# BPT - Beach Energy



## Bonk (18 June 2004)

Euroz Research states today , Myponga-1 success will add 15c to their current valuation of 39c . BPT is currently 28.5c in this depressed market. Myponga-1 is tipped to hold 10mmbbloe.
Also, BPT has currently 37m dollars cash ...for acquisitions?


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## Aceyducey (17 July 2004)

*Re: Beach Petroleum   [ BPT ]*

Beach is undervalued, just, as is STU, GOG and other junior oilers 

They have been sitting on the cash for awhile....it's still unclear what they will do with it.

Cheers,

Aceyducey


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## GreatPig (18 July 2004)

*Re: Beach Petroleum &nbsp;[ BPT ]*

I added Orchard Petroleum (OPL) to my paper portfolio last Friday and it's my star performer so far 

GP


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## Aceyducey (18 July 2004)

*Re: Beach Petroleum   [ BPT ]*

Keep an eye out for the Merlin Petroleum listing. Prospectus will be out next week.

CAVEAT: Note that I am a seed investor in Merlin &amp; have consulted to the company.

However I'd seriously like to know what people think about it.

Cheers,

Aceyducey


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## stefan (20 July 2004)

*Re: Beach Petroleum &nbsp;[ BPT ]*

Very interesting stock. I might just buy a few to hold for the next few months.

Thanks for the tip...


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## Bonk (24 August 2004)

*Bonk wisdom*

BPT will now improve as the stock gets back to doing some wells , where people will see by xmaz what its game plan is . Expect a decent dividend out of the blue ........maybe 1.5c


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## tech/a (21 February 2005)

Nice Breakout this morning


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## mime (18 May 2005)

*BEACH PETROLEUM (BPT)*

Does anyone know why the stock is on a major downward trend?


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## mime (19 May 2005)

*Re: BPT*

ok

So why is it on a downward trend?


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## Mofra (22 May 2005)

*Re: BPT*

As complete guesses

a.   Oil is down off its 12 month highs, and the stock is being rated by the market as a producr more than an explorer.
b.   In sympathy with the rest of the market pulling back - smaller caps are being hit hardest as investors flock to more defensive stocks
c.   Some profit taking may have started it
d.   T/As would be holding off buying waiting for more definite signs of reversal


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## GreatPig (27 July 2005)

*Re: BPT*

Sold out of this on 21st July for 73.5 cents. Shortly afterwards it went into trading halt and is now suspended.

Is it in receivership?

Cheers,
GP


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## GreatPig (28 July 2005)

*Re: BPT*

Trading again this afternoon and dropped from 73.5 cents to 68 cents.

The announcements were about taking an extra stake in some gas fields and a $76.8m capital raising, by way of a placement to institutional and "sophisticated" clients at 64 cents a share.

After announcing a placement at 64 cents, perhaps the market considered 73.5 cents somewhat overpriced 

Cheers,
GP


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## Kauri (9 November 2005)

*Re: BPT*

Considered shorts but not enough breakdown volume... maybe tomorrow.


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## Kauri (11 November 2005)

*Re: BPT*



			
				Kauri said:
			
		

> Considered shorts but not enough breakdown volume... maybe tomorrow.




   On its way now


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## Fab (22 April 2006)

Hi,

I hold BPT and recently got credited to my account 1000 BPTOB (Options). Good surprise  nevertheless I am not familiar with how to trade them and when I try to view it on my Commsec account BPTOB code is said to be invalid.
Can anyone help me on this ?

Cheers


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## Fab (24 April 2006)

I actually got the answer from Commsec. BTOP option will start trading on the 01/05. By the way this is a great stock


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## mime (24 April 2006)

Fab said:
			
		

> I actually got the answer from Commsec. BTOP option will start trading on the 01/05. By the way this is a great stock




Really? How much are they?


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## Fab (24 April 2006)

BPT closed today at 1.47 up 3.52%


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## mime (25 April 2006)

So how much are the options?


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## michael_selway (30 May 2006)

Fab said:
			
		

> BPT closed today at 1.47 up 3.52%




Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 5.8 10.2 24.6 21.4 
DPS 1.5 1.5 1.5 1.5 

BMG asset appear to be doing it for them also like AZA

thx

MS


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## Fab (5 June 2006)

BPT in trading halt today Watch out what will happen next ???


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## jollyfrog (5 June 2006)

They have Invested in GOG! 19.9 o/o of the company to be precise I guess Beach can see the potential!


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## Fab (5 June 2006)

What is GOG ?


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## Victor H (5 June 2006)

GREAT ARTESIAN OIL & GAS LIMITED (GOG)

http://www.asx.com.au/asx/research/...chBy=asxCode&allinfo=on&asxCode=BPT#headlines


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## Fab (13 July 2006)

I can not see this stock going back to the $1 mark anymore that is the price I paid 1 year ago. I am planning to buy more very soon but probably more around the 1.30 if it gets there. Price of petrol and possible takeover target make me very very interested in this little gem


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## michael_selway (13 July 2006)

Fab said:
			
		

> I can not see this stock going back to the $1 mark anymore that is the price I paid 1 year ago. I am planning to buy more very soon but probably more around the 1.30 if it gets there. Price of petrol and possible takeover target make me very very interested in this little gem




is BPT better or AZA u think

AZA - Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS -5.2 23.7 29.8 22.7 
DPS -- 0.0 0.0 0.0 

BPT - Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 5.8 10.6 33.9 24.5 
DPS 1.5 1.5 1.5 1.5 

thx

MS


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## Sean K (14 July 2006)

BPTs price has appreciated more in the past year, plus they have a better name. 

 :bowser:


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## Fab (29 July 2006)

Another question about BPT . How come BOT is worth $1.75 where what I consider similar type of oil company such as ROC oil or TAP are worth up to $4. Does that mean BPT might follow the same trend in the future or are there any reason to explain this share price difference ?


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## Sean K (7 August 2006)

Beach coming off highs atm and approaching support level at about $1.60. Currently $1.64. Should see a bounce off this, pending Mid East etc and POI.


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## Ko Ko (9 August 2006)

Just read an article in the fin review today regarding this stock. I am confused as to why this stock is only around 1.60 when ROC and TAP oil are around 4 dollars with roughly around 900 million in market capatilisation.


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## Sean K (9 August 2006)

Must be shares on issue ko ko. Don't have the numbers but that's my suspiscion.


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## Ko Ko (9 August 2006)

Thanks for the reply Kennas.
Do you think ROC and TAP oil have issued much less shares than Beach?
Ill try ad have a look and compare the general purpose financial statements of both and have an answer


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## Sean K (17 August 2006)

BPT hitting support at $1.60 as expected. Should find suport here to continue it's next up leg. Or, is looking at $1.45.....

Long term steady rising oil and gas player, who is probably more a predator atm than prey for consolidation in the sector. 

(Long term holder)


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## Sean K (17 August 2006)

Well, wasn't at $1.60 for long after another great ann on their Basker Manta JV with Anzon. Another 33% increase in the reserves. They've got so many JVs and partnerships going they seem to come out with more good news every week.


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## CanOz (17 August 2006)

Good to see them coming off support, now if only TAP would reverse.


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## Fab (31 August 2006)

Trading halt today. Hopefully this will take them to new high


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## Sean K (31 August 2006)

Interesting. But they've come off the past week or so. No one else went in halt with them. Capital raising?


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## dubiousinfo (31 August 2006)

> Beach in line to bid for Delhi
> Nigel Wilson, Energy writer
> August 31, 2006
> THERE is mounting speculation Beach Petroleum will emerge as a counter-bidder for Delhi Petroleum once an independent analyst's report being prepared by KMPG is released publicly.
> ...





Maybe something to do with this rumour


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## Sean K (31 August 2006)

dubiousinfo said:
			
		

> Maybe something to do with this rumour




I actually hope not. The market didn't like it last time, it's not going to like it now.


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## Fab (31 August 2006)

Thanks for the update anyway. Time will tell if BPT will shoot up


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## Sean K (31 August 2006)

Seen two more reports its the Delhi Petroleum thing. I'm not over it enough to know if it's good or bad?

1137  [Dow Jones] Beach Petroleum (BPT.AU) is on a trading halt with analysts tipping the announcement of a counter bid for Delhi Petroleum. Beach has run the ruler over Delhi and its 21% stake in the Cooper Basin oil and gas fields but says it has yet to make an offer. Analysts say the market is anticipating a Delhi bid. "The market has been expecting something like this for a while," says one analyst. "It wouldn't surprise, put it that way, and it would make a lot of sense." Beach mum ahead of announcement. (APW)


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## CanOz (31 August 2006)

The match price for BPT is 1.61. It has continually increased over the day. Can anyone explain this to me? Is this just buy orders coming in on speculation about the pending announcement and the resumption of trading?


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## Fab (1 September 2006)

Maybe this is the reason for the trading halt.

Oil finds boost state investment
September 01, 2006
RECENT oil discoveries in South Australia's Cooper Basin are adding excitement to the state's emerging mining boom, Mineral Resources Minister Paul Holloway has said.

Mr Holloway said the discoveries reported by Stuart Petroleum and Beach Petroleum were among eight new oilfields and four new gasfields discovered in the area so far this year.

"South Australia continues to attract high levels of national and international petroleum industry interest with tenements now covering almost the entire Cooper Basin," the minister said.

"Drilling activity in the basin is at record levels, which is leading to new field discoveries for explorers and increased royalties for the South Australian economy."

In July, Stuart Petroleum discovered an oilfield in an area of the Cooper Basin which flowed 1100 barrels a day. Production was now expected to start in September.

Beach Petroleum's Callawonga One well, also drilled in July, flowed oil at a rate of 2,400 barrels a day.

It was also expected to go into production later this year.

Mr Holloway said South Australia's petroleum industry continued to grow in strength and the latest discoveries were an important step forward. 



It can only help the SPP


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## Fab (1 September 2006)

Are they still in Trading Halt ?


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## Sean K (1 September 2006)

Fab said:
			
		

> Are they still in Trading Halt ?




Yep.

If you can't get this info off your brokers web site, go to the ASX site and go to anns and check BPT. Cheers.

http://www.asx.com.au/asx/statistics/announcementSearch.do


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## Fab (1 September 2006)

I can see a couple of announcement related to BPT but 0 in the trading volume. I assume this obviously means they are still in trading halt.


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## GreatPig (1 September 2006)

If you have access to a market depth screen, that will tell you straight away that the stock is in pre-open.

Cheers,
GP


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## Fab (1 September 2006)

Sorry of my ignorance but what does pre - open means ? 
I can understand trading halt but pre-open looks very much the same to me as no trading is happening


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## Fab (4 September 2006)

Suspension from official quotation now . What is the difference between Suspension from official quotation and Trading Halt ??


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## nioka (4 September 2006)

Fab said:
			
		

> Suspension from official quotation now . What is the difference between Suspension from official quotation and Trading Halt ??




Suspension is at the request of the company in this case. It is pending an announcement and I would expect a good one, BPT was added to the ASX200 last week. BPT is in partnership with other oilers in most of it's wells so one of them will probably be the one to look at for a good deal.


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## CanOz (4 September 2006)

Once it is included in the ASX indice, the institutional investors must weight thier portfolios accordingly with BPT stock, correct?


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## nioka (4 September 2006)

CanOz said:
			
		

> Once it is included in the ASX indice, the institutional investors must weight thier portfolios accordingly with BPT stock, correct?




MUST might not be right. There are funds that can't invest unless they are in that league so it does have a lot of influence but that alone would not have caused a trading halt.


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## CanOz (4 September 2006)

nioka said:
			
		

> but that alone would not have caused a trading halt.




No, I wasn't inferring that..just looking for clarification. I think the trading halt/suspension and the timing of the indice incluesion are coincidental.


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## nioka (4 September 2006)

CanOz said:
			
		

> No, I wasn't inferring that..just looking for clarification. I think the trading halt/suspension and the timing of the indice incluesion are coincidental.




Agree


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## Fab (5 September 2006)

How long does a suspension of trading normally goes for ?


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## michael_selway (5 September 2006)

Fab said:
			
		

> How long does a suspension of trading normally goes for ?




is it for soemthing good/bad/neither?

thx

MS

Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS 5.8 10.3 30.6 25.5 
DPS 1.5 1.5 1.5 1.5


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## rederob (5 September 2006)

> Trading halts for Beach, Delhi investor
> Nigel Wilson
> September 01, 2006
> SHARES in Beach Petroleum and Australian Onshore Energy Fund, an investor in Delhi Petroleum, were put in a trading halt yesterday.
> ...



Looks like good news is possible, otherwise business as usual.


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## Fab (6 September 2006)

How come it has not restart trading ?


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## oshcomau (6 September 2006)

Fab said:
			
		

> How come it has not restart trading ?




It was in adjust and then Pre-Open status.... it is now in normal status. Happy buying!


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## Fab (6 September 2006)

It should go up


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## oshcomau (6 September 2006)

Fab said:
			
		

> It should go up




It already has… unfortunately the day I planned on purchasing my first lot was the day BPT requested a HALT…. I did however purchase some this morning although at 1.63… whilst they are at 1.62 now.


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## Fab (6 September 2006)

They need to stay above 1.60


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## oshcomau (6 September 2006)

Fab said:
			
		

> They need to stay above 1.60




Too Late....


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## michael_selway (6 September 2006)

oshcomau said:
			
		

> It already has… unfortunately the day I planned on purchasing my first lot was the day BPT requested a HALT…. I did however purchase some this morning although at 1.63… whilst they are at 1.62 now.




Hm they are 1.54 now?

thx

MS


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## oshcomau (6 September 2006)

No kidding... I was one of the first to get in.... obviously that wasn't a good thing. They did hit 1.67 however not for long.


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## Fab (7 September 2006)

Let the market digest the new. This is still a master stroke from a miner oil company to get this deal competing against company such as Santos . I believe this stock will follow the like of TAP oil and other small oil players


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## Freeballinginawetsuit (7 September 2006)

oshcomau said:
			
		

> No kidding... I was one of the first to get in.... obviously that wasn't a good thing. They did hit 1.67 however not for long.
> 
> I wouldn't stress mate. Ive got them to take a turn today or the next for a run.


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## oshcomau (7 September 2006)

Thanks, I am not stressed… I thought (and still do) believe they are undervalued… that’s why I was willing to pay what I payed. Unfortunately they didn’t gain too much today (still better then most of my stocks today) and heck they could lose a whole heap tomorrow however I hope in the long run my calculations are correct.


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## mime (7 September 2006)

Follow TAP?? I hope not. It's been moving south for a while now. I read the news in the paper today about BPT and the prospects with them gaining such a  large asset looks good. Fingers crossed.


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## CanOz (7 September 2006)

TAP is a great buy at the moment as is BPT. With oil predicted to bounce off $60 USD/B, and the winter heating oil season upon us soon these stocks and other oilers may see some healthy growth over the coming months.

Still though there some support levels that must remain intact to remain confident.

Good luck and go BPT!


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## Sean K (18 September 2006)

Beach hitting support level and 200d MA, which should see it rise. 

Long term the Delhi deal should estab Beach as one of the top oilers in the country and put it in the scope of the major players, if not already. 

1 and 2 year chart still looking good even after the wild ride of the past 4 months.  

I'm topping up at these levels. 

Been holding this long term.


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## CanOz (18 September 2006)

Kennas, what do you see as the upside potential for BPT?


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## Sean K (18 September 2006)

CanOz said:
			
		

> Kennas, what do you see as the upside potential for BPT?




They have numerous exploration projects and good junior JV partners producing good results by the week. I think price of oil is going to remain high due to the lack of new significant finds and the Middle East/Venezuala issues. I think Iran is going to be a real stumbling block for the international community and they will play the oil card to gain leverage in their nuclear pursuit, at least keeping prices high, if not back to all time highs. Plus, as a rising mid tier producer, will be on the scope of the majors as a takeover potential. Maybe even another mid tier tie up, like OSH, to create quite a large entity. Will also be pushed into one of the ASXs top companies putting it on the radar of index managers.


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## CanOz (25 September 2006)

BPT seems to be finding support and bounced off 1.28. Does anyone think this is just the dead cat bounce? Or does it look like its found a solid base? How much lower could this go given that oil prices could fall further in the short term? 
I'm am holding but nervously, anyone offer some advice? Kennas? I think i'll put a stop in just under 1.28.


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## Sean K (25 September 2006)

Depends on POI and gas I think. 

Found some support atm, but maybe it's related to the HDR takeover.

Major support around $1.20 so getting out now might be a little presumtious imo. Still, required POI/Gas to stabilise. I'll buy more if it drops to $1.20. 

I've been surprised by the % drop in prices. Was expecting geopolitics and weather to hold the price up much more. Still, these factors are still there and could spike the prices back up again quickly. I don't think the Delhi deal was a short term positive either, although if they get it right, it will be a medium/long term positive.


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## Halba (25 September 2006)

if not foreign company will  buy it out, as it has 50% of an attractive project (BMG)


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## Sean K (25 September 2006)

CanOz said:
			
		

> BPT seems to be finding support and bounced off 1.28. Does anyone think this is just the dead cat bounce? Or does it look like its found a solid base? How much lower could this go given that oil prices could fall further in the short term?
> I'm am holding but nervously, anyone offer some advice? Kennas? I think i'll put a stop in just under 1.28.




I've seen further short term bearish reports on POI today, makes me nervous.

I've got a big risk tolerance and have equity spread over quite a few classes, so can take some pain in one area in the short term, for what I think are long term prospects. This is in my 'investment' portfolio, and I still see it as a good long term investment. I can't pick the turn in POI, it's just going to take one bomb, one hurricane, one Iran loose call again about destroying Israel, or one refnery fire.....

If I only had a few bucks to invest I doubt I'd have it all in oil at the moment...Probably in cash! 

Must make your own mind up of course with all the information you can find......


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## CanOz (25 September 2006)

I feel the same, nervous but reluctant to pull the pin on BPT. I think i'll just keep a close eye on it for now. I would like to have guts to hold it long term, like over a year, but i've heard some reports on the future of the oil price that make me think twice. 

Sometime i think oil bulls are just trying to slow down the alternative fuel bulls by seeming to be disbelievers on peak oil. 

Cheers,


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## MalteseBull (28 September 2006)

wow..just...wow


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## pistol72 (28 September 2006)

bpt.took a position today @1.40
short term target 1.55 old support ,future resistance,short term trendline
posible head and shoulders pattern forming
rsi turning positive with divergance
sto also turning up with crossover as with macd
for me she looks pretty positive in the short term,with the price of oil looking to have a bit of a run in the next week or so and a good prospect bieng drilled atm may see a new all time high bieng made,time will tell

cheers pete


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## MalteseBull (29 September 2006)

i got more today at 1.415..
i am in it short term up till ex div date


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## Sean K (29 September 2006)

As expected found very good support at $1.30ish. Back through 200d ma. All good for long term Beach punters.


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## MalteseBull (2 October 2006)

still a continual influx of buying into the beach


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## jroesten (3 October 2006)

Hi guys

Ive had this stock for around 5 years now and it has been a great investment...but now I have a burning question   

With the share price hovering below 1.39 how will this new share issue work? I know its underwritten but there wont be any incentive to purchase if the prices remains here, or below so does it require a reviewed price offering or am I missing something?

Many thx.

JR


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## champ2003 (3 October 2006)

Most likely the price will rise above the SPPlan price as it gets closer to Basker Manta project coning online in the next month.


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## Sean K (5 October 2006)

Unusual volume early on BPT today. Can't be the slight oil recovery. Interesting.


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## pistol72 (5 October 2006)

kennas.maybe options bieng converted


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## jroesten (12 October 2006)

Hi All

Im still unsure as to validity of this recent option issue, the shares are around 1.38 today and the deadline for purchase at $1.39 is only a couples of weeks away.

Doesnt this put the offer at risk as investors wont be incentivised to purchase.

Id like to support the company and have a reasonable amount tied up in it buying these doesnt add up.

Any comments pls.

JR


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## Fab (12 October 2006)

I am the same. I understand some documentation will be sent on the 17/10 to shareholders


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## jroesten (12 October 2006)

Do you think this will address the price imbalance or provide more info on the issue??

Cheers

JR


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## champ2003 (12 October 2006)

Its fully underwritten guys. Stop panicking.


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## MalteseBull (13 October 2006)

positive announcment released


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## jroesten (14 October 2006)

Its not panic, but there will be a price for underwritting and the share issue doesnt add up when the issue price doesnt provide a discount to share price.  An investor may as well buy at market below the issue price ($1.39) than participate in the share float..so they wont do either.  If the share price goes up in the next week the picture changes, but you would have to say the shareholder perception of the deal is poor as the share price has dropped since the annoucement, so the likelyhood of that is low unless the directors get all their mates to prop the market up (just joking).

Im confident that they have made judgment that the Cooper fields from Delhi will pay dividends but this deal has had changed the company from being extremely cash strong to getting into debt and this is an important aspect in repayment.

Comments/info anyone?


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## champ2003 (14 October 2006)

A few things to consider. The share price looks like its on the way up to $1.50 in the next 2 weeks. Basker Manta starting production in the next month adding over 200 million in revenue per year to BPT. This puts BPT in a very strong financial position. The oil price is rising over the short term. Oversees stock markets hitting record highs. BPT's share price is at $1.40 now with upward momentum. Major NZ driling has begun. BPT is now in top 200 ASX listing which will help with the upward momentum. BPT is a much larger compnay than AWE & ROC which have much higher share prices. In all likelyhood BPT's share price will double over the next year. Do i need to say any more?


