BEACH PETROLEUM - BPT

[shasta]

DLS is a side issue and the geothermo is a piss in the pot.

Does not matter, bought my shares back that I sold a few weeks ago, read between the lines, Beach is cheap.

Accordingly to the daily shorting stats on the ASX site, approx 20% of the daily volume in BPT are short sales :mad:

They should ban shorting full stop!

[Phaedrus]

BPT remains in its trading range. What is the hurry to buy a stock that is essentially trendless? Let's say that BPT really is cheap, and stands to double from its current price. This isn't going to happen overnight. When (or if!) BPT does start to move, there will be plenty of buy signals triggered, giving ample time to get in. In the meantime, why buy or hold a stock that is going nowhere? Especially when there are plenty of others in good uptrends.



As if that is not bad enough, take a look at the relationship between BPT and the price of Oil. There isn't one! So far this year, while oil has nearly doubled, BPT has fallen 20%.



If you want to position yourself to take advantage of high oil prices in an anticipated "peak oil" scenario, wouldn't you want to buy stocks that demonstrate a strong link to the price of oil?

[Dr_Who]

Good trading stock within the trading range.

[shasta]

BPT remains in its trading range. What is the hurry to buy a stock that is essentially trendless? Let's say that BPT really is cheap, and stands to double from its current price. This isn't going to happen overnight. When (or if!) BPT does start to move, there will be plenty of buy signals triggered, giving ample time to get in. In the meantime, why buy or hold a stock that is going nowhere? Especially when there are plenty of others in good uptrends.



As if that is not bad enough, take a look at the relationship between BPT and the price of Oil. There isn't one! So far this year, while oil has nearly doubled, BPT has fallen 20%.



If you want to position yourself to take advantage of high oil prices in an anticipated "peak oil" scenario, wouldn't you want to buy stocks that demonstrate a strong link to the price of oil?

Thats due to the fact, BPT is mainly gas (Gas reserves are much larger than oil).

Also BPT have a promising geothermal project being drilled at the moment

Wonder why there isn't a connection between BPT & the PoO, especially as BPT gets the Tapis price!

[macduffy]

Thats due to the fact, BPT is mainly gas (Gas reserves are much larger than oil).

Also BPT have a promising geothermal project being drilled at the moment

Wonder why there isn't a connection between BPT & the PoO, especially as BPT gets the Tapis price!

BPT gas reserves are certainly larger than their oil reserves but oil is by far the larger contributor to revenue and profitability.

Revenue split in 1HFY09 was:

- Oil 62%
- Gas liquids 12%
- Sales Gas and Ethane 26%

(From the latest company presentation )

[shasta]

BPT gas reserves are certainly larger than their oil reserves but oil is by far the larger contributor to revenue and profitability.

Revenue split in 1HFY09 was:

- Oil 62%
- Gas liquids 12%
- Sales Gas and Ethane 26%

(From the latest company presentation )

Then BPT is lagging behind the other oilers & is due a run itself!

Of course the short selling on the stock isnt helping.

Cant think of any other oil producers getting the Tapis price that are going backwards (like BPT), & BPT is one of the larger oilers on the ASX!

[macduffy]

Then BPT is lagging behind the other oilers & is due a run itself!

Of course the short selling on the stock isnt helping.

Cant think of any other oil producers getting the Tapis price that are going backwards (like BPT), & BPT is one of the larger oilers on the ASX!

That's just BPT I'm afraid. Perennial underperformer but proud issuer of 1 billion plus shares.

Not so sure about one of the "larger oilers" though. With a M/Cap of $800m it's not anywhere near the size of WPL (M/Cap of $30b odd) or STO ($8.5b ). Even AWE is almost twice the size these days.
At best, I'd class BPT as a mid sized Aussie oiler.

[shasta]

That's just BPT I'm afraid. Perennial underperformer but proud issuer of 1 billion plus shares.

Not so sure about one of the "larger oilers" though. With a M/Cap of $800m it's not anywhere near the size of WPL (M/Cap of $30b odd) or STO ($8.5b ). Even AWE is almost twice the size these days.
At best, I'd class BPT as a mid sized Aussie oiler.

I didnt mean to mention BPT in the same breathe as WPL & STO (or even OSH), & yes they are a larger "mid cap" oil producer.

Only AWE is bigger though among the mid cap oilers?

Would like to see a 3:1 consolidation down to say 300 - 350m shares, which should see a $2+ SP.

[macduffy]

I didnt mean to mention BPT in the same breathe as WPL & STO (or even OSH), & yes they are a larger "mid cap" oil producer.

Only AWE is bigger though among the mid cap oilers?

Would like to see a 3:1 consolidation down to say 300 - 350m shares, which should see a $2+ SP.

Yes, I would think that BPT would hold that position if we exclude AOE ( definitely not an oiler but certainly an O&G stock) and of course BHP, the big daddy of them all in terms of boe production.

Must say I'm not a fan of a consolidation which tends to be associated with struggling " penny dreadfuls " whose share register costs have got out of hand. I guess it would make management feel better with a $2+ SP but they seem to think that they're doing pretty well already, judging from their recent press release.

[tricha]

BPT - "BMG" Update

http://www.stocknessmonster.com/news...E=ASX&N=554756

Whilst this isnt BPT's largest project, it's worth noting...

(From the Beach website)

Gippsland Basin Reserves are based upon an independent assessment conducted by Resource Investment Strategy Consultants (RISC) in August 2008. In addition, RISC assessed additional 2P Reserves of 16 mmboe (net to Beach Petroleum) associated with the BMG gas project. Beach Petroleum has elected to defer booking the reserve until development of the gas and associated oil and condensate reserves is approved by BMG Joint Venture.

It's quite simple really, Beach is cheap and here we go again , Phaedrus u still haven't got a clue in the world.

In the 2007 and 2008 share comp, the winners were those that picked take over targets. TA does not have a clue when it comes to this.

and then we have this. Dr Who is onto it - "Good trading stock within the trading range. "

And further to this we have a fundamentally cheap stock, so below 80 cents it's a steal.

BMG update, 2P reserves net to Beach 16 million barrels, and if u use my simple basic formula.

16 million 2P x $40 ( profit in OZ $) = 64 cents worth per share for free.

1 - Prime takeover target.
2 - Efectively debt free
3 - Management change for the better ???
4 - They have not gone up with the rest, as the picture below tells u




BPTBeach Petroleum Limited FPO