You're so right, shasta.
I suspect that Growler would have to be another Ghawar to move ole Billion Share Beach!
:)
Printable View
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.
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. ;)
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/char.../1y/line/30/0/ Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years
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:
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:
"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:
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!
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?
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)
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".
- 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 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.
Should post your charts in braille Phaedrus - some may then see the obvious
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
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
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
Gosh, 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.
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.
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
BPT - Hits more oil with DLS
http://www.stocknessmonster.com/news...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...E=ASX&N=173799
BPT - Weekly Drilling Update
http://www.stocknessmonster.com/news...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...E=ASX&N=323352
ROC Update - BMG field
http://www.stocknessmonster.com/news...E=ASX&N=563422
All downward at the beach...I'm watching for a break of the trendline!
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.
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.
Why is this stock stuck in the twilight zone going nowhere?
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.
Beach announces a non-binding agreement with a US firm to develop the Cooper Basin unconventional gas resource.
http://news.theage.com.au/breaking-n...1119-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/imag...ound_small.gif 1 1.2%
6:59 pm
Disclosure - Beach is my prefered oil stock.:p
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 :)
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."
[quote=shasta;282596]Tricha
Quote:
Originally Posted by shasta http://www.sharetrader.co.nz/images/...s/viewpost.gif
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.
[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...E=ASX&N=175633
Also some good news out of Egypt
http://www.stocknessmonster.com/news...E=ASX&N=175624
[quote=macduffy;283287]Someone must have kicked the BPT dog along :eek:
Unconventional Gas strategy
http://www.asx.com.au/asxpdf/2009112...mknsqbspbq.pdf
http://hfgapps.hubb.com/asxtools/ima...TIMA2=20&s=BPT
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/char.../1y/line/30/0/
Disclosure 60% cash and Beach is my major holding.
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.
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
Half of Nexus’ reserves now in production with start-up at Longtom
Slide 19
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 !
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.
:)
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
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
Beware of catchy slogans.PHP Code:
Lifes a Beach
: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/char.../1y/line/30/0/
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
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
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.
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 energy group backs shale gas foray in Cooper Basin
The ~179mmbo in unconventional gas equates to around 45PJ from memory.
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/busi...-1225816131750
;)
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/...s/viewpost.gif
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 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/ima...TIMA2=20&s=BPT
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.
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
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)
"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
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 BUY/SELLhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif QUANTITYhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif STOCKhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif EXCHANGEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif PRICEhttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif STATUShttps://ost.asbbank.co.nz/images/asbsec_arrow_up.gif 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-...=&ind=RSI&ra=2
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/pd...vy6f15rq10.pdf
Here's BPT's own announcement.
http://asx.com.au/asxpdf/20100203/pd...0lcfpk210l.pdf
Puts it into context with the downgrade equating to about 2% of BPT's reserve base.
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 ...
BPT @ 69c OUCH
http://hfgapps.hubb.com/asxtools/ima...TIMA2=20&s=BPT
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.
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!
Beach still looks like hard work to me. At least its out of its trading range :eek:
Looks like there will be a small sweetener for BPT if the Shell/PetroChina bid for AOE goes ahead.
http://www.theaustralian.com.au/busi...-1225838410329
Are you still there, tricha?
Oh yeah I'm still here Macduffy and I have been buying more, at these bargin basement prices.
It's another Bow to their string.
Thanks for this article on Arrow,
"One company cheering on the Arrow deal will be Beach Petroleum.
The sale of its Tipton West assets to Arrow last year came with a couple of kickers, including $70 million in extra cash on change of control in Arrow"
The latest presentation and a few reasons why Beach has it all, in front of them.
http://www.stocknessmonster.com/news...E=ASX&N=177165
4Beach Energy Limited (ASX : BPT) –A compelling value proposition
- •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**
** 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
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.
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
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.
Here's someone putting in a plug for BPT and their shale gas prospects.
http://www.theaustralian.com.au/busi...-1225840644921
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
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.
- <LI class="byline first ">Clive Mathieson <LI class="source ">From: The Australian
- March 22,
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.
of
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?
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.......................
BPT have announced a minor downgrade in their expected current year production.
It's in this weekly drilling report.
http://asx.com.au/asxpdf/20100324/pd...qc4dfb0wtc.pdf
U R onto it ELYOB, a game breaker! I still can not figure why someone like Santos has not moved, especially at this silly price.
http://www.stocknessmonster.com/news...E=ASX&N=177443