Sad stock and sad mgmt.
There is no hope here.
I think the air has been cleared with the latest deal. In fact Breitburn can be adventitious to perform acquisitions on gaining resource assets on the cheap. You will soon see. Bbep may be capable of enhancing its asset base 2x with the right moves. The stock is grossly underpriced right now.
I respect them for taking the time. But my question is they still think they made a good acquisition. But the timing was extremely poor and hurt the shareholders immensely. Today Breitburn is down while it's better piers are up. Breitburn is a poor investment.
Negative shows the ineptness of management as investor patience dwindles.
Yet the company sports 331 million barrels worth 5 billion dollars on a buy out. Probable reserves adds a lot more. I'd like to see a modest acquisition that would add 50 million barrels for a good in. Bbep should take advantage of cheap oil prices and build their base.