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## champ2003 (14 October 2006)

Oh and on top of all of that BPT plans on trebling their production not including thier Dheli assets over the next 3 years. What does all of these facts mean? It means that the risk factor for this company is reduced substantially and that the currect share price has a very strong floor in place for a strong upward trend. 

Good luck to all that have these shares.


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## jroesten (31 October 2006)

After holding for 5 years I sold out of all my shares in Beach last week.  The market hasnt taken to this new deal,  and although underwritten raising funds @1.39 is prone to undersubscription.  Also the 7 for 2 just splits the same pie into more bits so devalues your interest.  An increase of exec remuneration of 500% with profit increase only 100% also wasnt a good look and tech analysis is risky short term.

May rebuy when things settle down, but for now Im out.


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## CanOz (31 October 2006)

I'm still in but watching it very close. I really can't make a decision on this....the chart says 'breakdown ahead', but the future fundy stuff says HOLD ME.

Like to hear some more on this from anyone.


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## champ2003 (31 October 2006)

Good on you i say as you have made alot of money out of it already. I don't think that it's a case that the market hasn't taken to BPT of late. I think it's much more the case that the deal isn't totally complete as yet so it's more of a wait and see approach at the moment. I think that the end result will be very much worth the wait.


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## jroesten (31 October 2006)

Hi Crazy...Its quite hard to get good unbiased info, and forums like this are also prone to personal motivations and limited by poster knowledge.  

The only real way is the long task of reading all the docs and making an independent decision based on your own risk tolerance and experiences...or you could pay someone else who isnt risking their own money .

Good luck with your investments and decision..its actually quite alot of fun as well as being a headache!


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## champ2003 (31 October 2006)

http://www.beachpetroleum.com.au/files/reports/BPTrq_oct06.pdf


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## Caliente (31 October 2006)

Hi, my report from Merrill Lynch rates this stock as a buy with a 12 month objective of $2.00 on the back of the Delhi acquisition.

Looks like this may be worth a spot on the portfolio, as a medium term play.

As always, DYOR.


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## mas888moe (6 November 2006)

Hi everyone,

Did you read the announcement about the shortfall of renounceable rights posted today? Do they mean that 72% of options were executed or was it only 28%? It was not clear.

Euroz valuation of Beach shares is currently $1.89! Do you think the share price will reach this by the end of 2006?


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## Sean K (6 November 2006)

mas888moe said:
			
		

> Hi everyone,
> 
> Did you read the announcement about the shortfall of renounceable rights posted today? Do they mean that 72% of options were executed or was it only 28%? It was not clear.
> 
> Euroz valuation of Beach shares is currently $1.89! Do you think the share price will reach this by the end of 2006?




If the H&S pattern breaks down, then $1.60 is possible, but there's a lot of resistance around those levels. Would need POI to go through $65 for this to finish the year well.


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## champ2003 (6 November 2006)

The shortfall with the R Rights Issue was approx 50 mill shares and the uptake was approx 72% which is still a decent result IMO. 

BPT will come into another 240 mill per year starting within the next month and i think the market will start to re rerate this company in the coming months.


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## Sean K (7 November 2006)

champ2003 said:
			
		

> BPT will come into another 240 mill per year starting within the next month and i think the market will start to re rerate this company in the coming months.



Champ, is the 240 m the Delhi acquisition?


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## champ2003 (7 November 2006)

kennas said:
			
		

> Champ, is the 240 m the Delhi acquisition?




Hi Kennas,

No the 240 Mill that i'm talking about is revenue on top of that and its starting now with the Basker Manta oil field coming online with full ramp up completion in early December.

Cheers

Champ2003


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## Sean K (7 November 2006)

Beach seems to have broken the potential to form a H&S and has headed north, with no ann   Very unusual for BPT to go up 7% in one day. 

On the way up again?

Next stop $1.60 ish?


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## champ2003 (7 November 2006)

I recon that the fundamentals are now catching up which is driving the share price. Keep in mind that it is soon to be the 3rd largest pure asx listed oil&gas company. Reserves are something like 3 or more times that of AWE and ROC.  Its about time the price shot up i say


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## Sean K (29 November 2006)

Beachy is starting to worry me. Looks to be rolling over a hill with the H&S still a possibility. Really had the breaks on for months.   I suppose POI is holding it up, and we need to hear how the Delhi deal has gone and the bedding down process....Maybe for the bottom draw. Or, maybe cash in, a take the money to Crown.....


----------



## traderandy (29 November 2006)

Very true, starting to worry me too...

When they announced last week at their AGM that they had "joined the big league of Australian oil and gas producers" I was keeping a very close eye on the chart - the SP had just bounced off the 50MA for the second time and was right at the downward sloping resistance line.

Couldnt break through so we'll just have to wait and see what happens


----------



## Sean K (29 November 2006)

traderandy said:
			
		

> Very true, starting to worry me too...
> 
> When they announced last week at their AGM that they had "joined the big league of Australian oil and gas producers" I was keeping a very close eye on the chart - the SP had just bounced off the 50MA for the second time and was right at the downward sloping resistance line.
> 
> Couldnt break through so we'll just have to wait and see what happens




Under $1.30 and I'm out I think. Looks to be critical support.


----------



## Ken (29 November 2006)

whats going on with BPT?

and COE  they are both stinking it up!


COE should be way higher than it is...


----------



## traderandy (30 November 2006)

The price was starting to rise over the last few days but they've just announced that the Talia-1 well (joint with GOG) is going to be plugged and abandoned...

trading halt atm


----------



## champ2003 (4 December 2006)

Looks like BPT's about to hit blue sky's.


----------



## CanOz (4 December 2006)

champ2003 said:
			
		

> Looks like BPT's about to hit blue sky's.




Blue sky? Are you implying that the share price is close to all time highs??????????  

I could have sworn it was still stuck in a range....has it broken out? 

Bugger, must have traded really well after the close today...serves me right for logging out early.

Cheers,


----------



## champ2003 (4 December 2006)

Nope but i'm implying that it could welll be in the near future and with the amount of buyers built up underneath now it looks like a rocket is about to take off.


----------



## CanOz (4 December 2006)

champ2003 said:
			
		

> Nope but i'm implying that it could welll be in the near future and with the amount of buyers built up underneath now it looks like a rocket is about to take off.




Depth means very little as it only represents the buyers and sellers on the screen. There's allot of resistance left to get through yet. The oil price needs to rally, and that hasn't been confirmed yet. There will still be time to get into oil stocks when things do turn around. I'm sure there are others here that would be waiting with thier fingers on the trigger to get back into oil.

It does look like a triangle though. Can't see it being a really explosive breakout when it happens but you never know.


 

Cheers,


----------



## champ2003 (4 December 2006)

CanOz said:
			
		

> Depth means very little as it only represents the buyers and sellers on the screen. There's allot of resistance left to get through yet. The oil price needs to rally, and that hasn't been confirmed yet. There will still be time to get into oil stocks when things do turn around. I'm sure there are others here that would be waiting with thier fingers on the trigger to get back into oil.
> 
> It does look like a triangle though. Can't see it being a really explosive breakout when it happens but you never know.
> 
> ...




Hey Canaussie,

I see what you mean with your chart however there is so much more to it than that. IMO its really important to read all of the announcments to know where a company is at. No offence but if you were really up to speed with this company you would know about whats about to happen. The fundamentals will change the pattern on your chart quick smart. IMO December will be a pretty decent month for BPT.


----------



## Sean K (4 December 2006)

CanOz said:
			
		

> Blue sky? Are you implying that the share price is close to all time highs??????????
> 
> I could have sworn it was still stuck in a range....has it broken out?
> 
> ...



LOL.   

And I am sure you know nothing of this company CC. Stick to analysing beavers and salmon buddy. he he. Cheers, kennas.


----------



## CanOz (4 December 2006)

champ2003 said:
			
		

> Hey Canaussie,
> 
> I see what you mean with your chart however there is so much more to it than that. IMO its really important to read all of the announcments to know where a company is at. No offence but if you were really up to speed with this company you would know about whats about to happen. The fundamentals will change the pattern on your chart quick smart. IMO December will be a pretty decent month for BPT.




Ok ok, whats about to happen? I've held BPT several times and its bitten me every time. I realise they're the next big player in the oil game and all that, but other than that, i'm not too fussed about the fundementals. To me the price action says it all. I just don't think its going to move quickly, thats all. 

Kennas....Beavers and Salmon???? Whats that all about?

My point in being so sarcastic in my first reply was just to make a point at what was a groundless comment on the stock. I really think BPT is probably a quality company, but if you're going to claim something, then give us something, especially those like myself who don't research Fundy stuff at all.



Cheers,


----------



## Sean K (4 December 2006)

CanOz said:
			
		

> Ok ok, whats about to happen? I've held BPT several times and its bitten me ever time. I realise they're the next big player in the oil game and all that, but other than that, i'm not too fussed about the fundementals, to me the price action says it all. I just don't think its going to move quickly, thats all.
> 
> Kennas....Beavers and Salmon???? Whats that all about?
> 
> ...




CC, sorry I thought the sarcasm was palpable. Beavers? Aren't you half canuck? Salmon? Aren't you half canuck. Maybe I should have added potato and Lobster to the list. Although, that would only make sence if you were from PEI. 

I was actually inferring that Champ needs to consider that you may actually know a thing or two about BPT and the market and when you make broad general illinformed statements like 'you know nothing of this company' then you open yourself up to a return salvo. I thought I did that in the most nuanced way possible. 

Cheers.


----------



## champ2003 (4 December 2006)

CanOz said:
			
		

> Ok ok, whats about to happen? I've held BPT several times and its bitten me every time. I realise they're the next big player in the oil game and all that, but other than that, i'm not too fussed about the fundementals. To me the price action says it all. I just don't think its going to move quickly, thats all.
> 
> Kennas....Beavers and Salmon???? Whats that all about?
> 
> ...





Cani you'll have to do your own research on this one however IMO this stock is great for the short/medium and long term. 

All the best.

Cheers!


----------



## CanOz (4 December 2006)

kennas said:
			
		

> CC, sorry I thought the sarcasm was palpable. Beavers? Aren't you half canuck? Salmon? Aren't you half canuck. Maybe I should have added potato and Lobster to the list. Although, that would only make sence if you were from PEI.
> 
> I was actually inferring that Champ needs to consider that you may actually know a thing or two about BPT and the market and when you make broad general illinformed statements like 'you know nothing of this company' then you open yourself up to a return salvo. I thought I did that in the most nuanced way possible.
> 
> Cheers.




How do you know about PEI? You been there?

Ok so no, i don't know much at all about the fundementals of BPT, but from a technical point of view, its not looking great until it makes a move. Would you agree Kennas that this needs to see the POO move too, and confirm its overall direction? 

(I guess i should learn how to interpret sarcasm before i try to dish it out  )

Typical Canuck.  

Cheers,


----------



## Sean K (4 December 2006)

CanOz said:
			
		

> How do you know about PEI? You been there?
> 
> Ok so no, i don't know much at all about the fundementals of BPT, but from a technical point of view, its not looking great until it makes a move. Would you agree Kennas that this needs to see the POO move too, and confirm its overall direction?
> 
> ...



My little bro lived on PEI for a year as an exchange student and I visited the families he stayed with. Great place. Too many potatoes though. And how bloody cold is it in winter!!!!?? I think it was minus 40. 

I have held Beach for a couple of years, so I know a little bit about it. Chart wise, it's looking vulnerable as I have posted. Fundamental wise, this will one of the top 5 oils in the country shortly, if not now, and will be ripe for a takeover, if they can bed down Delhi quickly. I only have two oil stocks now (not counting BHP) in BPT and OSH. Both of which I expect to be taken over by a major, or grow themselves to be significant producers. I said I would sell this under $1.30 I think, but I'm long term oil and gold bull, so I might hold for long term value. I'll be posting with any additional thoughts when the sp gets out of this $1.40 ish ranging.....if it ever does....


----------



## CanOz (4 December 2006)

kennas said:
			
		

> My little bro lived on PEI for a year as an exchange student and I visited the families he stayed with. Great place. Too many potatoes though. And how bloody cold is it in winter!!!!?? I think it was minus 40.
> 
> I have held Beach for a couple of years, so I know a little bit about it. Chart wise, it's looking vulnerable as I have posted. Fundamental wise, this will one of the top 5 oils in the country shortly, if not now, and will be ripe for a takeover, if they can bed down Delhi quickly. I only have two oil stocks now (not counting BHP) in BPT and OSH. Both of which I expect to be taken over by a major, or grow themselves to be significant producers. I said I would sell this under $1.30 I think, but I'm long term oil and gold bull, so I might hold for long term value. I'll be posting with any additional thoughts when the sp gets out of this $1.40 ish ranging.....if it ever does....




I worked on the island before i moved to Australia, 12 years ago. I worked in the large new factory just as you got off the ferry...now theres a bridge there and the island is not so isolated! I got stuck on the ice one day on the ferry, that was fun, on an icebreaker smashing thru that thick ice. I'm from N.B. and its close by, now more than ever. Its colder here in Harbin than PEI!

I wanted to continue to hold BPT, but there were too many opportunities elsewhere. Thats where i think that sometimes its better to put your money elsewhere until the trend reverses or resumes, whatever the case. I think they're a great investment and i watch them everyday, in case they start to move. 

TAP is another one i got burnt on. I would appraciate and oil breakout alert when it happens, although i think "The Chartist" will let me know about that one!

Cheers and good luck to those that hold!


----------



## Sean K (4 December 2006)

CanOz said:
			
		

> I wanted to continue to hold BPT, but there were too many opportunities elsewhere. Thats where i think that sometimes its better to put your money elsewhere until the trend reverses or resumes, whatever the case. I think they're a great investment and i watch them everyday, in case they start to move.



I have an an 'investment' fraction of my portfolio that I would rarely consider trading and this is in it. Fortunately, I have quite a line of equity/credit that I can use to invest. Using the banks money to invest is the bees knees! If you generally get it right!   I only need to make 8% a year to beat the banks interest rate on the Margin Loan. I think I paid my interest for the year in the past week.   Unfortunately, when the market crashes, I'll have to sell YTs new Porche to pay out the loans.


----------



## Sean K (14 December 2006)

I think the H&S is falling over but not confirmed. Seems to be a slight trend up now. Some good support around $1.40 ish.

Still cautious of any break below $1.30 ish.

A very bullish sign on the chart is the MACD about to break the signal line, on the up, and diverging. 

I have a feeling oilers are getting a little more bullish. Just a hunch.   

From FN Arena today: 

Merrill Lynch rates the stock as Buy, Medium Risk - The broker recently upgraded its oil price forecasts and has taken the opportunity to reiterate that it is particularly keen on BPT. 

Target price is $2.00 Current Price is $1.44 Difference:$0.56 - (brackets indicate current price is over target). If BPT meets the Merrill Lynch target it will return approximately 39% (excluding dividends, fees and charges - negative figures indicate an expected loss). 

The company''s fiscal year ends in June. Merrill Lynch forecasts a full year FY07 dividend of 1.50 cents and EPS of 15.50 cents . At the last closing share price the estimated dividend yield is 1.05%. At the last closing share price the stock''s estimated Price to Earnings Ratio (PER) is 9.26.


----------



## champ2003 (29 December 2006)

Looks like BPT could be on the rise again


----------



## Bonk (1 January 2007)

BPT has been holding back those key announcements we all have been waiting for . Basker-Manta is the current play with this stock . There should be some heavy announcements flowing first half jan07 .

Chart looks healthy for a change . The outstanding stock should now have a home . Buyers now having an impact on things!


----------



## jroesten (12 January 2007)

Any thoughts on resistance points on this downturn Kennas or anyone.  I may be tempted to get back into this soon.   JR


----------



## Sean K (12 January 2007)

jroesten said:
			
		

> Any thoughts on resistance points on this downturn Kennas or anyone.  I may be tempted to get back into this soon.   JR



Might be support around $1.20. I'm out. I thought $1.30 ish was a critical level. I'll revisist when/if POO stops dropping, or we get some feedback on the Delhi buy.


----------



## BeterValue (13 January 2007)

Hi Guys,

Did get good support at 1.18 today.  Should have added a bit more to me stockpile.  What is the indications on Oil price?

Regards,
BV


----------



## vert (13 January 2007)

oil had a low of 51.57 then closed 52.86 up 0.98 this must be the bottom?

ive had 2 losses on this one cfds 1.43 and 1.47 both stopped out. 1.18 - 1.20 i think is a bargain now hope some of you got on, i would but the remaining $ i had left went to bsg, has done me well before, cfds are great when they go your way, suck when they dont. good fun to have go at.


----------



## Darryn (14 January 2007)

Appears to be a good buy at the moment. Bought in at 1.24. After reading brokers research reports they value this stock at around 1.90 (Euroz)


----------



## reece55 (14 January 2007)

Kennas
Good to see you stopped out here at 1.30 - excellent trade management IMO. I think its clear that the $1.30 was a critical level and I would have thought it is a logical stop level. There was a sideways movement in place since September that certainly on the face of it looked bullish. However, it's clear now that this is over. It is better to close out and take a loss when your view has not come to fruition. 

To everyone else who remains long on this one, my take here is that using t/a being long here is a big no no. Look at the chart for 2 years - i believe that we have broken a 2 year up trend that has taken this one from 40 cents to peaks at almost 1.80. I might be wrong, because there is support at about 1.20 established it that wide price day in June. But look at the last two days - on Thursday we have extremely high volume, with clear breach of support and close on lows. Friday, whilst positive, the close is on much lower volume. This to me whiffs of sellers. As with all stocks in the oil & gas sector, there may still be pain ahead IMO.

Cheers


----------



## Sean K (14 January 2007)

reece55 said:
			
		

> Kennas
> Good to see you stopped out here at 1.30 - excellent trade management IMO. I think its clear that the $1.30 was a critical level and I would have thought it is a logical stop level. There was a sideways movement in place since September that certainly on the face of it looked bullish. However, it's clear now that this is over. It is better to close out and take a loss when your view has not come to fruition.
> 
> To everyone else who remains long on this one, my take here is that using t/a being long here is a big no no. Look at the chart for 2 years - i believe that we have broken a 2 year up trend that has taken this one from 40 cents to peaks at almost 1.80. I might be wrong, because there is support at about 1.20 established it that wide price day in June. But look at the last two days - on Thursday we have extremely high volume, with clear breach of support and close on lows. Friday, whilst positive, the close is on much lower volume. This to me whiffs of sellers. As with all stocks in the oil & gas sector, there may still be pain ahead IMO.
> ...



Thanks reece,

I think some of the selling may have been techincal, but POO has been instrumental in the Oilers sliding - of course. (and no pun intended)

I think oil will turn around soonish and I will be back into this when the dust settles. It's a finite resource and there are more and more gas guzzlers hiting the streets (especially China) which in the next 20 years will be the world largest demand. So, I am still positive on the long term prospects of this company and will reenter in time.

All the best top long term holders....


----------



## Out Too Soon (9 February 2007)

I think this is going to be an oilers' year so I've added beach to my watchlist. (a year to watch poo)  
Hope things pick up for you long termers soon, hopefully I manage to jump on before the lift off starts.


----------



## Kauri (13 February 2007)

Looks like this string has almost reached TD.. will it strike oil or be plugged and abandoned???


----------



## clowboy (13 February 2007)

hmm nice chart and all, but what the hell does it all mean?

Up or down for the share price?


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## reece55 (13 February 2007)

Kauri
Excellent short here - this thing just keeps slipping, the sellers are abundant. The continued downtrend that I had predicted back a little while ago after the brake down out of the sidewards movement has accelerated rapidly. Brokers are saying this one's a screaming buy - personally, I wouldn't touch the thing with a 40 foot pole!

Cheers


----------



## Kauri (13 February 2007)

reece55 said:
			
		

> Kauri
> Excellent short here - this thing just keeps slipping, the sellers are abundant. The continued downtrend that I had predicted back a little while ago after the brake down out of the sidewards movement has accelerated rapidly. Brokers are saying this one's a screaming buy - personally, I wouldn't touch the thing with a 40 foot pole!
> 
> Cheers




   Hi  Reece..
              If the brokers who reckon it's a screaming buy had put their money where their mouth is then maybe they would have managed to stop the rout. I'm not sure that even a 40ft pole would be long enough to be able to reach this one at the moment.   
              By my elementary E/W I do however think that a bottom may not be far off, but after a long substained fall like this I don't think it will turn on a dime. Maybe bottom out, advance a bit, re-test the bottom, before trying to get some northward movement. 
           Cheers.. Kauri


----------



## rederob (13 February 2007)

Kauri said:
			
		

> Hi  Reece..
> If the brokers who reckon it's a screaming buy had put their money where their mouth is then maybe they would have managed to stop the rout. I'm not sure that even a 40ft pole would be long enough to be able to reach this one at the moment.
> By my elementary E/W I do however think that a bottom may not be far off, but after a long substained fall like this I don't think it will turn on a dime. Maybe bottom out, advance a bit, re-test the bottom, before trying to get some northward movement.
> Cheers.. Kauri



Kuari
Sorry to interrupt your transmission.... again.
My simple "support" line is broken near $1.15 so I would be looking at buying - actually "adding" to a small holding I took last year.
However, my fundamental view is that it is 2-3 months early to buy into an oiler, so I will re-enter BPT nearer $1.10 - my strategy is 2 entries of 10k shares.
The company is quite sound and has suffered the pains of an over-expensive acquisition that looked good while oil was still trending up to $80 rather than down to $50.
The POO cycle suggests another tilt at $50, so if in the next few months both my hurdles are jumped, so will I.    

