this week, page-33

malmanu,

Today was not a good and that DOW article was no help.

Some in the market (best guess shorters and those that panicked) used the news article as a excuse to dump BPT. The clarification from the company makes it quite clear that there was plenty of interest and there is still ongoing interest. Reg stated, "Confidential discussions were held with a number of selected parties, during which time Beach became greatly encouraged by positive results from its unconventional program. Beach subsequently terminated these discussions.
Beach continues to receive unsolicited approaches in relation to its unconventional assets. Beach has recently, in the normal course of business, entered into confidential discussions with certain parties in relation to various assets within its unconventional portfolio. These discussions are ongoing."

The fact the data room closed without a deal and in light of the continuing interest, implies that the parties could not come to a meeting of minds. Simply the values that were offered (if indeed they were) were not suitable to Beach. They have the cash, the are doing the drilling and are in the process of proving up what they think is a huge resource. I don't think anybody would be happy if they let it go for what in hind sight could later be construed a pittance.

I look forward to their continued drilling and proving up this gas resource. From their last statement they indicated they are now also looking at the prospect of the possibility of productive vertical wells. If this is the case it would be a game changer as the reliance on horizontal drilling would be removed.

This is all my opinion, but I don't see anything having changed with that story. Its the results that count not speculation.