BEACH PETROLEUM - BPT

[shasta]

It puts a long term value of about 5.5c on DLS . If DLS doesn't go for this , the world is a funny place .

I see DLS are fighting back & seem dead against BPT's offer :rolleyes:

BPT - Weekly Drilling Report

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172569

BPT/PTR - Geothermnal Update

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172568

Check out the rig as we drill into the centre of the earth!

[mattyroo]

Tricha, if you could only drop your silly, adversarial, combative, abrasive, confrontational approach you might learn something to your advantage. For all your scoffing at TA, you, more than most on this site, stand to gain a lot from it. The timing of your buy and sell decisions is particularly poor. For example, it appears that you are now attempting to range-trade BPT. Can you see that you sold right in the middle of the trading range? The idea is to buy near the lower limit of the trading range and sell near the upper limit. BPT is in a short-term uptrend. If you want to range-trade this stock, you have sold too soon.

Before you launch into another round of personal abuse, enormous multicoloured fonts and protracted "cut and paste" posts, take a look at this chart. See how tea-leaves could help you time your BPT trading entries and exits. The idea is to buy when the oscillator is rising from "OverSold" levels and Sell when the oscillator is falling from "OverBought" levels. The green arrows mark Buy signals, the red Sell signals. See how you sold even though BPT was nowhere near resistance, was still rising and had not even reached Oversold levels? A simple chart like this would help you time your entries and exits - to your advantage.

Well said! Will likely fall on deaf ears though I suspect.

Whilst most of us have been head down bum up finding the good stocks to make a killing on over the last couple of months, Tricha has been crying his histrionics from the rooftops and missed out on making a motza.

As Homer would say.... Doh!

[shasta]

Well said! Will likely fall on deaf ears though I suspect.

Whilst most of us have been head down bum up finding the good stocks to make a killing on over the last couple of months, Tricha has been crying his histrionics from the rooftops and missed out on making a motza.

As Homer would say.... Doh!

Roo

What's your take on BPT's involvement in the geothermal/hot rocks project?

I read it doesn't have the dewatering issues that CSG has, is that true?

A 4km drill into the earth core sounds extreme :D

[suntboy]

gday Shasta
Ive held PTR since its inception and is a good story waiting to happen(I Hope)
Originally most talk was not so much whether the temps were right but more on getting a heat exchanger that could cope
The passage of time seems to have fixed this problem due to continued developments in the sector
I think there is around 15 or 16 companies involved in Hot rocks but what is comforting is the fact they are prepared to share their knowledge and equipment with each other
Sorry I cant cut and paste but their was a good press release on 15 March which answers a lot of questions
Such a simple concept , pouring water down one hole and getting power for the Beverly mine out the other
As to where BPT sit in all this?
Its all about diversification with them(they must have lots of fingers or a very big pie)
They have got in early and I hope it pays off but I wonder in todays climate whether they would have taken it on or more importantly maybe they could of got in cheaper.

Welcome To Suntland

[shasta]

gday Shasta
Ive held PTR since its inception and is a good story waiting to happen(I Hope)
Originally most talk was not so much whether the temps were right but more on getting a heat exchanger that could cope
The passage of time seems to have fixed this problem due to continued developments in the sector
I think there is around 15 or 16 companies involved in Hot rocks but what is comforting is the fact they are prepared to share their knowledge and equipment with each other
Sorry I cant cut and paste but their was a good press release on 15 March which answers a lot of questions
Such a simple concept , pouring water down one hole and getting power for the Beverly mine out the other
As to where BPT sit in all this?
Its all about diversification with them(they must have lots of fingers or a very big pie)
They have got in early and I hope it pays off but I wonder in todays climate whether they would have taken it on or more importantly maybe they could of got in cheaper.

Welcome To Suntland

BPT - Presentation Out

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172602

Effectively debt free, thats the best bit ;)

[shasta]

BPT - Change in Shareholding

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172603

This could explain the SP weakness of late, strange time to sell down i would have thought?

Maybe Mathews think the POO is going down south?

[Huang Chung]

BPT - Change in Shareholding

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172603

This could explain the SP weakness of late, strange time to sell down i would have thought?

Maybe Mathews think the POO is going down south?

I presume they don't have to sell stock to meet redemptions....surely we're well past that point by now.

Maybe Mathews sees itself getting more bang for its buck elsewhere in the market?

[shasta]

I presume they don't have to sell stock to meet redemptions....surely we're well past that point by now.

Maybe Mathews sees itself getting more bang for its buck elsewhere in the market?

I dunno, the fact they are selling probably indicates BPT is a buy :D

AWC huh, i looked at them a while back, too much debt - have they addressed that yet?

HC - you & your zinc, :confused:

i hope it makes ya millions, you deserve it

[tricha]

I dunno, the fact they are selling probably indicates BPT is a buy :D

AWC huh, i looked at them a while back, too much debt - have they addressed that yet?

HC - you & your zinc, :confused:

i hope it makes ya millions, you deserve it

yeah but ShaSTA, Beach management are ...................................

And I still hold 20K of them :(

[shasta]

yeah but ShaSTA, Beach management are ...................................

And I still hold 20K of them :(

NZO & VPE, showed how previous bad management can turn things around with a few changes, & BPT are slowly learning...

1. Paying off debt ;)
2. Active exploration/drill program ;)
3. Hedging to leverage the POO upside ;)
4. On the acquistion path to replace the Tipton West reserves ;)

BPT just needs another decent sized project, instead of multiple useful, but modest sized projects

[Huang Chung]

I dunno, the fact they are selling probably indicates BPT is a buy :D

AWC huh, i looked at them a while back, too much debt - have they addressed that yet?

HC - you & your zinc, :confused:

i hope it makes ya millions, you deserve it

Hi Shasta

AWC recently issued more shares to get their gearing down. But if I was to ditch one of my four stocks, AWC would be the one to go.

Yep, think zinc Shasta.....everybody is clamoring over gold, oil, copper etc, but not zinc as yet, but its time will come. Opportunity to stock up on unloved, unwanted zinc plays right now IMO. Straw hats in winter as they say.

[shasta]

Hi Shasta

AWC recently issued more shares to get their gearing down. But if I was to ditch one of my four stocks, AWC would be the one to go.

Yep, think zinc Shasta.....everybody is clamoring over gold, oil, copper etc, but not zinc as yet, but its time will come. Opportunity to stock up on unloved, unwanted zinc plays right now IMO. Straw hats in winter as they say.

Im all oil & gas, after selling LGL (bad timing, false signals damn it!)

I've had zinc exposure before with PEM & OZL, but its not a metal i get too enthused about...

I'm looking at a small REE/U308 play though ;)

[shasta]

Im all oil & gas, after selling LGL (bad timing, false signals damn it!)

I've had zinc exposure before with PEM & OZL, but its not a metal i get too enthused about...

I'm looking at a small REE/U308 play though ;)

BPT - Another Oil Discovery, @ Butlers -1 (Smallish)

http://www.stocknessmonster.com/news-item?S=COE&E=ASX&N=450529

BPT has 75% of the permit, COE 25%

[shasta]

BPT - Another Oil Discovery, @ Butlers -1 (Smallish)

http://www.stocknessmonster.com/news-item?S=COE&E=ASX&N=450529

BPT has 75% of the permit, COE 25%

BPT - "BMG" Update

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=554756

Whilst this isnt BPT's largest project, it's worth noting...

(From the Beach website)

Gippsland Basin Reserves are based upon an independent assessment conducted by Resource Investment Strategy Consultants (RISC) in August 2008. In addition, RISC assessed additional 2P Reserves of 16 mmboe (net to Beach Petroleum) associated with the BMG gas project. Beach Petroleum has elected to defer booking the reserve until development of the gas and associated oil and condensate reserves is approved by BMG Joint Venture.

[macduffy]

It's not a lot of money but today's announcement about the geothermal drilling grant hasn't done anything for the BPT SP.
Or maybe it has - stopped it from dropping!

;)

[tricha]

It's not a lot of money but today's announcement about the geothermal drilling grant hasn't done anything for the BPT SP.
Or maybe it has - stopped it from dropping!

;)

You have ten minutes to top on on discounted Beach Shares.;)

Friday 26 June 2009
MEDIA RELEASE
FOR IMMEDIATE RELEASE
Ref: #079/09
NEW GROWTH AND OPERATIONAL STRATEGIES REFLECTED IN KEY BEACH APPOINTMENTS
New growth and operational strategies are reflected in key Board and Executive appointments announced today by Australian oil and gas producer and explorer, Beach Petroleum Limited (ASX: "BPT").
Beach Chairman, Mr Robert Kennedy, announced that Adelaide lawyer, Mr Glenn Davis, had been appointed Deputy Chairman and that Mr Hector Gordon – currently the Company’s Chief Operations Officer - had been appointed to the newly-created position of Chief Executive Officer (CEO).
Mr Davis, who has been a Beach Director since 2007, has had a long association with the Company in legal and commercial matters.
"As Deputy Chairman, Mr Davis brings to the Board his expertise in the execution of large legal and commercial transactions and significant experience in corporate activity regulated by the Corporations Act and ASX Limited," Mr Kennedy said.
"We also advise that our Managing Director, Mr Reg Nelson, will in future concentrate largely on high level strategic growth opportunities for the company," he said.
"To that end, Mr Hector Gordon will assume the role of Chief Executive Officer, with a focus on building and developing Beach’s exploration and production portfolio as well as its investor relations function."
Mr Kennedy said the new appointments were at a time when Beach is poised to take advantage of its strong balance sheet and nil effective debt to build and grow.
"These appointments enhance the Beach Board and executive team which have over the years developed a strong rapport and mutual respect, based on independence and professional competence," he said

[soulman]

Until DLS gets out of the way, lifes a beach for BPT shareholders.

Up the ante for DLS is a share price breaker for BPT and letting the offer lapsed would cost a bit of coin in T/O admin fees. No winner here and DLS has REJECTED the offer.

Like we all say here, the range is 75 to 85 until the DLS crap.

[macduffy]

You have ten minutes to top on on discounted Beach Shares.
QUOTE.

Unfortunately, Beach shares seem to be on one of those perpetual "LAST 3 DAYS!" sales that we see so often these days.
My biggest mistake with BPT was not cutting my losses when I sold after the last cash issue at $1.43 and hanging on to a few "to see what happens".

:(

[shasta]

You have ten minutes to top on on discounted Beach Shares.
QUOTE.

Unfortunately, Beach shares seem to be on one of those perpetual "LAST 3 DAYS!" sales that we see so often these days.
My biggest mistake with BPT was not cutting my losses when I sold after the last cash issue at $1.43 and hanging on to a few "to see what happens".

:(

I'm holding to see what happens with the geothermal drill, if it's no good i'm out

[tricha]

Until DLS gets out of the way, lifes a beach for BPT shareholders.

Up the ante for DLS is a share price breaker for BPT and letting the offer lapsed would cost a bit of coin in T/O admin fees. No winner here and DLS has REJECTED the offer.

Like we all say here, the range is 75 to 85 until the DLS crap.

DLS is a side issue and the geothermo is a piss in the pot.

Does not matter, bought my shares back that I sold a few weeks ago, read between the lines, Beach is cheap. ;)

[shasta]

DLS is a side issue and the geothermo is a piss in the pot.

Does not matter, bought my shares back that I sold a few weeks ago, read between the lines, Beach is cheap. ;)

Accordingly to the daily shorting stats on the ASX site, approx 20% of the daily volume in BPT are short sales :mad:

They should ban shorting full stop!

[Phaedrus]

BPT remains in its trading range. What is the hurry to buy a stock that is essentially trendless? Let's say that BPT really is cheap, and stands to double from its current price. This isn't going to happen overnight. When (or if!) BPT does start to move, there will be plenty of buy signals triggered, giving ample time to get in. In the meantime, why buy or hold a stock that is going nowhere? Especially when there are plenty of others in good uptrends.

http://h1.ripway.com/78963/BPT627.gif

As if that is not bad enough, take a look at the relationship between BPT and the price of Oil. There isn't one! So far this year, while oil has nearly doubled, BPT has fallen 20%.

http://h1.ripway.com/78963/BPTpc627.gif

If you want to position yourself to take advantage of high oil prices in an anticipated "peak oil" scenario, wouldn't you want to buy stocks that demonstrate a strong link to the price of oil?

[Dr_Who]

Good trading stock within the trading range. :D

[shasta]

BPT remains in its trading range. What is the hurry to buy a stock that is essentially trendless? Let's say that BPT really is cheap, and stands to double from its current price. This isn't going to happen overnight. When (or if!) BPT does start to move, there will be plenty of buy signals triggered, giving ample time to get in. In the meantime, why buy or hold a stock that is going nowhere? Especially when there are plenty of others in good uptrends.

http://h1.ripway.com/78963/BPT627.gif

As if that is not bad enough, take a look at the relationship between BPT and the price of Oil. There isn't one! So far this year, while oil has nearly doubled, BPT has fallen 20%.

http://h1.ripway.com/78963/BPTpc627.gif

If you want to position yourself to take advantage of high oil prices in an anticipated "peak oil" scenario, wouldn't you want to buy stocks that demonstrate a strong link to the price of oil?

Thats due to the fact, BPT is mainly gas (Gas reserves are much larger than oil).

Also BPT have a promising geothermal project being drilled at the moment

Wonder why there isn't a connection between BPT & the PoO, especially as BPT gets the Tapis price!

[macduffy]

Thats due to the fact, BPT is mainly gas (Gas reserves are much larger than oil).

Also BPT have a promising geothermal project being drilled at the moment

Wonder why there isn't a connection between BPT & the PoO, especially as BPT gets the Tapis price!

BPT gas reserves are certainly larger than their oil reserves but oil is by far the larger contributor to revenue and profitability.

Revenue split in 1HFY09 was:

- Oil 62%
- Gas liquids 12%
- Sales Gas and Ethane 26%

(From the latest company presentation )

[shasta]

BPT gas reserves are certainly larger than their oil reserves but oil is by far the larger contributor to revenue and profitability.

Revenue split in 1HFY09 was:

- Oil 62%
- Gas liquids 12%
- Sales Gas and Ethane 26%

(From the latest company presentation )

Then BPT is lagging behind the other oilers & is due a run itself!

Of course the short selling on the stock isnt helping.

Cant think of any other oil producers getting the Tapis price that are going backwards (like BPT), & BPT is one of the larger oilers on the ASX!

[macduffy]

Then BPT is lagging behind the other oilers & is due a run itself!

Of course the short selling on the stock isnt helping.

Cant think of any other oil producers getting the Tapis price that are going backwards (like BPT), & BPT is one of the larger oilers on the ASX!

That's just BPT I'm afraid. Perennial underperformer but proud issuer of 1 billion plus shares.

Not so sure about one of the "larger oilers" though. With a M/Cap of $800m it's not anywhere near the size of WPL (M/Cap of $30b odd) or STO ($8.5b ). Even AWE is almost twice the size these days.
At best, I'd class BPT as a mid sized Aussie oiler.

[shasta]

That's just BPT I'm afraid. Perennial underperformer but proud issuer of 1 billion plus shares.

Not so sure about one of the "larger oilers" though. With a M/Cap of $800m it's not anywhere near the size of WPL (M/Cap of $30b odd) or STO ($8.5b ). Even AWE is almost twice the size these days.
At best, I'd class BPT as a mid sized Aussie oiler.

I didnt mean to mention BPT in the same breathe as WPL & STO (or even OSH), & yes they are a larger "mid cap" oil producer.

Only AWE is bigger though among the mid cap oilers?

Would like to see a 3:1 consolidation down to say 300 - 350m shares, which should see a $2+ SP.

[macduffy]

I didnt mean to mention BPT in the same breathe as WPL & STO (or even OSH), & yes they are a larger "mid cap" oil producer.

Only AWE is bigger though among the mid cap oilers?

Would like to see a 3:1 consolidation down to say 300 - 350m shares, which should see a $2+ SP.

Yes, I would think that BPT would hold that position if we exclude AOE ( definitely not an oiler but certainly an O&G stock) and of course BHP, the big daddy of them all in terms of boe production.

Must say I'm not a fan of a consolidation which tends to be associated with struggling " penny dreadfuls " whose share register costs have got out of hand. I guess it would make management feel better with a $2+ SP but they seem to think that they're doing pretty well already, judging from their recent press release.

;)

[tricha]

BPT - "BMG" Update

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=554756

Whilst this isnt BPT's largest project, it's worth noting...

