MARKET TALK: BP Shares Not Worth The Risk - Investment Manager

[Dow Jones] Westport Resources in Connecticut, which manages $800 million of assets that include big U.S. energy stocks, three weeks ago sold all shares it held on BP PLC (BP). "It was no longer worth the risk," Joe Tatusko, the company's chief investment officer, tells Dow Jones Newswires. He is referring to the uncertainties about BP's liability regarding the oil spill in the Gulf of Mexico. Tatusko reinvested in other energy companies, such as Apache Corp. (APA), and Noble Energy Inc. (NBL), whose stock price is currently attractive. Westport Resources still has a small amount of shares of Transocean Ltd (RIG), the owner of the Deepwater Horizon rig that exploded and sank in April and caused the massive spill. The investment firm also has a significant position on Anadarko Petroleum Corp. (APC), which owns 25% of the broken well. Tatusko believes it's unlikely both companies will face a large liability. He believes Anadarko's shares could jump in coming months as the oil-and-gas producer is likely to become an acquisition target. -Contact us in New York at 212-416-2138 or isabel.ordonez@dowjones.com (END) Dow Jones Newswires June 17, 2010 16:34 ET (20:34 GMT)