BPT and other shale gas/oil explorers

In Oct 2011, BPT share price has come up but in spite of good announcements, it 'languished'. Hence I topped up at $1.13. Last Friday, it was at $1.55. I collected BPT in two portfolio, one rising over 100% and the other over 70%.

Shale gas and oil are big news in the USA. It probably explains why the USA is starting to come out of its doldrums. No one seems to have given credit to the cheap, widespread and abundant source of energy. There is even potential for exporting but gas is expensive to transport as liquefaction is required to condense the volume. And you need special containers and storage facilities.

Having saturated the American market, proponents of shale gas are starting to move downunder. BG has just moved into Drillsearch.... a partner of BPT in South Australia. This must be the reason for the revaluation of BPT. I have been topping up many times now and glad that I have never sold any even when it kept falling. The wildcard is China... it has the world's biggest estimated reserve of shale gas and it has already been successful in Sichuan at exploration.

In Australia, my OBL has now just gone green. CTP is still underwater, but I suspect not for too long. COE is marginally positive while ICN is still a loss but recovering. MMR was murdered after failing to find the much hyped oil and gas in Sydney Basin.