I see 2007 as a relatively "steady state" for oil prices, unless hurricanes damage rigs again in GOM.  But I see 2008 as the year all hell can break loose as that is when the Saudi's will have to pull out all stops to keep the world's economic engines (literally) running.
My view is that Peak Oil will talked about then just as "climate change" is now - that is, by a better informed scientific (engineering) community rather than economists and politicians.


----------



## Freeballinginawetsuit (14 February 2007)

reece55 said:
			
		

> Kauri
> Excellent short here - this thing just keeps slipping, the sellers are abundant. The continued downtrend that I had predicted back a little while ago after the brake down out of the sidewards movement has accelerated rapidly. Brokers are saying this one's a screaming buy - personally, I wouldn't touch the thing with a 40 foot pole!
> 
> Cheers





Nice Call, NOT!.


----------



## reece55 (14 February 2007)

Freeballinginawetsuit said:
			
		

> Nice Call, NOT!.




Yeah, ok mate..........

If you review my earlier post, I stated not to enter this one when it was at 1.30..... last time I checked, if I was short (which i'm not) I would still be in the money by about 10% even after todays move upward.

Todays action may make me revisit my analysis, but mate a bounce is still just a bounce - a trade long here is still a trade against the trend. But good luck if you like catching knives! The raw fact is they paid too much for Delphi - its just that simple if you ask me.

Cheers


----------



## Bush Trader (14 February 2007)

reece55 said:
			
		

> Yeah, ok mate..........
> 
> If you review my earlier post, I stated not to enter this one when it was at 1.30..... last time I checked, if I was short (which i'm not) I would still be in the money by about 10% even after todays move upward.
> 
> ...




Another opinion perhaps, at this sp the market places little value on any exploration upside or perhaps the true discounted cashflows atributable to Delhi?  

I'm not a holder, however I've been watching it closely for some time, and of course are interested in all your comments.  The 40 ft barge pole remark concerns me somewhat, however that why we all follow this site - to be challanged in our opinion.

The peake oil theory is also open to conjecture - less oil/growing demad by oil stocks used to be my opinion.  Now i look at as by oil stocks market disapointed by down trend in production SP punished - we all need oil stocks with stong cash flows and reserves, exposed to the upside in the oil price, and hopefully the right exploration plot!

Cheers BT


Overlooking The Beach

Source: FN Arena News - February 14 2007 
By Greg Peel

"Now that Beach should be joining the big league, it follows that more leading brokers will initiate coverage of the stock. This usually means share price support, particularly as fund managers will start to take an interest."
I wrote that in September. I was wrong, wrong, wrong. The Beach Petroleum (BPT) share price has since fallen steadily from $1.60 to under $1.20 and still only one broker in the FNArena database of leading brokers and researchers Ã¢â‚¬“ Merrill Lynch Ã¢â‚¬“ covers the stock. However, Intersuisse covers the stock, and the analysts believe it is the market that is wrong, wrong, wrong.
Beach Petroleum leapt into the headlines last September when it went from oblivion to the fifth largest oil and gas company on the ASX. Beach shocked the market by significantly gazumping sector heavyweight Santos (STO) in its bid for Delhi Petroleum. While the price was a full one, Merrill Lynch suggested the jump in scale and size would generate a lot more interest in Beach.
Beach has secured the share in Delhi. However, apart from paying a full price, the company had to significantly expand its capitalisation through debt facilities and capital issues. This was not well accepted by the market. To top things off, the oil price has been in decline ever since.
Moreover, Beach had previously been a "serial underperformer", poor at managing investor relations, poor at attracting analyst interest and not a good payer of dividends, notes Intersuisse. A whole raft of reasons why no one much has given the company a second thought since.
But Intersuisse believes the market will finally begin to re-rate Beach as it sees "tangible evidence of strong operating and financial performance, likely over the course of FY07". Another reason why the market is slow to move, says Intersuisse, is because it's waiting for the first half result on February 28. That result will probably be slightly down on the previous corresponding period, the analysts expect, but the second half result should be "much stronger", and FY08 even stronger still.
The acquisition of Delhi, effective from January, has increased Beach's "barrels of oil equivalent" from 63m to 101m, and shifted its gas/oil ratio from 90/10 to 70/30, notes Intersuisse. Beach believes Delhi's reserves, particularly of oil, can be substantially lifted. Beach also has fingers in pies elsewhere, including the Gippsland and Cooper Basins (oil & gas), as well as a coal seam gas project in Queensland and, according to the analysts, an "important and growing presence in the renewable energy sector".
Beach is also exploring vigorously, and will participate in about 100 appraisal wells in FY07.
Intersuisse is forecasting a first half profit just under $30m, but a full year FY07 profit of $120m, rising to $185m in FY08 as various projects kick in. The analysts rate the stock a Buy.
So too does Merrill Lynch, having done so back in May last year. The analysts are maintaining a target price of $2.00. The stock closed at $1.125 yesterday.


----------



## Kauri (14 February 2007)

The volume over the past month coupled with the basing price action suggests steady accumalation to me, todays action although positive suggests that there are still sellers out there. The next few days will be interesting.

   P.S... Red, I've dusted off the running shoes but haven't got down in the blocks for the 110mtr hurdles yet.


----------



## reece55 (14 February 2007)

Agree Kauri.... I would expect a short rise, then a retest of those lows .... The sellers haven't left the game yet IMO. However, I also agree that the fundamental investors have been accumulating at the lower end of the rot.... The problem IMO has been that anyone who accumulated the stock over that period Sept - Dec is well in the red..... However we will probably find that most are now out....

BT, I agree that at these levels BPT is looking attractive from a valuation perspective. The premium they paid for Delphi appears to now have been diluted and certainly the market appears to be undervaluing them from an NPV perspective. But the market can undervalue companies for years and with so many other stocks showing incredible performances, I want price confirmation to convince me to take a long position.

Cheers


----------



## rederob (14 February 2007)

kauri
I liked today's bounce.
I am now more hopeful of a $1.10 entry than yesterday: I agree on the "sellers" point.
But I am not keen to even put on the running shoes this early, unless the starter calls me to the blocks.

reece
I don't look for confirmation, as a rule; just my personal "value' criteria.
For example, were I in the market for KZL I would have got it last week and been 10% better off today.

BT
The only people that don't believe in "peak oil" are the people that haven't looked at the data from M King Hubbert and his many oil community experts over the past 50 years.  Issue is not "if", it's "when".  My view is that it will occur before 2010 unless a Gawhar is brought on line beforehand: Slim chance, because we have to find one first!


----------



## reece55 (14 February 2007)

Rederob
I actually traded that KZL bounce myself and made a few $$ - but it showed very different characteristics to that of BPT - KZL showed heavy accumulation and a support base.... BPT on the other hand shows me an accelerating downtrend that is near and end, but will probably hit your 1.10 target. When I say price confirmation, I include volume and price in the equation.

Good luck with getting the 1.10 entry - if it breaks 1.25 on high vol tomorrow with a close on the highs again, you might find the starters gun has commenced. Otherwise I would say we will hit your target and bounce nicely off it.

Cheers


----------



## Freeballinginawetsuit (14 February 2007)

reece55 said:
			
		

> Yeah, ok mate..........
> 
> If you review my earlier post, I stated not to enter this one when it was at 1.30..... last time I checked, if I was short (which i'm not) I would still be in the money by about 10% even after todays move upward.
> 
> ...




Catching a falling knife is a comparitive term and IMO should be reserved to high volume speculative stocks with no real fundamental value......bar hype and an SP rise. Gambling in real terms  .

It is difficult to put a real value on Oilers, BPT is a rarity and not cut from that mould. 

Sure BPT paid a premium for Delhi, just like punters who purchased oil stocks during that period. Oil corrected........and most of the canny punters would have liquidated early. 

You are incorrect in your assumption that BPT holders from high prices are out ATM. The vast majority of long termers and insto's from the delhi aquisition would still be in. BPT's slide is from short term traders punting on a rise that has never happened and cutting small percentage losses.

The ones who exited months back are in the sidelines biding their time waiting for the value and it is these who will decide when the bottom is met and the value fundamental punters kick in.

So yeah mate....Im catching BPT now and every time it drops under a $1.15, I will be accumalting reasonable parcels till I'm happy with my holdings.  . Todays price action wiped an intraday trend with sudden volume, wear youre blinkers if you want the big punters certainly are not!.


----------



## reece55 (14 February 2007)

Freeball
I think its a big call to say the instos and holders from Delphi are still there - there are no sub holders here that I know of, so its really impossible to state this fact. However, I wish you the best with your trade here. As I have said in a few other posts, 1.15 may be in the end of the slide and if it is, then good luck to you - I mean no malice, I wish you the best. It's just not the way I personally trade, but I say find whatever works for you - the market is more about you as person than about the market in general if you ask me.

By the way, great nickname!!!!

Cheers
Reece


----------



## Kauri (24 February 2007)

Kauri said:
			
		

> *14 Feb*...The volume over the past month coupled with the basing price action suggests steady accumalation to me, todays action although positive suggests that there are still sellers out there. The next few days will be interesting.
> 
> P.S... Red, I've dusted off the running shoes but haven't got down in the blocks for the 110mtr hurdles yet.




   Am still watching with interest.. like to see this re-test of lows rejected strongly, there seems to be increased buying stopping it dropping the last 2 days... then hopefully a strong break through resistance... not asking for much I know...   
 P.S. There you go Red, I can see the hurdles already.


----------



## rederob (24 February 2007)

Kauri said:
			
		

> Am still watching with interest.. like to see this re-test of lows rejected strongly, there seems to be increased buying stopping it dropping the last 2 days... then hopefully a strong break through resistance... not asking for much I know...
> P.S. There you go Red, I can see the hurdles already.



Kauri
C'mon - there's 3 cents of action to the downside to come before I get serious!
However, with the allords very high, and oil prices relatively firm-to-high, there should be cyclical twin-shifts downward ahead for us.
Accordingly, I have revised my present thinking and am punting for $1.05 entry price - perhaps late march?
Will keep reworking the numbersimp:


----------



## Kauri (24 February 2007)

rederob said:
			
		

> Kauri
> C'mon - there's 3 cents of action to the downside to come before I get serious!
> However, with the allords very high, and oil prices relatively firm-to-high, there should be cyclical twin-shifts downward ahead for us.
> Accordingly, I have revised my present thinking and am punting for $1.05 entry price - perhaps late march?
> Will keep reworking the numbersimp:



  Red,
        Agree about the oil and xao this year, after all oil has put on about 20% recently and the xao about.. say 9% odd since the last blip?  Unfortunately BPT has been out of cycle over the same time, so possibly it is being driven by other factors? *IF* oil and xao both do cycle lower and *IF* BPT suddenly decides to get in step  it *might* get nasty. Just as numbers can be reworked, so hurdles can be shifted.   Just so long as they are not shifted mid-race.


----------



## Dr Doom (26 February 2007)

I agree that there is concern if/when the cycles start to line up we could be in for a correction but until such time we can still speculate. I've noticed what looks like a 2 tier energy market evolving between stocks that have responded to the oil price strength  & those that haven't, specifically - 

BPT, ARQ, HZN, PSA, STU, & COE

What makes it interesting is todays ann by TAP about a possible future owner taking up a position on the share register. When compared to BPT which ones of the above look better potential takeover prospects? I've chosen the above as the share prices for all of them are showing a similar downward slope, so at some stage each will be fair value to someone, possibly another company.


----------



## CanOz (26 February 2007)

Dr Doom said:
			
		

> I agree that there is concern if/when the cycles start to line up we could be in for a correction but until such time we can still speculate. I've noticed what looks like a 2 tier energy market evolving between stocks that have responded to the oil price strength  & those that haven't, specifically -
> 
> BPT, ARQ, HZN, PSA, STU, & COE
> 
> What makes it interesting is todays ann by TAP about a possible future owner taking up a position on the share register. When compared to BPT which ones of the above look better potential takeover prospects? I've chosen the above as the share prices for all of them are showing a similar downward slope, so at some stage each will be fair value to someone, possibly another company.




I like this......


----------



## Freeballinginawetsuit (27 February 2007)

IMHO today's announcement for BPT is a clear indication of their fundamentals that have been known for a considerable time.

BPT's been spanked hard on volume today and it is difficult to ascertain why posters wouldn't have accumalated over the last few days. Each to their own though


----------



## Kauri (27 February 2007)

Freeballinginawetsuit said:
			
		

> IMHO today's announcement for BPT is a clear indication of their fundamentals that have been known for a considerable time.
> 
> BPT's been spanked hard on volume today and it is difficult to ascertain why posters wouldn't have accumalated over the last few days. Each to their own though



  First hurdle jumped and 50% of position taken, will buy another 50% when next is achieved.


----------



## TheRage (15 March 2007)

Anyone know why volume is high on bpt today?


----------



## rederob (15 March 2007)

Kauri said:
			
		

> First hurdle jumped and 50% of position taken, will buy another 50% when next is achieved.



Got my second hurdle at $1.05
Last hurdle is to get in at $1 even but don't like my chances.
Methinks the bargain hunters are going to drive Beach north from here.


----------



## Porper (21 March 2007)

Thought it time for an update on BPT.

It came up on a scan today and I must admit I like the set up.

Reasonable low risk entry with very good support at 1.03, bounced off that area 3 times now.

Also we have some good type A divergence (the best ).

From an Elliot wave perspective, looks like the 3 wave correction may have completed.Today however wasn't so good so maybe not quite time for an entry yet, looks good to me though.


----------



## CanOz (21 March 2007)

Nice chart Porpy, agree. Saw it bounce off a buck the other day, crude oil needs to get on and up too. Need a nice entry.

Cheers,


----------



## Sean K (21 March 2007)

Hmmm, I've been watching closely since cashing out a while ago on terrible weakness. Back on the close watch list. I reckon this will be part of some industry rationalisation soon. Speculation, but all the mid tier oilers would be IMO. It's oil!!

Any idea how the India bed down thingy is going? Anyone?

(not holding)


----------



## nioka (22 March 2007)

56gsa said:
			
		

> Has bpt gone into trading halt - no ann but buy/sells don't match??  or is commsec slow today?



Trading normally. Up 2c Average vol.


----------



## Freeballinginawetsuit (23 March 2007)

nioka said:
			
		

> Trading normally. Up 2c Average vol.




A bit more momentum as well today Nioka


----------



## reece55 (23 March 2007)

Freeballinginawetsuit said:
			
		

> A bit more momentum as well today Nioka




Yep, looking quite nice......

Like the large volume spike at 1.05 when we went down to the lows...... Oil up 5%, looking good here..... Freeball, now I am interested! Also like the fact that the lows established in June - July have been respected and looks to have encountered what I consider to be good bargain buying.....

Cheers


----------



## Sean K (28 March 2007)

This new project alliance with ADI, BKP, and ARQ looks very interesting. 

I liked their last presentation. Nice slides....over 100mmboe reserves., largest mid cap (if that makes sence), very diverse portfolio (though still very Aus centric). No mention of the Delhi deal  What happened there??

I thought this was going to get to 90 cents at where the H&S projected, but maybe due to Iran situ it's stopped at 1.10 ish....Still vulnerable if Middle East tensions subside rapidy though IMO.


----------



## Porper (13 April 2007)

kennas said:


> This new project alliance with ADI, BKP, and ARQ looks very interesting.
> 
> I liked their last presentation. Nice slides....over 100mmboe reserves., largest mid cap (if that makes sence), very diverse portfolio (though still very Aus centric). No mention of the Delhi deal  What happened there??
> 
> I thought this was going to get to 90 cents at where the H&S projected, but maybe due to Iran situ it's stopped at 1.10 ish....Still vulnerable if Middle East tensions subside rapidy though IMO.





Well, everything is panning out nicely here.

Looking like a nice Elliot wave pattern.Wave 2 retraced almost smack on 50% of wave 1.So price projections are as shown.

The time scale is between 13 & 17 days.A little ambitious I would say, but we'll see.

Oil looks good and the last move was strong & impulsive.

Once we get through 1.265 we can almost say wave 3 has started, looking at yesterdays action that should be today.Unfortunately the low risk entry has been and gone.


----------



## CanOz (15 April 2007)

I agree Porpy, trying weekly pivots on this too.


----------



## Sean K (15 April 2007)

CanOz said:


> I agree Porpy, trying weekly pivots on this too.



Yes, me too. POI has obviously helped....


----------



## noirua (15 April 2007)

Interesting charts that make going back to this stock again quite interesting, thanks. A combined company comprising Claremont Petroleum, Beach Petroleum and some assets from the Litigation days, won't bore you by explaining the latter:  http://www.beachpetroleum.com.au

An interesting presentation ( 39 page download ):  http://www.beachpetroleum.com.au/fi...ses/2007/BPTInvestorPresentation2007Final.pdf


----------



## Sean K (16 April 2007)

noirua said:


> Interesting charts that make going back to this stock again quite interesting, thanks.



Another perspective. Indicators look to be saying that it will break this resistance at 1.25-30 ish. Pending any significant slide in POI.


----------



## svensk (16 April 2007)

Kennas,

In regards to the chart you posted, I have a couple of newbie questions I hope someone can answer for me. The fact that the SP has broken through the noted 1.25 resistance level, and is fast approaching the 1.30 resistance barrier, along with the upward movement of the MACD indicator, could one assume, at least in the short term, the SP will continue to rise?

I guess this could also be backed up by looking at the RSI. It still has a little room to rise before it moves into the overbought area, thus giving the sp more time to rise in the near future.

I'm new to basic TA, so any comments regarding this would be appreciated.


----------



## Sean K (16 April 2007)

svensk said:


> Kennas,
> 
> In regards to the chart you posted, I have a couple of newbie questions I hope someone can answer for me. The fact that the SP has broken through the noted 1.25 resistance level, and is fast approaching the 1.30 resistance barrier, along with the upward movement of the MACD indicator, could one assume, at least in the short term, the SP will continue to rise?
> 
> ...



Yes, what you are saying is correct. The 'probabilities' via TA are saying that this is going back up, but only just. The sp and the indicators need to be constantly monitored for a change in direction, if you are just buying off the chart. I'd be watching carefully for a reversal at this point. If it breaks back down through 125, and then 120, I'd be out, if just trading on TA. Long term 'investors' probably wouldn't care about these daily and weekly movements though. Just depends on how you invest/trade.


----------



## motorway (16 April 2007)

The ease of movement on the decline below the green line
Was not so evident

looked to be  plenty happy to accumulate

The lowest Bar was a "No Supply"  Bar marked with arrow

A spring on such low volume one could expect that it would not be retested

Two very high Volume bars follow

Only can be coming form new demand

A nice rally to ~1.25 and a nice backup
The most recent action is bullish a nice expansion of Volume in harmony with the price nice ease of movement

Set up now for a definitive Jump
A successful back up from that Jump
will be game set and match
atm a bullish consensus looks formed..

need a clear Jump and backup to confirm

Under the green line We can designate accumulation

accumulation is the work in the trading range

The cause that leads to an effect

A new markup stage.

two entry points so far
A third a major one hopefully occurs soon..

motorway


----------



## wto23 (26 April 2007)

Gday all I'm new to forum and this maybe a beginners question....
I'm long BPT. With todays announcement of record revenues why wasn't there support but rather the SP dropped and did so quite considerably at one stage.
Can anyone explain??

cheers.


----------



## bean (26 April 2007)

I sold today for other reasons not this one http://321energy.com/editorials/maund/maund042207.html

My other reason was post on gold price


----------



## motorway (26 April 2007)

You maybe want a fundamental reason ( Do they change from day today ? )

However

BPT is in a valid uptrend
completing a healthy reaction

Was not a bad move from the bottom.... 
healthy reaction already confirmed the trend once..

waves last as long as they have a following
The two highest bars show demand was less keen in following any higher..

sellers reached down for buyers found some and they became less keen.
However I would not have called that reaction "adequate"

The juncture of the horizontal line and the lower diagonal demand line is 
where I would be looking for the next buy signal..

What is your time frame ?

The last bar shows demand starting to meet supply..
That will sort itself out soon..

I see a potential from the accumulation in the down trending channel
to $1.80+ ... before meaningful distribution..

If I am wrong or things change ... 
That is what stops are for 

Why did it fall ?
On every scale there are waves that attract a following
Normal market action buying & selling ..
good response here should set up a good up wave.

Those responses look ok atm ( note that is atm   )

cheers
motorway


----------



## legs (4 May 2007)

up 5.58% today on a weak oil price....encouraging, is there something else going on? anyone have any leads?