(From the Beach website)

Gippsland Basin Reserves are based upon an independent assessment conducted by Resource Investment Strategy Consultants (RISC) in August 2008. In addition, RISC assessed additional 2P Reserves of 16 mmboe (net to Beach Petroleum) associated with the BMG gas project. Beach Petroleum has elected to defer booking the reserve until development of the gas and associated oil and condensate reserves is approved by BMG Joint Venture.

It's quite simple really, Beach is cheap and here we go again , Phaedrus u still haven't got a clue in the world.

In the 2007 and 2008 share comp, the winners were those that picked take over targets. TA does not have a clue when it comes to this.

and then we have this. Dr Who is onto it - "Good trading stock within the trading range. :D "

And further to this we have a fundamentally cheap stock, so below 80 cents it's a steal.

BMG update, 2P reserves net to Beach 16 million barrels, and if u use my simple basic formula.

16 million 2P x $40 ( profit in OZ $) = 64 cents worth per share for free.

1 - Prime takeover target.
2 - Efectively debt free
3 - Management change for the better ???
4 - They have not gone up with the rest, as the picture below tells u:D




BPTBeach Petroleum Limited FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/BPT/1y/line/30/0/

[soulman]

Again with the free 64 cents. Tricha, are you forgetting PEM? Unless BPT have $640 million in cash and no debt, then I would see a 64 cents free value.

I guess we all have vested interest at hearts here so holder of BPT shares would want it to go up. The only way BPT would double from here is a T/O offer. CVN, ROC and TAP doubled in different circumstances. About 4 months. Talk about a serial underperformer, along with AWE.

[shasta]

Again with the free 64 cents. Tricha, are you forgetting PEM? Unless BPT have $640 million in cash and no debt, then I would see a 64 cents free value.

I guess we all have vested interest at hearts here so holder of BPT shares would want it to go up. The only way BPT would double from here is a T/O offer. CVN, ROC and TAP doubled in different circumstances. About 4 months. Talk about a serial underperformer, along with AWE.

Are those stocks being shorted to the extent BPT is though, CVN, ROC & TAP are, but up to ~23% of BPT trades are shorts!

http://www.asx.com.au/data/shortsell.txt

Of course all media outlets will report the oil price went down over the weekend & the ignorant will follow like sheeps in agreement.

http://www.theaustralian.news.com.au/business/story/0,28124,25698114-36418,00.html

Meantime in reality Tapis bucked the trend & went up $1.32 to $73.54

http://www.upstreamonline.com/market_data/?id=markets_oil

BPT has $70m of AOE shares & around $70m to come from AOE on certain milestones being meet, & no debt!

I'll have BPT over CVN (poor fiscal returns), ROC (good company but still has debt, prior to raising capital), or TAP (good company, but small compared to BPT) any day.

When the June quarterly comes out i'm sure the big picture will show large cashflows being generated & a busy drilling program for the rest of the year.

[macduffy]

Yes, I would think that shorting is one of BPT's problems but it's really a symptom of the market's perception of BPT. Worth watching to see if a trend develops in this regard but we should note that even Woodside's trades that day were 26.7% shorts.

It's ironic that the sale of the Tipton West interest was touted as a way to restore value to the BPT SP which the market wasn't recognising!
When we look a little closer at that sale we see that although BPT made a hefty profit on their original investment, the price achieved wasn't that great.
A report puts it at 67c per GJ based on 2P reserves and 28c per GJ based on 3P reserves. These figures increase to 81c and 34c respectively if all the contingent payments which the sale agreement includes, eventuate. These compare with the following figures for other recent CSM deals:

Conoco/Origin $3-00 2P $1-41 3P

Petronas/Santos $3-87 $1-30

BG/QGas $2-15 83c

Shell/AOE $1-83 52c

The market verdict seems to be that BPT didn't get enough for its Tipton interest and that the 60% odd of 2P reserves that it represents will be difficult and costly to replace.

[Phaedrus]

Phaedrus u still haven't got a clue in the world.I'm just drawing attention to a couple of interesting facts, Tricha :-

(1) Oil is in an uptrend.
(2) BPT......... isn't.
Wouldn't you expect BPT to rise (rather than fall!) while the price of oil has doubled in the last 6 months?

I am not the first to notice this unfortunate divergence, of course, and hitherto staunch holders are plaintively asking "Why is BPT so weak compared to other oilers?". Good question!

Way back in June last year, more perceptive holders had noticed "Oil prices going up, share price going down"..... and were getting out at double the current shareprice!

Tricha, the market currently values BPT at 78 cents. Oil has risen 93% since you calculated BPT's "worth" as $4.33 per share.

What is your latest valuation?

[Stranger_Danger]

$6.11, 14 turnips and a goat.

And since your charts don't work with turnips I *know* I'm right.

[shasta]

$6.11, 14 turnips and a goat.

And since your charts don't work with turnips I *know* I'm right.

I wish BPT would sell off all these rats & mice permits :confused:

http://www.stocknessmonster.com/news-item?S=COE&E=ASX&N=451090

http://www.stocknessmonster.com/news-item?S=COE&E=ASX&N=451089

Ok they found oil at Butlers, but why hold 75% of 1- 2mmbo fields?

For a company the size of BPT, & with there resources, surely they should be concentrating on bigger things!

May be cheaper to buy the likes of TAP/NXS/COE while oil is sub $70 than look for prospective permits?

[macduffy]

Well they're in the Cooper Basin where BPT have their concentration of producing wells - mostly small but they get a good hit rate with their drilling and the costs are comparatively low.

There are a lot of other aspects of BPT which I'm less happy about - but I won't go into that again!

[shasta]

Well they're in the Cooper Basin where BPT have their concentration of producing wells - mostly small but they get a good hit rate with their drilling and the costs are comparatively low.

There are a lot of other aspects of BPT which I'm less happy about - but I won't go into that again!

It would take around 75 Butlers to make up for Tipton West!

Lets hope the Egypt, Albania, Spain etc drills hit it big :rolleyes:

[macduffy]

It would take around 75 Butlers to make up for Tipton West!

Lets hope the Egypt, Albania, Spain etc drills hit it big :rolleyes:

In the context of BPT's oil production, 1-2mmb is actually quite a lot.

BPT produced 2mmb oil from Cooper Eromanga in the last financial year, 70% of its total oil production. Most of its 9.3mmboe was of course gas and lpg.

By the way, shasta, I note that BPT shorts for the day following was down to 1.73% so perhaps the big day was an aberration.

Heck, I'm starting to sound like a fan of BPT!

;)

[shasta]

In the context of BPT's oil production, 1-2mmb is actually quite a lot.

BPT produced 2mmb oil from Cooper Eromanga in the last financial year, 70% of its total oil production. Most of its 9.3mmboe was of course gas and lpg.

By the way, shasta, I note that BPT shorts for the day following was down to 1.73% so perhaps the big day was an aberration.

Heck, I'm starting to sound like a fan of BPT!

;)

Remember those quoted figures are P10 Reserves & 75% BPT (COE 25%)

I'd imagine the flowrates would be low & in the 100's of barrels per day.

BPT - Media Release - All debt repaid + Cash in bank ;)

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172741

The geothermal drilling has started (with PTR) - love the pictures!

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172743

C'mon Macduffy, admit it you're tempted to get the cheque book out :D

[macduffy]

Remember those quoted figures are P10 Reserves & 75% BPT (COE 25%)

I'd imagine the flowrates would be low & in the 100's of barrels per day.

BPT - Media Release - All debt repaid + Cash in bank ;)

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172741

The geothermal drilling has started (with PTR) - love the pictures!

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172743

C'mon Macduffy, admit it you're tempted to get the cheque book out :D


No, not even thinking about it.

But I'm rather intrigued by the BPT story so I keep a small interest just in case.

Spent the last few hours kicking myself for my timidity in taking only a token interest in NGX yesterday. I've been trying to find a worthwhile goldie for some time but wasn't really convinced that was it. Still may not be but the SP looks good. And practically no sellers!

Back to BPT, I'm happy for them to keep plugging away at the Cooper Eromanga to replenish their reserves there rather than spend big money in foreign climes searching for that elephant. The problem is that any returns are going to be spread pretty thinly over that elephant sized capital base.

[tricha]

I'm just drawing attention to a couple of interesting facts, Tricha :-

(1) Oil is in an uptrend.
(2) BPT......... isn't.
Wouldn't you expect BPT to rise (rather than fall!) while the price of oil has doubled in the last 6 months?

I am not the first to notice this unfortunate divergence, of course, and hitherto staunch holders are plaintively asking "Why is BPT so weak compared to other oilers?". Good question!

Way back in June last year, more perceptive holders had noticed "Oil prices going up, share price going down"..... and were getting out at double the current shareprice!

Tricha, the market currently values BPT at 78 cents. Oil has risen 93% since you calculated BPT's "worth" as $4.33 per share.

What is your latest valuation?

WELL Phaedrus, looks like my last calculation was way off. Going by the data available of 58 million P2 reserves @ $40 a barrel OZ = 2320 billion / 1030 billion shares + 12 cents a share cash = $2.37 cents a share.

So Beach is still cheap and has cash in the bank and a management reshuffle ( could be good or bad ), so it's better to be on the train instead of sitting at the station watching the ship go past. ;) If u know what I mean.

It probably means we are gambling on the management to do the right thing. :eek:

[shasta]

WELL Phaedrus, looks like my last calculation was way off. Going by the data available of 58 million P2 reserves @ $40 a barrel OZ = 2320 billion / 1030 billion shares + 12 cents a share cash = $2.37 cents a share.

So Beach is still cheap and has cash in the bank and a management reshuffle ( could be good or bad ), so it's better to be on the train instead of sitting at the station watching the ship go past. ;) If u know what I mean.

It probably means we are gambling on the management to do the right thing. :eek:

Ok, BPT's Mgmt has rightly been bagged for it's past efforts (of lack thereof), lets look & see what they have done right!

1. Pay off debt = well done ($A650m in 3 years :eek:)
2. Hedges in the money, this is very simple yet so many stuff it up!
3. Sold off Tipton West, ok this is also a negative but, BPT weren't in the running for a LNG site at Gladstone & would only get the Australian domestic gas price, so selling it was overall a good thing IMO.
4. Busy drilling, yup BPT don't sit still which makes things interesting
5. Alternative Energy with Geothermal in the portfolio, so we are diversified outside of just oil & conventional gas.
6. Not wasting money on DLS, yes more shares :rolleyes:, but could end up being a cheap purchase.
7. Future proofing, well BPT can now fund existing portfolio exploration, & development from existing cashflows, & could acquire someone???

I think BPT's mgmt are slowly turning things around, just like NZO & VPE did.

[shasta]

Ok, BPT's Mgmt has rightly been bagged for it's past efforts (of lack thereof), lets look & see what they have done right!

1. Pay off debt = well done ($A650m in 3 years :eek:)
2. Hedges in the money, this is very simple yet so many stuff it up!
3. Sold off Tipton West, ok this is also a negative but, BPT weren't in the running for a LNG site at Gladstone & would only get the Australian domestic gas price, so selling it was overall a good thing IMO.
4. Busy drilling, yup BPT don't sit still which makes things interesting
5. Alternative Energy with Geothermal in the portfolio, so we are diversified outside of just oil & conventional gas.
6. Not wasting money on DLS, yes more shares :rolleyes:, but could end up being a cheap purchase.
7. Future proofing, well BPT can now fund existing portfolio exploration, & development from existing cashflows, & could acquire someone???

I think BPT's mgmt are slowly turning things around, just like NZO & VPE did.

BPT - Weekly Drilling Report

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172780

Highlights:

2 gas discoveries in PEL 106 (Cooper/Eromanga Basin)

- Brownlow-1 tested > 12mmscf per day
- Canunda-1 tested ~9mmscf per day

Sounds more than useful to me ;)

Also we are at 189m for Paralana-2 the Geothermal/hot rocks permit

Only ~3,811m to go... :eek:

[shasta]

BPT - Weekly Drilling Report

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172780

Highlights:

2 gas discoveries in PEL 106 (Cooper/Eromanga Basin)

- Brownlow-1 tested > 12mmscf per day
- Canunda-1 tested ~9mmscf per day

Sounds more than useful to me ;)

Also we are at 189m for Paralana-2 the Geothermal/hot rocks permit

Only ~3,811m to go... :eek:

BPT - Butlers-1 flows at 2,600 bopd (BPT 75%, COE 25%) :D

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172873

Only around ~1mmbo field, however the revenue is useful:

BPT 75% of 2,600 = 1,950bopd...

BPT get the Tapis price = ~$US70/bbl

AUD/USD = ~0.80, so BPT get roughly $A87.50/bbl

$A87.50 x 1,950 bopd x 384 days* = ~$A65m revenue for life of field

Est profit margin @ $A30/bbl = ~$A22m

* 1mmbo/2600bopd = ~384 days

If BPT find a few of these you can see the impact on cashflows, revenues & profits! ;)

[tricha]

WELL Phaedrus, looks like my last calculation was way off. Going by the data available of 58 million P2 reserves @ $40 a barrel OZ = 2320 billion / 1030 billion shares + 12 cents a share cash = $2.37 cents a share.

So Beach is still cheap and has cash in the bank and a management reshuffle ( could be good or bad ), so it's better to be on the train instead of sitting at the station watching the ship go past. ;) If u know what I mean.

It probably means we are gambling on the management to do the right thing. :eek:


Looks like I'm way off, Still. :)

Eurozone only value them at $1.40, but the trick is, no major player, yet.
T\A does not take that into account ;)


Top 20 Shareholders as at 4 May 2009
Shareholders Shares (m) (%)

1 National Nominees Limited 119.99 11.58
2 J P Morgan Nominees Australia Limited 117.44 11.33
3 HSBC Custody Nominees (Aust) Limited 94.39 9.20
4 ANZ Nominees Limited 95.06 9.17
5 Citicorp Nominees Pty Limited 79.02 7.63
6 RBC Global Services Aust Nom Pty Ltd 27.44 2.65
7 Cogent Nominees Pty Limited 10.39 1.00
8 AMP Life Limited 9.33 0.90
9 Sunrise investments Corporation 8.38 0.81
10 Bond Street Custodians Limited 6.29 0.61
11 Queensland Investment Corporation 4.35 0.42
12 Mathews Capital Partners Pty Ltd 3.46 0.33
13 Merrilly Lynch (Aust) Nominees Pty Ltd 3.21 0.31
14 Citicorp Nominees Pty Limited 0.15 0.30
15 UBS Nominees Pty Ltd 3.11 0.30
16 BNP Paribas <BNP Cooper Neff A/C> 2.87 0.28
17 Equity Trustees Ltd 2.59 0.25
18 New Economy Com Nominees Pty Ltd 2.33 0.22
19 Mr Reginald George Nelson 2.30 0.22
20 CS Fourth Nominess Pty Ltd 2.17 0.21

TOTAL 594.25 57.72

[shasta]

Looks like I'm way off, Still. :)

Eurozone only value them at $1.40, but the trick is, no major player, yet.
T\A does not take that into account ;)


Top 20 Shareholders as at 4 May 2009
Shareholders Shares (m) (%)
1 National Nominees Limited 119.99 11.58
2 J P Morgan Nominees Australia Limited 117.44 11.33
3 HSBC Custody Nominees (Aust) Limited 94.39 9.20
4 ANZ Nominees Limited 95.06 9.17
5 Citicorp Nominees Pty Limited 79.02 7.63
6 RBC Global Services Aust Nom Pty Ltd 27.44 2.65
7 Cogent Nominees Pty Limited 10.39 1.00
8 AMP Life Limited 9.33 0.90
9 Sunrise investments Corporation 8.38 0.81
10 Bond Street Custodians Limited 6.29 0.61
11 Queensland Investment Corporation 4.35 0.42
12 Mathews Capital Partners Pty Ltd 3.46 0.33
13 Merrilly Lynch (Aust) Nominees Pty Ltd 3.21 0.31
14 Citicorp Nominees Pty Limited 0.15 0.30
15 UBS Nominees Pty Ltd 3.11 0.30
16 BNP Paribas <BNP Cooper Neff A/C> 2.87 0.28
17 Equity Trustees Ltd 2.59 0.25
18 New Economy Com Nominees Pty Ltd 2.33 0.22
19 Mr Reginald George Nelson 2.30 0.22
20 CS Fourth Nominess Pty Ltd 2.17 0.21
TOTAL 594.25 57.72


I fully expected BPT to drop today below the trading range of 75c...

