John, I would say it is disappointing, but not a material loss. BPT explains that the overall effect will be a reduction of about 100k for the year, as by year end they will have completed the new pipeline with expanded capacity.
So, production from 7.5 Mil boe to 7.4 Mil boe is not substantial. I would also add, that over the past year, most of the interest in BPT has been regarding PEL218, which currently produces nothing yet. Also, the Egyptian production might surprise to the upside over the year ahead, so could easily be balanced out.
If BPT get down to $1, I will be reducing other holding to add to my position, BPT is a real gift right now.
BPT Price at posting:
$1.07 Sentiment: LT Buy Disclosure: Held
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