----------



## Kauri (4 May 2007)

Missed that move today, was looking to pyramid in again... my price alert didn't go off..      After failed entry late Feb have taken one position and added once.  Looking initially for around $1.50-$1.60... 
   (Just checked my alerts.. had it set at $2.275 instead of $1.275     may be an omen there!!!).


----------



## thierry (8 May 2007)

Beach has beaten the recent 1.365 high on 19/04 and closed at 1.37. 

good signs.. looks to be a breakout imo


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## Kauri (10 May 2007)

BPT.... another one quietly going about its business..possibly heading for $1.50++ in the near future...


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## CanOz (14 May 2007)

This week, keep a look out for this one to either break its trend or resume it.

Weekly chart posted.

Cheers,


----------



## legs (21 May 2007)

CrazyCanuck or someone else, can you give us an updated chart or tell me where i can get a free chart easily from? Than ks


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## CanOz (21 May 2007)

Here you go, nice bounce off the trendline on good volume. 

Still stuck in trend. Maybe the price of oil will get it going again?

Cheers,


----------



## motorway (26 May 2007)

I see good relative strength in stocks in this group

Beach is not the strongest
But not the weakest

There was some shortening of the thrust
and evidence of supply 
(look at the closes )

Has come back to the trend line
volume subsided
last bar is a spring

definitely supply stopped the move
So a possible new angle of trend will be established
or a small trading range

still looks a buy to Me
and off this reaction low would be a good further
pyramid point

depending on how that unfolds

motorway


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## legs (29 May 2007)

Looking at the latest substantial shareholder notice from the Deutsche Bank. Two solid pages of on-market transactions, starting in January 07. Why would they be getting in if it wasn't on the up??


----------



## Kauri (29 May 2007)

Might be due for an attack on the ledge, doesn't seem to have the numbers behind it yet though??? ..100 yet??


----------



## Kauri (31 May 2007)

Breaking through the ledge... a bit early to work out vol but it looks quite heavy for this time of the morning so far....


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## Sean K (31 May 2007)

Kauri said:


> Breaking through the ledge... a bit early to work out vol but it looks quite heavy for this time of the morning so far....



You've followed this one extremely well Kauri. Great work. I can even see a vague C&H in the bigger picture. Break through $1.40 gives a price target of about $1.90. The right side of the cup, maybe not rounded enough. Maybe I'm dreaming.


----------



## Kauri (31 May 2007)

kennas said:


> You've followed this one extremely well Kauri. Great work. I can even see a vague C&H in the bigger picture. Break through $1.40 gives a price target of about $1.90. The right side of the cup, maybe not rounded enough. Maybe I'm dreaming.




Kennas...you're not dreaming as far as I see it anyways...On the weekly the cup is developing well... and it may tie in with my E/W as well... the vol on the cup doesn't really line up with the classic interpretation, but be warned that if to me it looks like a cup, feels like a cup, it's probably a mug  ....


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## TheRage (31 May 2007)

I agree with both of your assessments. I have been a big believer in this company for a while. On forecast earnings the fundamental valuation is in the vicinity of $1.70 for this year. The Dehli acquisition and declining oil prices last year presented a interesting buying opportunity at $1 earlier this year.


----------



## legs (1 June 2007)

Nice bollinger band squeeze, RSI not too high, likely to break out... lets just hope its up... 52 week high of 1.78 is not a likely target yet but 1.50 can't be out of the question.


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## legs (5 June 2007)

Continuing its uptrend after good results at its Bodalla South field in southeast Australia. Beach said in a statement that an appraisal drilling programme at its fully-owned Bodalla South field in the Cooper Basin showed oil flows of 4,617 barrels of oil per day (bpd) in the Bodalla South 17 well.

The Bodalla South 16 well had a flow of 230 bpd. 
The two new appraisal wells have added an estimated incremental oil reserve of 250,000 barrels to the field and commercial production from the wells would be underway in a month.

Adelaide-based Beach said the oil shows at Bodalla have also opened the northern portion of the field to further drilling.

Beach Petroleum's Managing Director, Reg Nelson, said the success at Bodalla has given the company "a very high level of confidence of further extractive upside for some years in both Bodalla and the nearby Kenmore fields".

Shares in Beach, which has a market value of around A$1.26 billion ($1.04 billion), were up 2.15 percent at A$1.425 by 0348 GMT.

Beach, which had oil and gas reserves of 101 million barrels of oil equivalent as at July 1, 2006, produced 1.35 million barrels of oil in 2006.
http://au.biz.yahoo.com/070601/19/19auz.html


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## Col Lector (5 June 2007)

legs said:


> Nice bollinger band squeeze, RSI not too high, likely to break out... lets just hope its up... 52 week high of 1.78 is not a likely target yet but 1.50 can't be out of the question.




Gidday legs....made/making short work of 1.50....I think $1.78 just round the corner on the basis of the impressive UBS presentation today. The  combination of both conventional oil/gas, & "green" energy will likely ensure strong ongoing investor interest. Tipton-west is a nice asset to have but the geothermal project a news-generator ongoing.


----------



## legs (5 June 2007)

Col Lector said:


> Gidday legs....made/making short work of 1.50....I think $1.78 just round the corner on the basis of the impressive UBS presentation today. The  combination of both conventional oil/gas, & "green" energy will likely ensure strong ongoing investor interest. Tipton-west is a nice asset to have but the geothermal project a news-generator ongoing.




I agree after todays presentation the sky's the limit... i didn't honestly think that it would have been that impressive. On Monday i was going to take profits at 1.50 but i think iw illl hang onto them for a little longer and see what happens..
http://www.asx.com.au/asx/statistics/getAnnPdf('/asx/statistics/showAnnouncementPDF.do?idsID=', '00727056', 'Announcement');return false;


----------



## motorway (5 June 2007)

Breaking out from a zone of absorption
trend lines nicely defined the action

Price could not react back to the 50% level
= strength

Volume indicator shows supply
=  absorption ( effort and result not in harmony)

confirmation is the breakout
( Though We are not at the close YET  )

motorway


----------



## TheRage (6 June 2007)

Closed at 1.49 on volume of 8,000,000 shares. ABN AMRO presentation probably helping the price a little.


----------



## legs (11 June 2007)

Didn't even budge a cent on Friday against the markets 1.26% drop! Must be strong. All the talk about BHP standing up well against Fridays move, what about this little beauty's response. Are we in for a good rise on Tuesdays open?


----------



## Col Lector (11 June 2007)

Gidday Legs...
Apparently BPT is named as the The Smart Investor - June 07
VIP stock for year 2008. 
Yet to check it out myself....but bodes well for this week....& beyond.


----------



## legs (11 June 2007)

Col Lector said:


> Gidday Legs...
> Apparently BPT is named as the The Smart Investor - June 07
> VIP stock for year 2008.
> Yet to check it out myself....but bodes well for this week....& beyond.




Just hoping it wasn't *all* to do with ABN AMRO presentation earlier in the week. But some other announcement or brokers tip.


----------



## Jay-684 (11 June 2007)

Its also recommended as a BUY on Australian Stock Report as of last week too, around the $1.48 mark from memory...


----------



## Kauri (13 June 2007)

I will be watching..(I hope..  ) over the next few days to see if the tentative trading chanell along with the typical W4 area give support, could even turn into another pyramid opportunity if my stop is not claimed..


----------



## Kauri (13 June 2007)

kennas said:


> Kauri, shouldn't your support run up underneath the channel as the base? I would have put it more along the lines of below. Or this because of the W4 area you're talking about. $1.40 looks to be pretty important in this view. $1.35 is support by my reckoning, and might be past a breakdown. Stochs look ugly at the moment. Not much difference here, just curious as to why you've put support _exactly _where you have? cheers.




Kennas,
Sorry for the confusion, not having a good week...
My stop is not at a logical support level, rather based on E/W.. i.e W4 can't (on equities at least) overlap W1.. if it does the pattern I am trying to trade is invalid, hence a close below the red stop line will see me depart... 
Cheers
Kauri

   I knew I was having a bad week...but now I am replying to non-existant posts!!


----------



## Sean K (13 June 2007)

Kauri said:


> Kennas, Sorry for the confusion, not having a good week... My stop is not at a logical support level, rather based on E/W.. i.e W4 can't (on equities at least) overlap W1.. if it does the pattern I am trying to trade is invalid, hence a close below the red stop line will see me depart...    Cheers, Kauri



LOL, sorry for my confusion. Seems obvious what the lines are now. $1.40 looks pretty important here doesn't it. Breaking $1.35 will confirm it out of the current trend although might be too much leeway. So, I agree that your stop there is prudent, just on S&R.


----------



## CanOz (13 June 2007)

My stops is 1.40, but i'll use the close in case it does get bought off the lows today...this has been a frustrating share for me, i think i've been in and out of BPT a half dozen times now over the last couple of years, stopped out every time....

Cheers,


----------



## TheRage (13 June 2007)

CanOz said:


> My stops is 1.40, but i'll use the close in case it does get bought off the lows today...this has been a frustrating share for me, i think i've been in and out of BPT a half dozen times now over the last couple of years, stopped out every time....
> 
> Cheers,




I feel your frustration. This stock is fundamentally stronger than most of the oilers. The earnings are real, they are transparent and the Dehli acquisition seems to be paying off for beach. I just don't see why others can't see the value.


----------



## CanOz (13 June 2007)

TheRage said:


> I feel your frustration. This stock is fundamentally stronger than most of the oilers. The earnings are real, they are transparent and the Dehli acquisition seems to be paying off for beach. I just don't see why others can't see the value.




Well it closed the day .5 above my stop so its safe for now...its on the trendline now, a bounce and we're back on our way, if it goes through then its 'another one bites the dust'! 

I've got stopped out 9 times in the last two weeks! Thankfully my winners are still holding up...its been a full time job just managing stops.

What do you see as fair value for BPT?

Cheers,


----------



## mime (13 June 2007)

Have faith CanOz. I think long team this stock is a winner. I bought ages ago at $.45 or so and hoping it becomes the next oil search and then Woodside. I can dream huh?


----------



## TheRage (13 June 2007)

CanOz said:


> Well it closed the day .5 above my stop so its safe for now...its on the trendline now, a bounce and we're back on our way, if it goes through then its 'another one bites the dust'!
> 
> I've got stopped out 9 times in the last two weeks! Thankfully my winners are still holding up...its been a full time job just managing stops.
> 
> ...




On forecast earnings for end of financial year at 11 cents which on interim data would suggest that this target might be met we can roughly value Beach by multiplying average historic PE by earnings. This gives us a rough current value for the company. PE average for past 7 years has been 13 therefore 13 * 0.11 = $1.43. So at this point in time providing beach meet production output, which seems likely the company should be valued where it currently is. However value should also reflect future earnings and based on a forecast of 20 cents in FY08 it would be tempting to think that Beach should be valued a little higher .2 * 13 at around $2.60 however to think that Beach will be exactly equal to $2.60 in 2008 would be foolhardy but not impossible. Using this valuation technique does not account for the total cash flows over a period of time but rather a snapshot. With barel prices locked in at $65 for the next 4 years and with the option to take up higher oil prices we can be assured that oil price won't change the value as much as the production outputs and reserves of the company which Beach has plenty of both. Beach has 10 year of oil in reserve, plenty of LNG which seems to becoming vogue and geothermal energy to hedge against any negative sentiment toward oil. I think a fair valuation would be around $1.50 for now but if production forecasts are in line or greater, this stock should be worth $3 in the next year or two. I am prepared to hold. 

Dislaimer: this is only my opinion and not financial advice DYOR.


----------



## CanOz (13 June 2007)

TheRage said:


> On forecast earnings for end of financial year at 11 cents which on interim data would suggest that this target might be met we can roughly value Beach by multiplying average historic PE by earnings. This gives us a rough current value for the company. PE average for past 7 years has been 13 therefore 13 * 0.11 = $1.43. So at this point in time providing beach meet production output, which seems likely the company should be valued where it currently is. However value should also reflect future earnings and based on a forecast of 20 cents in FY08 it would be tempting to think that Beach should be valued a little higher .2 * 13 at around $2.60 however to think that Beach will be exactly equal to $2.60 in 2008 would be foolhardy but not impossible. Using this valuation technique does not account for the total cash flows over a period of time but rather a snapshot. With barel prices locked in at $65 for the next 4 years and with the option to take up higher oil prices we can be assured that oil price won't change the value as much as the production outputs and reserves of the company which Beach has plenty of both. Beach has 10 year of oil in reserve, plenty of LNG which seems to becoming vogue and geothermal energy to hedge against any negative sentiment toward oil. I think a fair valuation would be around $1.50 for now but if production forecasts are in line or greater, this stock should be worth $3 in the next year or two. I am prepared to hold.
> 
> Dislaimer: this is only my opinion and not financial advice DYOR.




Thanks heaps mate, good to hear the fundy side once in while...1 broker rates it a mod buy and 2 a strong buy too.

Cheers,


----------



## TheRage (14 June 2007)

CanOz said:


> Thanks heaps mate, good to hear the fundy side once in while...1 broker rates it a mod buy and 2 a strong buy too.
> 
> Cheers,




No worries. I am a fundie at heart but I am starting to use charts more and more. I also agree with your stop loss level and am tempted to average down a little. I can't help but think this stock will bounce back especially after June 30 when last minute super contributions will be pumped back into the market.


----------



## TheRage (14 June 2007)

Beach firmed up to $1.47 on 6.5 million volume. Let's hope the trend resumes but without some good news I am not sure that it will continue easily.


----------



## clowboy (18 June 2007)

Would I be right in saying that BPT is forming an acending triangle?  And if it plays out and breaks above ~$1.50 that would be bullish and warrant a trade ?

Hopefully the chart attaches right


----------



## Kauri (20 June 2007)

BPT *may* be getting ready to move on into W5.. not really a pyramid opportunity for me, but if it goes the way I think it will I'll be looking to add at the start of the next intermediate wave... maybe..


----------



## Sean K (20 June 2007)

Kauri said:


> BPT *may* be getting ready to move on into W5.. not really a pyramid opportunity for me, but if it goes the way I think it will I'll be looking to add at the start of the next intermediate wave... maybe..



Building up a little steam here I think. Gotta give one way or the other and you'd think up, with the momentum in this, and the sector. Could this be a handle on a cup? Target $2.10?  Cup might be a bit V shaped I suppose. Handle not long enough. :dunno:


----------



## Kauri (20 June 2007)

kennas said:


> Building up a little steam here I think. Gotta give one way or the other and you'd think up, with the momentum in this, and the sector. Could this be a handle on a cup? Target $2.10?  Cup might be a bit V shaped I suppose. Handle not long enough. :dunno:




   Hi Kennas,
          Might be a bigger cup in play too?? Never sure untill they have completed of course..  
     Cheers
Kauri


----------



## Kauri (21 June 2007)

The last of my *posted* currently open CFD DMA trading portfolio shares...will leave the stop as is and possibly put on a MA stop if it moves on up... 
   Cheers
Kauri


----------



## zuluwarrior08 (23 June 2007)

Still trading in that ascending triangle, closed just above dynamic support on FRI at 1.445/1.50. Im waiting on this one to explode, but who knows if it will go up or down? how much longer will it trade in this range.

Fundamentals look good still, I wonder who will last out, buyers or sellers?

Will be good to watch this week


----------



## Kauri (26 June 2007)

Beach looks like it may be going to make a bit of a run, good volume early on too..
 ...Cheers
.......Kauri


----------



## clowboy (26 June 2007)

Pre open?

I cant find an anouncment saying why? anyone else have any anouncments showing?

If it is a speeding ticket there should still be an anouncment shouldnt there?

Anyway hope it's good


----------



## Kauri (26 June 2007)

*What a surprise... trading halt ( no insiders-smart money??)* on Basker-Gummy oil optimisation..
.....Cheers
.............Kauri


----------



## clowboy (26 June 2007)

Doesn't seem like a very good anouncment?  I would think the share price will fall back now?  Am i Reading it right?


----------



## Kauri (26 June 2007)

clowboy said:


> Doesn't seem like a very good anouncment? I would think the share price will fall back now? Am i Reading it right?




 Clowboy, 
               Looks like it, I've got out at $1.50, left a fair chunk of todays action on the table but can't win them all... starting to look like a classic blow-off...
.Cheers
........Kauri


----------



## clowboy (26 June 2007)

Another trading halt.  yay


I noticed this last trading halt and this one as well (see attached)

Is this some kind of bot trading or what?


----------



## 56gsa (6 July 2007)

Sorry - don't have time to do this research myself but seems the Baskar Mantra project is having a number of troubles - what percentage of BPTs future revenues does this represent?

thanks to anyone who can help...


----------



## coinemas (7 July 2007)

Attached is the link to BPT's March 07 report, If my math is correct, which shows that oil revenue from Gippsland basin ( Basker Manta ) represent about 24% of total BPT's during that Qtr. 

SP has down  12% , market may be overreacting?  given that BManta will be back in operational within "a number of weeks" not months. 

Fri 6/7  another ann after market closed . "WARRAGON-1 SPUDS IN SW QUEENSLAND" estimate mean recoverable  oil 1.33MMBO + 0.56MMBO . 

Would like to see other member's comment.



http://www.beachpetroleum.com.au/fi...ses/2007/048-07QuarterlyReporttoMarch2007.pdf


----------



## TheRage (8 July 2007)

Okay here is the deal for Basker.

Oil sales for the whole of Beach for the quarter = 2590 KBOE = 2,590,000 Barrels of oil.

Basker
Average BOPD for 1/4 = 8752
8752 * 365/4 = 798620 Barrels of oil for quarter.

798620/ 2590000
=31% of sales from Basker.


I am not entrely convinced fall in current Sp is due to Basker problems but rather Alinta gas deal collapsing. I got stopped out at 1.40 but once we find a bottom again I will jump back in. I think BEach management are doing a good job and it seems with all of the interest in green energy everyone overlooks the fact Beach own 21% of Petratherm Energy and has the option to buy another 15% into the company.


----------



## reece55 (8 July 2007)

TheRage said:


> ..........with all of the interest in green energy everyone overlooks the fact Beach own 21% of Petratherm Energy and has the option to buy another 15% into the company.




Rage
Beach have an equity interest in the Paralana Joint Venture, not the Company itself. 

Just thought I would make the distinction for you, because it is only that one project that Beach will have equity in, provided they meet the farm in expenditure requirements.

Minotaur Exploration Ltd is actually the biggest holder in the entity, with 34% of the issued capital.

Cheers
Reece


----------



## TheRage (9 July 2007)

Reece thanks for clearing that up. No excuses for getting that one wrong. I still think beach is cheap on forward earnings but the question is whether Beach has the oil supply to last beyond 10 years?


----------



## 56gsa (11 July 2007)

thanks for your comments above - as we suspected it looks like the market may have overdone things - news out today seems to have given them a lift - will this continue to test 1.50 mark again? or too early to say?  PoO up and good news on other projects continues...
Others thoughts?



> BASKER MANTA COMPLETES INSPECTION OF STATUS OF SINGLE POINT MOORING (SPM)
> 
> The BMG JV provides the following summary of activities and plans following the incident last Thursday when the BMG shuttle tanker, the Basker Spirit, drifted from its SPM in Bass Strait.
> 
> ...


----------



## Chief Wigam (30 July 2007)

Seems to be good up side with this stock and short term target is $1.60.

Was travelling nicely until this recent market correction.


----------



## Fab (31 July 2007)

Chief Wigam said:


> Seems to be good up side with this stock and short term target is $1.60.
> 
> Was travelling nicely until this recent market correction.




Indeed I am surprised BPT is not much higher yet. This might help.

"Beach Petroleum Ltd has continued to break quarterly and annual production and sales
revenue records and has also booked a big increase in petroleum reserves in the period
ended 30 June 2007.
Sales revenue in the June quarter rose 18 per cent to a record $A93.03 million, up from
$A78.6 million in the March 2007 quarter"


----------



## howardlian (31 July 2007)

Anyone knows how to calculate for every 1000 barrel of oil, how much does it add to its e.p.s. Thanks


----------



## mime (31 July 2007)

Doesn't Beach have interest in geothermal energy?

http://news.ninemsn.com.au/article.aspx?id=92248

It sounds pretty good except the cost of infrastructure.


----------



## jroesten (4 August 2007)

Im back in this now at $1.22....bought at 30c a couple of years ago and sold completely out at $1.40 mid last year.  I didnt like the reaction of the market to the takeover last year or the way the bonus shares were issued at an above market price, or the huge increase the directors took in pay ....but confidence seems to have returned and the bedding process is hopefully over now.....so as a price of oil bet it looks good to me ..but take your own gambling advice. ;-)..Good luck to all.


----------



## Fab (27 August 2007)

Very nice jump in price today. I can't understand how a stock like BPT is still in the low $1. Does anyone know why it went up over 10% today?


----------



## Riles (27 August 2007)

This article in SMH may have helped...

Beach is starting to look underpriced

Reg Nelson gets to preside over the release of what should be a bumper result for Beach Petroleum on Wednesday. Thanks to a full year from the Delhi acquisition, the market will be looking for something near the $90 million mark ahead of a charge to $200 million in following years.


