Hi supermajor i dont think BPT has been punished more than most...

Hi supermajor
i dont think BPT has been punished more than most unless you are looking at a peak to trough comparison when BPT shot up due to the shale fever . The answer i think is shale sentiment( more realistic without the Euphoria) combined with overall oil sentimente. Many hedge funds pilled in during the shale excitment and although i think the story is very much intact, some of these instos may be selling. ( i note their is an ann that Nab reduced position)

I am keeping my eye firmly on the value and to me there is plenty there.
BPT is in discussions with many large players about a GSA for over 230 petajouls of gas - this is significant especially if it is oil lined with a floor.
BPT is going to come up with a big upgrade in reserves - this is also significant
it has had a very successful exploration year ( not that you would know it) and will incresae oil and gas reserves even after last years annual production
the next few years should also see more reserves added than produced( we heard how STO has brought forward drilling in its gas permits, this includes its conventional and CSG assets ) BPT will benefit from this step up in activity - it will transalate into much higher gas reserves - as this happens BPT will benefot from its GSA or from those looking to acquire all of their assets. I expect this year will see another 15-25 mboe addition in reserves.

i believe we will see a market update very soon( this week) - i expect this update will cover all the exloration activity and i am sure will gain comfort in BPTs value.
This year is a big capex year - but this capex will deliver much higher revenues for years to come with lower operational costs per abbrel of oil - for me it is so undervalued and so good from a risk perspective it is the stock that i worry least about in my portfolio. Lastly, you may remember the drag the CR had on the DLS SP for a number of months pushing it well below the CR level, i suspect the same may be happening here. if you are a buyer at these levels to upto 1.15 i really think you are a strong compnay at a great price

It i a tough market I agree but in the end companies with attractive and valuable assets will come out ok