should BPT take out ICN now?, page-15

A bit like CEOChair, I think there will be a string of corporate events for players in the Cooper. The Chevron deal was the spark that lit the fuse, and they will end up with a smashing success at what will end up being a bargain price.
Stragglers will be left fighting over the scraps, with each deal attracting more interest as nobody wants to be left out of the Cooper.
I think BPT will end up with the lowest acreage sale price (but retain a fairly substantial interest), with the next deal worth more and the deals after that getting into a bit of a frenzy. And the remaining players will all see their prices bumped up after each deal gets done.
I think the best way to play it is to take a stake in each of the significant Cooper players, favouring those with good leverage (so STO might be a bit much, although BHP...?).
To that end I've been shopping this week in ICN, SXY, STX and looking at a couple of others. And I'm holding my BPT. I suspect that Reg will have a "I told you so" moment coming up that makes the Chevron deal look smarter - although this is just my suspicion as it seemed to simple a story for a guy who is a pretty crafty operator.
And the rest of BPT's assets, and the remaining Cooper exposure are pretty sweet.