That's why analyst Stuart Baker at Morgan Stanley slapped a $2-a-share price target on the stock early last month when Beach was looking nice and strong at $1.43 a share. That Beach has drifted back to $1.145 on Friday - it hit 99c on Black Thursday - reflects the lack of rebound for the stock since the subprime sell-off, plus some disappointment that the BMG oil project in Bass Strait needs remedial work to get to original forecast production levels.

Wednesday's profit report could be the catalyst for the rerating that Baker and others think is now due to Beach, now ranked number four in our listed oil and gas stocks behind Woodside, Santos and Oil Search. Now that Beach has arrived as a sizeable and profitable producer for the long term (20 years-plus), Nelson has cranked up its exploration portfolio.

Four high-impact wells are now slotted to be drilled in the next 15 months. The big Fermat 1 gas target offshore from Portland in Victoria (1200 petajoules in the second quarter of 2008) has been locked in for a while. The new additions (1 in New Zealand's Taranaki Basin and two in the Bass Basin) each have the potential to yield net oil reserves to Beach of more than 20 million barrels of oil.


----------



## bhutos (27 August 2007)

Riles said:


> This article in SMH may have helped...
> 
> Beach is starting to look underpriced
> 
> ...




Yes... the last two weeks have been insane. I'd been doing a lot of comparisons between similar producing companies. I'm very happy though - it gave me a chance to get in a $1.16


----------



## Porper (27 August 2007)

Fab said:


> Very nice jump in price today. I can't understand how a stock like BPT is still in the low $1. Does anyone know why it went up over 10% today?




Certainly a good trading stock, unfortunately I sold out friday, pre-empting the reversal crossover on the oscilator.

Insane decision as you should always wait for the confirmation, not second guess things.

A slap across the face with a wet fish and learn......................again


----------



## mime (29 August 2007)

Must be good news today with a 80 point drop bpt is up or so 3%. Lets see what the future brings and fingers  crossed.


----------



## chicken (29 August 2007)

With those no published today and results up ...with great profits...I bought today at $1.24.....also years ago about 2 years they reduced their shares at 10 to 1  so I decided at reading their balance sheet its time to rebuy....happy and holding....took a while to get through their news but looking good....read it and DYOR...financials to June2007....and 2008 looking even bigger


----------



## Trader Paul (29 August 2007)

Hi folks,

BPT ... looking for a HUGE rally, between 21122007 and 31122007,
then more positive news, 25-28012008 .....

..... must go, more later.

happy days

  paul



=====


----------



## Ken (29 August 2007)

i bought BPT at 1.09 but sold out at 1.19
errr

smart investor magazine with amazing profit and growth.

as far oilers go

hows is BPT.

out of the following why BPT??

COE
ARQ
PSA
ROC
TAP


----------



## Ken (29 August 2007)

I am a little cautious on Oilers at the moment.

The Oil price goes to $50 a barrel again and majority of oil stocks are going to tank.

Very unpredictable. I have a theory that the Iraq's and Arab Emirates love moving the price of oil around they are the ones that can make bucket loads of cash as they control the flow thus determining the price?

So if it gets to high, they can slam it down.... 

I have no doubt its corrupt to some extent.


----------



## chicken (30 August 2007)

Ken said:


> I am a little cautious on Oilers at the moment.
> 
> The Oil price goes to $50 a barrel again and majority of oil stocks are going to tank.
> 
> ...




Ken, for once I do not agree with you....the US is trying to controll the oil price..BUT....the CHINESE are DRIVING motor cars...and getting OFF THEIR BIKES...that means...DEMAND is up...so your $50 a barrel,,,,,We can all dream...its more likely to go to a $100 a barrel...CHINESE are NOT getting back on their bikes...just been to Singapore...and if you seen what I have than you would understand...more like $100 a barrel of oil....the Chinese are driving the latest Mercedes,BMW and Rolls Royce cars...in Singapore...and there seems to be No let up...in China...with a population of 1.4 billion people say only 1/4 would drive a car...work it out the usage of oil needed...is hugh...now where would you get such a supply...work it out...your $50 a barrel is a pipe dream....only if the whole world economy would collapse...than perhaps....in the meantime we have INFLATION...thanks to Uncle SAM....ready to pounce in a big way...soon a $1million will be the norm for everyone...the US will soon reduce intrest rates...the market is swinging for that...see the dow....and the inflation spiral starts again...there is NO way of stopping it..so get used to it...as $50 per barrel..niece one....


----------



## chicken (30 August 2007)

20million shares traded today....BPT in the ASX200....funds are buying...BPT now 4th largest producer in Australia....and results are proving it...see their report...must read if wanting to invest....I hold....growthstock.....Reg Nelson the CEO said...many new wells going to be drilled and nodoubt will become productive...see Surat basin....also in NZ will be involved....see their profit result and sales...really starting to motor.....looks as if BPT has finaly cracked the big league....see their production.....I like the CEO had a hard time to start with but seems to have it sussed...


----------



## chicken (31 August 2007)

24million shares traded.....looking the part....rose 9cents.....so what price for these.....on other boards saying more like $2 now...look at that $500MILLION SAles of oil.....Reg is now in the big league...not bad for a company which was rearected.....I am holding


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## mime (31 August 2007)

Ken said:


> I am a little cautious on Oilers at the moment.
> 
> The Oil price goes to $50 a barrel again and majority of oil stocks are going to tank.
> 
> ...




An understandable concern but OPEC will collude together if the price falls to low so I feel there is no reason for concern.


----------



## chicken (31 August 2007)

Could you fellows post something constructive about BPT.....the price of oil is controlled by supply and demand as far as going back to $50.....as I said before...NO WAY HOSAY...why...explain why you think it will go to $50...You cant..can you...I expained why it will rise....everyday more petrol is needed to run the transports...so OIL will not be down...as far as the arabs mucking around with the price....the arabs will sell at the highest price the market can afford to pay....and BPT are now Australians 4th largest producer...now that is hugh for a company everyone thought was out the back door....what a great result for BPT...better to come...24million shares traded...funds are buying up large....


----------



## chicken (31 August 2007)

Also, in case you missed it BPT is in the ASX200........that is WHY the funds are getting in...and read BPTs report...tells the story


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## mime (1 September 2007)

Chicken my micro-economics teacher told me that OPEC controls the output of oil thus controlling the price. If they cut output the price will rise and vise versa. I think the oil industry has a bright future because of constant growing demand. Remember that nearly everything in modern life is oil based.


----------



## chicken (1 September 2007)

mime said:


> Chicken my micro-economics teacher told me that OPEC controls the output of oil thus controlling the price. If they cut output the price will rise and vise versa. I think the oil industry has a bright future because of constant growing demand. Remember that nearly everything in modern life is oil based.



Opec will sell at a price the market can afford...with inflation showing its head..that I am sure of your quotes are all up the chute and with BPT increasing production....Deutsche Bank is buying up large and their finance Dept..knows what they are doing....OIL is a product..which is in high demand...that you know....see Cue report...BPT just bought their bass straight field....BPT is Aussies 4th largest producer..and Reg their CEO..of 10years standing seems to have pushed BPT now into the big league...see the SP rise a lot further than present price..I bought at $1.25....this one should be on your radar screene......Also, I remember Osh not so long ago at 47cents....why did I not stay with them...I will not make the same mistake...I am holding


----------



## mime (1 September 2007)

chicken said:


> Opec will sell at a price the market can afford...with inflation showing its head..that I am sure of your quotes are all up the chute and with BPT increasing production....Deutsche Bank is buying up large and their finance Dept..knows what they are doing....OIL is a product..which is in high demand...that you know....see Cue report...BPT just bought their bass straight field....BPT is Aussies 4th largest producer..and Reg their CEO..of 10years standing seems to have pushed BPT now into the big league...see the SP rise a lot further than present price..I bought at $1.25....this one should be on your radar screene......Also, I remember Osh not so long ago at 47cents....why did I not stay with them...I will not make the same mistake...I am holding




Yeah I have big hopes that BPT will be the next OSH and then WPL(dreaming). I bough a few years ago at $.45 or so plus a hand full of options purchases. Fingers crossed for the future


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## Dutchy3 (27 September 2007)

Todays price action confirms a set up trade that I've been watching for months ... Classic signal and quite a few of other stocks have recently indicated the robustness of this pattern in the current market


----------



## motorway (28 September 2007)

> Todays price action confirms a set up trade that I've been watching for months




Hi Dutchy, I thought I might share this P&F chart with You...

 BPT still is in a long term uptrend

With a very large zone where price has been adjusting to the higher price levels.
In this zone there has been distributive and accumulative phases.

Here is some of the more recent activity and My opinion of it..
The zone in the oval is  strong accumulation ..

The secondary test of the zone was a shakeout..

The rally from that "shakeout" is strong..
with the activity in the circle is holding the gains
as demand absorbs supply...

numerous upside "implications" are activated...

Accumulation carries with it the implication of higher prices
Distribution carries with it the implication of lower prices

P&F is a way of putting a number to that implication..

Which allows for the ranking of opportunities..
And the measuring of relative performance..

BPT has been in an active trading range...
Where price seems to be not advancing

The fluctuations are a form of "work"...

While Price seems not to be doing anything

The " real fundamentals" ARE ( They are unfolding and becoming clearer to someone ) and the work on the chart is building technical positions..

Phases of accumulation... carry with them implications..
the Counts on the P&F chart are an objective measure of those implications.

They are NOT predictions

But tests that are either passed, failed or exceeded....

There have been "three pushes" to the bottom of this range
( Only the two recent ones are visible on the chart )

BPT's  immediate , intermediate and long term trends are all UP.
In My opinion..

motorway


----------



## Dutchy3 (9 October 2007)

Hi Motor

1.50 looking like a bit of short term resistance ... indeed the price not been above it for 12 months or so ... mind if it punches through I'd expect a reasonable move beyond


----------



## Col Lector (11 October 2007)

Plenty positive about Beach at the moment; Heaps of drill action...& production...Quietly racking up the discoveries....drilling success rate ~ 70%! Cooper Basin very productive but BPT expect to find more there...see SMH article 10/10/07.
First target in NZ (AWE lead) should be intercepted today. Success at this early stage would be very positive as they are talking big prospective reservoirs offshore NZ....


----------



## roland (11 October 2007)

BPT in pre-open, please have some more oil...... I wonder if the news will come through Comsec before the stock comes out of Pre-Open, I'm usually sitting here being the last to see the news


----------



## motorway (12 October 2007)

Just tidied up the counts

Interesting ( stepping stone matches the earlier accumulation zone )
( small counts the log box size has little significant variation form a linear box size )

still holding the gains.. That is Important..

I reckon a lot are looking left and expecting the same action as last time at these levels

Bar Chart then displayed a clear upthrust

So far this action looks different
sure there is selling pressure ( resistance) but it is still being absorbed
and I would not call the little upthrust very significant.

What looks like absorption is much more so.

I expect it to still move higher
or if mkt throws in a reaction , that it will be well supported 
and a good buy point

I would not expect to see the bottom of the range again anytime soon

still.... That is only  what I am anticipating and positioning for..

Nothing certain 

After Absorption ? 

motorway


----------



## Sean K (12 October 2007)

Inverse H&S looks good for a probable $1.90 ish target to me. Good wind up between $1.45 spt and $1.50 resist....hmmmm


----------



## vishalt (12 October 2007)

Nice chart.. with BPT lagging yet large/mid-cap oil stocks rising it looks like an attractive buy. 

Might do it on my small/micro-caps trading account!


----------



## roland (12 October 2007)

I just love BPT, followed this since $1.20.

Fancy a small cap oil exploration company that is cash flow positive, pays dividends, is about #4 in Aus in oil reserves, has such an agressive exploration calendar, has such great partners and is sub $1.50.

Sounds like a no brainer to me


----------



## mime (15 October 2007)

Price spike and is up around 5% today. The other energy companies are up around 2%. Anyone know why other then the spike in the oil price?


----------



## Col Lector (21 October 2007)

Beach's Cooper Basin oil success rate to date, and large exploration holdings there are attracting corporate interest....in particular, Santos apparently shares Beach's enthusiasm for Cooper Basin and its  oil-productivity.....
Wisenthal (Fin Review p.13 Sat20-1/10/o7) reckons"there is speculation that...(Santo's)...first action to exploit its higher value scrip may be a *swoop on Beach*which is valued at $1.4 billion."
Under such a scenario one could anticipate a fair bit of interest in Beach share short-med.  Particularly given the high oil-price environment, *&* that its current sp ~1.55 is substantially below Comsec's recently released "base case" valuation of BPT of ~$ 1.90.


----------



## Col Lector (21 October 2007)

Approx 25% appreciation in current BPT sp reqd for Comsec "base case" valuation to be reached. This basecase was calculated prior to recent spike in oil price. 
Report also notes  that BPT's CSG projects are achieving significant production growth (ie,Tipton West) that has been largely overlooked to-date. 
Can expect that this additional CSG revenue & that expected from oil/gas projects(Cooper;B&M; etc) will be churned into even more exploration but then, why not, when you are hitting success ~75% of the time....?


----------



## Porper (26 October 2007)

roland said:


> I just love BPT, followed this since $1.20.
> 
> Fancy a small cap oil exploration company that is cash flow positive, pays dividends, is about #4 in Aus in oil reserves, has such an agressive exploration calendar, has such great partners and is sub $1.50.
> 
> Sounds like a no brainer to me




Well I will put an alternate view here.

Everybody is bullish BPT it seems, but with the ASX very strong, and oil surging up, BPT had a very weak day.There has not been any demand for this share for a few days now.Maybe a pause before the next leg higher, but the count I have has a possible good short proposition.

As usual there are various counts, but I like to be contrary nowadays, so I will stick with this one.

It's hard to imagine such a negative outcome but we could go all the way back to just over a dollar if this count is correct.You would think for that to happen oil needs to do an about turn pretty sharpish.


----------



## roland (26 October 2007)

Porper said:


> Well I will put an alternate view here.
> 
> Everybody is bullish BPT it seems, but with the ASX very strong, and oil surging up, BPT had a very weak day.There has not been any demand for this share for a few days now.Maybe a pause before the next leg higher, but the count I have has a possible good short proposition.
> 
> ...




Hi, I suppose that you read the STO announcement regarding Cooper, this would have rattled a lot of BPT holders since a reasonable amount of revenue originates from the STO/Cooper/BPT partnerships. BPT was quick to release some clarification of the minimal impact, but I think the impact is a little larger than they are willing to announce. BPT were quick to point out that their future explorations and technology involved would fill the void.

I think BPT will be flat for a while, maybe retract a little until some good news & PR. I am still confident of their capabilities and actually look forward to a pull back in SP so I can acquire a larger holding.


----------



## CanOz (26 October 2007)

roland said:


> Hi, I suppose that you read the STO announcement regarding Cooper, this would have rattled a lot of BPT holders since a reasonable amount of revenue originates from the STO/Cooper/BPT partnerships. BPT was quick to release some clarification of the minimal impact, but I think the impact is a little larger than they are willing to announce. BPT were quick to point out that their future explorations and technology involved would fill the void.
> 
> I think BPT will be flat for a while, maybe retract a little until some good news & PR. I am still confident of their capabilities and actually look forward to a pull back in SP so I can acquire a larger holding.




Love to see the Tradeguider chart...agree with Porper here, no demand, its just waiting to fall off the cliff....i've been waiting to short it too, but it just won't move. 

Cheers,


----------



## Col Lector (26 October 2007)

Beach is very bullish about its Cooper Basin future....I think this extract from todays ann. confirms this.....


> Mr Nelson said, “Beach has enjoyed a very strong success rate in the Cooper Basin,
> particularly through the use of 3D seismic technology to optimise drilling locations and to
> further identify opportunities within and surrounding several known producing oilfields.
> “This is particularly illustrated in Beach’s strong success rates in the eastern Bodalla
> ...


----------



## motorway (26 October 2007)

It is holding above the 50% level on the last move...
strong accumulation since march ( from approx 13th )

The last Bar to Me

Displays a clear lack of supply..

With offerings showing signs of drying UP

However BPT has been in a very active trading range
with many selling and buying at the wrong times....

( look at the 4% chart severe price manipulation.. The chart could have just stopped instead of moving sideways with ceiling and floor )

The most peculiar thing about P&F charts are that No matter the box size
The relationship of trend to reversal averages out at 45 degrees

As the chart become more condensed
rallies and reactions
are equally consolidated...
And large cycles become apparent

P&F charts leave anything You can think of
( in the line of 200 day moving averages etc )
in the dust For certain purposes..

( discussion for another day )


Bar chart
standard ( My  ) 2% 1 reversal chart
modified 4% 5 box reversal chart..

Watch the next bar very carefully

I hold..

Opinions  for  discussion

The best time to Buy BPT or ( nearly anything ) is at the bottom of panics
panics occur on all magnitudes
The P&F charts of all sizes
Have their own floors and ceilings..


motorway


----------



## Col Lector (27 October 2007)

CanOz said:


> Love to see the Tradeguider chart...agree with Porper here, no demand, its just waiting to fall off the cliff....i've been waiting to short it too, but it just won't move.
> 
> Cheers,




Can,Porper
 not sure I agree about there being no demand for BPT. Volumes have been rel strong over last couple of weeks but been very much two-way traffic.... 
IMO the market's sentiment towards BPT is overwhelmingly positive - on the back of drilling success, prodn& reserve growth, the high OP, Comsec Research valuation and large Ramelius Resources holding etc
This positive sentiment has enabled the sp to absorb some hefty negative news well. eg, B&M prodn delays,NZ dry well, ex-div purge this week, Santos negative media statements and a partial selldown by subst. holder (subprime related?ongoing?). Has had the effect of blunting the sp appreciation that was evident.....but also of capping falls. Stuck in a range whilst the positive& neg net out. But which way then?? Plenty of players waiting in the wings for this to shakeout I think. More than a few of these are likely to share/heed Comsec's Research enthusiastic assessment of BPT this month in which it noted it was being conservative in placing a "base case" valuation  of ~$1.90 on BPT. 
BPT's media release today, if more widely published, may also work to encourage  this bullish sentiment by publicisiing the success  BPT's racking up in the Cooper. 
I


----------



## Porper (27 October 2007)

motorway said:


> It is holding above the 50% level on the last move...
> strong accumulation since march ( from approx 13th )
> 
> The last Bar to Me
> ...




Interesting viewpoint motorway.

If you have time would you mind pointing out why you think there is a lack of supply ?

I am no expert in VSA and to me there was a clear lack of demand, happy to be corrected here.

I know yesterday that there was over 300,000 for sale all day at 1.50.Nobody seemed interested.

Oil up, also wall street so Monday should be an up day, will be interesting to see what happens.


----------



## Sean K (27 October 2007)

Porps, 

I think the STO Cooper Basin thing rubbed off on Beach yesty.

Still holding above some support. 

Having said that, _anything _ searching for O&G should be flying right now. I would display caution towards anything that is not. 

(holding BPT)


----------



## Porper (27 October 2007)

kennas said:


> Porps,
> 
> I think the STO Cooper Basin thing rubbed off on Beach yesty.
> 
> ...




Forgot to mention, that there is a good chance that the gap will get filled before the wave C down, that's if BPT can buck the trend and reverse downwards.

It is looking good for oil stocks though so caution before shorting.


----------



## rederob (27 October 2007)

BPT is a "stodgy" stock.
It will continue to be a very profitable company.
It will not be a market darling because it lacks the flair of an AED, the clout of WPL, or the enigma of an OSH.
I will buy more BPT at around $1.25 on next selling flurry (should there be one).
Energy-based equities are in my sights.
My suspicion is that this time next year many who have been active traders will wonder why they did not also have an accumulation strategy on what I regard as a "blind freddy" factor.


----------



## motorway (27 October 2007)

Porper said:


> Forgot to mention, that there is a good chance that the gap will get filled before the wave C down, that's if BPT can buck the trend and reverse downwards.
> 
> It is looking good for oil stocks though so caution before shorting.




There is a bit to write about

here is a start with some quotes from Wyckoff



> Not all of the manipulators' moves can be detected. Not all of the
> moves are made by manipulators. In fact it does not matter to the
> tape reader or the chart reader whether the moves are real or
> artificial; that is, the result of actual buying and selling by the
> ...




This is what trading ranges that are seen on P&F charts signify-
Manipulation ( as do trends too )

A P&F chart made from a roulette wheel will not have the same behavior

manipulation is the opposite of random
OK 



> If a stock is below value, and these interests see a large profit
> ahead, they will take all they can buy at certain levels, then
> gradually raise their bid prices until they get all they want. They
> buy preferably on reactions until such time as they are ready to
> ...




Support and resistance and the relative strength of the reactions here atm
esp are very indicative...


Now to Your lack of demand Which can be a serious indication of weakness




> There are exceptions to the above indications, however. Thus a
> small volume and narrowing into small price movement after a rise
> may mean that the stock is resting and digesting its previous gains,
> instead of reacting, prior to a further advance. Therefore, in
> ...




So at the top of this range ?



> Then they will withdraw their orders and let
> the stock sag and turn dull in order to deceive the public into
> thinking there is no further interest in it.




So at this stage the 
relative strength of the current selling wave
( The depth of retracement, duration speed, and Volume )
Is critical

Have all the new shares issued gone to strong hands ?
Is there any more stock to be obtained by letting the stock sag ?

