Yes Auto. One good thing is that if the company is good, one can...

Yes Auto. One good thing is that if the company is good, one can survive getting the entry point wrong. As much as the reserves upgrades are vital and value adding, BPT's ability to monetise these reserves through increased revenue and profits are a major key and sets them apart from many others, who have plenty of asset value to support MC but little or no cashflow. With discoveries in place to easily replenish reserves, and continuing infrastructure development to improve efficiency and output BPT have the elements to increase revenue and profits dramatically. I see this as a major pivot point for SP rerating. The SP doesnt reflect any value for the shale at the moment, which is odd considering $150 million odd has been spent and BPT have the most advanced shale development in Australia. If it happens not to succeed(which I doubt) the expenditure to date only represents about 12.5% of current MC. If it succeeds, it could dwarf current MC. Then you have Tanzania potential and everything else as well as an excellent cash position. All things considered, it seems extremely good value when compared to SXY for example.