British Petroleum: Time to buy?

Someone asked me if it is time to buy shares of British Petroleum (BP) since it has declined so much and looks cheap.  I said honestly that I don't know as I only buy Singapore stocks.  I saw this on TechTicker and would like to share with anyone who is thinking of buying BP shares:

"There's still a ton of risk," says Chris Edmonds, managing principal with FIG Partners' Energy Research & Capital Group. Edmonds believes it's very possible BP can survive the economic damage caused by the oil leak, but can the company survive the political fallout?