s=A%5EBPG&p=8&t=15)
BPI Energy Holdings, Inc. (AMEX: BPG), an independent energy company
engaged in the exploration, production and commercial sale of coalbed
methane (CBM) in the Illinois Basin, today announced that the Twentieth
Judicial Circuit Court in Perry County, Ill., has granted summary
judgment in its favor with respect to the previously announced
litigation with ICG Natural Resources, LLC.
The litigation was related to coalbed methane lease acreage rights in an
area covering approximately 64,000 acres in Macoupin and Perry counties
in Illinois. In its ruling, the District Court also denied ICG’s
motion for a summary judgment and found the CBM leases in question are
valid.
James G. Azlein, BPI president and CEO, stated: “We
are gratified that the District Court ruled definitively in BPI’s
favor. In our view, justice has prevailed in this case.”
To be added to BPI Energy’s e-mail
distribution list, please click on the link below: http://www.clearperspectivegroup.com/clearsite/bpi/emailoptin.html
About BPI Energy
BPI Energy (BPI) is an independent energy company engaged in the
exploration, production and commercial sale of coalbed methane (CBM) in
the Illinois Basin, which covers approximately 60,000 square miles in
Illinois, southwestern Indiana and northwestern Kentucky. The company
controls a large CBM acreage position in the Illinois Basin at
approximately 531,000 acres.
News releases and other information on the company are available on the
Internet at: http://www.bpi-energy.com
Some of the statements contained in this report that are not
historical facts, including statements containing the words “believes,”
“anticipates,” “expects,”
“intends,” “plans,”
“should,” “may,”
“might,” “continue”
and “estimate” and
similar words, constitute forward-looking statements under the federal
securities laws. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements, or the conditions in our industry,
on our properties or in the Basin, to be materially different from any
future results, performance, achievements or conditions expressed or
implied by such forward-looking statements. Some of the factors that
could cause actual results or conditions to differ materially from our
expectations, include, but are not limited to: (a) our inability to
generate sufficient income, obtain sufficient financing, close an
offering of debt or equity securities, or complete a merger/combination
or other transaction that would enable us to fund our operations; (b)
our inability to retain our acreage rights at our projects, at the
expiration of our lease agreements, due to insufficient CBM production
or for other reasons; (c) our failure to accurately forecast CBM
production; (d) displacement of our CBM operations by coal mining
operations, which have superior rights in most of our acreage; (e) our
failure to accurately forecast the number of wells that we can drill;
(f) a decline in the prices that we receive for our CBM production; (g)
our failure to accurately forecast operating and capital expenditures
and capital needs due to rising costs or different drilling or
production conditions in the field; (h) our inability to attract or
retain qualified personnel with the requisite CBM or other experience;
(i) unexpected economic and market conditions, in the general economy or
the market for natural gas; (j) limitations imposed on us by our Credit
Agreement with GasRock; (k) our ability to repay or refinance the
amounts advanced to us by GasRock when such amounts become due; and (l)
potential exposure to losses caused by our derivative contract. We
caution readers not to place undue reliance on these forward-looking
statements.