Fun and games in the gold patch....
http://www.asx.com.au/asx/statistics...idsId=00973207
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Fun and games in the gold patch....
http://www.asx.com.au/asx/statistics...idsId=00973207
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.
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:
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