Ann: FY23 Third Quarter Activities Report, page-117

https://oilprice.com/Energy/Energy-General/US-Economy-Teetering-On-The-Brink-Of-A-Recession.html

A good little overview of the economic conditions, which is mainly USA focused. Interesting that they expect bullish oil and gas prices again later this year. Primarily as OPEC production cuts start to pull back this excess supply we have seen in the market in recent times.

Some economists are already saying the US is in a recession, others are unsure. However Imo, as borrowing conditions continue to get harder with rising interest rates, people will have less disposable income, so we will probably start to see a lag effect of consumer spending diminish and that’s when the real problems will play out.

Hopefully BPT can capitalise on the better oil and gas prices in H2 2023 with some good operational news.