Low & behold it holds tight :confused:

I mean BPT hits new discoveries = SP goes down

BPT is debt free & has large cashflows = SP goes down

Tapis price surges upwards = SP goes down

Whatever happens = SP goes down :D

Phaedrus is probably shorting the sh*t outta BPT & having a laugh :o

I still like the Beach though ;)

[shasta]

I fully expected BPT to drop today below the trading range of 75c...

Low & behold it holds tight :confused:

I mean BPT hits new discoveries = SP goes down

BPT is debt free & has large cashflows = SP goes down

Tapis price surges upwards = SP goes down

Whatever happens = SP goes down :D

Phaedrus is probably shorting the sh*t outta BPT & having a laugh :o

I still like the Beach though ;)

Chart looks oversold too

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=BPT&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=RSI&ra=2

[ELYOB]

one has to wait ; Funds are not interested in any stocks

[macduffy]

Looks like I'm way off, Still. :)

Eurozone only value them at $1.40, but the trick is, no major player, yet.
T\A does not take that into account ;)


Top 20 Shareholders as at 4 May 2009
Shareholders Shares (m) (%)

1 National Nominees Limited 119.99 11.58
2 J P Morgan Nominees Australia Limited 117.44 11.33
3 HSBC Custody Nominees (Aust) Limited 94.39 9.20
4 ANZ Nominees Limited 95.06 9.17
5 Citicorp Nominees Pty Limited 79.02 7.63
6 RBC Global Services Aust Nom Pty Ltd 27.44 2.65
7 Cogent Nominees Pty Limited 10.39 1.00
8 AMP Life Limited 9.33 0.90
9 Sunrise investments Corporation 8.38 0.81
10 Bond Street Custodians Limited 6.29 0.61
11 Queensland Investment Corporation 4.35 0.42
12 Mathews Capital Partners Pty Ltd 3.46 0.33
13 Merrilly Lynch (Aust) Nominees Pty Ltd 3.21 0.31
14 Citicorp Nominees Pty Limited 0.15 0.30
15 UBS Nominees Pty Ltd 3.11 0.30
16 BNP Paribas <BNP Cooper Neff A/C> 2.87 0.28
17 Equity Trustees Ltd 2.59 0.25
18 New Economy Com Nominees Pty Ltd 2.33 0.22
19 Mr Reginald George Nelson 2.30 0.22
20 CS Fourth Nominess Pty Ltd 2.17 0.21

TOTAL 594.25 57.72


Well of course top 20 shareholders don't tell us anything as most of these are nominee companies holding for various beneficial owners.

It's the " substantial shareholder" announcements that we need to keep an eye on!
Various Mathews Capital accounts seems to be one of the biggest with a total of 6.44% between them.

[STRAT]

but the trick is, no major player, yet.
T\A does not take that into account ;)

Dead right there Tricha.
TA will tell you what has been and what is. Never what might be.
TA will give you
Managements track record.
The markets perception both historic and current.
But best of all it tells you what the market has been doing about that perception.

There are a few things on the chart below that indicate it very likely BPT will be even more of a bargain soon.

Not a prediction but the odds are ;)

[Dr_Who]

I am keeping a close eye on this one.

[macduffy]

Well of course top 20 shareholders don't tell us anything as most of these are nominee companies holding for various beneficial owners.

It's the " substantial shareholder" announcements that we need to keep an eye on!
Various Mathews Capital accounts seems to be one of the biggest with a total of 6.44% between them.

It's probably not that "significant" but Mathews Capital Partners have ceased to be a significant shareholder.

[ELYOB]

Disagree about Mathews Capital Partners ; this has been the problem on the Registry for months ...... they have been a stressed Fund , and brokers have been screwing them behind the curtain of D-Bank . Google them and read about their misfortunes ?????

[shasta]

Disagree about Mathews Capital Partners ; this has been the problem on the Registry for months ...... they have been a stressed Fund , and brokers have been screwing them behind the curtain of D-Bank . Google them and read about their misfortunes ?????

Totally agree, anyone that did the opposite of Barclays would have made a killing, & i don't rate Mathews any better

Is the beach starting to turn around, still looks oversold to me

[STRAT]

Is the beach starting to turn around, still looks oversold to meHi Shasta. Not really. Cruzin down the middle

[shasta]

Beach breaching thru 80c today to close up 3c to 81c

BPT - Weekly Drilling Report
http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172978

The 3 interests with STO interest me, esp the Psyche Gas development drill with STO & ORG (BPT~23%).

STO may well be the one to have a go at BPT in time

[macduffy]

Beach breaching thru 80c today to close up 3c to 81c

BPT - Weekly Drilling Report
http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172978

The 3 interests with STO interest me, esp the Psyche Gas development drill with STO & ORG (BPT~23%).

STO may well be the one to have a go at BPT in time

I doubt it.

STO and BPT have a lot of interests in common in the Cooper Basin but STO has signalled very clearly that it sees its big, expensive LNG projects in PNG and Queensland as its priorities. I can't see it spending big money on buying out over a billion BPT shares to shore up its position in the Cooper Basin.

[shasta]

Chart looks oversold too

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=BPT&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=RSI&ra=2
A close of 83c or better - should show BPT tracking above the 30/90 day ma

A bulllish sign, even though volume is normal ;)

[macduffy]

Hi shasta.

I think it's just the PoO. Pretty much all the oilers are up today.

But I hope that I'm wrong and that BPT is about to make the long-promised move up!

;)

[shasta]

DLS offer accelerated timetable

http://www.stocknessmonster.com/news-item?S=DLS&E=ASX&N=557533

BPT are really pushing the DLS Board's buttons with this offer!

[shasta]

Hi shasta.

I think it's just the PoO. Pretty much all the oilers are up today.

But I hope that I'm wrong and that BPT is about to make the long-promised move up!

;)

I wish BPT actually did track what the Tapis price does.

BPT seems to disconnect from anything positive & falls on everything negative :D

PS, Tapis up $2.55 to $US67.18 a 3.8% rise

[ELYOB]

BPT needs to produce more oil . Gas is not the answer as gas prices are low and will stay low in eastern oz for next 2 years . BPT gas is gradually falling and they dont have TW gas contributing now on . BPT is to reduce exploration in FY2010 , and do more on development and acquisition . It is easier to buy reserves than to drill for it , esp if it happens to be offshore . Offshore recent work has been a disaster for one who is on the beach......

[bermuda]

BPT needs to produce more oil . Gas is not the answer as gas prices are low and will stay low in eastern oz for next 2 years . BPT gas is gradually falling and they dont have TW gas contributing now on . BPT is to reduce exploration in FY2010 , and do more on development and acquisition . It is easier to buy reserves than to drill for it , esp if it happens to be offshore . Offshore recent work has been a disaster for one who is on the beach......

If they want more oil BPT could run a ruler over ITC. I would be surprised if they hadnt already. ITC has a lot of potential oil nearby to BPT's permits. They could snatch a share of Snatcher and Growler etc plus Potential.

[macduffy]

BPT needs to produce more oil . Gas is not the answer as gas prices are low and will stay low in eastern oz for next 2 years . BPT gas is gradually falling and they dont have TW gas contributing now on . BPT is to reduce exploration in FY2010 , and do more on development and acquisition . It is easier to buy reserves than to drill for it , esp if it happens to be offshore . Offshore recent work has been a disaster for one who is on the beach......

Fair comment, ELYOB.

Significant perhaps that BPT is the only oiler that I monitor that hasn't moved today in response to a firmer PoO.
I reckon they lost the plot when they diverted their attention to foreign adventures in Tanzania, Albania, Spain and more recently, Egypt. I've never been able to see how they would be able to manage such a diverse portfolio while also keeping focus on the main game in Australia.

[shasta]

If they want more oil BPT could run a ruler over ITC. I would be surprised if they hadnt already. ITC has a lot of potential oil nearby to BPT's permits. They could snatch a share of Snatcher and Growler etc plus Potential.

Good thinking, BPT is already after DLS's PEL 91 permit, which is right alongside BPT"s PEL 92.

Maybe that's there focus buying up around known producing fields, & mop up a few minnows along the way.

[shasta]

Good thinking, BPT is already after DLS's PEL 91 permit, which is right alongside BPT"s PEL 92.

Maybe that's there focus buying up around known producing fields, & mop up a few minnows along the way.

BPT - Quarterly Report

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173037

Media Announcement

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173038

Record revenue, production, $136m cash at bank, no debt & ~ $50m worth of AOE shares left.

NB, Nice selling 8m AOE shares @ av $3.84, netting ~$30m

Very happy holding BPT :D

[macduffy]

Sorry to sound a negative note on the Beach again but the record production was for the year, as it had been for the nine months to March. The June quarter production was actually down on the March quarter but we can't blame management for putting the best possible spin on things.

The positive note is that the market liked it and upped the SP by 2c.

:)

[shasta]

Sorry to sound a negative note on the Beach again but the record production was for the year, as it had been for the nine months to March. The June quarter production was actually down on the March quarter but we can't blame management for putting the best possible spin on things.

The positive note is that the market liked it and upped the SP by 2c.

:)

There will be a reduction due to the Tipton West production now sold.

Canny selling of AOE, i thought these would have been in escrow until the milestones are met?

BPT - Drilling Report

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173048

Workover at BMG will hopefully lift production levels (BPT has 30%)

[macduffy]

The lower production wasn't only caused by the sale of Tipton West although that accounted for 154 kboe of the total drop of 174 kboe.

I'm a little surprised that Beach havn't held the full AOE holding. They must have other plans for the cash.

;)

[tricha]

I'm just drawing attention to a couple of interesting facts, Tricha :-

(1) Oil is in an uptrend.
(2) BPT......... isn't.
Wouldn't you expect BPT to rise (rather than fall!) while the price of oil has doubled in the last 6 months?

I am not the first to notice this unfortunate divergence, of course, and hitherto staunch holders are plaintively asking "Why is BPT so weak compared to other oilers?". Good question!

Way back in June last year, more perceptive holders had noticed "Oil prices going up, share price going down"..... and were getting out at double the current shareprice!

Tricha, the market currently values BPT at 78 cents. Oil has risen 93% since you calculated BPT's "worth" as $4.33 per share.

What is your latest valuation?

Hmm, divergence or to many people sitting at the station, watching the ship sail past.;) ( or watching their T\A screens) :confused:

[tricha]

The lower production wasn't only caused by the sale of Tipton West although that accounted for 154 kboe of the total drop of 174 kboe.

I'm a little surprised that Beach havn't held the full AOE holding. They must have other plans for the cash.

;)

Cooper now must be a target, just like DLS, they seem to like this area and have been doing very WELL of late.
I just might top up some more COE :)

[macduffy]

Well, it would make a nice change if they did do a takeover for cash rather than adding to the mountain of shares on issue. Drillsearch is only a tiddler but Beach is offering shares here - and struggling to make progress.

:D

[tricha]

Yes AA, but somehow I do not see it going back under 80 cents.

When the fund managers do the numbers, it will soon be back over $1.00

Its trading range will need re-addressing. :confused:

But hey, up until now the range has been awesome. :p

[macduffy]

Beach have announced a fully franked special dividend of 2cps, a distribution of part of the profits from the Tipton West sale.

It's also a nice incentive to DLS shareholders to get a move on and accept BPT's takeover offer.

;)

[shasta]

Yes AA, but somehow I do not see it going back under 80 cents.

When the fund managers do the numbers, it will soon be back over $1.00

Its trading range will need re-addressing. :confused:

But hey, up until now the range has been awesome. :p

BPT - Update on Geothermal Project (with PTR & TRU Energy)

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173059

I hope BPT completes the farm in & pays the $30m to increase there share from 21 - 36%, the JV has already received $7m in Govt funding for the drilling program, & having the South Australia State Governor show up, tells me that Australia is serious about Geothermal, clean, green energy.

I might email BPT & suggest they look into taking out PTR.

PTR @ 30c is worth $27.7m, so 40 - 50cps cash or a 3:1 scrip offer should do it.

Allowing TRU Energy to farm in to 30% for $57m, almost funds the deal!

What would BPT be getting by taking over PTR?

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172447

This has far more promise & upside to BPT shareholders than DLS!

[shasta]

BPT - Update on Geothermal Project (with PTR & TRU Energy)

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173059

I hope BPT completes the farm in & pays the $30m to increase there share from 21 - 36%, the JV has already received $7m in Govt funding for the drilling program, & having the South Australia State Governor show up, tells me that Australia is serious about Geothermal, clean, green energy.

I might email BPT & suggest they look into taking out PTR.

PTR @ 30c is worth $27.7m, so 40 - 50cps cash or a 3:1 scrip offer should do it.

What would BPT be getting by taking over PTR?

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172447

This has far more promise & upside to BPT shareholders than DLS!

Will advise what response i get, i believe PAX & PTR would compliment BPT's portifolio, especially if the Australian Govt signs up to any looney left ETS (Emission Trading Scheme).

PS, Have a look at PAX (Market Cap < $30m @ $0.14), talking about an inferred resource of 11,000PJ!

Kinda dwarfs the CSG minors reserve targets, & it's a cleaner, greener energy source!

[macduffy]

BPT - Update on Geothermal Project (with PTR & TRU Energy)

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173059

I hope BPT completes the farm in & pays the $30m to increase there share from 21 - 36%, the JV has already received $7m in Govt funding for the drilling program, & having the South Australia State Governor show up, tells me that Australia is serious about Geothermal, clean, green energy.

I might email BPT & suggest they look into taking out PTR.

PTR @ 30c is worth $27.7m, so 40 - 50cps cash or a 3:1 scrip offer should do it.

What would BPT be getting by taking over PTR?

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=172447

This has far more promise & upside to BPT shareholders than DLS!

Hi shasta.

Judging from Reg Nelson's remarks yesterday I'd be very surprised if they hadn't already had a hard look at PTR.

The expertise required there is a bit outside BPT's area of experience. I reckon they might be happy to remain JV'd in the project for the meantime.

;)

[macduffy]

Will advise what response i get, i believe PAX & PTR would compliment BPT's portifolio, especially if the Australian Govt signs up to any looney left ETS (Emission Trading Scheme).

PS, Have a look at PAX (Market Cap < $30m @ $0.14), talking about an inferred resource of 11,000PJ!

Kinda dwarfs the CSG minors reserve targets, & it's a cleaner, greener energy source!

Actually, PAX claims to have two 11,000 PJ inferred resources, Tirrawarra and Penola.

I must try to get my unscientific brain around this geothermal thing, especially the method used to calculate ( certify?) resources. It seems that no Australian geothermal resource has become a "reserve" yet. Might this be expected in due course or are we talking about a different system to that applied to oil and conventional/csg gas?

[shasta]

Hi shasta.

Judging from Reg Nelson's remarks yesterday I'd be very surprised if they hadn't already had a hard look at PTR.

The expertise required there is a bit outside BPT's area of experience. I reckon they might be happy to remain JV'd in the project for the meantime.

;)

To my mind it's a no brainer, Geothermal will simply be the biggest benefactor of any ETS implemented by the Australian Govt.

Uranium won't have the universal appeal (some states still wont allow it), & nothing else comes close to a cleaner, greener energy source.

I'm not so sure PTR are more advanced in that area of expertise?

Thing is $30m would buy PTR at current prices, so either PTR is vastly undervalued, or BPT are paying an outrageous premium of $30m to increase it's stake in the JV from 21 - 36% (Nb, BPT hasn't indicated it will take up this option as yet.)

Take for example, TRU Energy's farm in arrangement is $57m for 30%

$57/30 * 100 = $190m project value? (TRU Energy's farm in deal)

$30/15 * 100 = $200m project value? (BPT's farm in deal)

Beach already holds 21% of the JV, but you can see the value in this for PTR.

For a current market cap of $30m - yet they could farm down to 34% & receive $87m cash

(Using the above farm in data, it equates to $1.95m per 1%, so PTR's stake @ 34% would still be worth $66m!)

OK, the project will require a large supportive company to fund it into commercial production, but surely BPT sees this inherent value in PTR?

In fact BPT could pay 60cps for PTR (double current SP) & farm out 30% to TRU Energy for $57m to fund the deal!

What have i overlooked here Macduffy?

