Of course. Just thought I'd throw out a different perpsective.
I am also a BTE shareholder. It is my second largest holding in the oil and gas space after PWE, though PWE is multiple times bigger. As you mention, BTE is more speculative than PWE at this point. They have a larger debt load and require higher oil prices both to break even and make money. So, BTE is certainly more susceptible to oil price declines than PWE. However, they have a good bit of time until debt maturities; I like their management for the most part; and I am bullish on oil prices. $60+ WTI should be very favorable for BTE. I think BTE is going to be a great investment at some point this year.
As a general matter, I would not invest in anything that I think needs $70 or higher WTI. Could happen, but I have much less confidence. Many companies that needed $80 WTI are already bankrupt. Some other companies may not need $70+ oil to survive, but are going to need that for investors to make any money. PWE and BTE shouldn't need $70 WTI this year for us to do very well.