"...So why that price?". The authoritative answer lies with Bill...

"...So why that price?". The authoritative answer lies with Bill Parfet and his fellow POH directors.

On August 13 - before BP officially came on to the scene - Beer & Co valued the company at $5.10 a share, almost 10 times the then price of 55c.

Beer's research - and valuation - was paid for by PuriflOH.

Then, on December 13 - a few weeks after BP paid $2.40 a share - Beer & Co, lifted its valuation almost fourfold to $20.

When Beer & Co next publishes a report - probably within three months - the valuation may be upgraded, possibly to ~$30.

How smart was/is BP?