GuysIMHO this is an opportunity to buy if you can, or average...

Guys

IMHO this is an opportunity to buy if you can, or average down.

Can anyone tell me anyone reason why this price doesn't reflect outstanding value. I understand the stock has been frustrating and alot of people have bought in at higher prices however the BPT has millions of barrels in reserve which simply aren't easy to find. Companies spend millions to find oil with probabilities of success as low as 5% sometimes. The average cost to find a barrel of oil with what is considered to be a successful exploration program is in the 10-20 dollars At present BPT has 66 million barrels which valued beach reserves at about $9 per barrel if you include cash and in addition they have a massive contingent resource upside. In addition most of its oil reserves are produced at a low cost allowing profitability even with low POO.

Exploration and development funded through cash and cash flow.

I am looking hard but cant find a reason that this isn't a buy. When the SP reflects the value is anyone's guess but I am confident downside from this point is limited and upside much greater