In at 46, and I know that this may drop a little but as you've seen the lows aren't quite as low now, and the highs are pushing the 60 envelope. Break through 60 and maintain that level, then we're not going to approach the low 50's again save some world economic disaster.
Why would oil drop now that it is clear that recovery is on the way? Maybe it won't reach $200 a barrel as some wags are predicting, but the odds of a material retreat in price seem slim. BP is as well positioned as any oil company to take advantage of the trend, plus natural gas has nowhere to go but up and BP is the largest holder of nat gas reserves in North America. This stock looks like a near-term winner to me.