calling bpt chartists, page-3

Captain,

Any information is useful, so thanks for the feedback.

As you indicated, the peer consensus is a “strong buy” and from the readings on this forum we have strong conviction in where the share price is going.

Also, don’t forget that Commsec recently gave BPT a Buy/Outperform rating (full report to be released on 28 Oct 2007: short term over the next 6 months, "Buy" means appreciate by >10%; long term over the next 24 months, "Outperform" means exceed market return by >5%), which is not included in the above 4. Should make for some interesting reading around the time of the release of 1st quarter ASX results!

Regardless of how much, over the last week, the market has tried to force the BPT share price down it has acted like a dog straining on its leash. I am still waiting patiently for the catalyst to unhook that leash (possibly restart of full production from BMG??)!!

Once it is off the leash, IMHO the Beach will run all day.

We have certainly had some potential catalysts over the past few weeks:

1. Cash of $123 million received from sale of 10% of BMG;
2. Callawonga oil field reserves upgraded to 5-6 mmbbls (gross);
3. AZA potential takeover (but not by BPT); and
4. Tapis oil price continuing to hit US$86 bbl.

Offsetting the above are of course the uncertain results from the NZ drilling and the unfavourable FX rate.

Would of course still like to here from the chartists/ technical analysts out there!!