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  #61  
Old 04.08.2010, 19:29
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Re: Good time to buy shares in BP

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I do see your point, but causing it in the first place should never have happened. Something like this is never 100% preventable but the odds of this happening were raised much higher by BP and their drilling partner. Thats why they should now catch hell for it. Hopefully the anger stays long enough for some meaningful legislation to be put through to prevent a repeat
Agreed. The reason behind this mammoth cockup to start with was a bit like the bank scenario, i dont think the big wigs really knew how risky these deeper explorations were, and if they did they certainly had no contingency. Especially when they stood to make so much money. There is also the factor of being less dependant on the Middle East and Russia etc.
The American public can't just turn round and blame BP for this, the American coast guard were signing off these explorations. It's BS. The people responsible should be held accountable. But they wont be.

If you want to invest take a look at RBS LLOY or BArcap. They have all rallied well from the recent recovery (BArcap 28% in about a month) May be a slight dip now, wait to jump back on. (do your own research as you may be aware RBS/LLoy will be sold back in chunks sooner or later)
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  #62  
Old 04.08.2010, 19:56
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Re: Good time to buy shares in BP

Just listened to the White House press conference. Beggars belief.
Most of the oil released has disappeared and no longer presents a threat to the environment.
What oil is left on the surface is very dilute and in the process of degrading or dispersing very rapidly. Dilution levels are in terms of parts per million.
Most of the oil which escaped was captured at the well site, evaporated, degraded naturally, or dispersed naturally due to mother nature. Very little was cleaned up due to chemical dispersants or beach clean ups. Yet they claim victory for this "government wide effort."

Furthermore the success of the static leak was something Government spokesmen stressed "we" have achieved.

Nobody expected them to apologise to BP. But no mention, let alone thanks to the efforts of BP engineers who in anybody's book have done a terrific job to stop the flow from a 5 mile deep well lying 5,000 feet below the ocean. Also no recognition for the way BP has not shirked it's responsibilities to do and pay what it takes to deal with the consequences.
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  #63  
Old 05.08.2010, 00:53
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Re: Good time to buy shares in BP

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Just listened to the White House press conference. Beggars belief.
Most of the oil released has disappeared and no longer presents a threat to the environment.
What oil is left on the surface is very dilute and in the process of degrading or dispersing very rapidly. Dilution levels are in terms of parts per million.
Most of the oil which escaped was captured at the well site, evaporated, degraded naturally, or dispersed naturally due to mother nature. Very little was cleaned up due to chemical dispersants or beach clean ups. Yet they claim victory for this "government wide effort."

Furthermore the success of the static leak was something Government spokesmen stressed "we" have achieved.

Nobody expected them to apologise to BP. But no mention, let alone thanks to the efforts of BP engineers who in anybody's book have done a terrific job to stop the flow from a 5 mile deep well lying 5,000 feet below the ocean. Also no recognition for the way BP has not shirked it's responsibilities to do and pay what it takes to deal with the consequences.
it's ok. we all know politicians are tw@ts. blame bp for everything make things worse by distracting them while they try to clean up and then take credit for it at the end.

press conference is a positive though - with such good spin, maybe paves the way to taking a softer line on BP. and being a new BP shareholder, it's all good for me
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  #64  
Old 05.08.2010, 00:55
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Re: Good time to buy shares in BP

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I just bought today for 385p, looks good value to me
standing at 420p now. so pretty good
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  #65  
Old 14.12.2010, 15:25
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Re: Good time to buy shares in BP

share price now at 475p

http://online.wsj.com/article/SB1000...071695898.html

BP announced today that it has entered into an agreement to sell almost all of its exploration and production assets in Pakistan to United Energy Group Limited (UEG).

UEG will pay BP a total of $775 million in cash for these assets which consist of nine producing and exploration blocks in Sindh province and four offshore exploration blocks in the Arabian Sea. The assets are held by BP Pakistan Exploration and Production Inc., BP Pakistan (Badin) Inc. and BP Exploration Alpha Ltd. The transaction is expected to be completed in the 1st half of 2011.

The sale of these interests in Pakistan is part of BPs plan, announced in July 2010, to divest up to $30 billion of assets by the end of 2011. Before the agreement to sell these assets in in Pakistan, BP already had sales agreements in place totalling approximately $21 billion. The proceeds of this latest sale will be used by BP to increase the cash available to the group. BP group chief executive Bob Dudley said: "Today's agreement is further evidence of the rapid progress BP has made towards the divestment target we set out last summer. We now have agreements to secure the majority of our divestment target. We are continuing to identify further assets that may be strategically more valuable to others than to BP as we complete the programme."

Under the terms of the agreement, UEG is required to pay BP a cash deposit of $100 million with the balance of the proceeds due on completion of the sale.

Completion of the transaction is subject to closing conditions including the receipt of all necessary governmental and regulatory approvals.

