BEACH PETROLEUM - BPT

[ELYOB]

Bpt is a trade sell for now imho, but watch it ...we need just abit of the right news, and it will be on ............#$

Some decent stuff coming up in mere months ..... good wells , which could be supported by some future b/s announcements

[Hommel]

Close at $1.51 today. But we have been here before followed by 18 months in the doldrums. This time I have a good feeling about the Beach.

[shasta]

Close at $1.51 today. But we have been here before followed by 18 months in the doldrums. This time I have a good feeling about the Beach.

See the link from my post yesterday, someone is pre-empting M&A activity in the sector (especially when STO loses the 15% cap) & has taken a 10% blocking stake in BPT.

I feel that BPT will somehow be involved, as it does have CSG exposure.

[FarmerGeorge]

Trading halt this morning. I'm guessing good news?

[shasta]

Trading halt this morning. I'm guessing good news?

Capital raising

http://www.stocknessmonster.com/news...E=ASX&N=166512

Also new presentation out

http://www.stocknessmonster.com/news...E=ASX&N=166513

[Dr_Who]

I will participate. Will have to get some options.

What price is the placement?

[macduffy]

I will participate. Will have to get some options.

What price is the placement?

The placement is at $1-43 so I assume the SSP is at the same price.
The options will be issued 1 for 10 - on total holdings, not just new shares? Strike price is $2-00. 30 June 2010.
BPT sp has struggled to digest issues in the recent past so I'll withhold judgement at this stage. I like their CSM interests but not so sure about their Eqyptian and other Middle Eastern tenements and still unsure why they thought it was a good idea to sell down BMG interest in favour of foreign adventures.
Would welcome enlightenment.

[Dr_Who]

I am 50/50 on BPT.

I feel like selling BPT to buy AZA. Dont know yet, need to work out the numbers more. BPT seems to be in a constant trading range.

[SEC]

Have Beach management shot themselves in the foot again with this capital raising?

Beach would have gone up impressively today thanks to Shell's 30% purchase of Arrow's CSM assets for an upfront payment of $435M, which pays for 3P reserves of 2.79PJ and includes their 60% (1.39PJ) stake in Tipton West. Beach has the remaining 40% stake in Tipton West which based on equivalent 3P reserves and price paid by Shell is worth 54cps pre capital raising. Recent valuations by brokers valued Beach's stake in Tipton West from 10 - 20cps.

To think that Beach today has had its asset valuation effectively increase by at least 30cps and at the same time looks to have done a capital raising at 24cps discount to the prevailing price is shocking timing.

I have seen more often than not the market price drop to the SPP price within weeks of a capital raising, no matter how small or large the discount. Crying shame really because Beach was heading for $2. Load up more around $1.43.

SEC

[shasta]

Have Beach management shot themselves in the foot again with this capital raising?

Beach would have gone up impressively today thanks to Shell's 30% purchase of Arrow's CSM assets for an upfront payment of $435M, which pays for 3P reserves of 2.79PJ and includes their 60% (1.39PJ) stake in Tipton West. Beach has the remaining 40% stake in Tipton West which based on equivalent 3P reserves and price paid by Shell is worth 54cps pre capital raising. Recent valuations by brokers valued Beach's stake in Tipton West from 10 - 20cps.

To think that Beach today has had its asset valuation effectively increase by at least 30cps and at the same time looks to have done a capital raising at 24cps discount to the prevailing price is shocking timing.

I have seen more often than not the market price drop to the SPP price within weeks of a capital raising, no matter how small or large the discount. Crying shame really because Beach was heading for $2. Load up more around $1.43.

SEC

How good are those bonus options looking then?