BP worth a punt?

[Beardy10]

DonkeyApple said:

chrisj_abz said:

Guvna said:

ringram said:

VENICE, La. - A boat captain working to rescue sea turtles in the Gulf of Mexico says he has seen BP ships burning sea turtles and other wildlife alive.

I don't believe that for a second

especially as BP dont have any ships, they will all be third party owned vessels.

I was under the impression that BP ran a particularly large navy and that this was one of the assets being contemplated for sell off and lease back to raise capital.

Not sure about that. I think typically they don't like assets like ships on their balance sheet as it kills RoE....same principal for a lot of companies doing sale and lease back of properties.

[DonkeyApple]

Beardy10 said:

DonkeyApple said:

chrisj_abz said:

Guvna said:

ringram said:

VENICE, La. - A boat captain working to rescue sea turtles in the Gulf of Mexico says he has seen BP ships burning sea turtles and other wildlife alive.

I don't believe that for a second

especially as BP dont have any ships, they will all be third party owned vessels.

I was under the impression that BP ran a particularly large navy and that this was one of the assets being contemplated for sell off and lease back to raise capital.

Not sure about that. I think typically they don't like assets like ships on their balance sheet as it kills RoE....same principal for a lot of companies doing sale and lease back of properties.

RoE on shipping is quite nice

For example one of the ships that they've had to charter is costing $500k/day

[Welshbeef]

Up 45pence since last week (15%) and the Arab Sovrign funds are keen to buy in big as its dirt cheap.

Oil rules the world let the rags have more £

[birdcage]

I didn't quite get in a 3.00 but whoever did is making some dough on these today...

[muckymotor]

I got in at 300.08, more luck than skill.

Still climbing today but there's a long way to go yet.

[Welshbeef]

Solid 21.65% capital gain there.

Are you going to start to crystalise some of the gain now - sure it could go higher but locking in some of the gain say 50% then the other 50% has the opportunity to continue to grow or if it falls it reduces your paper loss.

[birdcage]

Given that they are worth 4.50 with full liability and 5.50 without apparently I am holding on to mine, given anything DRAMATIC which I wouldn't necessarily rule out they shouldn't slip and once it's actually confimed they have blocked leak I think 4.00 is easily achievable...

Then again what do I know, I was nervous a few days ago holding 7,000 of the suckers!

Edited by birdcage on Thursday 8th July 12:23

[muckymotor]

I would normally take some of the profit but I'm going to keep these for the long term. I've set up a stop loss though should something dramatic happen.

[Welshbeef]

Would you say its worth a punt with £10k or is that too much.

Noted you have 7000 shares but for others what do you thik the exposure should be - out of a total investment pot in shares of c£80

[birdcage]

Welshbeef said:

Would you say its worth a punt with £10k or is that too much.

Noted you have 7000 shares but for others what do you thik the exposure should be - out of a total investment pot in shares of c£80

To my mind they will be 'rescued' by soveriegn wealth or failing that sell their own shares, the leak is a major bummer but from an investment point of view day traders are making a killing, where else do you see a 25% day gain on a ftse 100, apart from banking shares and they have got mountains to climb some of them and a low base.

We need oil, they sell oil and once Obama leaves them alone they can get back to the business of making serious dough, an then there is the dividend for next year hopefully.

The directors are buying too I think..

Most of my other investments are relatively blue chip so BP is one that makes life a bit more exciting...

[Timmy35]

muckymotor said:

I would normally take some of the profit but I'm going to keep these for the long term. I've set up a stop loss though should something dramatic happen.

I got in for the dividend, when it resumes it'll be yielding 10-11% with a progressive dividned policy. Personally I'm a bit fedup with the sharpness of the rally I wanted to carry on averaging in as it rose gently.

[birdcage]

Bottled and sold!

[Welshbeef]

Still a chance to get back in the game if this second cap + other bits totally seal it until the beginning of aug when the two drill holes are complete then share price could go up quite a bit.

[Lefty 200 Drams]

I bought at 381, 352 and 330, about £5k in total.

[Marf]

Just bought 235@416.8

My first share trade. Now to avoid watching the price all day!

[RichyBoy]

Marf said:

Just bought 235@416.8

My first share trade. Now to avoid watching the price all day!

Done the same thing.

[Welshbeef]

RichyBoy said:

Marf said:

Just bought 235@416.8

My first share trade. Now to avoid watching the price all day!

Done the same thing.

£3 or even £3.50 was the time to buy. option missed.

[Marf]

Yep starting to think I've missed the boat and they wont go much past the 412-416 area in the coming days.

[Timmy35]

Marf said:

Yep starting to think I've missed the boat and they wont go much past the 412-416 area in the coming days.

They probably will grind upwards from here, but as others have said it's much harder to accept buying in now with the risk of a pull back, that it woud have been at 350p.

Reminds me of Barclays long steady rally from 50p to 250p...every day I intended to buy on a significant pull back.....problem is, one never came!

[RichyBoy]

Damn it, I was hoping a nice steady rise to 450p. They have the cap on, now just sort out the relief wells and everythings cool right?