[shasta]

BPT - Special 2c Fully Franked Dividend

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173064

Well there's $A21m of the cash balance* gone

* Per Quarterly $A136m

Edit: With the SP languishing under $1, i'll be taking the DRP not the cash

[shasta]

Big news day for BPT - hopefully the SP will reflect all this!

http://www.stocknessmonster.com/news-item?S=COE&E=ASX&N=453721

BPT & COE drilling programme in PEL 92 (already got 2 oil discoveries)

[shasta]

BPT - Farm into PEL 218 with ADE

http://www.stocknessmonster.com/news-item?S=ADE&E=ASX&N=173066

The BPT news reel continues...

[shasta]

Got a very swift response from the BPT Investor Relations team

The response was also forward to someone else within BPT!

To sum up:

Basically happy to play a supporting role & will await & see how the Geothermal technology pans out before making any further investment.

I guess that's prudent given the largely unknown/unproven technology involved.

They were also happy to receive some positive feedback!

Macduffy - you haven't been taking them to task have you?

[macduffy]

Got a very swift response from the BPT Investor Relations team

To sum up:

Basically happy to play a supporting role & will await & see how the Geothermal technology pans out before making any further investment.

I guess that's prudent given the largely unknown/unproven technology involved.

They were also happy to receive some positive feedback!

Macduffy - you haven't been taking them to task have you?

Taught them everything they know.

Yeah, right.

;)

[shasta]

Taught them everything they know.

Yeah, right.

;)

Whilst i'm in between contracts & have some spare time, i'll do some more research into Geothermal energy.

Ive already identified 3 companies dedicated to it

[macduffy]

Here's a piece on the Australian Geothermal Reporting Code.

Close similarities to that for oil and gas?



http://www.pir.sa.gov.au/geothermal/ageg/geothermal_reporting_code

[tricha]

Hmm, divergence or to many people sitting at the station, watching the ship sail past.;) ( or watching their T\A screens) :confused:

Hmm, suspect u were sitting at the port, watching the train sail past. :(

[shasta]

Hmm, suspect u were sitting at the port, watching the train sail past. :(

BPT - Sale of all AOE shares

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173126

Another ~$45m to the cash pile. (Being the remaining shares sold)

End of Quarter $136m + 45m ;)

[tricha]

BPT - Sale of all AOE shares

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173126

Another ~$45m to the cash pile. (Being the remaining shares sold)

End of Quarter $136m + 45m ;)

That would nearly be enough to buy COE ;)

[Phaedrus]

How come BPT is still sitting at the station when all the other energy gravytrains headed North months ago?

http://h1.ripway.com/78963/BPTxjo728.gif

[shasta]

How come BPT is still sitting at the station when all the other energy gravytrains headed North months ago?

http://h1.ripway.com/78963/BPTxjo728.gif

It's a big slow train, with alot of baggage/weight, that's in no hurry :D

There geothermal interests may spark some SP action, the drilling is in progress

[shasta]

BPT - Presentation re DLS T/O

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173142

[tricha]

Due to information from the latest presentation. Going by the data available of 65 million P2 reserves @ $40 a barrel OZ = 2,600,000,000 / 1,030,000,000 shares + 17 cents a share cash = Valuation of $2.69 cents a share.

This is not allowing for exploration upside or anything else Beach owns.

And if u bought recently @ around 80 cents, it's been a great ride and there is a lot more to come. :)

[Bilo]

Due to information from the latest presentation. Going by the data available of 65 million P2 reserves @ $40 a barrel OZ = 2,600,000,000 / 1,030,000,000 shares + 17 cents a share cash = Valuation of $2.69 cents a share.

This is not allowing for exploration upside or anything else Beach owns.

And if u bought recently @ around 80 cents, it's been a great ride and there is a lot more to come. :)

Where does your AUD40 per barrel for P2 reserves come from Tricha? 30pc oil rest is gas of some form...

[upside_umop]

I wouldnt take tricha's valuations very seriously...

-$40 is a pie in the sky figure.

-Most production is gas ~65% which achieves lower prices per boe than oil.

-Taking taxes/royaties off tricha's 'formula' probably wont even achieve the magical $40 for oil.

-Production costs will drop this further.

-Time value of money is not taken into account...

Sorry tricha, but your really ought to diclose that those figures are 'pie in the sky.'

[shasta]

I wouldnt take tricha's valuations very seriously...

-$40 is a pie in the sky figure.

-Most production is gas ~65% which achieves lower prices per boe than oil.

-Taking taxes/royaties off tricha's 'formula' probably wont even achieve the magical $40 for oil.

-Production costs will drop this further.

-Time value of money is not taken into account...

Sorry tricha, but your really ought to diclose that those figures are 'pie in the sky.'

Thats funny i mentioned about the wild PPP valuations (which were outrageous), & everyone was talking about what premium there was, rather than discounting, in relation to there reserves.

Can't have it both ways huh?

BPT - Weekly Drilling

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173164

Tricha's figures aren't that far off actually ;)

Read page 9, 17, 19 in particular

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172602

$50/bbl profit for Oil, & $20/bbl equivalent profit for Gas

Nb, Beach has been getting close to $A100/bbl all year due to hedging!

Mentions 63 mmboe Reserves (Oil 15mmbo, & Gas 238PJ = 48mmboe)

For the Cooper basin only ($1.66 per share)

Oil 50 x 15m = 750m, Gas 20 x 48m = 960m, total = $1710m

Excludes the Contingent Resource of 83 mmboe (conventional gas), & 179mmboe (unconventional gas) - Nb, Santos operates this area & has booked the contingent resource

For Gippsland Basin ($0.24 per share)

Oil reserves are 5mmbo (net to BPT) = 50 x 5m = $250m

There is also a Gas Resource of 249 PJ (roughly 50mmboe) but i won't include that either. (I'll do some more research on this figure & it's origin)

For Egypt ($0.10 per share)

Oil Reserves 2mmbo (net to BPT) = 50 x 2m = $100m

Excludes any potential reserves mentioned in the presentation

Sum of the parts 1710m + 250m + 100m = 2060/1030m shares = $2

If we attribute even $5 profit on the Contingent Resources (that Santos have booked) thats 5 x 262 mmboe = $1310m, over another $1 per share.

2060+1310 = 3370/1030 = $3.27 per share

So Tricha's figures are in the ball park!

Page 19 mentions:

Production, transport & royalty costs are $25/bbl (based on $A90/bbl)

F&D costs are $10/bbl

BTW, BPT closed at 82.5c = ~approx 50% discount to the Cooper Basin Reserves alone :eek:

BPT Base valuation = $2.00

BPT Valuation incl Contingent Resource (Cooper Basin only) = $3.27*

*Using an ultra conservative $5 profit, as unproven reserves at this point.

[upside_umop]

Thats funny i mentioned about the wild PPP valuations (which were outrageous), & everyone was talking about what premium there was, rather than discounting, in relation to there reserves.

Can't have it both ways huh?


I thought I'd be nice about this little subject because you had got it so wrong and let it go...yes, I remember the bagging you gave PPP and the baggings I gave OEL. But who got it right?

You were bagging PPP as a cashbox with no direction when it was in low 20/late teen bracket. You even wanted to bet OEL against it on which one would make it to 50 cents first...well the rest is history even if the bet didnt go ahead.

PPP ~ 49 cents vs OEL ~ 7 cents!

So, shasta, whats this about having it both ways? I dont see any connection I'm sorry.

Maybe if I have time, I'll bring up some quotes from the threads to haunt you! ;) Quickly, go delete em!



BPT - Weekly Drilling

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173164



Cool they've got drilling! No leverage though!



Tricha's figures aren't that far off actually ;)

Read page 9, 17, 19 in particular

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=172602

(1) - $50/bbl profit for Oil, & $20/bbl equivalent profit for Gas

Nb, Beach has been getting close to $A100/bbl all year due to hedging!

Mentions 63 mmboe Reserves (Oil 15mmbo, & Gas 238PJ = 48mmboe)

For the Cooper basin only ($1.66 per share)

(2) Oil 50 x 15m = 750m, Gas 20 x 48m = 960m, total = $1710m

(3) Excludes the Contingent Resource of 83 mmboe (conventional gas), & 179mmboe (unconventional gas) - Nb, Santos operates this area & has booked the contingent resource

(4) For Gippsland Basin ($0.24 per share)

Oil reserves are 5mmbo (net to BPT) = 50 x 5m = $250m

There is also a Gas Resource of 249 PJ (roughly 50mmboe) but i won't include that either. (I'll do some more research on this figure & it's origin)

(5) For Egypt ($0.10 per share)

Oil Reserves 2mmbo (net to BPT) = 50 x 2m = $100m

Excludes any potential reserves mentioned in the presentation

(6) Sum of the parts 1710m + 250m + 100m = 2060/1030m shares = $2

If we attribute even $5 profit on the Contingent Resources (that Santos have booked) thats 5 x 262 mmboe = $1310m, over another $1 per share.

2060+1310 = 3370/1030 = $3.27 per share

So Tricha's figures are in the ball park!

Page 19 mentions:

Production, transport & royalty costs are $25/bbl (based on $A90/bbl)

F&D costs are $10/bbl

BTW, BPT closed at 82.5c = ~approx 50% discount to the Cooper Basin Reserves alone :eek:

BPT Base valuation = $2.00

BPT Valuation incl Contingent Resource (Cooper Basin only) = $3.27*

*Using an ultra conservative $5 profit, as unproven reserves at this point.

As I said, a lot more 'unprofitable' gas than oil.

(1) One question. When does hedging run out? Look to the quarterly activities...looks like you've only 1 million barrels left in hedging. Bugger! No more $50 profit per barrel me thinks...

(2) What your forgeting here is that as fields age, their production declines, and production costs becomes a greater portion of revenue, eventually making it uncommercial. Thats very basic thinking, and I'm surprised you didnt think of that. To think that they're going to make same amount of dollars in cashflow on the first barrel of oil as the last is just ridiculous. Go back to school.

(3) We can talk about contingent resources all day...if your into that, lets look at CUE!

(4) Again, as per (2), your dreaming thinking your going to get the same cashflow per barrel for the last drop of oil as the first.

(5) As per (2) and (4). Same reasoning.

(6) This really confuses me?! Doesnt sum of parts mean using 'cashflow'?

Why use a profit figure?

Oh dear, you havent even taken into account time value of money. C'mon shasta, this is part of 100 level accounting papers.

Maybe I can borrow a few k off you and pay it back in 50 years. No interest though right?

Show me an analyst report that has done a valuation with profit, assumes its constant for all reserves, then does a sum of parts, then doesnt discount it back?

Dont get me wrong, BPT looks 'ok' and probably is undervalued.

However, again, I reiterate, do not trust tricha's valuations. I'll even add for you not to trust shasta's valuation on this particular occasion.

Try that calculation again, using discounted cashflow analysis, then add your parts together.

[macduffy]

Meanwhile, poor old misunderstood Beach trades solidly in its channel, closing today at 82.5c.

And by the way, those AOE shares that it sold recently at around $3-76 were going strong today in a weak market and closed above $4.

;)

[tricha]

Meanwhile, poor old misunderstood Beach trades solidly in its channel, closing today at 82.5c.

And by the way, those AOE shares that it sold recently at around $3-76 were going strong today in a weak market and closed above $4.

;)

They need the money for Cooper :p

anyway upside_umop, yes I should have explained as before.

My calculation is simplistic and I will do a review of the Cat 1 oilers when all the numbers are out.
All based on the same simple calculation and I will be buying\selling\holding accordingly.

Beach is Cheap and AA is onto it :rolleyes: yeah, go figure.

[shasta]

I thought I'd be nice about this little subject because you had got it so wrong and let it go...yes, I remember the bagging you gave PPP and the baggings I gave OEL. But who got it right?

You were bagging PPP as a cashbox with no direction when it was in low 20/late teen bracket. You even wanted to bet OEL against it on which one would make it to 50 cents first...well the rest is history even if the bet didnt go ahead.

PPP ~ 49 cents vs OEL ~ 7 cents!

So, shasta, whats this about having it both ways? I dont see any connection I'm sorry.

Maybe if I have time, I'll bring up some quotes from the threads to haunt you! ;) Quickly, go delete em!



Cool they've got drilling! No leverage though!



As I said, a lot more 'unprofitable' gas than oil.

(1) One question. When does hedging run out? Look to the quarterly activities...looks like you've only 1 million barrels left in hedging. Bugger! No more $50 profit per barrel me thinks...

(2) What your forgeting here is that as fields age, their production declines, and production costs becomes a greater portion of revenue, eventually making it uncommercial. Thats very basic thinking, and I'm surprised you didnt think of that. To think that they're going to make same amount of dollars in cashflow on the first barrel of oil as the last is just ridiculous. Go back to school.

(3) We can talk about contingent resources all day...if your into that, lets look at CUE!

(4) Again, as per (2), your dreaming thinking your going to get the same cashflow per barrel for the last drop of oil as the first.

(5) As per (2) and (4). Same reasoning.

(6) This really confuses me?! Doesnt sum of parts mean using 'cashflow'?

Why use a profit figure?

Oh dear, you havent even taken into account time value of money. C'mon shasta, this is part of 100 level accounting papers.

Maybe I can borrow a few k off you and pay it back in 50 years. No interest though right?

Show me an analyst report that has done a valuation with profit, assumes its constant for all reserves, then does a sum of parts, then doesnt discount it back?

Dont get me wrong, BPT looks 'ok' and probably is undervalued.

However, again, I reiterate, do not trust tricha's valuations. I'll even add for you not to trust shasta's valuation on this particular occasion.

Try that calculation again, using discounted cashflow analysis, then add your parts together.

Unprofitable gas?

I don't think so - BPT clearly state the profit is ~$A20/bbl for Gas

Not as profitable as Oil, but they have a massive amount of gas!

1. As for hedging, Oil seems to be moving higher - the hedging was to protect the downside, you clearly don't understand how it works!

2. I'm well aware of the decline in production wells etc, my figures were rough calcs (of course production is higher to start with, but i haven't gone throught each & every field & attributed a flow rate) - the figures are indicative only, to try to show you Tricha's figures aren't so pie in the sky!

3. Not sure how CUE gets into this argument, great little company.

The contingent resources were delibrately left out of my first figures, but if Santos say they are there, i'll go with there figures.

4 & 5. My figures effectively average this out, as you can see i haven't calculated any discounted cash flows, thats not the purpose of this exercise.

6. This is merely a simple addition. Showing actual cashflows rather than valuing the reserves based on a nominal profit figure will result in a large figure that has to be discounted over the useful life, so again i didnt use a DCF - again not the purpose of this exercise.

7. You seem hung up on using a DCF, yet i'm merely showing a back-of-the-envelope calculation, i'm not an analyst nor am i really wanting to calculate cashflows, it would seem any method i used, you'd argue with!

Perhaps you can provide us with a DCF, instead of knocking the attempts of Tricha & myself.

[tricha]

Unprofitable gas?

I don't think so - BPT clearly state the profit is ~$A20/bbl for Gas

Not as profitable as Oil, but they have a massive amount of gas!

1. As for hedging, Oil seems to be moving higher - the hedging was to protect the downside, you clearly don't understand how it works!

2. I'm well aware of the decline in production wells etc, my figures were rough calcs (of course production is higher to start with, but i haven't gone throught each & every field & attributed a flow rate) - the figures are indicative only, to try to show you Tricha's figures aren't so pie in the sky!

3. Not sure how CUE gets into this argument, great little company.

The contingent resources were delibrately left out of my first figures, but if Santos say they are there, i'll go with there figures.

4 & 5. My figures effectively average this out, as you can see i haven't calculated any discounted cash flows, thats not the purpose of this exercise.

6. This is merely a simple addition. Showing actual cashflows rather than valuing the reserves based on a nominal profit figure will result in a large figure that has to be discounted over the useful life, so again i didnt use a DCF - again not the purpose of this exercise.

7. You seem hung up on using a DCF, yet i'm merely showing a back-of-the-envelope calculation, i'm not an analyst nor am i really wanting to calculate cashflows, it would seem any method i used, you'd argue with!

Perhaps you can provide us with a DCF, instead of knocking the attempts of Tricha & myself.

Yeah good point Shasta, upside_umop give us your best shot.

Do u have a valuation. :confused: I got this feeling u r at the railway station watching the next ship sail past. :)

Any which way I look at it, Beach is cheap.

[upside_umop]

Unprofitable gas?

I don't think so - BPT clearly state the profit is ~$A20/bbl for Gas

Not as profitable as Oil, but they have a massive amount of gas!

1. As for hedging, Oil seems to be moving higher - the hedging was to protect the downside, you clearly don't understand how it works!

