BEACH PETROLEUM - BPT

[macduffy]

DLS will also be moving up on anticipation of the PEL 91 drilling with BPT (DLS 60% BPT 40%)

I posted a map of the fairway, next to BPT/COE's PEL 92 (with 2 recent oil discoveries) & it showed the Growler field (VPE/BOW) up the top.

Good chance PEL 91 is sitting on an oil fairway, but we both know BPT wont move up in anticipation, though DLS is more likely to.

The drill results will be interesting

You're so right, shasta.

I suspect that Growler would have to be another Ghawar to move ole Billion Share Beach!

[tricha]

Lifes going to be a Beach.

Bought back in today at 80.5 cents, good to see management stuck to their guns on Drillsearch.
What a trading stock, bargain below 80 cents and can not really expect that again.
Double dividend comong up

Beach Petroleum Limited ("Beach") will reward shareholders with a fully-franked special dividend of $0.02 (2 cents) per Beach share, payable on 30 September 2009 to all Beach shareholders registered on 31 August 2009.

Special + yearly one ??????????????

Mr Market, hmm, good news and Beach goes down. With the 22% of DLS owned, I guess u can say they own 50% of this new Field Discovery


Re: Chiton-1 (PEL 91) - New Field Oil Discovery
Beach Petroleum Ltd is pleased to announce that Chiton-1, in PEL 91, is an oil discovery. Logging While Drilling (LWD) data indicates that the well has encountered a 5.5 metre oil zone in the Namur Sandstone. Based on the data currently available, Beach assesses recoverable oil reserves in the discovery to be in the range 0.04 to 0.39 million barrels (P90 to P10) with a P50 reserve of 0.12 million barrels. The well will be cased for future production and further evaluation of relevant data will be carried out to refine the resource estimate.
Chiton-1 has reached final total depth of 2010m in Pre-Permian basement and preparations are underway to run casing. No further hydrocarbon shows were encountered.
Interests in PEL-91 are Beach Petroleum Ltd (40%) and Drillsearch Energy Ltd (60%).
Yours faithfully,
Hector Gordon
Chief Executive Officer
Competent Persons Statement
This information was compiled by Mr Neil Gibbins, who is a full time employee of Beach Petroleum and has consented to the inclusion of this information in the form and context in which it appears.

[macduffy]

Old news, tricha.

The special dividend was announced back on 23 July ( although it's not payable until 30 September).
A profitable company like BPT paying a "special dividend" surely implies that this is additional to the usual distribution and is welcome after the miserly three-quarters of one cent interim. But this was as much an inducement to DLS shareholders to accept the takeover offer as it was a gesture of generosity to BPT shareholders. And the market seems to have interpreted it that way.

[tricha]

Old news, tricha.

The special dividend was announced back on 23 July ( although it's not payable until 30 September).
A profitable company like BPT paying a "special dividend" surely implies that this is additional to the usual distribution and is welcome after the miserly three-quarters of one cent interim. But this was as much an inducement to DLS shareholders to accept the takeover offer as it was a gesture of generosity to BPT shareholders. And the market seems to have interpreted it that way.

It's old news that's right Macduffy, but "to all Beach shareholders registered on 31 August 2009." which means I have bounced back into, ....

1 - still pick up the special dividend.

2 - might get a normal one on top.

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding.

[shasta]

It's old news that's right Macduffy, but "to all Beach shareholders registered on 31 August 2009." which means I have bounced back into, ....

1 - still pick up the special dividend.

2 - might get a normal one on top.

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding.

DLS is not just a distraction!

DLS/BPT have struck oil

I can't post the link, my PDF file links appear broken

[STRAT]

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding.

Good on ya Tricha, that would require talent

[tricha]

DLS is not just a distraction!

DLS/BPT have struck oil

I can't post the link, my PDF file links appear broken

I thought u were abandoning this fine ship Shasta , I posted the oil find a couple of pages below Re: Chiton-1 (PEL 91) - New Field Oil Discovery

Thats just one very good reason that I bought back in cheap again, u will notice on the picture below that the lows are moving higher, so I would be very lucky to buy under 80 cents now.
But if it does I will be like a pig in a trough

BPTBeach Petroleum Limited FPO Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years

[macduffy]

BPT have announced that (the next) five dividend payments will be underwritten for reinvestment.

This of course means that they will retain the cash but that the billion share body (1.047b at last count) will swell even bigger!

I may have to reconsider holding my last small share of the b**ch.

[shasta]

I thought u were abandoning this fine ship Shasta , I posted the oil find a couple of pages below Re: Chiton-1 (PEL 91) - New Field Oil Discovery

Thats just one very good reason that I bought back in cheap again, u will notice on the picture below that the lows are moving higher, so I would be very lucky to buy under 80 cents now.
But if it does I will be like a pig in a trough

BPTBeach Petroleum Limited FPO Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years

I usually split my buy/sells into two transactions (minimise brokerage) & with BPT i sold down half, but i did say i'd be around for the Paralana Geothermal drill with PTR & Tru Energy

Beach is like a schzophrenic on "P" - they never sit still & are very active & are all over the show...

[macduffy]

"Beach is like a schzophrenic on "P" - they never sit still & are very active & are all over the show... "

I'd welcome a bit more activity and upward volatility in the SP!