BEACH PETROLEUM - BPT

[Phaedrus]

..... u will notice on the picture below that the lows are moving higher....

True enough - but that is only half the story. You should also notice that the highs are moving lower. Tricha, the chart you posted makes the situation painfully clear. BPT is trendless. Flat-lining.

When I see Shasta state that "Beach is very active and all over the show" I am forced to the reluctant conclusion that you guys are seeing what you want to see!

[Snow Leopard]

...I am forced to the reluctant conclusion that you guys are seeing what you want to see!

Funny, we say exactly the same thing about you

regards
Paper 'Mr Objective' Tiger

[Phaedrus]

A totally objective opinion would be well worth having.
So, PT, tell us -
Do the higher lows alone mean that BPT is moving up - or not?
Is it very active and all over the show - or not?

[shasta]

True enough - but that is only half the story. You should also notice that the highs are moving lower. Tricha, the chart you posted makes the situation painfully clear. BPT is trendless. Flat-lining.

When I see Shasta state that "Beach is very active and all over the show" I am forced to the reluctant conclusion that you guys are seeing what you want to see!

Of course all of BPT's activity hasn't transformed to action on the chart yet...

[tricha]

Funny, we say exactly the same thing about you

regards
Paper 'Mr Objective' Tiger

Actually I would go a step further, what the clouds say as they zoom past or what the tea leaves are saying at the time

[tricha]

True enough - but that is only half the story. You should also notice that the highs are moving lower. Tricha, the chart you posted makes the situation painfully clear. BPT is trendless. Flat-lining.

When I see Shasta state that "Beach is very active and all over the show" I am forced to the reluctant conclusion that you guys are seeing what you want to see!

Actually I bought some more, below 80 cents, they are far to cheap Phaedrus and the patient will be WELL and truely rewarded. that ain't going to be u :o

27/08/2009 Buy 20000 BPT ASX $0.79 Order Traded

And they are in line for the special dividend and another dividend.

BEACH DIVIDEND FOLLOWS STRONG
2008/09 OPERATING PERFORMANCE

2008-2009 Financial Year Highlights (previous year in brackets)

2. Net profit after tax $260.4 million ($63.7 million)
3. Normalised net profit after tax $64.2 million ($52.9 million)
4. Record Oil and gas sales $581 million ($564 million)
5. Total revenue $987 million ($685 million)
6. Cash on hand at year end $136.2 million
7. Zero debt
8. Divested Tipton West Assets for up to $400million
9. Further successful exploration of Cooper Basin’s western flanks

Beach Petroleum Limited's Managing Director, Reg Nelson, said, "Beach's total revenue for the year of close to $1 billion is a resounding record".
Beach has posted record financial results in the year to June 30 with higher oil and gas sales revenue boosted by asset sales to generate total revenue for the year of close to $1 billion.
The sale of the Tipton West coal seam gas asset in a deal worth $400 million has allowed Beach to repay all corporate debt and end the year with cash on hand of $136.2 million.
That comes after rewarding shareholders with a special fully franked dividend of 2 cents per share and declaring a further 1 cent per share ordinary final dividend (partly franked) from the 2008/09 results. This final dividend follows an interim dividend of 0.75 cents a share and brings the full year dividend payment to shareholders of 3.75 cents per share.

[Corporate]

Actually I bought some more, below 80 cents, they are far to cheap Phaedrus and the patient will be WELL and truely rewarded. that ain't going to be u :o

27/08/2009 Buy 20000 BPT ASX $0.79 Order Traded

And they are in line for the special dividend and another dividend.

BEACH DIVIDEND FOLLOWS STRONG
2008/09 OPERATING PERFORMANCE

2008-2009 Financial Year Highlights (previous year in brackets)

2. Net profit after tax $260.4 million ($63.7 million)
3. Normalised net profit after tax $64.2 million ($52.9 million)
4. Record Oil and gas sales $581 million ($564 million)
5. Total revenue $987 million ($685 million)
6. Cash on hand at year end $136.2 million
7. Zero debt
8. Divested Tipton West Assets for up to $400million
9. Further successful exploration of Cooper Basin’s western flanks

Beach Petroleum Limited's Managing Director, Reg Nelson, said, "Beach's total revenue for the year of close to $1 billion is a resounding record".
Beach has posted record financial results in the year to June 30 with higher oil and gas sales revenue boosted by asset sales to generate total revenue for the year of close to $1 billion.
The sale of the Tipton West coal seam gas asset in a deal worth $400 million has allowed Beach to repay all corporate debt and end the year with cash on hand of $136.2 million.
That comes after rewarding shareholders with a special fully franked dividend of 2 cents per share and declaring a further 1 cent per share ordinary final dividend (partly franked) from the 2008/09 results. This final dividend follows an interim dividend of 0.75 cents a share and brings the full year dividend payment to shareholders of 3.75 cents per share.

Tricha - another underwelming performance from Beach. Pull out the Tipon West sale and they made about $40m NPBT (give or take). Add that they are not replacing reserves makes this a poor result.

I hate to think what the current PE is.

[pedro.nz]

Should post your charts in braille Phaedrus - some may then see the obvious

[tricha]

Should post your charts in braille Phaedrus - some may then see the obvious

Be like flogging a dead horse.

[Phaedrus]

No, there aren't any as yet, but here are some helpful suggestions, some things to watch out for.

(1) The overall situation. BPT's steep plunge has levelled out and it is has now been in a trading range for about 9 months, so far. Trading ranges can last for years and of course there is always the risk that when they end they might break Down, rather than Up, as hoped for. A break above the established Resistance level would of course constitute a Buy signal, albeit a fairly late one.

(2) On Balance Volume. This excellent indicator has been in a relentless downtrend for well over a year, so far. There is a confirmed trendline in place and a break of this would constitute a BUY signal.

(3) Slow Stochastic Oscillator. This indicator too has been negative for well over a year. A break above its previous peaks would be an indication of some improvement in market sentiment toward this stock.

(4) Relative Strength Index. This oscillator is mid-range at the moment and is going nowhere in keeping with the shareprice. The RSI identifies good entry points (green arrows) for those wanting to buy into BPT. It also identifies good exit points (red arrows) for those wanting out of BPT or for those attempting to trade this stock. Currently it would not have you holding BPT and is nowhere near triggering a Buy signal.

(5) 200 day Moving Average. This indicator is generally used only by very conservative long-term investors. It has worked very well in keeping such investors out of BPT for the last year or so. Interestingly, this moving average has skimmed above all peaks of the last 14 months, fitting it extremely well to the price action. A break above it would provide a Buy signal.

(6) Volume. It is good to keep a watchful eye on volume. What you are looking for is an atypical increase in volume on an Up-day. (A tall green bar in the volume histogram). Ideally, you want this to be linked with a price increase of some reasonable significance. Tall RED bars are NOT what you want.

(7) Trendline break? Not a candidate with this stock. To draw a valid trendline, you MUST have a trend. BPT is currently trendless, crabbing sideways going nowhere. The Red dashed line is therefore NOT a trendline and a break of it would mean absolutely nothing. Ditto the Green dashed line.

(8) Summary. These 6 helpful suggestions offer some potential BPT Buy signals. None have triggered as yet and none are close to triggering. When/if they do, remember that it is not good practice to act on the basis of any single signal in isolation and ideally some degree of confirmation from other indicators should sought before acting.