Ann: Monthly Drilling Report August 2016, page-34

oil rises BPT falls remember.....my golden rule!

what concerns me (as i am waiting for a much lower re-entry) is
1) BPT not linked to POO, nor has been since DLS really
2) has gone up strong the last few day (4-6%) vs peers and vs POO

last time (2) occurred....was during the lead up to the 1.25:1 offer for DLS.....so...probable reasons
- artificial p&d to raise price prior to another t/o
- insto P&D to offload stock
- another step down in stock price heading our way (similar to when it was trade bound around 60c mark, then stepped down sharp to 52-56c range.)

any m&a will hammer BPT, took mths to recover slightly from DLS....but i wouldnt mind a 30's entry....

if OPEC carries on its tradition of rebuttal.....sub 50c for sure...ORG and WPL starting to look appealing....may go there

GLTAH