Ann: Waitsia Stage 2 update, page-58

Funnily enough, i have bought back in only a few cents less than i sold them at.
I have had a good look at the mathematics & metrics of BPT and i like it a lot.
Whilst fair enough you could say it is a trader of Assets, it paid down Lattice quite quickly.
Coal seam...got out of that...and large parcels of up coming feed line resources will off set any downward pricing mechanism and the Saudis will step back in of course to keep paying down the debt burden so oil pricing between a range of $75 to $90 to pin the tail on the donkey.
The costings and its blow out can not be maintained as a management f* up...contractor, Gov red tape and Unionised work places will always be the undoing on many a project in the past and on into the future...its a fact of life in Australia.
I have no idea where some of these analysts get the $2.50 & $3.00 pricings from, over $2 in due course yes but i dont think much above that unless it pulls more rabbits out of a hat.
Of course all possible...but at $1.595 its a gift, i should have held but there you go...im back in again....
Dont know if it will pay .10 for EPS over & above but anything above that would also be a gift at these pricings.
I would like to know more about its swap arrangement if anybody knows a bit more to that...i could not find a lot on that and its third party arrangement with regards to how much, from where and why until full production.
14% LVR is nothing & a PE lets say 13 is average market historical value.
I like it.
Happy to average down should it fall below $1.50 or lower should the world hit shit street.
All the best to traders & long term hoders.
RDD