2. I'm well aware of the decline in production wells etc, my figures were rough calcs (of course production is higher to start with, but i haven't gone throught each & every field & attributed a flow rate) - the figures are indicative only, to try to show you Tricha's figures aren't so pie in the sky!

3. Not sure how CUE gets into this argument, great little company.

The contingent resources were delibrately left out of my first figures, but if Santos say they are there, i'll go with there figures.

4 & 5. My figures effectively average this out, as you can see i haven't calculated any discounted cash flows, thats not the purpose of this exercise.

6. This is merely a simple addition. Showing actual cashflows rather than valuing the reserves based on a nominal profit figure will result in a large figure that has to be discounted over the useful life, so again i didnt use a DCF - again not the purpose of this exercise.

7. You seem hung up on using a DCF, yet i'm merely showing a back-of-the-envelope calculation, i'm not an analyst nor am i really wanting to calculate cashflows, it would seem any method i used, you'd argue with!

Perhaps you can provide us with a DCF, instead of knocking the attempts of Tricha & myself.

(1) Opps, was meaning less profitable. Hedging? I've done an Honours paper on Risk Management shasta. I could talk delta's, gamma's and vega's through your head mate.

Straight from their quarterly:



Beach continues to have protection from lower oil prices with over 1 million barrels of oil sales in 2009/10 hedged at a minimum of US$60/bbl (including 600 kbbls at a minimum of US$80/bbl).
Beach, in addition to it's natural hedge of oil against the USD/AUD, also has further protection from unfavourable currency movements with AUD/USD currency ceilings and collars in place capping the exchange rate for the hedged amounts shown


They have hedging in place for both $80 and $60.

$60 is out of the money. $80 is in. Once this runs out, as long as oil prices are below $80, their profit margins wont be as high.

Contracts covering 1 million barrels is only just over 10% of production. Looks like they used most of their hedging on the 09 financial year. Lower oil prices will be realised this year, unless as you say, oil continues tracking up. The best way to forecast prices is to see what the market is thinking. Use oil futures.

You will also notice that BPT have taken out a 'collar' on foreign currency. So, they somewhat limited to the upside, just not with oil.


(2) Rough estimates make very rough calculations and sloppy valuations. Dont do it.

(3) CUE has a lot of 'contingent' resources.

(4), (5), and (6) - This was completely the purpose of this exercise. If your not discounting, your not doing it right. What type of valuation is it if its not a 'sum of parts'?

(7) Hung up on DCF? Only mentioning it because its what most reputable analysts use! I'd argue with major misconceptions in any calculation, shasta, and yours have many. DCF is the industry standard and to do like your doing is unheard of. Maybe you can do a bit of emperical testing and see whether this really does work? Compare against analyst valuations? Do this for multiple companies, and if it works giving consistent results, good for you. I'd say it wont hold up though.

There is no way I will be doing a DCF calculation for this company. It would take days if not weeks. I have far too much on my plate with my Finance Honours, and much prefer smaller, easier to calculate companies.

I'm quite happy to keep you two honest, and critique for the sake of my fellow sharetrader buddies funds.

[tricha]

(1) Opps, was meaning less profitable. Hedging? I've done an Honours paper on Risk Management shasta. I could talk delta's, gamma's and vega's through your head mate.

Straight from their quarterly:



They have hedging in place for both $80 and $60.

$60 is out of the money. $80 is in. Once this runs out, as long as oil prices are below $80, their profit margins wont be as high.

Contracts covering 1 million barrels is only just over 10% of production. Looks like they used most of their hedging on the 09 financial year. Lower oil prices will be realised this year, unless as you say, oil continues tracking up. The best way to forecast prices is to see what the market is thinking. Use oil futures.

You will also notice that BPT have taken out a 'collar' on foreign currency. So, they somewhat limited to the upside, just not with oil.


(2) Rough estimates make very rough calculations and sloppy valuations. Dont do it.

(3) CUE has a lot of 'contingent' resources.

(4), (5), and (6) - This was completely the purpose of this exercise. If your not discounting, your not doing it right. What type of valuation is it if its not a 'sum of parts'?

(7) Hung up on DCF? Only mentioning it because its what most reputable analysts use! I'd argue with major misconceptions in any calculation, shasta, and yours have many. DCF is the industry standard and to do like your doing is unheard of. Maybe you can do a bit of emperical testing and see whether this really does work? Compare against analyst valuations? Do this for multiple companies, and if it works giving consistent results, good for you. I'd say it wont hold up though.

There is no way I will be doing a DCF calculation for this company. It would take days if not weeks. I have far too much on my plate with my Finance Honours, and much prefer smaller, easier to calculate companies.

I'm quite happy to keep you two honest, and critique for the sake of my fellow sharetrader buddies funds.

Degrees, hmm, u r going to be a long time at that railway station, I think :eek:

[upside_umop]

Yeah good point Shasta, upside_umop give us your best shot.

Do u have a valuation. :confused: I got this feeling u r at the railway station watching the next ship sail past. :)

Any which way I look at it, Beach is cheap.

Tricha, no valuation. Better things to spend time on.

My ships have been sailing much faster than BPT.

As I've said, BPT probably is undervalued, its just not my cup of tea as it doesnt appear to have 'grunt'.

[upside_umop]

Degrees, hmm, u r going to be a long time at that railway station, I think :eek:

Says the guy who sold his CUE ~ month back :eek:

Listen tricha, i've been doing just fine, dont you worry about that!

Opps, your hurting your buddy too. Shasta should have a degree too!

[Huang Chung]

Upside....being a finance honours, I'd love to get your view on the Capital Asset Pricing Model someday.

My 2c.....Can't see what the catalyst would be for a significant re-rating of Beach (other than the poo going north of $100 a bbl again).

[tricha]

Says the guy who sold his CUE ~ month back :eek:

Listen tricha, i've been doing just fine, dont you worry about that!

Opps, your hurting your buddy too. Shasta should have a degree too!

There u go again, what has Cue got to do with Beach :confused: and get your facts right i'm not pissing in Shasta's pocket - "OEL is like ADY unfortunately Shasta, they couldn't run a pissup in a brewery.:("

OEL was one of my worst mistakes. It's a gambling stock. BPT on the other hand has CASH, NO DEBT and plenty of Liquid Gold.

[upside_umop]

Upside....being a finance honours, I'd love to get your view on the Capital Asset Pricing Model someday.

My 2c.....Can't see what the catalyst would be for a significant re-rating of Beach (other than the poo going north of $100 a bbl again).

Its an interesting model alright, will have to start a topic up some time and share views on it. Theres so much about it...a lot of emperical research against it too. Ie Fama-French. Save it for another thread some day.


There u go again, what has Cue got to do with Beach :confused: and get your facts right i'm not pissing in Shasta's pocket - "OEL is like ADY unfortunately Shasta, they couldn't run a pissup in a brewery.:("

OEL was one of my worst mistakes. It's a gambling stock. BPT on the other hand has CASH, NO DEBT and plenty of Liquid Gold.

Your pissing in shastas pocket by pissing on degrees tricha.

Whats CUE got to do with it? You missed the last 'train' while you were stuck on the beach. Thats all.

BPT is safe, no doubt. Your valuations arent thats all I'm saying.

Enough from me today/tonight.

[shasta]

Its an interesting model alright, will have to start a topic up some time and share views on it. Theres so much about it...a lot of emperical research against it too. Ie Fama-French. Save it for another thread some day.



Your pissing in shastas pocket by pissing on degrees tricha.

Whats CUE got to do with it? You missed the last 'train' while you were stuck on the beach. Thats all.

BPT is safe, no doubt. Your valuations arent thats all I'm saying.

Enough from me today/tonight.

Grow up you have a lot to learn, & i'm afraid you won't learn much quoting old accounting degree books either.

You could learn alot from those of us with "real world" commercial experience.

Neither Tricha nor i are passing off our valuations as being "technically correct", or that we are licensed sharebrokers/analysts, but simply highlighting "perceived value", if you can't see that then you shouldn't in the sharemarket period.

Now let's keep the thread to BPT matters

[Huang Chung]

Fun and games in the gold patch....

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00973207

[Corporate]

Oh man. Arrows annoucement makes beach look like clowns!

[shasta]

Oh man. Arrows annoucement makes beach look like clowns!

How so?

Most of the reserves upgrade was from AOE's massive drilling program, not from Tipton West.

Yes you could argue Beach sold it too cheap, but 40% of a field that would only otherwise produce domestic gas (& Australia has low prices, unlike what eg OEL gets in Turkey) in a crowded market probably was non core.

Unless Beach wanted to join the ever growing que for the Gladstone LNG export gas projects, this was always going to be sold off.

The market wasn't valuing BPT's 40% in Tipton West anywhere near what they eventually got for it, & i'd argue the market still doesn't!

Beach don't have the capacity to develop an LNG train (nor do AOE for that matter). AOE will likely go the way of Shell :rolleyes:

Before too long, the big boys, will consolidate all the minor players (BOW, VPE, ESG, LNG, MPO, MEL, BUL, WCL, etc) into probably 2 or 3 projects.

[bermuda]

How so?

Most of the reserves upgrade was from AOE's massive drilling program, not from Tipton West.

Yes you could argue Beach sold it too cheap, but 40% of a field that would only otherwise produce domestic gas (& Australia has low prices, unlike what eg OEL gets in Turkey) in a crowded market probably was non core.

Unless Beach wanted to join the ever growing que for the Gladstone LNG export gas projects, this was always going to be sold off.

The market wasn't valuing BPT's 40% in Tipton West anywhere near what they eventually got for it, & i'd argue the market still doesn't!

Beach don't have the capacity to develop an LNG train (nor do AOE for that matter). AOE will likely go the way of Shell :rolleyes:

Before too long, the big boys, will consolidate all the minor players (BOW, VPE, ESG, LNG, MPO, MEL, BUL, WCL, etc) into probably 2 or 3 projects.

Hi Shasta, How are you going?

It would have to be a pretty good reason for Beach to sell bearing in mind that Nick Davies from Arrow plans to quadruple their market cap within 4 years. Perhaps Beach can do better with some very astute purchases, ITC being one of them?

But if I had my choice I would go with Arrow. Must get round to buying some.
Cheers.

[shasta]

Hi Shasta, How are you going?

It would have to be a pretty good reason for Beach to sell bearing in mind that Nick Davies from Arrow plans to quadruple their market cap within 4 years. Perhaps Beach can do better with some very astute purchases, ITC being one of them?

But if I had my choice I would go with Arrow. Must get round to buying some.
Cheers.

I'm doing ok thanks Bermuda

Beach have concluded a deal with ADE & are after DLS, now these companies are tiny, but much like BOW has done (with there CSG), they are tying up known productive areas of the Cooper basin.

I should have loaded up on AOE when they were around $2 (i posted enough about it at the time!)

AOE was my pick for the share comp $2.54 > $4+ & more to go...

My only punt on CSG has been with ESG & VPE/VPEO...

Probably should accummulate some BOW myself :cool:

[Corporate]

How so?

Most of the reserves upgrade was from AOE's massive drilling program, not from Tipton West.

Yes you could argue Beach sold it too cheap, but 40% of a field that would only otherwise produce domestic gas (& Australia has low prices, unlike what eg OEL gets in Turkey) in a crowded market probably was non core.

Unless Beach wanted to join the ever growing que for the Gladstone LNG export gas projects, this was always going to be sold off.

The market wasn't valuing BPT's 40% in Tipton West anywhere near what they eventually got for it, & i'd argue the market still doesn't!

Beach don't have the capacity to develop an LNG train (nor do AOE for that matter). AOE will likely go the way of Shell :rolleyes:

Before too long, the big boys, will consolidate all the minor players (BOW, VPE, ESG, LNG, MPO, MEL, BUL, WCL, etc) into probably 2 or 3 projects.

Sorry Shasta - i should have been more clear. I meant they sold AOE to early.

[tricha]

I wouldnt take tricha's valuations very seriously...

-$40 is a pie in the sky figure.

-Most production is gas ~65% which achieves lower prices per boe than oil.

-Taking taxes/royaties off tricha's 'formula' probably wont even achieve the magical $40 for oil.

-Production costs will drop this further.

-Time value of money is not taken into account...

Sorry tricha, but your really ought to disclose that those figures are 'pie in the sky.'

I am waiting for your valuation wimp :D

Beach are getting around $80 a barrel for onshore shore and u reckon $40 profit a barrel, is not a reasonable estimate.

U have been to univerty, time u learned u know nothing.:(




Cooper Basin Western Flank exploration and production success continues to be a highlight for BPT. Gross oil production
from the fi elds is currently >6,000 bpd. Historical F&D costs for this asset have averaged ~A$5/bbl, opex A$10/bbl. A six well
exploration program is planned to commence in late may targeting unrisked gross volumes of ~12 mmbbls – success could net
$0.15-20/sh of value to BPT.

U

[shasta]

I am waiting for your valuation wimp :D

Beach are getting around $80 a barrel for onshore shore and u reckon $40 profit a barrel, is not a reasonable estimate.

U have been to univerty, time u learned u know nothing.:(




Cooper Basin Western Flank exploration and production success continues to be a highlight for BPT. Gross oil production
from the fi elds is currently >6,000 bpd. Historical F&D costs for this asset have averaged ~A$5/bbl, opex A$10/bbl. A six well
exploration program is planned to commence in late may targeting unrisked gross volumes of ~12 mmbbls – success could net
$0.15-20/sh of value to BPT.


U


Tricha

Congrads on 3000 posts ol son... :D (Most of em oil related)

BTW Beach has been getting ~$A97/bbl all year

Seems the student is on a wee holiday ;)

[tricha]

Tricha

Congrads on 3000 posts ol son... :D (Most of em oil related)

BTW Beach has been getting ~$A97/bbl all year

Seems the student is on a wee holiday ;)

Cheers for that Shasta, I was being conservative, I wonder if our friend can do a break down on profit per barrel. :confused:

[Oiler]

Tricha

Congrads on 3000 posts ol son... :D (Most of em oil related)

BTW Beach has been getting ~$A97/bbl all year

Seems the student is on a wee holiday ;)

Hey Shasta do you know where Umop went :confused:
I am surprised that he hasn't responded to Tricha's and your posts by now even if he is on holiday. :(

[shasta]

Hey Shasta do you know where Umop went :confused:
I am surprised that he hasn't responded to Tricha's and your posts by now even if he is on holiday. :(

Nope, hopefully somewhere nice & warm...(ie, NOT Wellington!)

His user name says he's been banned :eek:

Can't see it being anything but temporary though?

Can't wait for his DCF calculations on BPT :D

[macduffy]

Beach still trading in that nice, tidy channel.

But not complaining. Most of my other O&G stocks were either down today (AOE, BOW, STO ) or steady ( AWE, PPP, CUE ).

:D

[macduffy]

Beach still trading in that nice, tidy channel.

But not complaining. Most of my other O&G stocks were either down today (AOE, BOW, STO ) or steady ( AWE, PPP, CUE ).

:D

Correction to that.

PPP were up 1.5c (2.9%) to what I think is a new high!

;)

[tricha]

Nope, hopefully somewhere nice & warm...(ie, NOT Wellington!)

His user name says he's been banned :eek:

Can't see it being anything but temporary though?

Can't wait for his DCF calculations on BPT :D

WELL, he must have thrown all the toys out of the cot.

I wish I had read it. :rolleyes:

[ELYOB]

Read todays announcement by ROC . BMG is down to a trickle 1,100bblod , and production going forward is full of disruptions. This will effect the next quarterly some .

[Huang Chung]

Read todays announcement by ROC . BMG is down to a trickle 1,100bblod , and production going forward is full of disruptions. This will effect the next quarterly some .

Not too flash for an offshore well, eh Elyob :confused:.

BMG, Puffin, Galoc, and the regular great expectation followed by the dredded 'P&A' announcement.....no wonder I sleep better staying when I stay away from the oil and gas sector.

[shasta]

Not too flash for an offshore well, eh Elyob :confused:.

BMG, Puffin, Galoc, and the regular great expectation followed by the dredded 'P&A' announcement.....no wonder I sleep better staying when I stay away from the oil and gas sector.

Time to get out i'm afraid...:(

First sign of trouble, should be the first chance to bail IMO

HC - You're right so much can go wrong in the O&G game

I'll take a small profit & move on

[macduffy]

Time to get out i'm afraid...:(

First sign of trouble, should be the first chance to bail IMO

HC - You're right so much can go wrong in the O&G game

I'll take a small profit & move on

Not like you, shasta, to give up on the beach so easily?

