BPT 14.1% Div and at 52 week low Message Board

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Gold/Mining/Energy : BPT 14.1% Div and at 52 week low

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From: B.K.Myers	8/7/2006 12:30:39 AM
	of 26

ANCHORAGE, Alaska - In a sudden blow to the nation's oil supply, half the production on Alaska's North Slope was being shut down Sunday after BP Exploration Alaska, Inc. discovered severe corrosion in a Prudhoe Bay oil transit line. BP officials said they didn't know how long the Prudhoe Bay field would be off line. "I don't even know how long it's going to take to shut it down," said Tom Williams, BP's senior tax and royalty counsel. Once the field is shut down, in a process expected to take days, BP said oil production will be reduced by 400,000 barrels a day. That's close to 8 percent of U.S. oil production as of May 2006 or about 2.6 percent of U.S. supply including imports, according to data from the U.S. Energy Information Administration. news.yahoo.com I suspect that BPT will be hit pretty hard Monday morning. I'm thinking that I will probably sell my shares and wait until the fields are ready to come back on line before reinvesting. B.K.

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