It just doesn&#x27;t add up. If their reserves are actually worth that much to a private equity investor, why are they supposed to be so worthless to BP (and Shell and Exxon ...) that it should liquidate itself?<p>These assets are either profitable or not. If they are profitable, why sell them? If they are not profitable, why buy them? It can&#x27;t be both. Not for an entire industry that is.