Suzke,While BPT Management was "deficient" in closing out the...

Suzke,

While BPT Management was "deficient" in closing out the oil hedges 3 days before the absolute top of the oil price market, $50M does not equate to $500M being sliced off your market capitalisation in 3-4 months.

However, it probably was a "trigger" (including a loss of confidence in BPT Management as Commsec so eloquently put ii in its August 2008 research report) for institutional holders to sell all or part of their holdings!

This latest large gas discovery, is so much more than a "small drilling success". Even the Adelaide bunker was excited about it, enough to put out 2 press releases and more importantly before the normal Wednesday drilling report. So that tells you something there straight away!!!

IMHO, this latest gas discovery will be a "trigger" for people (possibly institutions) to get back into the stock.

In terms of institutions getting back into the stock, the TW CSM holdings (and possible full or partial sale) is as much of a reason as any.

So much for my theory on being a U shaped sp recovery, looking at the graph over the last 3-4 days shows it to be a big V shaped recovery.

Cheers