Ann: Monthly Drilling Report - November 2014, page-13

all fair auto - I learnt a long long time ago not to try and follow others, and I suspect you are a bit quick on the trigger for me! funny I first noticed you I think with dls and bpt , and I dont put those two in the same vein as sxy and sto in terms of the people running them (refer my post with sxy where I give management a spray) - to be consistent however, I feel bpt will have to have a hard look at their expenditure also!!! I still held a few of bpt and sxy before this latest rout (but I had done very well by selling most bpt and sxy at very good prices ) - been a bit too early to buy some back in though, and went too early with dls as well!!

I know there are plenty of people who dont like bpt management and they may be better informed than I; but I would hold them all irresponsible for not hedging much, particularly when they have high capex scheduled! . It seems (reading post of yours re research on dls), that dls may have done best of all of them in this regard! At least Reg got Chevrons money (some anyway) and the shareholders with the big issue;, and sold csg at good time and a few other things - should have sold Middle East production I guess!