BEACH PETROLEUM - BPT

[shasta]

BPT @ 69c OUCH

[Corporate]

shasta, it's because BPT is a DOG!

They have spent to much on their assets

Directors milk it for all its worth

operating costs are too high

normalised half year profit would be about $23m compared to a $750m market cap....there are far better companies out their.

[shasta]

shasta, it's because BPT is a DOG!

They have spent to much on their assets

Directors milk it for all its worth

operating costs are too high

normalised half year profit would be about $23m compared to a $750m market cap....there are far better companies out their.

The chart looks like the slopes at the X games!

Just shows how BPT is missing the revenue from Tipton West, it also reduced reserves by quite a bit!

I'm not interested in BPT, i'm looking at O&G companies in the Phillipines (OEL, NDO, KIK)

[Corporate]

The chart looks like the slopes at the X games!

Just shows how BPT is missing the revenue from Tipton West, it also reduced reserves by quite a bit!

I'm not interested in BPT, i'm looking at O&G companies in the Phillipines (OEL, NDO, KIK)

Good to hear :-) NDO is on my radar. Looks like it could be producing more revenue than BPT......10,000bopd...

You back in buying mode?

[shasta]

Not quite yet.

My ASB Sec cash management a/c is still frozen!

It's taking a long time to resolve, but apparently i still hold PEM (5k) & URA (100k) - not sure this is right?????

Wish this could be settled, as i never instructed them to convert my URAO!

If they bought & sold my BPT correctly, why couldn't they do this for all my other stocks!

[STRAT]

Beach still looks like hard work to me. At least its out of its trading range

[macduffy]

Looks like there will be a small sweetener for BPT if the Shell/PetroChina bid for AOE goes ahead.

http://www.theaustralian.com.au/busi...-1225838410329

Are you still there, tricha?

[tricha]

Looks like there will be a small sweetener for BPT if the Shell/PetroChina bid for AOE goes ahead.

http://www.theaustralian.com.au/busi...-1225838410329

Are you still there, tricha?

Oh yeah I'm still here Macduffy and I have been buying more, at these bargin basement prices.
It's another Bow to their string.

Thanks for this article on Arrow,

"One company cheering on the Arrow deal will be Beach Petroleum.
The sale of its Tipton West assets to Arrow last year came with a couple of kickers, including $70 million in extra cash on change of control in Arrow"

[tricha]

The latest presentation and a few reasons why Beach has it all, in front of them.


http://www.stocknessmonster.com/news...E=ASX&N=177165

2. •2P reserves of 66 MMboe
3. •Sustainable long-term oil and gas production
4. •FY 2010 production guidance of 8.0 MMboe
5. •$118 million cash and zero debt**

4Beach Energy Limited (ASX : BPT) –A compelling value proposition
** as at 31 Dec 2009

2. •Huge Cooper Basin shale gas resource potential
3. •High potential East African rift oil exploration acreage
4. •LNG supply potential from existing portfolio

[macduffy]

Hi tricha.

I admire your enthusiasm for the Beach. I'm keeping a few for old times' sake and who knows, you might be right!

BPT is putting a lot of faith in the future profitable development of their Cooper Basin shale gas resource. I'm picking that if prices get good enough for that, the CSG companies will be doing even better. That's why I have my main energy plays in AOE, BOW and STO.

Cheers

PS If the Shell/Petrochina t/o of AOE goes ahead, the $70m that BPT will receive equals about 6.5cps spread over BPT's 1,080m shares.