A final point
Wyckoff was very impressed that smart operators in business made such poor speculators on the mkt

A Business owned by a weak hand ( in debt , cash flow problems needing to sell ) Might be only able to be sold for .10 in the 1$

HAS soon as it did...and was then held by a strong hand ( eg Warren Buffet )
It would immediately be worth par or even above...

This principle is central to Wyckoff's method

weak and strong hands

Always people put themselves in the position  of running out of time and money
In Wyckoff's words..individuals, nations and the whole world.
 esp in endeavors of speculation
at such times strong hands make huge fortunes

Large placements distort the technical position by producing artificial imbalances
same entry price same entry time etc

shareholder structure loses resiliency and ..

opportunities arise and unfold from that fact..

P&F charts are not forced to move with the passing of time
Bar charts and P&F charts are two types of chart ( there is a third as well )
That are tools to analyze buying and selling waves....

It is thinking in waves that makes the real difference


motorway


----------



## motorway (27 October 2007)

So I am looking for support ( Buying pressure ) to hold above the 50% level

I am encouraged by the pattern on the P&F 2% chart
The last zone of such absorption ( a cause ) led to a commensurate vertical movement ( the effect )

I am looking for a major last point of support
To confirm the last rally ( That did not have any horizontal zone at the bottom of it, important )
to have been  a major sign of strength...

If all the shares are in strong hands

then



> Jump the creek



of supply

Then  markup

as in the analogy
the .10 become a $1 ( Don't need volume much then )

( Though BPT is not that undervalued...Not as much as it was at a $1 when the volume price behavior showed clear panic )

In a good spirit   in Wyckoff sense EW is bunk ( and most else )
It does not matter if wave 2 goes below wave 1 etc
all that matters is is there accumulation !
If it is in someones interest for EW or anything else to work
then it will or it wont
what ever aids the accumulation..

EW would never stop a strong hand buying at .10 in the $1, from a weak hand

and neither should it You...

All markets are manipulated by everybody

 So many insist on buying high and selling low
  ( and worse turn themselves into weak hands while they do it 
.. becoming short of time and money and options)

motorway


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## Col Lector (27 October 2007)

rederob said:


> BPT is a "stodgy" stock.
> It will continue to be a very profitable company.
> It will not be a market darling because it lacks the flair of an AED, the clout of WPL, or the enigma of an OSH.
> I will buy more BPT at around $1.25 on next selling flurry (should there be one).
> ...




The "stodgy" nature of BPT can be attributed in part to the understated way they go about things and publicise achievements. Contrast the ARQ/EGO/EMR/FAR etc PR circus over the Canning Basin Valentine (dry)well and BPT's quiet mention that it had actually found 5 million barrels at its 75% Cooper Callawonga field rather than the 1 mill it was targetting.
This under-promotion applies also to Tipton West and its other Coal-seam assets. Production growth is reported as strong and is expected to contribute significantly to 08 & 09 rev/profit. IMO this has not been fully appreciated, nor factored in. Current June 2007 Surat Basin CSG 2P reserves of 69PJ (11.9mmboe)
From the BPT Good Oil Pres  Sept07........
BPT CSG goals...


> Realise value for Coal Seam Gas assets with
> ~800 PJ Possible Reserves
> – (pure CSG companies are reflecting on
> average $0.54 per GJ … applied to BPT would
> imply additional ~$400 million potential value)


----------



## Col Lector (27 October 2007)

Motorway, have noticed the "manipulation" you refer to. Typically large parcels 100k to 700k placed  a couple of cents either side of the trading price. And it works to stifle confidence in the stock, or also the reverse.
Is this? 
a.a natural clash of the BPT bears/bulls...particularly in response to an ongoing flow of both positive & negative news such as drillwell reults
b.Institutional buying/offloading (eg, Citicorp Noms increased from 23.8 to 77.6mill shares over 12mnths to Oct07(3.69 to 8.75%); ANZ reduced from 94.7mill (14.98% to 52.3mill(5.9%); amongst other examples.
c.Collusive big number short-term trading by ....?
d. Active manipulation of market sentiment for BPT  by placing sentiment-sapping parcels on the sell-side to "cap" the price to allow active accumulation at a moderate price. 

This cap was broken briefly as sellers were taken out in the recent "spike" up to $1.60 before the sellers returned enmasse. BPT bulls, bemused, have briefly stepped to the sideline seeking reassurance. A postponement of "demand".
It's interesting that the week after Wiesenthal in AFR flagged that Santos could well utilise its new-found scrip freedom to make a play for Beach, that Santos releases anns that effectively work to rubbish Beach's evident success in the Cooper Basin....and quash some of the investor enthusiasm that was building for BPT in recognition of this
Pure speculation of course...


----------



## Stan 101 (29 October 2007)

I have just glanced through the Beach report card released this evening. The thing that initially stood out to me was the amount of partnerships Beach is a part of.
Is it possible to run an effective business whilst having to continually compromise and negotiate with other business entities?

I haven't looked into this in depth, just a passing thought, really.

It does look like a tick in every box. I'd really like a return of capital to the shareholders on this one as a way to thank for the faith... I own to many shares that are just not returning at the moment...I need a cashflow...



cheers,


----------



## rederob (29 October 2007)

Stan 101 said:


> I have just glanced through the Beach report card released this evening. The thing that initially stood out to me was the amount of partnerships Beach is a part of.
> Is it possible to run an effective business whilst having to continually compromise and negotiate with other business entities?
> 
> I haven't looked into this in depth, just a passing thought, really.
> ...



Most oil companies spread the risk.
You will have to tell me which (producing) oil company does not, apart from those that are "state owned" such as the Saudi's.
Usually I see company drilling announcements with an "operator" and at least 2 other joint venturers.
Much better to have a few percent of something than 100% of nothing!


----------



## roland (29 October 2007)

rederob said:


> Most oil companies spread the risk.
> You will have to tell me which (producing) oil company does not, apart from those that are "state owned" such as the Saudi's.
> Usually I see company drilling announcements with an "operator" and at least 2 other joint venturers.
> Much better to have a few percent of something than 100% of nothing!




Well said rederob,

My (now deceased) brother inlaw was an oil exploration geologist, and we had many discussions over a beer and the BBQ.

Finding oil is a very difficult thing, let alone costly. The biggest winners in a lot of cases are the support companies, such as machinery and rig suppliers and manufacturers. Look at the costs of leasing a drilling rig. If you are into oil, then you should also be into companies like EHL, BLY for example.

Even the best oil exploration companies become great gas suppliers. Gas is a very poor second to finding oil - at least it pays the bills. Look at OSH - huge gas reserves.

The more "farm ins" you get in a prospective area, the more you can feel confident that the target area may have some pays. Be suspicious if you have an oil prospector that has no farm in partners - the "go it aloners" generally have a tenement that no one is intererested in, or they are big enough that they need no partners to spread the risk. Even Santos secumb to "farm ins"

Without any data to support this commment, I would say that 90% of oil drilling operations end up with no pay, some will end up with gas, most will be abandoned.  In my opinion, treat all oilers without oil as very speculative, without high profile "farm in" partners as even more speculative. Oilers with oil flowing and paying bills should be treated with awe and admiration.


----------



## Stan 101 (29 October 2007)

Thanks lads... I am just getting into oil now and I do see your points. Nice point about the drill rig leasing... I was actually looking down that path..


cheers,


----------



## nomore4s (31 October 2007)

MW and others.

Have attached a chart of BPT with a jump across the creeks, sos & lps marked. I'm seeing some strength in the chart atm with it looking to finally break out of the smaller trading range marked, commencing what could be a mark up phase. I would be looking for this last point of support to hold around this 50% area of the last rally to confirm the last SOS.
I only just picked up on this tonight even though I have reviewed this chart many times before, some of the study must be paying off.

Any feed back appreciated. Discussion only I don't hold.


----------



## motorway (31 October 2007)

The most significant thing on the chart at the moment
IS the current tight range holding above that 50% level

remember there are minor and major creeks

I anticipate that from this tight range
( What forces are at play keeping the stock here ? There is certainly volume !
( More importantly what force is being generated ? )

That BPT will Jump and a markup will ensue

The penetration on your chart of the support lines at the bottom
I would classify as a TERMINAL SHAKEOUT..

That suggests We are close to the Right Hand Side..

It looks a very good setup

Just an opinion

All the measuring tools give very powerful indications
because You are measuring Supply and Demand

The relative strength of the current reaction back
I see as very positive
very suggestive of there being some eagerness to absorb any offerings from those who might  be 
fearful of BPT falling back to the bottom of the range..

( why be fearful .. shakeout action should have allayed a lot of fears ? )

The last series of bars most have poor closes
BUT price does not go down
what is supporting the price ?

The low of every bar is where demand overcame Supply
The high of every bar is where supply overcame demand

How did these things happen

My view is that at the top of those bars It was demand that tried to allow the price to sag..

As long as the 50% continues to be strong support though We can be sure that what appears as weakness is really strength...

here is a P&F 

To put with Your bar chart

We could get a strong move up from this congestion
BPT is starting to work out it's counts

may it continue 

pure chart orientated opinion
for discussion 

always manage risk
so that what is mistaken is only a learning experience

nothing is ever certain

When P&F charts start climbing the stairs ?

motorway


----------



## Porper (31 October 2007)

nomore4s said:


> MW and others.
> 
> Have attached a chart of BPT with a jump across the creeks, sos & lps marked. I'm seeing some strength in the chart atm with it looking to finally break out of the smaller trading range marked, commencing what could be a mark up phase. I would be looking for this last point of support to hold around this 50% area of the last rally to confirm the last SOS.
> I only just picked up on this tonight even though I have reviewed this chart many times before, some of the study must be paying off.
> ...




Well I still disagree with the bullish outlook.The crunch will come when oil retreats and the markets correct slightly.

If the bullish scenario is to come out then I would expect BPT to hold strong in the above situation.Buyers coming in to say thanks very much to all the sellers.

I don't think it will happen.


----------



## roland (31 October 2007)

From a non-chart perpective, doesn't having sat here at $1.47 -$1.50 for such a long time indicate a consolidation point? The charts are a good tool and I should learn to use them one day - but they cannot predict news releases.


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## motorway (31 October 2007)

Yes any move down should be revealing

overall I am bullish and probably looking on a slightly larger time frame

So if it does not move up from here .. it could make a deeper correction of the whole move up from the shakeout....

BPT has been opening up and closing lower
Today might give some useful indications

motorway


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## profithunter (1 November 2007)

Great day for beach with a strong move through 150, if it moves through 160 we should see 190 pretty quickly


----------



## roland (1 November 2007)

profithunter said:


> Great day for beach with a strong move through 150, if it moves through 160 we should see 190 pretty quickly




Wahhh, that would be nice. You know I have 3 packets of shares and I was going to offload my top at $1.55 at pre-close, but I pulled it at the last moment as I have a gut feeling that selling right now isn't the best thing to do. I am happily in profit with all my packets.


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## Porper (2 November 2007)

profithunter said:


> Great day for beach with a strong move through 150, if it moves through 160 we should see 190 pretty quickly




As motorway says the closes have mostly been well off the highs, although yesterday was a good day.

But let's face it, I could have set up an oil company yesterday and it would have taken off with oil at nearly $100 a barrel and the market in silly mode.

Anyway more seriously, the gap I mentioned has been filled so we can now correct without that pull to fill that gap.If indeed it is going to correct to the downside.


----------



## Nick Radge (2 November 2007)

Yesterdays rise has now filled the gap and completed the possible right shoulder as per the chart above. Dow -362 o/night. The question is how the stocks reacts at the support or neckline level.


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## roland (9 November 2007)

Hi, does anyone know why Beach is being punished today? Down 6.5 cents, mostly in the last half hour


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## Nick Radge (13 November 2007)

We're not too far from that Head & Shoulders target at $1.30 now. Friday was an important day...




_This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision._


----------



## Porper (13 November 2007)

Nick Radge said:


> We're not too far from that Head & Shoulders target at $1.30 now. Friday was an important day...




Well my count is totally different to Nicks (so probably wrong), but the targets are similar.

No reason to change my view from my chart 3 weeks ago.$1.23 min target looks possible still.The daily and weekly are in the oversold zone now, so when a bullish reversal occurs, it will be time to go long.Should be in the next few days.


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## Nick Radge (22 November 2007)

We hit $1.305 today. Take a look at my chart above (#288) and then the price action since. EW doesn't get any better than that. 

I would say this is it for the moment because there is now  one of my favorite patterns showing itself. Its been a 5-wave pattern down so any advance from here would be deemed a bounce only.



_This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision._


----------



## roland (22 November 2007)

Nick Radge said:


> We hit $1.305 today. Take a look at my chart above (#288) and then the price action since. EW doesn't get any better than that.
> 
> I would say this is it for the moment because there is now  one of my favorite patterns showing itself. Its been a 5-wave pattern down so any advance from here would be deemed a bounce only.
> 
> ...


----------



## Porper (22 November 2007)

roland;226922

Charting is a cool thing said:
			
		

> It does look nice on the charts, but volume today was low.Look at the bar yeterday, a gap higher, probed up and closed on the lows with much higher volume.
> 
> I was half getting interested, but i think the jury is out for the moment.Certainly plenty of sellers around.


----------



## Nick Radge (22 November 2007)

No disagreement from me that fundamentals will be the ultimate decider in the fate of the stock. 

However, we just seen an 18% decline off the highs. If one was bullish the stock and technical evidence suggested that there was a reasonable probability of buying the stock 18% cheaper, then it makes sense to use the technicals.


----------



## Porper (22 November 2007)

roland said:


> Charting is a cool thing, but are we not factoring in the fact that Basker production has been restored? We also have the "green" grants for Petratherm and Cool Energy offered from the Coalition - I can't see Rudd scrubbing his nose at the potential here.




It does look nice on the charts, but volume today was low.Look at the bar yeterday, a gap higher, probed up and closed on the lows with much higher volume.

I was half getting interested, but i think the jury is out for the moment.Certainly plenty of sellers around.


----------



## motorway (22 November 2007)

motorway said:


> Yes any move down should be revealing
> 
> overall I am bullish and probably looking on a slightly larger time frame
> 
> ...





On that slightly larger time frame ( really degree of magnitude )

BPT has worked itself into a primary buy point (imo)

That is not to say it will not head slightly lower
But to take advantage of a favorable position

For My purposes that means 
buying when  the stock is moving in the wrong direction

Today I see as a sign of strength
It was a spring with slightly more penetration of support than would be desirable.........But  little volume came out on the way down and much more that chased the price back up...

We are at a major 50% level ( as distinct form the minor halfway points on nomore4 's chart that were overrun. P&F is good at identifying corresponding degrees of  magnitudes of rally and reaction.. The stock would have had to move "NOW" ie show a readiness to move that did not manifest... The last stepping stone on the P&F was negated , in order for those halfway points to become major.... ie BPT was at resistance and not support)

I still anticipate ( with a stronger degree of conviction ) that the level of the shakeout ( I designated as terminal ) will not be tested..

But each to their own

and When We are wrong that is what stop losses are for...

DYOR



motorway


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## roland (22 November 2007)

Porper said:


> It does look nice on the charts, but volume today was low.Look at the bar yeterday, a gap higher, probed up and closed on the lows with much higher volume.
> 
> I was half getting interested, but i think the jury is out for the moment.Certainly plenty of sellers around.





Does comparing BPT's chart with the Index show anything above general market sentiment. I haven't learnt much about charts but would guess if a particular stock is in sync with the Index, then it would be hard to read the BPT component of activity. I see NXS as a pretty good peer comparitive stock, and it got sold off pretty heavily today, I think the same would have happened with AWE - but a good news release rescued them, as did the news release with BPT


----------



## roland (22 November 2007)

motorway said:


> On that slightly larger time frame ( really degree of magnitude )
> 
> BPT has worked itself into a primary buy point (imo)
> 
> ...




Hi, I am still a little confused about relying on charting data - since the upward move today was due to good news. I am wondering how a change in circumstances can be factored in historical charting?


----------



## motorway (22 November 2007)

> I was half getting interested, but i think the jury is out for the moment.Certainly plenty of sellers around.




Is it better to buy while there are plenty of sellers around
or wait till there are not  enough ?



Here touches on the difference between anti caption and prediction
Which again is the difference  between position and trend...

And is also the difference between support and resistance ..



roland such ( relative strength ) analysis as you suggest is very important



motorway


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## motorway (22 November 2007)

roland said:


> Hi, I am still a little confused about relying on charting data - since the upward move today was due to good news. I am wondering how a change in circumstances can be factored in historical charting?




It is the current action in the context of the large trading range BPT as be in

Charting can mean different things to different people..

The large trading range in BPT... does not happen by accident.

motorway


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## roland (22 November 2007)

motorway said:


> It is the current action in the context of the large trading range BPT as be in
> 
> Charting can mean different things to different people..
> 
> ...




so, if I were to look at the chart data, low volume with a downward trend - possibly to $1.20 it would look like a sell (or at a minimum, a hold). 

If I were to look at the emotion from watching it everyday - then I would say, today's news of Basker coming back online, oil prices at a record high, possible Govt grants, Comsec 12 month target of around $2.00, I would see BPT as a strong buy.

This is why I am confused about the charting perspective. Maybe the emotional side is only good for long term ????


----------



## motorway (23 November 2007)

Porper said:


> It does look nice on the charts, but volume today was low.Look at the bar yeterday, a gap higher, probed up and closed on the lows with much higher volume.
> 
> I was half getting interested, but i think the jury is out for the moment.Certainly plenty of sellers around.




On relative strength........Porper has marked two bars on his chart..

In the context of what the market was doing on those days

does that change the "appearance" ?

We will find out when the market turns up 

motorway


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## tybutler (27 November 2007)

Might be of interest for Beach holders...

Beach discovers oil in Cooper Basin

27/11/2007 4:01pm 	

Oil producer Beach Petroleum has made a new oil discovery near the company's Callawonga field on the western flank of the Cooper Basin in South Australia.

Beach said the newly discovered Parson's field is likely to contain more than one million barrels of recoverable oil.

The company said the reservoir quality at the Parsons-1 discovery could be better than the Callawonga field, where recent wells have flowed at 5,000 barrels of oil per day.

Beach said the new Parson's discovery lies nine kilometres north west and eight kilometres southwest of the oil producing facilities at Christies and Callawonga.


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## profithunter (27 November 2007)

A new oil discovery and the stock did nothing!?!

I have a new name for beach...B!atch Petroleum, this stock better run tomorrow when we are up 50 points


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## The Mint Man (27 November 2007)

profithunter said:


> A new oil discovery and the stock did nothing!?!
> 
> I have a new name for beach...B!atch Petroleum, this stock better run tomorrow when we are up 50 points



I have had my eye on this one for a while... I watched it go from about $1.40 to $1.57 or there abouts then all the way back to where it is now.

I have to agree with you Profithunter, you would think that news like this would send it sky wards but no.
Surely there is a reason for this? its not like the market didn't have time to react, it was released just after 1pm this arvo.

Cheers


----------



## justjohn (27 November 2007)

The Mint Man said:


> I have had my eye on this one for a while... I watched it go from about $1.40 to $1.57 or there abouts then all the way back to where it is now.
> 
> I have to agree with you Profithunter, you would think that news like this would send it sky wards but no.
> Surely there is a reason for this? its not like the market didn't have time to react, it was released just after 1pm this arvo.
> ...




It should run tomorrow hopefully ,so a tip Mint get rid of those WOOF...WOOF ... STOCKS   VPE BDG OSH.........and get on to this:remybussi 299 posts


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## The Mint Man (27 November 2007)

justjohn said:


> It should run tomorrow hopefully ,so a tip Mint get rid of those WOOF...WOOF ... STOCKS   VPE BDG OSH.........and get on to this:remybussi 299 posts




Why run tomorrow when it could have ran up today? 
As for OSH, its a great oil stock and one that would be considered a take over target hence its current price. No regrets on OSH thats for sure, more than you can say for ccv,fun, ccp, rex, mcp, sfh, rat I'd say. hehe

Cheers


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## roland (27 November 2007)

I didn't understand the lack of interest today either. My only guess is ... if you look at most of the announcements of finds, they generally are capped as a "future" oil producer. 

I suppose it's all well and good drilling a hole in the dirt and finding some oil shows, but you still have to pump it out, barrell it, and get it somewhere to sell it. It's not much good for shareholders to have it stuck in the ground with a red tag lacky banded to a stump of a capped piece of steel pipe poking out of the dust.


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## Col Lector (27 November 2007)

Roland... the lack of interest continues to confound. I put it down to an ongoing sell-down by a large holder. A check of the register may reveal more.
The release below is very positive...anticipating Parson's to be better than Callawonga, and a "near-future" oil producer that will tie in beautifully with the Callawonga pipeline under construction. 
COE is similarly not reflecting the significance of this find as yet.
The market will catch on sooner or later....be prepared.




> Beach strikes new oil in Cooper
> Article from Adelaide Advertiser
> CAMERON ENGLAND
> November 27, 2007 02:30pm
> ...


----------



## The Mint Man (27 November 2007)

roland said:


> I didn't understand the lack of interest today either. My only guess is ... if you look at most of the announcements of finds, they generally are capped as a "future" oil producer.
> 
> I suppose it's all well and good drilling a hole in the dirt and finding some oil shows, but you still have to pump it out, barrell it, and get it somewhere to sell it. It's not much good for shareholders to have it stuck in the ground with a red tag lacky banded to a stump of a capped piece of steel pipe poking out of the dust.




