fair takeout price?, page-11

Yep I'm still in, I have around 75% still invested in BPT. Took some money off the table at 1.20 and 1.39 but now I'm in for the (hopefully very exciting) ride.

As for buying some more, you could argue that buying a rising share is better than trying to catch a falling knife. Not really sure about buying more at these levels, I love a bargin but I love seeing the dollars keep ticking over as it rises.

I guess you have to ask yourself: If shale gas turns out to be commercial as the share price is now expecting, how much money will we need to make to make Beach a $2B company. We really need at least 200 mill per year earnings, where is that going to come from. OK well we have 7.5 MMBoe production guidance this year and a number of larger than expected finds (Growler, Bauer), with development finds still to gain traction and exploration under way (Tanzania).

I think success is now half baked in and brokers are scrambling to find ways to justify the current share price. Watch for a fresh new round of outperform and buy reco's.

Reg has identified an opportunity a few years back of a lack of contracted Gas in the pipeline and he's now cashing in bigtime on that call. He saw shale gas taking off in the US and he's now reaping that reward. Surely a major will start to take notice soon if they haven't already.

The market is basically going to force someone's hand. Would it possibly be prudent to raise some capital at this point? Surely there would be plenty of institutional buying support at 1.50 now that we're over that hump?