Gippsland (BMG) represents only 6mmboe of BPT's 2P reserves so it's far from the main game. The Cooper basin remains Beach's major interest and so long as this continues to perform I think I'll hang on to my small interest. At least it gives me something to grizzle about from time to time!

:D

[shasta]

Not like you, shasta, to give up on the beach so easily?

Gippsland (BMG) represents only 6mmboe of BPT's 2P reserves so it's far from the main game. The Cooper basin remains Beach's major interest and so long as this continues to perform I think I'll hang on to my small interest. At least it gives me something to grizzle about from time to time!

:D

Might also sell down on some OEL...:eek:

This rally has been a steep one & i don't wanna be left holding the baby

I'm going against the herd, maybe there's some puff left in this :confused:

[Oiler]

WELL, he must have thrown all the toys out of the cot.

I wish I had read it. :rolleyes:

Tricha I think he got banned from the site for "speaking his mind"

I thought we beleived in "freedom of speech" ?? apparently not. :eek:

Hopefully whoever asked for him to be removed will allow him back to have his say. :rolleyes:

[macduffy]

Tricha I think he got banned from the site for "speaking his mind"

I thought we beleived in "freedom of speech" ?? apparently not. :eek:

Hopefully whoever asked for him to be removed will allow him back to have his say. :rolleyes:

I'll second that, Oiler.

While we don't want to see personal squabbles, all views ought to be allowed in the interests of as full discussion as possible. Besides, plenty of examples of more extreme language have got past the moderators as far as I can tell.

:cool:

[tricha]

Tricha I think he got banned from the site for "speaking his mind"

I thought we beleived in "freedom of speech" ?? apparently not. :eek:

Hopefully whoever asked for him to be removed will allow him back to have his say. :rolleyes:

Hmm depends what the speech was Oiler,

upside_umop - "There is no way I will be doing a DCF calculation for this company. It would take days if not weeks. I have far too much on my plate with my Finance Honours, and much prefer smaller, easier to calculate companies."

I'm sticking with my valuation of Beach, until someone can confirm otherwise, I just wish Upside had stood up and gave it to me, with facts.
Like Corporate did with COE, saved me a heap.:)

[upside_umop]

After a wee banning for my conversation relating to this thread, I'm back!

Selling out so soon shasta? Into better waters like CFE I see...thats got more grunt for sure.

Sorry tricha, you read correctly, I dont have time to do a valuation! Its not even really my thing anymore. I hope you guys arent offended in my critiquing of your analysis, I just dont like seeing people get burnt from having high expectations from people ramping!

Cheers Oiler and MacDuffy, I didnt think it was worthy of a banning either, but never mind..it allowed me to be productive for a week at least!

[shasta]

After a wee banning for my conversation relating to this thread, I'm back!

Selling out so soon shasta? Into better waters like CFE I see...thats got more grunt for sure.

Sorry tricha, you read correctly, I dont have time to do a valuation! Its not even really my thing anymore. I hope you guys arent offended in my critiquing of your analysis, I just dont like seeing people get burnt from having high expectations from people ramping!

Cheers Oiler and MacDuffy, I didnt think it was worthy of a banning either, but never mind..it allowed me to be productive for a week at least!

I sold down, not completely out, dont ask me why...:confused:

Like Macduffy i want to keep an interest in BPT & i did say i'd stick around for the Geothermal drill.

Have been doing some research on Geothermal energy, & i like it's chances of taking off, especially in South Australia (away from the CSG guys, except Sapex/Linc).

Will be interesting to see what the Paralana drill results show up

Sold down some OEL (funds needed elsewhere), but the BPT funds went into CFE.

[macduffy]

Beach, the stock I love to hate!

:D

I almost sold the last of mine today, marshalling funds for the NAB SPP which at $21-50 is an offer too good to refuse. But I won't get enough for my BPT to make up to the $15,000 without also selling something else so it looks like they will live to see another day. At least the weekend!

[soulman]

Beach, the stock I love to hate!

:D

I almost sold the last of mine today, marshalling funds for the NAB SPP which at $21-50 is an offer too good to refuse. But I won't get enough for my BPT to make up to the $15,000 without also selling something else so it looks like they will live to see another day. At least the weekend!

NAB SPP is definitely a go MacDuff. Are you eligible to apply for the full amount?

I traded BPT 2 weeks ago. Paid more than the lows and sold less than the highs. Thems the breaks. Now could buy them back cheaper. Looks like to the 70's again for BPT.

[macduffy]

NAB SPP is definitely a go MacDuff. Are you eligible to apply for the full amount?

I traded BPT 2 weeks ago. Paid more than the lows and sold less than the highs. Thems the breaks. Now could buy them back cheaper. Looks like to the 70's again for BPT.

Well, I hope not. ( 70's again for BPT, that is.)

Part of my reason for holding, apart from the fact that selling wouldn't give me enough $$$'s is that I'm reasonably confident that the SP will get a short term boost when the result is announced. It should be a big number with the Tipton West proceeds "tipped in " and I'm counting on the BPT people putting out another upbeat release. They do do these things pretty well and there will be another dividend to tempt the DLS recalcitrants.
If that is the case it might be my opportunity to exit while the rosy glow is still there.

Yes, I get to apply for the full $15,000 in the NAB SPP. I passed on the last one for reasons which I don't remember. Probably the state of the market at the time and/or there wasn't the same fat margin in that offer.

[shasta]

Well, I hope not. ( 70's again for BPT, that is.)

Part of my reason for holding, apart from the fact that selling wouldn't give me enough $$$'s is that I'm reasonably confident that the SP will get a short term boost when the result is announced. It should be a big number with the Tipton West proceeds "tipped in " and I'm counting on the BPT people putting out another upbeat release. They do do these things pretty well and there will be another dividend to tempt the DLS recalcitrants.
If that is the case it might be my opportunity to exit while the rosy glow is still there.

Yes, I get to apply for the full $15,000 in the NAB SPP. I passed on the last one for reasons which I don't remember. Probably the state of the market at the time and/or there wasn't the same fat margin in that offer.

Macduffy

You not hanging around for the geothermal project drill results?

Given the numbers that PAX are throwing around, this could be huge?

[macduffy]

Macduffy

You not hanging around for the geothermal project drill results?

Given the numbers that PAX are throwing around, this could be huge?

Well, never say never of course but that geothermal drilling will take a very long time and as I understand it it's not yet a proven technology/process in the way that NZ geothermal is.

For me, a lot will depend on the way it's dressed up in the forthcoming profit announcement.

[shasta]

Well, never say never of course but that geothermal drilling will take a very long time and as I understand it it's not yet a proven technology/process in the way that NZ geothermal is.

For me, a lot will depend on the way it's dressed up in the forthcoming profit announcement.

BPT - Chiton-1 Drill on PEL 91 (BPT 40% & DLS 60%)

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173369

Nice map on page 2 shows why BPT are after DLS

Remember BPT already has 75% of PEL 92 (with 2 recent oil discoveries, COE has the other 25%).

An oil strike might make it hard for BPT to secure DLS, but a dry hole might be enough to snear DLS.

What's the bet there's oil around PEL 91? (Notice Growler in the map ;))

BPT/PTR - Geothermal Ann

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173367

[bermuda]

BPT - Chiton-1 Drill on PEL 91 (BPT 40% & DLS 60%)

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173369

Nice map on page 2 shows why BPT are after DLS

Remember BPT already has 75% of PEL 92 (with 2 recent oil discoveries, COE has the other 25%).

An oil strike might make it hard for BPT to secure DLS, but a dry hole might be enough to snear DLS.

What's the bet there's oil around PEL 91? (Notice Growler in the map ;))

BPT/PTR - Geothermal Ann

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173367

Thanks Shasta for this info. I am always interested in Growler...and Snatcher.

Something is going on between BPT and DLS. I think DLS are complaining that they have been undervalued. All bodes well for all companies involved. Of course I continually am looking at Beach to get any hint of their next takeover. They are cashed up ready to go and I reckon they like this Cooper Basin area,,,as does Santos and others.

I am hoping they have ITC in their sights. Perhaps they are waiting for Snatcher 2 to come in.

Thanks again for that reference.

[suntboy]

hi guys
dont know if this helps but there as a small mention in the australian yesterday hinting that the deal wont go ahead as time runs out this friday and beach has only secured 21 % of dls with little or no hope of a time extension

cheers

[whatsup]

Sun..., Is the take over conditional of BPT securing a certain % of DLS, if so what happens to the shares that BPT have in DLS if they dont reach that threash hold?

[macduffy]

Pending sboy's response, I'm not a DLS shareholder but my understanding of the offer is:

Offer closes 14 August but I don't think that BPT have declared that a final date, so there may be room to extend.

The offer is now unconditional so I guess that means that BPT hold on to any shares that have accepted. About 22% at last disclosure.

BPT have declared the consideration to be final so they can't increase the offer. They can, of course mount a new offer when this is allowed.

Someone has been buying DLS at well above the theoretical value of BPT's offer which indicates that another bid is expected, or at least that someone thinks that it will be!

Happy to be corrected on any of this.

[whatsup]

Mac..., or they are paying the drill premium that is presently in play which is what BPT was out to get for .03 as their offer, all will be reveiled in the next 30 days with the results of the 2 holes known.

[macduffy]

Mac..., or they are paying the drill premium that is presently in play which is what BPT was out to get for .03 as their offer, all will be reveiled in the next 30 days with the results of the 2 holes known.

Indeed! Beach has made a big thing about the Eastern Flank of the Cooper in recent times. Doesn't look as if they'll be able to increase their interest here quite as cheaply as they had hoped.

;)

[shasta]

Indeed! Beach has made a big thing about the Eastern Flank of the Cooper in recent times. Doesn't look as if they'll be able to increase their interest here quite as cheaply as they had hoped.

;)

PTR: South Australia Future Energy Conference Presentation

http://www.stocknessmonster.com/news-item?S=PTR&E=ASX&N=173493

I thought Beach holders & followers may enjoy this presentation, to elaborate a bit more on the Paralana geothermal project.

The presentation also mentions the other geothermal plays.

As well as PTR, i do like the potential in PAX ;)

[soulman]

Shasta, when you say BPT is an action coy, you are not joking.

Sold AOE holding too early and would have enjoyed a near 20% premium, and to taking over 22% of DLS and now sitting on 100% premium.

Would it be weird (if DLS stays at current prices and high volume) for BPT to offload all their DLS shares at current prices. I think their T/O ratio was about 3.2 cents for DLS and DLS closed today at 6.2 cents. Certainly worth a ponder and would ASIC ask some question if it were to happen.

[shasta]

Shasta, when you say BPT is an action coy, you are not joking.

Sold AOE holding too early and would have enjoyed a near 20% premium, and to taking over 22% of DLS and now sitting on 100% premium.

Would it be weird (if DLS stays at current prices and high volume) for BPT to offload all their DLS shares at current prices. I think their T/O ratio was about 3.2 cents for DLS and DLS closed today at 6.2 cents. Certainly worth a ponder and would ASIC ask some question if it were to happen.

DLS will also be moving up on anticipation of the PEL 91 drilling with BPT (DLS 60% BPT 40%)

I posted a map of the fairway, next to BPT/COE's PEL 92 (with 2 recent oil discoveries) & it showed the Growler field (VPE/BOW) up the top.

Good chance PEL 91 is sitting on an oil fairway, but we both know BPT wont move up in anticipation, though DLS is more likely to.

The drill results will be interesting ;)

[STRAT]

Thought Id have another look at this one. Havent looked at the chart for a while. I see BPT is still doing what BPT does best. An on going trading range or is it? Do I spy an accending triangle.

Was wondering if anyone would bother to trade the range until I looked at the candles. Too much like hard work I would think.

[macduffy]

DLS will also be moving up on anticipation of the PEL 91 drilling with BPT (DLS 60% BPT 40%)

I posted a map of the fairway, next to BPT/COE's PEL 92 (with 2 recent oil discoveries) & it showed the Growler field (VPE/BOW) up the top.

Good chance PEL 91 is sitting on an oil fairway, but we both know BPT wont move up in anticipation, though DLS is more likely to.

The drill results will be interesting ;)

You're so right, shasta.

I suspect that Growler would have to be another Ghawar to move ole Billion Share Beach!

:)

[tricha]

Lifes going to be a Beach.

Bought back in today at 80.5 cents, good to see management stuck to their guns on Drillsearch.
What a trading stock, bargain below 80 cents and can not really expect that again.
Double dividend comong up :confused:

Beach Petroleum Limited ("Beach") will reward shareholders with a fully-franked special dividend of $0.02 (2 cents) per Beach share, payable on 30 September 2009 to all Beach shareholders registered on 31 August 2009.

Special + yearly one ??????????????

Mr Market, hmm, good news and Beach goes down. With the 22% of DLS owned, I guess u can say they own 50% of this new Field Discovery :rolleyes:


Re: Chiton-1 (PEL 91) - New Field Oil Discovery
Beach Petroleum Ltd is pleased to announce that Chiton-1, in PEL 91, is an oil discovery. Logging While Drilling (LWD) data indicates that the well has encountered a 5.5 metre oil zone in the Namur Sandstone. Based on the data currently available, Beach assesses recoverable oil reserves in the discovery to be in the range 0.04 to 0.39 million barrels (P90 to P10) with a P50 reserve of 0.12 million barrels. The well will be cased for future production and further evaluation of relevant data will be carried out to refine the resource estimate.
Chiton-1 has reached final total depth of 2010m in Pre-Permian basement and preparations are underway to run casing. No further hydrocarbon shows were encountered.
Interests in PEL-91 are Beach Petroleum Ltd (40%) and Drillsearch Energy Ltd (60%).
Yours faithfully,
Hector Gordon
Chief Executive Officer
Competent Persons Statement
This information was compiled by Mr Neil Gibbins, who is a full time employee of Beach Petroleum and has consented to the inclusion of this information in the form and context in which it appears.

[macduffy]

Old news, tricha.

The special dividend was announced back on 23 July ( although it's not payable until 30 September).
A profitable company like BPT paying a "special dividend" surely implies that this is additional to the usual distribution and is welcome after the miserly three-quarters of one cent interim. But this was as much an inducement to DLS shareholders to accept the takeover offer as it was a gesture of generosity to BPT shareholders. And the market seems to have interpreted it that way.

:rolleyes:

[tricha]

Old news, tricha.

The special dividend was announced back on 23 July ( although it's not payable until 30 September).
A profitable company like BPT paying a "special dividend" surely implies that this is additional to the usual distribution and is welcome after the miserly three-quarters of one cent interim. But this was as much an inducement to DLS shareholders to accept the takeover offer as it was a gesture of generosity to BPT shareholders. And the market seems to have interpreted it that way.

:rolleyes:

It's old news that's right Macduffy, but "to all Beach shareholders registered on 31 August 2009." which means I have bounced back into, ....

1 - still pick up the special dividend.

2 - might get a normal one on top.

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding. ;)

[shasta]

It's old news that's right Macduffy, but "to all Beach shareholders registered on 31 August 2009." which means I have bounced back into, ....

1 - still pick up the special dividend.

2 - might get a normal one on top.

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding. ;)


DLS is not just a distraction!

DLS/BPT have struck oil :cool:

I can't post the link, my PDF file links appear broken :(

[STRAT]

DLS is just a minor distraction for a company that is under valued and if u bounce the up's and downs, it can be very rewarding. ;)
Good on ya Tricha, that would require talent :cool:

[tricha]

DLS is not just a distraction!

DLS/BPT have struck oil :cool:

I can't post the link, my PDF file links appear broken :(

I thought u were abandoning this fine ship Shasta :confused:, I posted the oil find a couple of pages below Re: Chiton-1 (PEL 91) - New Field Oil Discovery

Thats just one very good reason that I bought back in cheap again, u will notice on the picture below that the lows are moving higher, so I would be very lucky to buy under 80 cents now.
But if it does I will be like a pig in a trough :p

BPTBeach Petroleum Limited FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/BPT/1y/line/30/0/ Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years

[macduffy]

BPT have announced that (the next) five dividend payments will be underwritten for reinvestment.

This of course means that they will retain the cash but that the billion share body (1.047b at last count) will swell even bigger!

I may have to reconsider holding my last small share of the b**ch.

