old hc back, page-18

There is a lot of heat on show here, and I'm not sure that is justified.
The company didn't advise a weather related shut in. Big deal. Nobody in the JV would have expected the decline when they opened it up again.
If they had announced the shut in, would you have sold? I seriously doubt it.
The decline is disappointing, depending on what now happens with decline rates, and whether we can establish what caused the decline during shut in.
I agree that management has been less that sharp in handling BPT's announcements. For their own reasons, Beach are playing down the unconventional tests (my guess is they have an acquisition in mind apart from any move on ICN). This doesn't suit ICN, obviously, and as we saw with previous announcements, ICON needs to be on the ball with their own releases to give the extra detail and context that the uneducated market needs.
For mine, this price is devastating for LT holders, and I sympathise, but I will be liquidating some other positions come Monday to acquire more ICN because this stock is going to get taken out at this level, so I might as well pick up some gains on the premium.
Even with a 50% premium, BPT can have ICN for $120m and not have to stump up the $18m for the option.