You should have two files when the export has finished. A mymodel.xml file and a mymodel.mdl file. Post the contents of the xml file so we can see just what you are trying to compile.

Also, using drag and drop is a poor way of doing things as you won't see if there are any errors. Put bglcomp.exe in your C:\Windows or C:\WINNT directory so you can call it from anywhere. Then open a command prompt window in the directory where your xml and mdl files are and compile with the command

bglcomp.exe mymodel.xml

Lou