:rolleyes:

[shasta]

I thought u were abandoning this fine ship Shasta :confused:, I posted the oil find a couple of pages below Re: Chiton-1 (PEL 91) - New Field Oil Discovery

Thats just one very good reason that I bought back in cheap again, u will notice on the picture below that the lows are moving higher, so I would be very lucky to buy under 80 cents now.
But if it does I will be like a pig in a trough :p

BPTBeach Petroleum Limited FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/BPT/1y/line/30/0/ Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years


I usually split my buy/sells into two transactions (minimise brokerage) & with BPT i sold down half, but i did say i'd be around for the Paralana Geothermal drill with PTR & Tru Energy :D

Beach is like a schzophrenic on "P" - they never sit still & are very active & are all over the show... :rolleyes:

[macduffy]

"Beach is like a schzophrenic on "P" - they never sit still & are very active & are all over the show... "

I'd welcome a bit more activity and upward volatility in the SP!

:rolleyes:

[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 :rolleyes:

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 :rolleyes:

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)

Net profit after tax $260.4 million ($63.7 million)
Normalised net profit after tax $64.2 million ($52.9 million)
Record Oil and gas sales $581 million ($564 million)
Total revenue $987 million ($685 million)
Cash on hand at year end $136.2 million
Zero debt
Divested Tipton West Assets for up to $400million
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)

Net profit after tax $260.4 million ($63.7 million)
Normalised net profit after tax $64.2 million ($52.9 million)
Record Oil and gas sales $581 million ($564 million)
Total revenue $987 million ($685 million)
Cash on hand at year end $136.2 million
Zero debt
Divested Tipton West Assets for up to $400million
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.

http://h1.ripway.com/78963/BPT830.gif

[shasta]

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.

http://h1.ripway.com/78963/BPT830.gif


Appreciate you taking the time to post the chart & comments, Phaedrus.

I thought i saw an ascending triangle within the red & dark green trend lines?

Are you saying because BPT is trendless/range bound, this is a false signal?

Just wanna make sure i'm not seeing things here.

Cheers

[Phaedrus]

Triangles are continuation patterns. As such, they are usually nothing more than a pause in the prevailing trend. That's why the trend leading into a triangle is so important - it is the most likely direction of the breakout. Now, the triangle you see here was simply part of a trading range - there was no preceding trend to be continued. It therefore does not qualify as a triangle top or bottom and so gives us no clue as to its likely breakout direction.
I suppose you could argue that as a continuation pattern, it is most likely to continue whatever preceded it. In this case, a trading range!

[tricha]

Triangles are continuation patterns. As such, they are usually nothing more than a pause in the prevailing trend. That's why the trend leading into a triangle is so important - it is the most likely direction of the breakout. Now, the triangle you see here was simply part of a trading range - there was no preceding trend to be continued. It therefore does not qualify as a triangle top or bottom and so gives us no clue as to its likely breakout direction.
I suppose you could argue that as a continuation pattern, it is most likely to continue whatever preceded it. In this case, a trading range!

You will never see a buy signal for BPT, u will be looking in the rear view mirror. :( as usual, watching the train leave the port.
Anyway how r those PRC shares going.

U must be weak in the head to buy such a fundamentally stuffed company, pouring money down the " black hole of Calcutta "

Comparing BPT to PRC is like comparing a plum to a imaginary coal train.

A plum that delivers regular cheques.:D

[JBmurc]

I see BPT management are really good at lining their own pockets

MD Reginald Nelson took home $5,759,484 including a cash bonus and sign on payment of $2,765,625.
CEO Hector Gordon $1,292,494
CFO and Company Secretary K Pressler just$930,930.

Nice wee pay's even the senior staff-

Gibbins- $710,154
Moseby-$713,593
Master $588,939
Ms Oster $424,001.
Rob Kennedy the Non-Executive Chairman $251,790

[Corporate]

I see BPT management are really good at lining their own pockets

MD Reginald Nelson took home $5,759,484 including a cash bonus and sign on payment of $2,765,625.
CEO Hector Gordon $1,292,494
CFO and Company Secretary K Pressler just$930,930.

Nice wee pay's even the senior staff-

Gibbins- $710,154
Moseby-$713,593
Master $588,939
Ms Oster $424,001.
Rob Kennedy the Non-Executive Chairman $251,790

Great spot. Just confirms to me why I shouldn't be considering BPT.

[Grand Uber]

You will never see a buy signal for BPT, u will be looking in the rear view mirror. :( as usual, watching the train leave the port.
Anyway how r those PRC shares going.

U must be weak in the head to buy such a fundamentally stuffed company, pouring money down the " black hole of Calcutta "

Comparing BPT to PRC is like comparing a plum to a imaginary coal train.

A plum that delivers regular cheques.:D


Tricha it looks like PRC has offered much better trading and investing opportunities (long and short) than BPT has over the past couple of years.

[JBmurc]

Great spot. Just confirms to me why I shouldn't be considering BPT.

Well it's only one thing I'm sure BPT shareholders can find penalty to like about the future of BPT just not to much about the current S/P.

[Phaedrus]

You will never see a buy signal for BPTGosh, that's a bit defeatist, Tricha! When/if Buy signals appear, we will both see them on the very day they are formed - I've even told you what to look for.


Comparing BPT to PRC is like comparing a plum to a imaginary coal train.It is interesting to compare the performance of these 2 stocks over the last year or so. One was in a steep downtrend, triggered Buy signals, rose sharply, triggered Sell signals, then fell. The other was in a steep downtrend which..... flattened out a bit.


Anyway how r those PRC shares going. U must be weak in the head to buy such a fundamentally stuffed company, pouring money down the " black hole of Calcutta"Empty rhetoric, Tricha. Let's look at the facts. Here is a pristine PRC chart. To Buy, you are looking for a strengthening shareprice accompanied by above average volume (Green bars). To Sell, you are looking for a weakening shareprice, accompanied by above average volume. (Red bars) Can you see any Buy or Sell signals here, Tricha?

The On Balance Volume indicator combines these two factors into a single plot. The idea is to Buy when the OBV stops falling and starts rising. You Sell when the OBV stops rising and starts falling. Can you see a Buy signal there, Tricha? Can you see any Sell signals? You should be able to spot them quite easily.

Anyone following these signals made about 50% in less than 2 months.

http://h1.ripway.com/78963/PRC831.gif

[shasta]

BPT - Hits more oil with DLS

http://www.stocknessmonster.com/news-item?S=DLS&E=ASX&N=562752

No wonder the DLS takeover didn't happen

[shasta]

BPT - Hits more oil with DLS

http://www.stocknessmonster.com/news-item?S=DLS&E=ASX&N=562752

No wonder the DLS takeover didn't happen

Update - i see the above ann was followed by a P&A ann :confused:

BPT - Presentation to the Good Oil Conference today

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173799

[macduffy]

Update - i see the above ann was followed by a P&A ann :confused:

BPT - Presentation to the Good Oil Conference today

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173799

Yes, Marino 1 too tight to be a commercial producer.

Talk about "jam tomorrow"! Final divvy of 1cps to be paid on 11 December!

:rolleyes:

[shasta]

Yes, Marino 1 too tight to be a commercial producer.

Talk about "jam tomorrow"! Final divvy of 1cps to be paid on 11 December!

:rolleyes:

BPT - Weekly Drilling Update

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173830

Watching closely to see how Egypt goes, Beach have been very optimistic about this project :rolleyes:

Spikey Beach Update (with CUE)

http://www.stocknessmonster.com/news-item?S=CUE&E=ASX&N=323352

ROC Update - BMG field

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=563422

[shasta]

BPT - Weekly Drilling Update

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=173830

Watching closely to see how Egypt goes, Beach have been very optimistic about this project :rolleyes:

Spikey Beach Update (with CUE)

http://www.stocknessmonster.com/news-item?S=CUE&E=ASX&N=323352

ROC Update - BMG field

http://www.stocknessmonster.com/news-item?S=ROC&E=ASX&N=563422

Had to liquidate my holdings today, funds required elsewhere...:(

I had hoped to hold to get the Paralana results, but time is not in my favour.

Exited at 79c, which was my buy price :rolleyes:

[macduffy]

Had to liquidate my holdings today, funds required elsewhere...:(

I had hoped to hold to get the Paralana results, but time is not in my favour.

Exited at 79c, which was my buy price :rolleyes:

Congrats, shasta!

I'd be more than happy to quit the beach if I could get my average cost price but the masochist in me makes me hang on to the last few. Yes, there's a lesson in that. Don't hang on to a small parcel "just in case"!

:o

[shasta]

Congrats, shasta!

I'd be more than happy to quit the beach if I could get my average cost price but the masochist in me makes me hang on to the last few. Yes, there's a lesson in that. Don't hang on to a small parcel "just in case"!

:o

Did you see a monkey running across the room?

My back feel a bit lighter :D

[Corporate]

All downward at the beach...I'm watching for a break of the trendline!

[macduffy]

Yes, if it continues this trend the old b***ch will become a takeover target!

The problem is, the offered price won't have to be very attractive now to have shareholders stampeding for the exit.

Disc: Still holding a small remnant.

[soulman]

This stock is frustrating. Doing nothing. No signal.

Wow, sideway at it's best. Looking to exit soon because it's so scary close to the support line.

[Dr_Who]

Why is this stock stuck in the twilight zone going nowhere?

[soulman]

Hello Doc. I exited last week at 79.5 cents. In hindsight now, a bit premature.

It actually went ex-div yesterday (1 cents franked at 10%) and the shares went up for the day so it's been a more than 10% run for BPT in the last fortnight.

There are 2 shares in my blacklist at the mo. BPT and TLS. Will avoid buying them at all cost. They just don't seem to move. Too many shares on issue is one problem.

[macduffy]

Beach announces a non-binding agreement with a US firm to develop the Cooper Basin unconventional gas resource.

http://news.theage.com.au/breaking-news-business/beach-petroleum-in-deal-with-us-firm-20091119-inrv.html

And the market yawns.

[tricha]

Beach announces a non-binding agreement with a US firm to develop the Cooper Basin unconventional gas resource.

http://news.theage.com.au/breaking-news-business/beach-petroleum-in-deal-with-us-firm-20091119-inrv.html

And the market yawns.

Yawns, hmm, entry below 80 cents, 3 cents a share dividend, WELL 1 cent to come and its going up on a bad hair day.

Still way too cheap and if they get to 80 = < I'll buy the ones back I sold at 83.5 ;)

Lifes a Beach :)

http://www.stocknessmonster.com/images/arrow_up.gifLast

84.5
http://www.stocknessmonster.com/images/green_round_small.gif 1 1.2%
6:59 pm

Disclosure - Beach is my prefered oil stock.:p

[shasta]

Yawns, hmm, entry below 80 cents, 3 cents a share dividend, WELL 1 cent to come and its going up on a bad hair day.

Still way too cheap and if they get to 80 = < I'll buy the ones back I sold at 83.5 ;)

Lifes a Beach :)

http://www.stocknessmonster.com/images/arrow_up.gifLast

84.5
http://www.stocknessmonster.com/images/green_round_small.gif 1 1.2%
6:59 pm


Disclosure - Beach is my prefered oil stock.:p



Tricha

What do you make of there plans to shore up there unconventional gas prospects?

[tricha]

Tricha

What do you make of there plans to shore up there unconventional gas prospects?

Unfortunately Shasta it does not come into my calculation, with what I think Beach is worth, around $2.69 ( that is a conservative estimate without any exploration upside and they have plenty )

Due to information from the latest presentation. Going by the data available of 65 million P2 reserves @ $40 a barrel OZ = 2,600,000,000 / 1,030,000,000 shares + 17 cents a share cash = Valuation of $2.69 cents a share.

This is not allowing for exploration upside or anything else Beach owns.

And if u bought recently @ around 80 cents, it's been a great ride and there is a lot more to come. :)

This is old stuff Shasta, but Beach is a steal below 80 cents :)

[STRAT]

All downward at the beach...I'm watching for a break of the trendline!Hi Corporate,
Well, that trend line break came and went. Initially BKP looks like a pretty good trading stock looking at the chart but then one realizes that the extreme ends of the range is only a 14% gain from bottom to top and thats if one times the trade to perfection. Still looks like hard work for bugger all to me.

A convincing break above 85c might paint a different picture but I think Macduffy summed it up well with "And the market yawns."

[tricha]

[quote=shasta;282596]Tricha


Quote:
Originally Posted by shasta http://www.sharetrader.co.nz/images/buttons/viewpost.gif (http://www.sharetrader.co.nz/showthread.php?p=282596#post282596)
Tricha

What do you make of there plans to shore up there unconventional gas prospects?

Unfortunately Shasta it does not come into my calculation, with what I think Beach is worth, around $2.69 ( that is a conservative estimate without any exploration upside and they have plenty )

WELL Shasta, I have revisited this gas prospect and it looks very interesting, added value to Beach, who knows. But with Beach being already so cheap, this makes it even cheaper.

( Taken of Hotcopper)

Beach Petroleum eyes shale gas project

CAMERON ENGLAND

November 16, 2009 11:30pm

..OVER the past two to three years, Beach Petroleum has been quietly building a new position in the Cooper Basin, just northeast of Moomba.

The acreage is in the middle of oil and gas country, and has a gas pipeline running through it.

But conventional oil and gas is not the reason Beach is interested. The Adelaide company aims to be the first Australian company to delve seriously into the shale gas sector - an as-yet-untapped resource that has been undergoing a quiet revolution in the US.

The Barnett shale in north Texas has been responsible for the oil and gas world taking a new look at shale gas.

Explorers have long known that the shales which surround gas reservoirs also contain gas, but it has been difficult to extract the resource.

A company called Mitchell Energy pioneered a method of horizontal drilling and fracture simulation that can liberate the shale gas, and has turned the Barnett shales into what has been suggested could be the biggest on-shore gas play in the US.

Beach managing director Reg Nelson has been following the Barnett story, and has been positioning the company to make its own shale gas play, in a part of the Cooper Basin hosting a geological formation known as the Nappamerri Trough.

It is part of a reimaging of the company, which also involves it being renamed Beach Energy, to reflect the broader nature of the company's activities.

And shale gas is not the only unconventional field Beach is examining.

In his newly created role as managing director, Mr Nelson will also be looking at biodiesel production using algae, gas to diesel projects and more overseas investment.

The company is also earning up to 36 per cent of Petratherm's Paralana geothermal energy project in the Northern Flinders Ranges - one of the more advanced large-scale geothermal projects under development in Australia.

Mr Nelson said it was only in the past 10 years that shale gas had been taken seriously.

"Particularly the past three years, the bigger companies . . . have moved in and the technology is developing almost on a day-by-day basis,'' he said.

After finding what the company thought might be shale gas three or four years ago, they did some work, and found that the best place for shale gas was the Nappamerri Trough, just northeast of the Moomba gas processing plant.

"That's why we've quietly built the position there which, in US terminology, the net position to Beach is 1000 square miles.''

It is too early for Beach to estimate what sort of resource might be in place, but Mr Nelson said the geological structure was similar to the Barnett shale, based on the work done so far. ``It looks very similar to the Barnett in just about every respect,'' he said.

``It actually looks a bit better.??? We've got a lot of work to do to test and see whether it's going to be feasible, but we're now, I think, convinced there's a very large resource there, the potential for a large resource, and from what we know the shales could be world-class.''

Mr Nelson said there was a rush on for shale gas acreage around the world, and he was surprised that it was yet to take off in Australia.

Mr Nelson said Beach was looking at partnering in the power generation area, in order to monetise its gas reserves, and also was examining other areas such as fertiliser and jet fuel production.

[shasta]

[quote=shasta;282596]Tricha


Quote:
Originally Posted by shasta http://www.sharetrader.co.nz/images/buttons/viewpost.gif (http://www.sharetrader.co.nz/showthread.php?p=282596#post282596)
Tricha

What do you make of there plans to shore up there unconventional gas prospects?

Unfortunately Shasta it does not come into my calculation, with what I think Beach is worth, around $2.69 ( that is a conservative estimate without any exploration upside and they have plenty )

WELL Shasta, I have revisited this gas prospect and it looks very interesting, added value to Beach, who knows. But with Beach being already so cheap, this makes it even cheaper.

( Taken of Hotcopper)

Beach Petroleum eyes shale gas project

CAMERON ENGLAND

November 16, 2009 11:30pm

..OVER the past two to three years, Beach Petroleum has been quietly building a new position in the Cooper Basin, just northeast of Moomba.