BP Pakistan's current net production is about 35,000 barrels of oil equivalent a day (boed). Gross oil production is around 10,000 b/d while gas production is approximately 200 million standard cubic feet a day.
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  #66  
Old 14.12.2010, 15:31
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Re: Good time to buy shares in BP

sold today at 471p, maybe it will go higher. but as a rule i always sell if i get 20-25% profit!

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I just bought today for 385p, looks good value to me
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  #67  
Old 14.12.2010, 15:37
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Re: Good time to buy shares in BP

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sold today at 471p, maybe it will go higher. but as a rule i always sell if i get 20-25% profit!
Drinks on you then this weekend?

I'm free Friday in Pickwicks
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  #68  
Old 14.12.2010, 17:26
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Re: Good time to buy shares in BP

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sold today at 471p, maybe it will go higher. but as a rule i always sell if i get 20-25% profit!
i would have been tempted to try to sell at 474p - unfortunately, i haven't yet photocopied my swissquote password card so will need to wait till i get home.

my target has been that the price would recover to the 500p mark.
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  #69  
Old 14.12.2010, 17:43
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Re: Good time to buy shares in BP

there is a good chance that the momentum will continue and the share price will touch 500p

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i would have been tempted to try to sell at 474p - unfortunately, i haven't yet photocopied my swissquote password card so will need to wait till i get home.

my target has been that the price would recover to the 500p mark.
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  #70  
Old 16.12.2010, 10:38
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Re: Good time to buy shares in BP

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there is a good chance that the momentum will continue and the share price will touch 500p
whoops. was on business all of yesterday so no chance to sell. price back to 465p today. but i think it should recover the lost ground again.
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  #71  
Old 16.12.2010, 11:22
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Re: Good time to buy shares in BP

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whoops. was on business all of yesterday so no chance to sell. price back to 465p today. but i think it should recover the lost ground again.
Talks of the law suit by the US goverment over the next 3 months or longer is not gonna help the share price...
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  #72  
Old 23.12.2010, 11:54
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Re: Good time to buy shares in BP

Very interesting. You guys must be loaded

Do you have to have lots of capital to start doing this?
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  #73  
Old 04.01.2011, 16:38
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Re: Good time to buy shares in BP

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Talks of the law suit by the US goverment over the next 3 months or longer is not gonna help the share price...
495p today. almost reached my 500p target. though i'd think most would cash out now at 495.
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  #74  
Old 04.01.2011, 16:53
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Re: Good time to buy shares in BP

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Very interesting. You guys must be loaded

Do you have to have lots of capital to start doing this?
no. you just need a good frame of mind. most people are afraid of losing money by investing in shares or other things, but are happy to lose money by 'doing nothing'.

for example, if you had 6,000 a few months ago and 6,000 still now, most people probably wouldn't be too bothered.

however, if you imagine at the time of having 6,000 you asked yourself the question, is cash sterling the best place to park my money (and my answer would emphatically be "no") then you could put it elsewhere.

if you put it into BP shares at 300p, you would have had 2,000 shares. now worth 10,000. i find it helps to think the other way around too. imagine you had 2,000 BP shares. would you at that time SELL them? if so, you would have made a 40% loss.

similarly, if you compare GBP against CHF or gold, you'll have made staggering losses by holding onto sterling.

if you have spare cash, then you have to park it somewhere, unless you think that holding cash is the best option, then it makes sense to be doing something. though if you get paid in CHF, it's probably not bad to hold it in an interest bearing CHF account.
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  #75  
Old 04.01.2011, 17:08
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Re: Good time to buy shares in BP

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if you have spare cash, then you have to park it somewhere, unless you think that holding cash is the best option, then it makes sense to be doing something. though if you get paid in CHF, it's probably not bad to hold it in an interest bearing CHF account.

IF...

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  #76  
Old 11.01.2011, 17:26
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Re: Good time to buy shares in BP

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495p today. almost reached my 500p target. though i'd think most would cash out now at 495.
well, BP burst through my 500p target last week breaking even the 510p mark. pulled back but now touching 500p again.

many happy returns to those who stayed the course!
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  #77  
Old 11.01.2011, 18:07
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Re: Good time to buy shares in BP

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Agreed. The reason behind this mammoth cockup to start with was a bit like the bank scenario, i dont think the big wigs really knew how risky these deeper explorations were, and if they did they certainly had no contingency. Especially when they stood to make so much money. There is also the factor of being less dependant on the Middle East and Russia etc.
The American public can't just turn round and blame BP for this, the American coast guard were signing off these explorations. It's BS. The people responsible should be held accountable. But they wont be.

If you want to invest take a look at RBS LLOY or BArcap. They have all rallied well from the recent recovery (BArcap 28% in about a month) May be a slight dip now, wait to jump back on. (do your own research as you may be aware RBS/LLoy will be sold back in chunks sooner or later)
what? The US coast guard doesn't sign off on oil exploration. Of course BP should be held responsible, and the US needs to review it policies in this area. But to say BP shouldn't be held accountable, doesn't make sense.
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