name and shame, page-13

colquhoun

Yes I understand what you are saying however at 8 million barrels of oil equivalent production that's alot of revenue for the next few years. As you say that even with what they have done - reserve replacement, that still means the company is still very undervalued.

I do think the uncertainty with BMG and whether they proceed to try and develop oil or gas may be a drag on the SP at present. I persoannly hope the dont

The oil industry is not an easy business, however BPT's current assets and revenue allow expansion at a reasonable pace and risk.

I dont know much about the Gas story but if it was successful, BPT would be similar to oilsearch 10 years ago, held back by a project most analysts doubted was going to get off the ground. incidentally it was trading about about 60-70 cents. A few years later OSH is 5 dollars plus and the rest is history

Also the dividend, assuming 1.75 cents per year at these levels is a reasonable return and assist with the cost to carry - approx 3%