The acreage is in the middle of oil and gas country, and has a gas pipeline running through it.

But conventional oil and gas is not the reason Beach is interested. The Adelaide company aims to be the first Australian company to delve seriously into the shale gas sector - an as-yet-untapped resource that has been undergoing a quiet revolution in the US.

The Barnett shale in north Texas has been responsible for the oil and gas world taking a new look at shale gas.

Explorers have long known that the shales which surround gas reservoirs also contain gas, but it has been difficult to extract the resource.

A company called Mitchell Energy pioneered a method of horizontal drilling and fracture simulation that can liberate the shale gas, and has turned the Barnett shales into what has been suggested could be the biggest on-shore gas play in the US.

Beach managing director Reg Nelson has been following the Barnett story, and has been positioning the company to make its own shale gas play, in a part of the Cooper Basin hosting a geological formation known as the Nappamerri Trough.

It is part of a reimaging of the company, which also involves it being renamed Beach Energy, to reflect the broader nature of the company's activities.

And shale gas is not the only unconventional field Beach is examining.

In his newly created role as managing director, Mr Nelson will also be looking at biodiesel production using algae, gas to diesel projects and more overseas investment.

The company is also earning up to 36 per cent of Petratherm's Paralana geothermal energy project in the Northern Flinders Ranges - one of the more advanced large-scale geothermal projects under development in Australia.

Mr Nelson said it was only in the past 10 years that shale gas had been taken seriously.

"Particularly the past three years, the bigger companies . . . have moved in and the technology is developing almost on a day-by-day basis,'' he said.

After finding what the company thought might be shale gas three or four years ago, they did some work, and found that the best place for shale gas was the Nappamerri Trough, just northeast of the Moomba gas processing plant.

"That's why we've quietly built the position there which, in US terminology, the net position to Beach is 1000 square miles.''

It is too early for Beach to estimate what sort of resource might be in place, but Mr Nelson said the geological structure was similar to the Barnett shale, based on the work done so far. ``It looks very similar to the Barnett in just about every respect,'' he said.

``It actually looks a bit better.??? We've got a lot of work to do to test and see whether it's going to be feasible, but we're now, I think, convinced there's a very large resource there, the potential for a large resource, and from what we know the shales could be world-class.''

Mr Nelson said there was a rush on for shale gas acreage around the world, and he was surprised that it was yet to take off in Australia.

Mr Nelson said Beach was looking at partnering in the power generation area, in order to monetise its gas reserves, and also was examining other areas such as fertiliser and jet fuel production.

BPT - Change of Name :eek:

Change is to reflect BPT's modern menu of energy solutions

Beach Energy Limited is the new name

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=175633

Also some good news out of Egypt

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=175624

[macduffy]

[quote=tricha;282747]

BPT - Change of Name :eek:

Change is to reflect BPT's modern menu of energy solutions

Beach Energy Limited is the new name

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=175633

Also some good news out of Egypt

http://www.stocknessmonster.com/news-item?S=BPT&E=ASX&N=175624

A rose by any other name would smell as sweet. Or not.

With apologies to the bard.

;)

[shasta]

[quote=shasta;283285]

A rose by any other name would smell as sweet. Or not.

With apologies to the bard.

;)

Someone must have kicked the BPT dog along :eek:

Unconventional Gas strategy

http://www.asx.com.au/asxpdf/20091126/pdf/31mbmknsqbspbq.pdf

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=BPT

[STRAT]

A convincing break above 85c might paint a different picture and there it is :eek::eek::eek::eek::eek::eek:

[tricha]

and there it is :eek::eek::eek::eek::eek::eek:

Quote, hmm, so many negative people on this thread it is beyond me..

Must have something to do with the Kiwi factor, this has got to have been the most tradeable stock around, but take note - theres change in the wind ;)

BPTBeach Petroleum Limited FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/BPT/1y/line/30/0/


Disclosure 60% cash and Beach is my major holding.

[STRAT]

Quote, hmm, so many negative people on this thread it is beyond me..

Gudday Tricha.
An element of surprise yes but that wasnt negative or positive.
Welcome back by the way

[COLIN]

Gudday Tricha.
An element of surprise yes but that wasnt negative or positive.
Welcome back by the way

I've been circling this stock for a while now, and scanned the valued comments of all you able contributors, but I still can't make up my mind about whether or not to pounce on it (like I've just pounced on the spider that was running around my den just now - got him, first blow!) "Stuck in the twilight zone" as the Good Doctor Who so aptly put it.

"Change of strategic direction" - I've heard that phrase a number of times, in the case of various companies over the many years I've been around, and so often it fails to fire because the same management is still there and they are just trying to chase the latest fad.

And one certainly can't complain about "lack of information" I guess - there's just a swelter of announcements to the ASX each month.

On balance I think I am now poised to strike (No, in case anyone should believe otherwise, I'm not referring here to a certain ST contributor by the said name!). The uptick of the past few days (ignoring Friday, which resulted from overall market Dubai-induced jitters) kind of looks convincing to me. Yes, I'm in!

Strat: 2.40 a.m.! You need to ask your doc for a fresh supply of sleeping pills!

[macduffy]

Hi Colin.

Good luck with the Beach ( now "Energy", I see, not "Petroleum").

It's been my most frustrating stock for a few years now. Always promises a lot but the SP refuses to deliver. Too many shares on issue I reckon.

But I hang on to a few, having passed up opportunites to sell at practically twice today's price, so I guess I might as well hang in a bit longer.

[tricha]

Hi Colin.

Good luck with the Beach ( now "Energy", I see, not "Petroleum").

It's been my most frustrating stock for a few years now. Always promises a lot but the SP refuses to deliver. Too many shares on issue I reckon.

But I hang on to a few, having passed up opportunites to sell at practically twice today's price, so I guess I might as well hang in a bit longer.

WELL Mac Duffy, it's time u re-visited the fundamentals of beach, theres a little book called " Who moved My Cheese " u would most likely find it at the library, Beach has moved on from your dark days, Cash, no debt and oil and a few goodies thrown in to boot.

Go to page 19 of this report and u can draw your own conclusion, happy hunting :)

http://www.stocknessmonster.com/news-item?S=NXS&E=ASX&N=469863 (http://www.stocknessmonster.com/news-item?S=NXS&E=ASX&N=469863)


Half of Nexus’ reserves now in production with start-up at Longtom


Slide 19

[ELYOB]

Beach is an oiler who at the right opportunity will deliver from left field a ripper like Delhi , and it will cost if it is good . They are hunting !

[macduffy]

WELL Mac Duffy, it's time u re-visited the fundamentals of beach, theres a little book called " Who moved My Cheese " u would most likely find it at the library, Beach has moved on from your dark days, Cash, no debt and oil and a few goodies thrown in to boot.

Go to page 19 of this report and u can draw your own conclusion, happy hunting :)

http://www.stocknessmonster.com/news-item?S=NXS&E=ASX&N=469863 (http://www.stocknessmonster.com/news-item?S=NXS&E=ASX&N=469863)


Half of Nexus’ reserves now in production with start-up at Longtom


Slide 19


Hi, tricha.

I'm not denying that the game has changed for Beach nor that the future could be bright if/when the "unconventional gas resource" can be brought into production, one way or another.

It's frustration with the SP that's my gripe and the lack of recognition from the market. OK, that's the opportunity, but meanwhile my decision to lighten up on BPT and put the funds elsewhere has been the right one for me.

:)

[STRAT]

I've been circling this stock for a while now, and scanned the valued comments of all you able contributors, but I still can't make up my mind about whether or not to pounce on it (like I've just pounced on the spider that was running around my den just now - got him, first blow!) "Stuck in the twilight zone" as the Good Doctor Who so aptly put it.

"Change of strategic direction" - I've heard that phrase a number of times, in the case of various companies over the many years I've been around, and so often it fails to fire because the same management is still there and they are just trying to chase the latest fad.

And one certainly can't complain about "lack of information" I guess - there's just a swelter of announcements to the ASX each month.

On balance I think I am now poised to strike (No, in case anyone should believe otherwise, I'm not referring here to a certain ST contributor by the said name!). The uptick of the past few days (ignoring Friday, which resulted from overall market Dubai-induced jitters) kind of looks convincing to me. Yes, I'm in!

Strat: 2.40 a.m.! You need to ask your doc for a fresh supply of sleeping pills!Hi Colin.
I dont know anything of importance about BPT but doesnt "Change of strategic direction" usually mean starting from scratch or at the very least a long wait?
Ive been watching from back when Shasta got in.

Im yet to be convinced its anything other than hard work making a buck out of this one.

ps Dont do pills :D

[COLIN]

Hi Colin.
I dont know anything of importance about BPT but doesnt "Change of strategic direction" usually mean starting from scratch or at the very least a long wait?
Ive been watching from back when Shasta got in.

Im yet to be convinced its anything other than hard work making a buck out of this one.

ps Dont do pills :D

Well, in the end I didn't take the plunge. Got seduced by GIR instead - likely to give me more satisfaction in the long run, I reckon.

[tricha]

Lifes a Beach

another Cheque arrived this week, to easy, anything under 80 cents was a bargain :), anything under 90 cents is so cheap. :D

[macduffy]

Lifes a Beach



Beware of catchy slogans.

:D

I've never regarded BPT as an income stock but if it continues to trade sideways much longer ..............

[tricha]

Lifes a Beach



Beware of catchy slogans.

:D

I've never regarded BPT as an income stock but if it continues to trade sideways much longer ..............

WELL as I keep saying anything under 80 cents is dirt cheap, I doubt we see that price again, to me I bought on a down trend and now I'm reaping the rewards of buying into a fundamental, dirt cheap company.
I'm sticking to my basic $2.40 ish valuation.

How many oil companies pay a dividend ?

How much did you pay for your Beach shares Mac Duffy ?

Lifes a Beach and this Beach is going to Fly.:rolleyes: Anyway the picture below tells a good story.

BPTBeach Energy Limited FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/BPT/1y/line/30/0/

[macduffy]

I paid far too much, tricha but by luck rather than good management managed to quit most of them over the last couple of years at a relatively small loss.

Holding a few for old times sake but I don't really share your enthusiasm for this stock, having moved the proceeds into AOE and BOW.

;)

[tricha]

I paid far too much, tricha but by luck rather than good management managed to quit most of them over the last couple of years at a relatively small loss.

Holding a few for old times sake but I don't really share your enthusiasm for this stock, having moved the proceeds into AOE and BOW.

;)

Why you call it a dog and I call it a blue healer, it's changed it spots and gone to the Beach.
My favourite stock, at the moment, still undervalued.

Beach Energy Limited
Share prices at 17:49:15 Monday, January 04, 2010https://ost.asbbank.co.nz/images/view_depth.gif (https://ost.asbbank.co.nz/CFB13CA50B82921B2E629B2BA2288A4D/Quotes/Quotes.aspx?exchange=ASX&stockCode=BPT&d=true&comp=Beach Energy Limited)
Stock Exchange Bid Offer Last Change* Open High Low Volume Turnover BPTASX9393.593.5 https://ost.asbbank.co.nz/images/up_triangle_green.gif1.591.593.591.52523611$2,336, 118

[bermuda]

Why you call it a dog and I call it a blue healer, it's changed it spots and gone to the Beach.
My favourite stock, at the moment, still undervalued.

Beach Energy Limited
Share prices at 17:49:15 Monday, January 04, 2010https://ost.asbbank.co.nz/images/view_depth.gif (https://ost.asbbank.co.nz/CFB13CA50B82921B2E629B2BA2288A4D/Quotes/Quotes.aspx?exchange=ASX&stockCode=BPT&d=true&comp=Beach Energy Limited)
Stock Exchange Bid Offer Last Change* Open High Low Volume Turnover BPTASX9393.593.5 https://ost.asbbank.co.nz/images/up_triangle_green.gif1.591.593.591.52523611$2,336, 118

There is a rumour out that Arrow are having a look at Beach. Treat it as a rumour but keep your ears open.
Cheers

[Junior80]

I bought some at 88.5c a few days ago. I hope the rumour is true. In saying that, there hasn't been any out of the ordinary volumes going through. However, the sp has been quite positive and have closed positive for the last few trading days.

Has to clear the resistance of around 96c first before traders will take a liking to this stock. As most of you would agree, this is a LT stock and patience is required.

[shasta]

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/Company/ShowPage.aspx?CPID=2081&EID=90630356&PageName=Canadian energy group backs shale gas foray in Cooper Basin

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

[Junior80]

BPT is on the move again today. Tested technical resistance of 96c. Let's see where it finishes today.

slightly above average volume have gone through the first hour.

[macduffy]

BPT is on the move again today. Tested technical resistance of 96c. Let's see where it finishes today.

slightly above average volume have gone through the first hour.

Not sure I'd read too much into that. Pretty well all the oilys are strong today on news of the PoO hitting a 15 month high!

http://www.theaustralian.com.au/business/markets/oil-soars-to-15-month-high-above-us81-a-barrel/story-e6frg92f-1225816131750

;)

[tricha]

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 http://www.sharetrader.co.nz/images/buttons/viewpost.gif (http://www.sharetrader.co.nz/showthread.php?p=287836#post287836)
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 (http://www.beachpetroleum.com.au/IRM/Company/ShowPage.aspx?CPID=2081&EID=90630356&PageName=Canadian) energy group backs shale gas foray in Cooper Basin

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

[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 http://www.sharetrader.co.nz/images/buttons/viewpost.gif (http://www.sharetrader.co.nz/showthread.php?p=287836#post287836)
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 (http://www.beachpetroleum.com.au/IRM/Company/ShowPage.aspx?CPID=2081&EID=90630356&PageName=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...

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=BPT

[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) (http://www.hotcopper.com.au/user_profile.asp?uid=151169)

"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 :p just had to top up, sold some at 1.03, my valuation over $2.00. Lifes a Beach :)

SELECT DATE SENThttps://ost.asbbank.co.nz/images/asbsec_arrow_down.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton2','')) BUY/SELLhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton3','')) QUANTITYhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton4','')) STOCKhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton5','')) EXCHANGEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton6','')) PRICEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton7','')) STATUShttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (javascript:__doPostBack('OrderStatusDataGrid$_ctl 1$Linkbutton8','')) 22/01/2010 Buy 20000 BPT ASX $0.885

[shasta]

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

SELECT DATE SENThttps://ost.asbbank.co.nz/images/asbsec_arrow_down.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n2','')) BUY/SELLhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n3','')) QUANTITYhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n4','')) STOCKhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n5','')) EXCHANGEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n6','')) PRICEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n7','')) STATUShttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif (http://javascript<b></b>:__doPostBack('OrderStatusDataGrid$_ctl1$Linkbutto n8','')) 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.

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=BPT&exchange=ASX&period=1Y&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=90&ma2=180&bb=&ind=RSI&ra=2

[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/pdf/31nhvy6f15rq10.pdf

[macduffy]

Here's BPT's own announcement.

http://asx.com.au/asxpdf/20100203/pdf/31nj0lcfpk210l.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 ...

[shasta]

BPT @ 69c OUCH

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=BPT

[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 :eek:

[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/business/opinion/shells-bid-for-arrow-was-always-a-question-of-when-rather-than-if/story-e6frg9if-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/business/opinion/shells-bid-for-arrow-was-always-a-question-of-when-rather-than-if/story-e6frg9if-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-item?S=BPT&E=ASX&N=177165

•2P reserves of 66 MMboe
•Sustainable long-term oil and gas production
•FY 2010 production guidance of 8.0 MMboe
•$118 million cash and zero debt**
4Beach Energy Limited (ASX : BPT) –A compelling value proposition
** as at 31 Dec 2009

•Huge Cooper Basin shale gas resource potential
•High potential East African rift oil exploration acreage
•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.

[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 (javascript:openPopUpFull('http://www.beachpetroleum.com.au/IRM/Company/ShowPage.aspx?CPID=2131&EID=11788256&PageName=Euroz Securities Limited','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/business/mining-energy/some-aussie-firms-position-themselves-as-early-movers-in-shale-gas/story-e6frg9ex-1225840644921

[tricha]

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

http://www.theaustralian.com.au/business/mining-energy/some-aussie-firms-position-themselves-as-early-movers-in-shale-gas/story-e6frg9ex-1225840644921

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


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

[tricha]

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



•Huge resource potential:

–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 (http://www.theaustralian.com.au/)
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/pdf/31pfqc4dfb0wtc.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-item?S=BPT&E=ASX&N=177443