I sort of agree with what you say but most the time these sort of things will be priced into a stock no matter when they will actually earn $$$ from it.


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## Col Lector (27 November 2007)

Col Lector said:


> Roland... the lack of interest continues to confound. I put it down to an ongoing sell-down by a large holder. A check of the register may reveal more..............




20 largest as at October 2 2007:


> 1 Citicorp Nominees Pty Limited 77,624,986 8.75
> 2 HSBC Custody Nominees
> (Australia) Limited 53,107,603 5.99
> 3 ANZ Nominees Limited 52,388,260 5.90
> ...




Be interesting to get hands on a up to date register. I note a few holders that may be suffering some sub-prime related squeezing. Could help explain the capping of sp gains despite the continued flow of good news.

It should also be remembered that the Basker-Manta-gummy production problems were fully insured for...and therefore this cant be considered a big factor in the non-performance.


----------



## roland (29 November 2007)

Well, what a great Chairman's address from Beach. I am almost teary eyed. What made it even better was that I had the BPT chart in view as I read all 76 pages, and every 15 pages or so the chart notched up half a cent.

Either I am easily impressed or that was one hell of a briefing.


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## Nick Radge (1 December 2007)

Good move yesterday. I'm happily long at a good price. Not sure that we'll see new highs just yet though. Now the fundamentals can do as they wish...


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## nomore4s (1 December 2007)

I also took a position in BPT this week after the spring last week held, will be looking to pyramid at some stage if the opp presents as I couldn't get a big enough position with where I placed the stop on the current trade.


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## Aussiejeff (5 December 2007)

This cutting from BPT's post close announcement today looks to be VERY positive....

-----------------------------

_Beach Petroleum Limited Weekly Drilling Report
Week ending 5 December 2007

Beach Cooper/Eromanga Oil – *NEW OIL FIELD AT PARSONS-1*

*Parsons-1 (Beach 75%) has flowed at 3362 barrels of oil per day* through a 2” line from the Namur Sandstone. The well is now cased and completed as a future oil producer. Production is expected to commence in the second quarter of 2008. Wireline logging and pressure testing confirmed the presence of a 12m gross oil column in Parsons-1. Beach assesses the recoverable oil reserves in the Parsons Field to be:

p90 (Proved) 1.4 million barrels
p50 (Proved & Probable) 1.9 million barrels
p10 (Proved, Probable & Possible) 2.6 million barrels_

-------------------------------

At the p90 level, 1.4 million barrels is significantly more than their previously stated estimate of 1 million barrels.  Given they were to get ~$AU90 per barrel, BPT's share (1.05million barrels) would equate to ~ $AU95million! 

Read the full article here:
http://imagesignal.comsec.com.au/asxdata/20071205/pdf/00792161.pdf

AJ


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## motorway (5 December 2007)

Some P&F


BPT atm has stopped performing...........On the downside 

prev .....It was noted BPT has been in a trading range

The P&F chart helps reveal ( changes in behavior ) by the changing  relationship between 
The Horizontal to the vertical movement
+ the change in speed of movement + the tightness or looseness of patterns
+ etc etc etc  

the last zone at the top of the trading range ( unlike all the others )
did not lead to a move back down to the bottom of the range ( even though it was largish )  So what happened up there this time ? ( question of distribution Vs accumulation )..

Support has appeared higher up
and atm  it does look a nice pattern to move up higher from...
 BPT is performing to the upside 

ATM  

motorway


----------



## ithatheekret (5 December 2007)

I remember when this stock got punished for trying to drill off the W.A. coast back in the 70's and 80's . All the exploration they have put in certainly seems to have paid off for them as a company . It's rebounded a long way since those days of halfpenny stock , so too it's kissing cousin Stuart Petroleum .

Both are on my target list for predators, but I actually think an Aussie Co will go after them .


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## Aussiejeff (7 December 2007)

http://imagesignal.comsec.com.au/asxdata/20071206/pdf/00792472.pdf

Another successful well (future oil producer) with a new spud starting nearby - continuing the recent run of good news for BPT.



AJ

*Disclaimer - I hold BPT - do your own research!*


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## motorway (14 December 2007)

Stopped and looked and listened
(P&F )


Upthrust.......But at this stage not after distribution ( bar )

Two valid trend channels

minor halfway point in play now ( not marked )
There was absorption here

Some overhead resistance but how near ? ( time decay , not position )

motorway


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## white_goodman (14 December 2007)

motorway said:


> Stopped and looked and listened
> (P&F )
> 
> 
> ...





for us uneducated could u put that in laymans terms... you saying theres gonna continue to be an upthrust?


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## motorway (14 December 2007)

white_goodman said:


> for us uneducated could u put that in laymans terms... you saying theres gonna continue to be an upthrust?




Hello White,  For the uneducated I suggest ..some education 

The last bar on the bar chart is the upthrust
it is a sign of weakness...The bar itself is a sign of distribution

However I am saying it is a logical place..For some profit taking and for some adjustment to the dynamics ..

I am suggesting it is not an upthrust after distribution ..That would be a signal for a move down ...

I am suggesting one of the two trend channels is effective

I am looking for price to consolidate here and move to the top of the red channel..or to move down in the vicinity of the halfway point marked and move back to the top of the green channel

DYOR 

See the accumulation/ distribution zones on the P&F ?
what is following through ?

measuring up

There is of course more that could be said about
what these charts are revealing about supply and demand

motorway


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## white_goodman (14 December 2007)

motorway said:


> Hello White,  For the uneducated I suggest ..some education
> 
> The last bar on the bar chart is the upthrust
> it is a sign of weakness...The bar itself is a sign of distribution
> ...




im educated but i do property mainly , im just delving into shares......still dont entirely understand but i get the gist of it..im gonna sell out soon neways buy up some more NMS


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## motorway (16 December 2007)

> See the accumulation/ distribution zones on the P&F ?
> what is following through ?




 Some P&F studies
box size is .025 ( it is a meaningful size here ) ( so would .05 )

5  box reversal is a condensed chart.. showing the large scale perspective
clear tops displayed for example. Captures the whole trading range..

3 box reversal is an intermediate chart 
 pushing through resistance/support

1 box reversal is the immediate trend




> I am suggesting it is not an upthrust after distribution ..That would be a signal for a move down





To be a little clearer here... BPT can move down as in a reaction back to support... Or it can move down top heavy from distribution without support.. In a down trend..

The trading range goes back to early 2006



> I am suggesting it is not an upthrust after distribution




So I am looking for the next buy point

motorway


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## Fab (29 February 2008)

Looks like an outstanding result annouced today :
"Beach grew after tax earnings 148% for the six months to 31 December 2007 to
$58.8 million compared to $23.7 million in the corresponding 2006/2007 half-year"

BPT price has not risen so ? Strange to me this should have put a rocket under it in normal time


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## vishalt (29 February 2008)

I bought @ $1.44. 

Operating for decades, resurgance and having 90 million barrels of oil in reserve at these prices is exceptional for a small cap imo. 

I think beach will grow slowly and steadily, be patient lads .


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## oldblue (1 March 2008)

Fab said:


> Looks like an outstanding result annouced today :
> "Beach grew after tax earnings 148% for the six months to 31 December 2007 to
> $58.8 million compared to $23.7 million in the corresponding 2006/2007 half-year"
> 
> BPT price has not risen so ? Strange to me this should have put a rocket under it in normal time




I think this result needs a fair bit of analysing before we get too enthusiastic.

I havn't had time to do this properly but the first thing that stands out is the sale of a further 10% of the BMG project as at 31 December for $123m, achieving a profit of $64m. Both these figures are included in the result. There are other complications including accounting changes and hedging adjustments which need some quiet thought and analysis.
Despite this, "normalised profit" has improved. Production was down 2%.

Company hasn't explained the rationale for selling down BMG. I can only guess that the price offered was too good to refuse, or that BPT have an urgent need for the $123m  cash.


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## urgalzmine (9 March 2008)

oldblue said:


> I think this result needs a fair bit of analysing before we get too enthusiastic.
> 
> I havn't had time to do this properly but the first thing that stands out is the sale of a further 10% of the BMG project as at 31 December for $123m, achieving a profit of $64m. Both these figures are included in the result. There are other complications including accounting changes and hedging adjustments which need some quiet thought and analysis.
> Despite this, "normalised profit" has improved. Production was down 2%.
> ...





I think this stock is the quite achiever. The own 50% of Basker-manta-gummy(BMG). Beach and Anzon Australia(AZA) are partners in these fields.  They sold 10% of this for $123 million.
The reserve for this BMG is $1.2 billion and still retain 40% of it. 

The reason why their sp has been so bad was that they were a victim of fraud. They know have a solid management team(created in 2002) whcih has seen their sp rise from 30cents in 2004 to a steady rise to what it is now.

The have three major Proven reserves:

surat basin                         12mmboe
S.A. Cooper/Eromanga 	     62 mmboe
Gippsland Basin 	          15 mmboe
Tota                                 89 mmboe

they also own %13 of RMS( not excatly sure why)

They are also into gas, own 40% in Tipton west coal seam gas in Dalby QLD.  It is 45kms away from  Braemar power station.

This year 2008, they will build three more oil wells in BMG which means they will have 200 wells in 2008, 50 more than that they had last year. 

They have sold 2.4mmboe of oil and in the next 2-3yrs look to sell 12 mmboe.

However it looks like their strategy is to move from oil to gas. Purchasing 40%    in qld and looking in spain for gas. I dont think their has been a  major find for oil for a bloody long time. 

I do have BPT shares, i think they have great potential, this is my


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## oldblue (9 March 2008)

I wasn't aware of any fraud but I guess in any case that's history now.
I bought a small parcel of BPT last year, mainly attracted by their diverse o&g interests. Still like their prospects, but for the record, their interest in BMG is now down to 30%. (Sold 2 lots of 10% in the last 6 months or so.)


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## stargazer (11 March 2008)

Hi all

Just startiing to wonder how the hell do you make money with oil producers.  I mean sheesh i bought BPT about a year ago.  The price of oil is at record levels and the share price for BPT goes backwards.  WHY?

Cheers
SG


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## urgalzmine (11 March 2008)

stargazer said:


> Hi all
> 
> Just startiing to wonder how the hell do you make money with oil producers.  I mean sheesh i bought BPT about a year ago.  The price of oil is at record levels and the share price for BPT goes backwards.  WHY?
> 
> ...




I think u need to be patient my friend. BPT is the 4th or 5th largest oil producer. The weak US dollar is killing the profits when companies sell off shore, the US economy not doing so well and analysts have advised that demand of oil would reduce. 

Blue chip stocks such as CTX look more attractive than small caps at this stage. I mean BPT PE ratio is about 10 where CTX is 5-6 and CTX is the largest refinery in AUstralia. I think investors are looking for other bargains out there.

or maybe i am talking outta my ass


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## oldblue (11 March 2008)

The USD affects oil companies whether they sell offshore or locally. Oil prices are all related to the world price which is set in USD.
Mind you, it could be argued that if the USD was stronger, the price of oil would be lower in USD terms so oil companies would end up with a similar amount in local currency terms. Depending on tha actual AUD/USD exchange rate, of course.


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## 56gsa (2 April 2008)

now for those adventurous investors, i'm sure this is going to make you rush out and buy a parcel of bpt...

i'm definitely in...



> 31 March 2008
> Dear Shareholder,
> At our 2007 Annual General Meeting in November 2007, we advised shareholders that Beach Petroleum would be offering a unique opportunity to travel to some of Beach Petroleum’s remote operations in South Australia.
> We will be offering this trip to 6 lucky shareholders for travel in September 2008.
> ...


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## vishalt (2 April 2008)

Yeah I entered the draw haha. 

Good of a company to show shareholders its operations, even offering it gives me proof that they're transparent and happy to show what they actually do.

ps what a LOUSY dividend, .75 cents!?!? I have never heard of such thing, I told them to reinvest it instead of paying out for a dog's breakfast.


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## mime (5 May 2008)

Nice 10% jump today. Hopefully it's catch up to others in the energy sector who have stormed while BPT has been pretty mediocre.


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## vishalt (5 May 2008)

Yeah good on Beach. 

It just doesn't have sentiment at the moment for some reason despite good oil reserves, sound management and its been capitalising by selling the oil at high prices. 

Good sign today by Matthew Securities or whatever buying 7% into the company!


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## mime (5 May 2008)

Hmmm I've been waiting patently for this stock to explode. Hope it gets in favor with a large hedge fund or private equity.


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## vishalt (6 May 2008)

It's a pretty good takeover target I think, just have to be patient .

Small caps tend to behave awkwardly and slowly at times but this one has quite solid fundamentals.


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## mime (6 May 2008)

?? An announcement of outstanding results today and the stock falls while the rest of the energy rises. Buy on a rumor sell on the fact?


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## roland (6 May 2008)

mime said:


> ?? An announcement of outstanding results today and the stock falls while the rest of the energy rises. Buy on a rumor sell on the fact?




Yes, BPT is an odd one. I have been looking for an entry point on some strength, but any signs of strength get wacked by a ton of sellers killing any SP rise.

Also since the dividend yield sucks, one would be looking for a short term gain and not get stuck with a doggy stock. NXS may be a better choice for a small oiler ?


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## vishalt (6 May 2008)

Nexus has falling profits though. Beach is solid, you'd better be off owning both since small caps are pretty puzzling!


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## roland (6 May 2008)

vishalt said:


> Nexus has falling profits though. Beach is solid, you'd better be off owning both since small caps are pretty puzzling!




Yeah, you are probably right - I feel that there is a certain amount of allure to get into Oil, but preferring day/short term trading I am finding a lot more milage from  faster moving and more volatile stocks such as some of the financials (BNB, BBW, BBP, ANZ, WBC). 

I wonder why you would currently consider BPT with a possible 0.03 movement a week, when you can get that in a day from the likes of ADY, BBP and many others.


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## vishalt (7 May 2008)

Well again, Beach has proven reserves, more proven and stable than the rest of the small oil producers. 

And I've learnt that its time in the market, not timing the market. Beach just hasn't attracted enough fund manager attention yet but I'm sure it will and it might even be a takeover target. 

It used to be 73c a year ago, besides .

http://www.beachpetroleum.com.au/files/reports/BPT_08April_CBA.pdf - Here is a nice recent report that I tend to agree with CommSec.


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## vishalt (17 May 2008)

Well Beach just gained "exclusive" exploration rights in Tanzania. 

Hope they make the oil-discovery of the millennium eh.


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## pointr (19 May 2008)

I note that BPT has risen a bit less than 10% over the past week or so. Today it has  had its largest volume since Sept 07. The last announcement from memory was an increase in holdings for Mathews Capital Partners. Any thoughts on this company or recent SP movements??? We topped up our holdings at $1.30 last week so hopefully it keeps going.


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## oldblue (19 May 2008)

Energy stocks have had a strong day all round, as more bullish predictions circulate on the POO.
In BPT's case, it may just be catching up on a sluggish recent SP.


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## Fab (19 May 2008)

I read a valuation of bpt at $1.98 so we are well off a reasonable price for BPT also BHP petroleum have just said they want growth through acquisition I am wondering if bpt would be a target


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## oldblue (19 May 2008)

Fab said:


> I read a valuation of bpt at $1.98 so we are well off a reasonable price for BPT also BHP petroleum have just said they want growth through acquisition I am wondering if bpt would be a target




I would hope so!

But seriously, I don't think that BPT has the resources/reserves or the prospects to attract BHP. BPT has traded in a $1-20/$1-70 ( approx) range for the 4 odd years that I've held them and I don't really see the potential to break out of that. I would feel more confident if they hadn't sold down their BMG interest from 50% to 30% during the last 12 months.
Would be happy to be convinced otherwise!


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## vishalt (19 May 2008)

oldblue said:


> I would hope so!
> 
> But seriously, I don't think that BPT has the resources/reserves or the prospects to attract BHP. BPT has traded in a $1-20/$1-70 ( approx) range for the 4 odd years that I've held them and I don't really see the potential to break out of that. I would feel more confident if they hadn't sold down their BMG interest from 50% to 30% during the last 12 months.
> Would be happy to be convinced otherwise!




Yeah I agree, BPT's prospects are still more exploration rather than sound production. We'd be lucky to get $1.5 billion from BHP. Besides all they care about is Rio Tinto at the moment. 

I'm thinking SANTOS may have an interest? Think about it, both South Australia, and 2nd/4th biggest Aussie producers respectively.

Anyway Beach is fundamentally sound at the moment with production and constant exploration, so on the technical side its looking blue skies at the moment. 

I can see $1.50 - $1.70 maybe within a month if BPT can hold up at the $1.35 mark and if oil holds up and Woodside/Santos keep leading the sector.

Also BPT is trading at a valuation of 17 compared to a sector of 30 (I think), thats nearly a whopping 50% discount for a company that has sound fundamentals at the moment.


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## vishalt (20 May 2008)

Haha flying today, touched $1.52 almost, gogo Beach! On song now.

That $1.35 - $1.40 level should hold up now in my opinion, hopefully we can see a new base formed at $1.45 - $1.60 though.


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## ronnieling (20 May 2008)

vishalt said:


> Haha flying today, touched $1.52 almost, gogo Beach! On song now.




Bleh, sold out yesterday - BPT was trading at a rather large discount compared to STO/WPL and its finally posted some solid gains to bring it back in line with where the rest of the energy sector has gone. I think their recent increase in production had alot to do with Ensign solving a few issues earlier in the year which was slowing their production. 

As for a possible SANTOS takeover, highly doubt it. Part of SANTOS' problem was being stuck in the Cooper/Eromanga far too long . They had plenty of leases in the basin and its surprising at all to see companies like Beach and Stuart get oil out of these area which Santos had for 25+ years.


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## vishalt (21 May 2008)

$1.58, almost back to all-time highs. Would be huge confidence for shareholders if it can break it! Oil breaking past US$130 barrel now, good stuff for Beach which getting some good margins in its product from what I'm hearing.


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## Tysonboss1 (21 May 2008)

ronnieling said:


> They had plenty of leases in the basin and its surprising at all to see companies like Beach and Stuart get oil out of these area which Santos had for 25+ years.




no doubt a combination of new technolgy and >$100 oil makes alot of the areas overlooked in the past very profitable now,.... I mean it was only a few years ago all was less than $40, so I would say the cooper basin still has alot left in it at todays prices,..


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## oldblue (22 May 2008)

vishalt said:


> $1.58, almost back to all-time highs. Would be huge confidence for shareholders if it can break it! Oil breaking past US$130 barrel now, good stuff for Beach which getting some good margins in its product from what I'm hearing.




Yes, POO at USD130 plus BPT's coal seam methane prospects should see new all time highs!
Will be very disappointed otherwise.


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## vishalt (22 May 2008)

$133 a barrel and more production set to come online, i thing reg nelson has successfully turned this company around from a two-decade wreck to a winning stock if you bought it in 2002


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## pointr (22 May 2008)

Hi all BPT holders and followers. i thought it was interest having held BPT for at least a year that yesterday BPT did not follow its regular pattern of drilling / progress reports. Does this mean i) they had nothing to report 
ii) they were out celebrating the rising SP or is their attention on other matters corporate apart from drilling. merely my . I last looked at 1018 this morning and a drilling report still wasn't up. Disregard this post the minute one is


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## vishalt (22 May 2008)

They had a progress report today and acquired some interests in Egypt so there ya go. 

I'd expect a little correction for beach, possibly down to $1.40 - $1.45, there has to be a correction in oil and oil stocks in the medium term.


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## ShareDevil (27 May 2008)

looks like it's sitting up above the 150 mark... hmm. The old girl has been good to me so far... here's to more good news!!


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## mime (30 May 2008)

Wow nice jump today($0.12 or 7 or so %)! Hope Monday holds the same fortunes. I think this stock is a winner.


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## vishalt (30 May 2008)

mime said:


> Wow nice jump today($0.12 or 7 or so %)! Hope Monday holds the same fortunes. I think this stock is a winner.



Absolutely, and on a day when oil slumped. GOGO BEACH!!

If you read the announcement today it bought a 20% interest in some Egyptian oilfield where Beach gets 40 million barrels of oil. Beach produces around 10 million a year, thats an added 4 years of reserves to the 9 it has (ofcourse as production ramps up reserves will fall) - but at the moment, Beach has more than a decade of oil to pump out.


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## Tysonboss1 (31 May 2008)

What I like bout beach is that it is exploring to build reserves of conventional oil and gas, But t the say time it is not scared to branch out into other areas such as coal seam methane and geothermal, which will give it longevity into the future and diversify it's income streams.

at the end of the day that is what business is all about, securing and growing income streams.


