I too love BPT and have been holding since 40c, with more picked...

I too love BPT and have been holding since 40c, with more picked up all the way to $1.40. From all accounts it is a great story with Cooper Basin, BMG, Tipton etc production and reserves growing all the time. On face value, BPT's fundamentals are as good as any in the second tier oilers, if not the best.

So why the sp drop? I think we need to take the emotion out of this stock, or any other oil & gas stock for that matter. Check the 12-month charts of BPT against AZA, ARQ, ROC, TAP, AWE & HDR (before the takeover) and STO. They've all gone in the same direction because of the negative sentiment around the whole sector at the moment.

Expecting the BPT sp to recover to $1.40 or $1.70 by the end of the month is a unrealistic, but it's probably at levels where we can safely accumulate more with the expectation that the inevitable turnaround in sentiment will see BPT and other quality stocks rerated in the medium term.

Spec