how to put stop to an uptrend, page-6

Hello all,

Well interesting night on the Dow last night with oil surging and equities tanking.

In terms of BPT, one of the main reasons I have sold out (but I'm happy to trade it, if I get a chance) is because I realised I didn't really like the way the BPT business model is heading.

In recents times, we've seen Reg sell off an asset that is just beginning to bear fruit (Basker) and buy into a couple of offshore prospects.

To me, this is needlessly increasing the risk profile for BPT in what should be a period of consolidation for the company. I am not interested in projects in Egypt, et al, and BPT has absolutely no management experience with executing projects offshore. I hate sovereign risk.

Reg well may kick goals in Egypt, etc, but the market is going to be cool on these projects until the company can prove it can execute these kind of projects, and this overhang on the stock could nobble it just when shareholders could be enjoying the fruit of their labours. Working the CSM assets to me seems like much more productive use of management's time.

I've already mentioned that I think BPT would have breached $2 last week if not for the halt and placement. What will it do on Tuesday? Dunno.

Other opinions welcomed.