BEACH PETROLEUM - BPT

[shasta]

WELL I can not believe someone like Santo's didn't make a play while it was dirt cheap Bermuda and Shasta whats the point of keeping an eye on, the train has left the port.

Quote:
Originally Posted by bermuda
There is a rumour out that Arrow are having a look at Beach. Treat it as a rumour but keep your ears open.
Cheers

Nice rumour but...

Arrow & Beach had Tipton West in common until Arrow bought them out.

But Beach & Santos have announced large unconventional gas resources in the Cooper Basin.

I'd be thinking Santos might want Beach, if not, then theres plenty of gas that AOE/Shell would want.

I'm keeping an eye on BPT, to see what they intend doing with proving up there unconventional gas reserves. (see link below)

http://www.beachpetroleum.com.au/IRM...eName=Canadian energy group backs shale gas foray in Cooper Basin

The ~179mmbo in unconventional gas equates to around 45PJ from memory.

T

I'm completely out of the market, & having an ongoing battle with ASB Sec, who froze all my accounts. :mad:

Had things been different i'd have kept my BPT shares.

With all the fuss about CSG, & BPT's large unconventional gas, someone must be looking at them, if not Santos then probably Arrow.

BPT chart looking good too...

[Junior80]

Aa, great to hear from you. I have been a bit quiet for the last couple of months as I took a couple of months off to go to Europe.

BPT was the first stock I bought into when I came back. I researched it as well as I could have (always looking back at your emails for guidance). I picked BPT because it was an uptrending stock (rule number 1 according to your email), +ve OBV and also EMA-30 and EMA-15 days and weeks crossed recently.

I have been very happy with the purchase obviously and still hold. I hope we have seen the last of sub $1. I have learned from my experience with DLS with not using stop loss and only to see my gains drop by nearly 70%. So I have put in a stop loss in place and have been placing my stop loss at 2 X Average true range - high of day. However, I find it too far away and have since moved it up just below the huge support that is queueing at $1 and $0.995 (1 X ATR).

I should be buying more now to average up, looking for a right time to do so. Not sure when is the right time. How do you do it Aa and anyone else out there for that matter.

[Corporate]

Shasta - can I ask why ASB have frozen your ASB securities? I also use ASB and don't want the same thing to happen. Maybe you could PM me.

Cheers
C

[tricha]

T

I'm completely out of the market, & having an ongoing battle with ASB Sec, who froze all my accounts. :mad:

Had things been different i'd have kept my BPT shares.

With all the fuss about CSG, & BPT's large unconventional gas, someone must be looking at them, if not Santos then probably Arrow.

BPT chart looking good too...

WELL Shasta pity u had to get rid of them, the amount of knockers on this thread is out there, so I borrowed a post from hotcopper, Poit puts a positive spin on what seems a great company in the making, I would have thought that a take over would have been when they were dirt cheap at 80 cents.

Beach - it's all about strategy (poit)

"What a great strategy Beach has put in place for the future. While all the CSG guys are busy pumpimg water and trying to work out how to build multiple LNG plants in Gladstone to try to maximise the value of the very expensive CSG, Beach have come out and put on the table the whole strategy, from acquiring the leases to production, to processing and maximising value for the gas.

They have also teamed up with acknowledged industry experts in each area.

1) Sundance Energy - Drilling expertise
2) Rentech - opportunities for use, development and commercialisation of shale gas.
3) ATCO - Gas gathering, processing and transport

When looking at the other players who have acreage, thats all they have, acreage.

All the above is happening while the cash keeps comming in
and conventional O&G opportunities are developed.

They have numerous irons in different fires so they are spreading the risk. ie Hot rocks, shale gas, conventional O&G.

The opportunity in Africa could make the rest of the company pale into insignificance.

If the company is not taken over I would be surprised if the other larger players do not come knocking for a piece of the action in either the shale gas or Africa. They already have a joint venture with major players in Egypt.

As always DYOR" Poit

[macduffy]

I know we don't put much store on brokers' opinions, but...

BPT - BEACH PETROLEUM LIMITED
BA-Merrill Lynch rates BPT as Underperform, Medium Risk (5) - Target $0.73 (was $0.71). Production and revenues for the December quarter were slightly higher than the broker had expected and see it lift its 2010 earnings forecast by around 5%.
This change generates a minor increase in price target, but the broker continues to be unconvinced that the economies of the group's Cooper Basin shale gas play can compete with coal seam gas volumes. This sees the Underperform rating maintained.

Target price is $0.73 Current Price is $0.93 Difference$0.20) - (brackets indicate current price is over target). If BPT meets the BA-Merrill Lynch target it will return approximately - 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June. BA-Merrill Lynch forecasts a full year FY10 dividend of 2.00 cents and EPS of 4.50 cents . At the last closing share price the estimated dividend yield is 2.15%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.67.

[tricha]

I know we don't put much store on brokers' opinions, but...

BPT - BEACH PETROLEUM LIMITED
BA-Merrill Lynch rates BPT as Underperform, Medium Risk (5) - Target $0.73 (was $0.71). Production and revenues for the December quarter were slightly higher than the broker had expected and see it lift its 2010 earnings forecast by around 5%.
This change generates a minor increase in price target, but the broker continues to be unconvinced that the economies of the group's Cooper Basin shale gas play can compete with coal seam gas volumes. This sees the Underperform rating maintained.

Target price is $0.73 Current Price is $0.93 Difference$0.20) - (brackets indicate current price is over target). If BPT meets the BA-Merrill Lynch target it will return approximately - 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June. BA-Merrill Lynch forecasts a full year FY10 dividend of 2.00 cents and EPS of 4.50 cents . At the last closing share price the estimated dividend yield is 2.15%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.67.

Then u bette sell them to me just had to top up, sold some at 1.03, my valuation over $2.00. Lifes a Beach

SELECT DATE SENT BUY/SELL QUANTITY STOCK EXCHANGE PRICE STATUS 22/01/2010 Buy 20000 BPT ASX $0.885

[shasta]

Then u bette sell them to me just had to top up, sold some at 1.03, my valuation over $2.00. Lifes a Beach

SELECT DATE SENT BUY/SELL QUANTITY STOCK EXCHANGE PRICE STATUS 22/01/2010 Buy 20000 BPT ASX $0.885

Tricha your sale @ $1.03 looks good, but you are trying to catch a falling knife here mate!

With my very un TA eye, rough support looks around 85c?

A drop towards 80c would show up as oversold & may provide a bounce

Of course a decent night on the DOW & an increase on the POO could also turn things around.

Still watching BPT - not back in the market yet.

[macduffy]

The downgrade of BMG 2P reserves from 18m bbl to 3-5m bbl has knocked the stuffing out of the BPT SP.

BPT hold 30% of BMG.

http://asx.com.au/asxpdf/20100203/pd...vy6f15rq10.pdf

[macduffy]

Here's BPT's own announcement.

http://asx.com.au/asxpdf/20100203/pd...0lcfpk210l.pdf

Puts it into context with the downgrade equating to about 2% of BPT's reserve base.

[ELYOB]

Today was an over-reaction to previous known downgrade of BMG. More significant for ROC , which in turn dragged BPT down . Down grade for beach should only represent 4c tops. Will be forgotten going forward ...