Hi Norto, I think 70c would be a fair offer price all things considered. From memory ID always considered SXY a $1 billion company, so as you pointed out that price aligns with that thinking. Remember SXY has spent $400 mill to develop it's assets over the last few years. Based on a market cap of $466 mill seems we are way undervalued. Then add onto that the upcoming cash flow and reserves. Pretty easy to see the disconnect. I think we should be trading around 40c-45c by early next year. Let's just hope the overall market and O&G sector stays supportive of the SP. I listened to an analyst the other day who was telling his clients to wind back Iron Ore positions and redeploy capital into the energy space. He felt the time to go was now while the sector is unloved. Maybe the CEO of BPT is thinking the same thing : )
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