did nelson sell out too cheaply??, page-16

Clarkie, thanks for the list of duds....perhaps I forget them more readily because I view them as part of the play. Perhaps I am too dismissive of the failures. Perhaps I am back on the wrong horse, but at these prices I am accumulating.

Looks like we agree on one thing, oil exploration is an expensive and risky business.

Do you want BPT to stop drilling?

For me it is a question of balancing the safer bet plays such as the Cooper and BMG with the riskier high impact drills.

For example, in Egypt, where BPT management state that "the Company is now moving to develop this area as a core focus region for Beach", they have attempted to balance risk and reward by buying into North Shadwan which will produce (albeit modestly) from the end of this year with the high impact opportunity of South East July.
Whether the "core focus" remains for BPT in Egypt, I don't know, but management had clearly identified an opportunity here.

Clarkie, you and I have had this discussion before, I suspect your expectations of management are more conservative than mine. Oil companies tread a fine line in when it comes to their raison d'etre, but ultimately they will be judged by the market in their ability to raise their 2P and 3P.

Meanwhile, the questioning of management decision making is to be encouraged, but I found the bashing regarding Tipton sale had gone too far, in my mind.