Replies to post #2409 on Breitburn Energy Partners LP fka BBEPQ

[LarryAshy]

There was never an intent to go out of business...they were only looking to shed the deadwood of shareholders before the oil market makes its turnaround.

[Imagineer66]

As Larry said, they never intended to shut the business down. Hence, a Ch 11 vs Ch 13 BK. That being said, everything they are producing says that this was always a viable company and never should have entered BK in the first place.

OTOH, I am a bit thankful. Mom always told me to make hay while the sun shines. I have been an investor in BBEP/PP on and off since November of last year. Luckily, I was always able to exit at a profit before the BK. I took a seminar from Larry Williams in the '90s that talked about exiting any position at a 10% loss regardless of what you think about the company. When I failed to heed his advice, I learned the hard way. (Cisco in 2001 was a REALLY hard lesson.) Since then, the BK has made me and several friends many multiples of our money because of the price collapse. Bought at $0.06 sold at $0.49; rebought at $0.33. Not trying to brag, just thanking the gift horse.

I know the BK hurt a lot people, hopefully some of them will be able to ride it back up.