BEACH PETROLEUM - BPT

[tricha]

WELL Macduffy

I hope I am right and for a little bit of comfort, a director bought recently, plus if u look at
Beachs Investor information, Euroz have a price target of $1.14 and this has been updated since the BMG downgrade and if oil sits at this price or better, earnings increase coming and then there is Arrow.

All in all, it's looking promising.

"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"




10-Feb-2010


Euroz Securities Limited

[Huang Chung]

Tricha, you (along with Scorp and URA), are one of the last of the True Believers.....

I don't think your on the mark with BPT, but I do admire your commitment.

[macduffy]

Here's someone putting in a plug for BPT and their shale gas prospects.

http://www.theaustralian.com.au/busi...-1225840644921

[tricha]

Here's someone putting in a plug for BPT and their shale gas prospects.

http://www.theaustralian.com.au/busi...-1225840644921

Read this Huang and read their presentation, this is a sleeping giant,

2. •Huge resource potential:
   2. –Comparable to combined NSW and Queensland coal seam gas volume

[tricha]

Read this Huang and read their presentation, this is a sleeping giant,

2. •Huge resource potential:
   2. –Comparable to combined NSW and Queensland coal seam gas volume

Any one worked it out yet, they are saying their shale gas will be comparable to combined NSW and Queensland coal seam gas volume.
I wonder how long till someone makes a tilt for Beach ???????????

Anyway the good news is that Beach should get a bonus


Arrow falls for higher bid as Shell-PetroChina offer accepted

• <LI class="byline first ">Clive Mathieson <LI class="source ">From: The Australian
• March 22,

A SECOND player on Queensland's coal-seam gas frontier is set to fall into foreign hands after Arrow Energy accepted an improved takeover offer from Anglo-Dutch giant Shell and its Chinese partner PetroChina.

Arrow will announce today that it has extracted several hundred million dollars extra from Shell and PetroChina and will now accept their $3 billion-plus offer for its Australian assets.
Sources close to the bidders described the increase -- from $4.45 a share, or about $3.3bn -- as "modest".
The increased offer, believed to be about $4.70-$4.80 a share, also falls short of some analysts' expectation of a $5-a-share bid, which would have valued the company at almost $3.7bn.
But it is understood Arrow's biggest shareholder, New Hope Coal with 16.7 per cent, has indicated it will accept the new offer. Arrow shares, which have been suspended since Friday, last traded at $5.29.
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The difference reflects the estimated value of 55c-75c a share -- about $400m-$550m -- ascribed to Arrow's international assets. It is understood those assets, which include exploration and coal-seam gas projects in China, Indonesia, Vietnam and India, will remain housed within a renamed Arrow under the existing management team and board. An Arrow spokesman was unavailable for comment.
Arrow will now appoint an independent expert to assess the offer on behalf of shareholders.
The takeover must also be approved by the Foreign Investment Review Board. Although FIRB allowed Britain's BG Group to buy fellow coal-seam gas pioneer Queensland Gas for $5.4bn in 2008 -- the presence of the state-owned PetroChina in the bidding joint venture means the Arrow offer will face additional scrutiny.
Informal talks have been held between Shell, PetroChina and FIRB officials, although no formal documents have yet been lodged. Shell and PetroChina, which each own 50 per cent of the bidding vehicle, are expected to make separate applications to FIRB.
Arrow is one of several companies in Queensland with significant reserves of coal-seam gas. Until it received the approach from Shell and PetroChina, it had been negotiating to buy LNG Ltd's Fisherman's Landing liquefied natural gas project at Gladstone in central Queensland. That deal is almost certainly dead, with Shell and PetroChina instead likely to use Arrow's reserves to feed a new LNG plant on Curtis Island.
The plant is one of a dozen planned LNG ventures in Australia. ConocoPhillips of the US and Malaysia's Petronas are among participants in LNG projects based on converting coal-seam gas to liquid form and exporting it.





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[macduffy]

Hi, tricha.

I notice that in their latest presentation Reg Nelson referred to " when we have booked a contingent resource" in relation to the Cooper shale gas.

Previously, the company had claimed this as a "contingent resource".

A bit premature there?

[ELYOB]

Latest talk around Perth post the Rottnest oil and gas presentations , is that BPT shale play is huge , and really misunderstood at this time . BPT is advanced in this play direction , and is at a stage where an American player could become interested . What would a cash deal do to the Beach ?

Early days yet , but in 6 months time ...drilling may change the Beachcomber.......................

[macduffy]

BPT have announced a minor downgrade in their expected current year production.

It's in this weekly drilling report.

http://asx.com.au/asxpdf/20100324/pd...qc4dfb0wtc.pdf

[macduffy]

Latest talk around Perth post the Rottnest oil and gas presentations , is that BPT shale play is huge , and really misunderstood at this time . BPT is advanced in this play direction , and is at a stage where an American player could become interested . What would a cash deal do to the Beach ?

Early days yet , but in 6 months time ...drilling may change the Beachcomber.......................

But this talk isn't permeating to the SP which one would expect from well-founded speculation.

[tricha]

Latest talk around Perth post the Rottnest oil and gas presentations , is that BPT shale play is huge , and really misunderstood at this time . BPT is advanced in this play direction , and is at a stage where an American player could become interested . What would a cash deal do to the Beach ?

Early days yet , but in 6 months time ...drilling may change the Beachcomber.......................

U R onto it ELYOB, a game breaker! I still can not figure why someone like Santos has not moved, especially at this silly price.

http://www.stocknessmonster.com/news...E=ASX&N=177443