breaking out the passion pop, page-42

"EBITDA does not even cover interest costs so unless a raider comes along, BBP's price is going nowhere.
Where were GPG today? A prime opportunity but alas, no where to be seen."

Not true. Interest cover for FY06 is forecast to be 1.6x.

BBP only has to make it through the next year when cashflow from Alinta will increase significantly. In the meantime the 22% increase in the WA gas tarrif and the Olympic Dam contract will help to stave off any moves by the BBPF syndicate.

Even if BBP do drop below 1.3x interest coverage in that time let's see if the banks are brave or stupid enough to make a play for the $1.3B in shareholder equity. If by some remote chance that does happen shareholders would be looking at 30c/share realised from the sale of assets after liquidation costs imo.

IMHO under 10c is a bargain.