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Beach Energy Ltd (BPT) $1.64

BPT tumbled -9.9% yesterday making it the worst performer on the ASX200, the blame is being put at the door of Clough who went into administration this week, the builder was contracted for both engineering and construction work at BPT’s Waitsia Stage 2 project hence major delays are now feared. Also, Gina Rinehart’s added to the company’s tough start to December by announcing a competing offer for Warrego Energy Ltd on Monday.

  • We think BPT is simply too hard viewing their assets as challenging – our clear preference is WDS and STO in the sector.
BPT
MM is neutral/negative BPT at $1.64
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Beach Energy Ltd (BPT)
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