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## 56gsa (2 June 2008)

trading halt due to capital raising - not sure of others experience with SPP but I've seen the stock go into something of a hiatus while this is taking place, sometimes struggle to move about the SPP level, but then when it does it can often increase quite dramatically??  (Personally, I'm a bit concerned about POO level being sustained so may need to be cautious on the timing of BPTs' SPP)



> Placement, SPP and bonus options issue
> Beach intends to raise approximately A$190 million via a placement of new ordinary shares to institutional and sophisticated retail investors. The placement is expected to be completed by Thursday 12 June following investor presentations to international and domestic institutions. New shares issued under the placement will rank equally with existing shares. Beach will also offer eligible shareholders the opportunity to subscribe for up to A$5,000 worth of shares through a non-underwritten share purchase plan (“SPP”). Pricing of the SPP will be the same as the pricing of the placement.
> 
> In addition, all new and existing eligible shareholders will be entitled to participate in a 1 for 10 bonus options issue, with an exercise price of A$2.00 per share and expiry of 30 June 2010.
> ...


----------



## mime (2 June 2008)

?? Your quote says the options can be executed at $2 but the stock price isn't anywhere near that. Can someone please explain this to me?


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## oldblue (2 June 2008)

BPT clearly have some big spending plans, needing to raise additional capital at this time on top of the $246m received from the sale of 20% of BMG during the last six months or so plus revenues from record prices for oil and gas.
Let's hope it's money well spent!


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## oldblue (2 June 2008)

mime said:


> ?? Your quote says the options can be executed at $2 but the stock price isn't anywhere near that. Can someone please explain this to me?




It's quite normal for "free" options to be issued at a strike price in excess of current sp.
Shows confidence on the part of management!


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## vishalt (2 June 2008)

I think this is a very good announcement. 

It'll dilute the value of existing shareholders a bit but who cares, many companies use capital raisings and this is for a good purpose - not replinishing the balance sheet and it'll ensure Beach maintains its very low 10% gearing ratio.

The Egyptian oilfield costs US$110 million and has 40 million barrels of oil.

Lets say oil averages US$130 million a barrel for the next few years. 

US$130 x 40 million = US$520/A$545 million in revenue. 

If oil is $200 barrel on average (entirely possible) that will be nearly $1 billion in revenue for beach.

Labor in Egypt is cheap so Beach will get a huge boost to reserves and profits when this project gets going (it is still waiting approval). 

I'm wondering what the shares will open at and if the big investors in this company like the plan.

Lets not forget the bonus exploration prospects the company will get and perhaps some JV's along the way and also Beach's ongoing existing projects and coal-seam gas reserves.

GOGO BEACH ! I'm very happy with this investment.


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## oldblue (2 June 2008)

Hi Vishalt.
Not sure about your maths there. The presentation by Beach says USD110m for *20%* from Tri-Ocean Energy for 3 undeveloped oil discoveries with 2P reserves of ~40mmb.
It looks like you have attributed the full 40mmb to BPT?
And assumed that all of the 2P reserves prove to be recoverable?


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## b4subi05 (2 June 2008)

Day all,

Interesting announcement today Beach, I too am a long term investor in this one. I'm not sure where the share price will head short term given this latest announcement, I'm guessing a short term weakness.

Question I have is if anyone thinks the AOE/SHELL partnership will have a positive effect on beach considering its in partnership with AOE on the Queensland CSG project?


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## vishalt (2 June 2008)

oldblue said:


> Hi Vishalt.
> Not sure about your maths there. The presentation by Beach says USD110m for *20%* from Tri-Ocean Energy for 3 undeveloped oil discoveries with 2P reserves of ~40mmb.
> It looks like you have attributed the full 40mmb to BPT?
> And assumed that all of the 2P reserves prove to be recoverable?




Ohhh d'oh my bad!

The way I'm reading the press release language is confusing me lol.

I thought they mean the concession that Beach acquired had 40 million barrels.


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## urgalzmine (2 June 2008)

b4subi05 said:


> Day all,
> 
> Interesting announcement today Beach, I too am a long term investor in this one. I'm not sure where the share price will head short term given this latest announcement, I'm guessing a short term weakness.
> 
> Question I have is if anyone thinks the AOE/SHELL partnership will have a positive effect on beach considering its in partnership with AOE on the Queensland CSG project?





Spot on dude,  if you read smart investor Jan 2008 edition from Graeme Anderson he indicates that beach is going in to CSG, 

BPT have many projects underway with a market cap of $1billion its not a small fry


----------



## Tysonboss1 (2 June 2008)

mime said:


> ?? Your quote says the options can be executed at $2 but the stock price isn't anywhere near that. Can someone please explain this to me?




If you look at the option offer the option doesn't expire till 2010,... If you hold the option you can purchase shares for $2 in 2010 when the share price might have moved to $3 by then,...


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## oldblue (3 June 2008)

b4subi05 said:


> Day all,
> 
> Interesting announcement today Beach, I too am a long term investor in this one. I'm not sure where the share price will head short term given this latest announcement, I'm guessing a short term weakness.
> 
> Question I have is if anyone thinks the AOE/SHELL partnership will have a positive effect on beach considering its in partnership with AOE on the Queensland CSG project?




Beach spokesman is reported as saying that they now have to consider taking up the pre-emptive rights attached to their 40%  in the AOE/BPT interests, or join in the partnership with Shell. My guess is they will opt for the latter - unless, of course, someone wants to buy them out at an attractive price!


----------



## jinx888 (3 June 2008)

Ive been with these guys since 2002 when the stock was 28c. This is the 3rd bonus option they have issued since then. From my experience management usually issues bonus options when they think BPT is undervalued. The stock price usually moves up after the bonus options. If i can remember clearly the first one was 60cents and which later so the stock price rise rapidly. The second one was at $1.xx. I have confidence in Reg Nelson. Altho, im not as bullish on the price of oil. Most valuations still use long term average of about $60-$75 a barrel. Still at current oil prices. BPT still has some value. Im just wondering why they are still on halt after already announcing. Unless they have more news coming out.


----------



## mime (4 June 2008)

Hey nice work at $0.28, I got mine at $0.44 or so. I'm hoping it grows into the next OSH and optimistically the next WPL


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## oldblue (4 June 2008)

jinx888 said:


> Ive been with these guys since 2002 when the stock was 28c. This is the 3rd bonus option they have issued since then. From my experience management usually issues bonus options when they think BPT is undervalued. The stock price usually moves up after the bonus options. If i can remember clearly the first one was 60cents and which later so the stock price rise rapidly. The second one was at $1.xx. I have confidence in Reg Nelson. Altho, im not as bullish on the price of oil. Most valuations still use long term average of about $60-$75 a barrel. Still at current oil prices. BPT still has some value. Im just wondering why they are still on halt after already announcing. Unless they have more news coming out.




The trading halt continues until the book-build for the private placement is completed. That will be the next announcement but there shouldn't be any surprises there - the institutions will jump at the chance to buy BPT at $1-43.


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## oldblue (4 June 2008)

oldblue said:


> The trading halt continues until the book-build for the private placement is completed. That will be the next announcement but there shouldn't be any surprises there - the institutions will jump at the chance to buy BPT at $1-43.




BPT are now suspended from trading until the placement is completed. May take a few days but not a concern.


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## vishalt (4 June 2008)

Yeah. 

I think someone may have mentioned it but the smaller oil companies have had a spate of capital raisings recently and their share price has generally risen by 20-50% thereafter. 

This is a good investment for Beach for expansion of reserves and more exploration prospects. 

It scared me ****less this morning though because Beach was as "$0.00" on my position statements and my overall portfolio plunged 30% lol because the suspension created an anomaly.


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## karundus (4 June 2008)

Excuse the seemingly stupid question as i am new... 

I currently bought into beach @ $1.34 however how do i excercise my right to secure the bonus options that are on offer, also how will i be able to buy @ $1.43sp up to $5000 worth as i am a current holder (as they say we are able to do)

I'm confused


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## oldblue (4 June 2008)

karundus said:


> Excuse the seemingly stupid question as i am new...
> 
> I currently bought into beach @ $1.34 however how do i excercise my right to secure the bonus options that are on offer, also how will i be able to buy @ $1.43sp up to $5000 worth as i am a current holder (as they say we are able to do)
> 
> I'm confused




As I read it, the options will be automatically issued to all holders on the register at a pre-determined future date. Will then have up to 30 June 2010 to exercise by paying the strike price of $2. ( Or selling the options at some stage: or letting them lapse.)
Likewise, the SPP offer of shares at $1-43 up to $5000 ( up to 3496 shares? ) will be sent out in due course. It is usual with SPP issues to offer holders the option of taking up a lesser amount, say $2000 or $3000 worth if they don't want the full $5000. Don't know if that will apply in this instance.


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## vishalt (4 June 2008)

So is a retail investor like me with 1000 shares in Beach going to get a chance to get involved in this raising? I'd be happy to buy 1000 more shares..


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## oldblue (5 June 2008)

vishalt said:


> So is a retail investor like me with 1000 shares in Beach going to get a chance to get involved in this raising? I'd be happy to buy 1000 more shares..





The usual procedure with a Share Purchase Plan is for all shareholders to be offered up to $5000 worth of shares, irrespective of the size of their holdings. In fact, I've never seen an offer for less ( although you normally can opt for less) but I imagine a company could nominate a lesser amount.
BPT have specifically said that a SPP is part of their capital raising but no details yet.


----------



## 56gsa (5 June 2008)

oldblue said:


> The trading halt continues until the book-build for the private placement is completed. That will be the next announcement but there shouldn't be any surprises there - the institutions will jump at the chance to buy BPT at $1-43.




Interesting they're saying they will use some of the proceeds to close out their hedge book - must be expecting oil to stay high although not sure what their hedge level is at present?

What will be the opening price when it re-lists?  will it fall to $1.43?

I've tried to crunch some numbers

903,448,006    current shares + unlisted option
$1,508,758,170  mkt cap (@ $1.67 last trade)


133,600,000   placement shares
$1.43                  placement price
$191,048,000  proceeds		

Now how much from SPP (3497 shares @ $1.43) - because this depends on how many take it up...

28,000  current number of shareholders
50%     estimate of what % take-up SPP

48,951,049  estimate of SPP shares issued
$70,000,000  SPP proceeds (@ $1.43) - note BPT don't seem to say what they'll be doing with this cash

90,344,801   options issues (1:10 of current holders @ 16 June)


1,176,343,856   New number of BPT shares (add red numbers)
$1,769,806,170   estimated mkt cap (current mkt cap + proceeds-blue numbers)	

$1.50   estimated share price based on above

Not sure  if this is right - ie market is currently pricing in egyptian purchase - so do you also add the placement and SPP proceeds or is this double counting?  If you don't add these in and just use current mkt cap you get $1.29 est share price

there must be a standard spreadsheet stock brokers use to calculate all this??!!


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## oldblue (5 June 2008)

It's too hard for me! There probably is a theoretical ex placement, ex SPP price but recent experience with other companies, eg NMS, indicates that theory doesn't count for much in these circumstances, and especially, I would suggest, as far as oil companies are concerned.
I think market sentiment towards the POO, the excitement over CSG ( BPT has 40% of the Tipton West field, so is involved in the AOE/Shell business to some extent ) and whether the instos feel filled up by the placement, will determine where they trade when suspension is lifted. The timing of that event will have a big bearing, particularly if it coincides with a bit of volatility in the POO.
There will be a period between re-start of trading and close of the SPP when we can decide whether to buy/sell/take up SPP. Should be exciting!


----------



## vishalt (5 June 2008)

I phoned investor relations and they said the letters will go out after an announcement on Friday, so yeah we do get to participate . 

Oil is having a bit of a correction at the moment but who cares, long-term is US$200+ easily.


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## Tysonboss1 (5 June 2008)

It seems odd to me that they have suspended trading just for a capital raising.

I wouldn't expect that they would do that. is anyone aware of any other factors.


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## TRUST_ME (5 June 2008)

standard practice to suspend stock poending placement with insto's and big investors.

i was offered some stock for the placement but this stock rises and falls with the oil price so I think the share price will actually fall due to oil price easing and the dilution effect due the palcement. 

i'd take my chances on the open market and maybe buy in after the oil price goes back under $115 mark.

long term this stock is a good buy especially due to their 40% stake in a CSG tenement with Arrow energy.


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## oldblue (6 June 2008)

BPT has resumed trading ( currently $1-54 ) having successfully completed the placement at $1-43.
Announcement says the Share Placement Plan at $1-43 and the bonus options issue will now proceed.


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## mime (6 June 2008)

Haha BPT has fallen 8% or so which was against the general mood of posters.  So will there be an option to purchase units for $1.43?


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## oldblue (6 June 2008)

mime said:


> Haha BPT has fallen 8% or so which was against the general mood of posters.  So will there be an option to purchase units for $1.43?





Company says
  (a) shareholders on the register at 16 June will be offered opportunity to purchase up to $5000 worth of shares at $1-43.
(b) Shareholders on the register at 1 July will receive listed options in the ratio of 1 for 10 shares held. Options will have an exercise price of $2-00, expiry date of 30 June 2010. 

The determination date of 1 July, 2008 for entitlement to the options may indicate that the SPP will close before then and that the shares taken up in the SPP will also be included, but that's just speculation on my part, It hasn't been spelt out by the company at this stage.


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## 56gsa (6 June 2008)

mime said:


> Haha BPT has fallen 8% or so which was against the general mood of posters.  So will there be an option to purchase units for $1.43?



Mime - not sure what the 'haha' is about - i didn't get any sense of outrageous optimism from posters about the re-listed price - my prediction was $1.50 which turned out pretty close to the mark

I wouldn't be surprised to see this go down to $1.43 or even less after the record date for the SPP as so often happens with SPP - makes sense as demand for BPT i largely soaked up by shareholders by through the SPP

Interesting the options are 1 july - haven't read anns so can't make sense of this just yet...


----------



## vishalt (6 June 2008)

I might put in $1000 more. 

Wall St is probably not in the mood to scatter away from the oil market. They gotta inflate something else up to make up for the pathetic losses they took from the sub-prime markets.


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## roland (30 June 2008)

What is wrong with Beach? They are pumping oil like there is no tomorrow, coal gas coming up, thermal in the pipes (so to speak), great news release today - where's the action?

I picked up a few thousand at $1.335 in any case


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## dan-o (7 July 2008)

these shares still below SPP price. anyone know of a specific reason why or is this one of those potentially good buys in oil?


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## oldblue (7 July 2008)

dan-o said:


> these shares still below SPP price. anyone know of a specific reason why or is this one of those potentially good buys in oil?




BPT has been a bit of a disappointment SP-wise for a couple of years now. A lot of shares issued - now over a billion out there with more to come if anyone takes up the SPP! It seems that the SP trades in a fairly narrow range and gets clobbered with a new issue whenever it looks like breaking out!
Concern in some quarters that company has sold down its 50% in BMG to 30% ( for $246m ) while venturing overseas - Egypt, Turkey, Albania, Tanzania - and dilution of management focus that this entails when there are a lot of opportunities at home, not the least of which in the developing coal seam gas scene.
BPT recently spent a big amount - $50m from memory? - to settle a big chunk of its Delhi related hedges. So future profitability should be enhanced if the PoO remains firm!

Disc: Holding, but not adding.


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## oldblue (7 July 2008)

Should add that practically every stock is currently taking a beating in this bear market. So how much is BPT specific is anyone's guess.


----------



## white_goodman (17 July 2008)

oldblue said:


> Should add that practically every stock is currently taking a beating in this bear market. So how much is BPT specific is anyone's guess.




true, ill be keeping it heavily watched on the watchlist tho.... i remember selling out at 30% profit the day before the big slide in november/december(cant remember)... it would please me so to do the same again


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## hsv2001 (10 September 2008)

Does anyone know why today's announcement caused such a big drop in SP? Even DLS has taken a fall in it's SP. I would've thought this was good information, being the start of new drilling at a 50% share each???

Any thoughts?

Marc


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## oldblue (10 September 2008)

I think it's just the old bear market. eg AWE down 5%, PPP down 4.4% etc.
BPT down a bit less than that.
Standard "good" news just doesn't register at the moment.


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## pointr (10 September 2008)

Energy is out of favour this week / month. Opec seems to have drawn a line in the sand today which may provide support. BPT has been punished with the falling oil price even thought a majority of its earnings come from gas. I started to get a bit concerned when they decided to go into the Middle East and defensively sold half our shares( but not at the top). Perhaps sucess in their Bass Strait programme may provide some upward momentum.


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## roland (10 September 2008)

OPEC cutting production should help Beach and other oilers along:



> OPEC decides to curb overall output; prices rise
> Wednesday September 10, 6:05 am ET
> By George Jahn, Associated Press Writer
> OPEC oil ministers decide to trim output by more than 500,000 barrels a day; crude prices rise
> ...




A couple of BPT announcements today with increased drilling activity and the Geo Thermal energy keeps me interested and buying.


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## roland (10 September 2008)

Not Beach related, but this section of an email I received from the Motley Fool is an interesting read:



> *Now Goldman Sachs says a "super-spike" could rocket oil to $200 within 6 months -- and you can bet $5 gas won't be far behind.*
> This may be your last chance to get the full story and start cashing in.
> 
> By Bill Mann, Motley Fool Senior Analyst
> ...




I don't subscribe to The Motley Fool, just get their free emails. Could provide for interesting reading: http://www.fool.com/

Reminds me of the upbeat stuff from Fat Profits - maybe Fat copied them ????


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## hsv2001 (11 September 2008)

quite hefty falls today and yesterday, is this normal for BPT? I haven't been watching it for too long but it just seems like this share fluctuates greatly up and down each day, even though there was positive information released to the market yesterday. down to 86c and still doesn't look like it will grow back up today.

any thoughts?

Marc


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## oldblue (11 September 2008)

hsv2001 said:


> quite hefty falls today and yesterday, is this normal for BPT? I haven't been watching it for too long but it just seems like this share fluctuates greatly up and down each day, even though there was positive information released to the market yesterday. down to 86c and still doesn't look like it will grow back up today.
> 
> any thoughts?
> 
> Marc





See my post yesterday.
Nothing's changed, the PoO is down and most of the oilers are taking a beating. I suspect it's nothing deeper that that.


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## hsv2001 (11 September 2008)

thanks, it just seems such a big loss between the two days, from 97c to 84c, let's just wait and see what the next few days bring.


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## roland (9 October 2008)

Thought I would spread my misery around with all my holdings. Maybe my losses will brighten up someone else.

BPT -17.79%


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## seasprite (22 October 2008)

My records show 100% success in this permit (PEL 106) so far
with Udacha 1
Rossco 1
Nutmeg 1
Paranta 1
Smegsy 1
Paprika 1
Cadenza 1 and
Middleton 1.

If Brownlow 1 was bordering PEL 107 I would be a bit worried , Kiana 1 appears to be the only successful well in PEL 107 with 8 dustbusters.


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## roland (30 October 2008)

There just has to be something with Beach's SP - they keep going from strength to strength:



> *BEACH’S RECORD REVENUE START TO 2008-09 *
> 
> Beach Petroleum Limited (ASX: “BPT”) has followed up its record 2007-08 full-year revenue with the oil and gas group’s highest ever quarterly revenue in the period to 30 September 2008.
> 
> ...




Looks like it'll be worth hanging around for a little while longer with Beach


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## oldblue (30 October 2008)

roland said:


> There just has to be something with Beach's SP - they keep going from strength to strength:
> 
> 
> 
> Looks like it'll be worth hanging around for a little while longer with Beach





Well, I'd be looking sideways at any producing oiler which couldn't produce good results in the 3 months ended September - the PoO was still pretty high for the first 2/3 of the period.
BPT's result is enhanced by a pretty ordinary corresponding period the previous year but the SP is going to take a bit of moving with over a billion shares on issue now, before counting those issued under the latest DRP.




Disc: Small holding.


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## seasprite (3 November 2008)

well that's hardly surprising Brownlow 1 was going to be successful. That still makes it 100% success rate in this permit (PEL 106).


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## roland (3 November 2008)

Well, blow me down - I'm finally in the green with Beach. It's been a nerve wracking ride, followed it down to $0.74 - even got my $0.01 dividend (about 2 x bottles of Jim Beam).

I had the chance of offloading the lot today at a profit, but this is what I seem to always do - forget to let my winners run.

I did have some of the wind blown out of my sails with the revelation of the number of shares on issue dampening my enthusiasm - but I'm still feeling pretty good for short term positive action.


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## seasprite (4 November 2008)

Canunda 1 next on the cards , approx 10km north of Brownlow 1 , once again this is still in PEL 106 , also Spikey Beach 1 cannot be too far away from spud in T/38P Bass Basin . I do remember that they were very focused on targeting Spikey Beach 1 . BPT will be earning 80%.


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## fringedweller1 (2 February 2009)

Hi all,

could someone please explain, the following course of sales:
Source Comsec:
Trade of BPT occuring on Monday, 02 Feb 2009
 52 Week 
Time Price Volume Value Condition 
04:22:45 PM 0.775 8,998 6,973.45 XTET OS 
04:20:29 PM0.810 [/COLOR]138,642 112,300.02 XTSXOS 
04:13:25 PM* 0.760 *15,000,000 11,400,000.00 XTOS 
04:10:22 PM 0.810 4,177 3,383.37 XT 
04:10:22 PM 0.810 1,765 1,429.65   
04:10:22 PM 0.810 15,681 12,701.61   
04:10:22 PM 0.810 12,554 10,168.74

How can someone buy for .76 when there where others looking to buy at .78 at the time.
then the price bounce straight back

any help understanding this would be great,

it also seems a very large number to buy just before close, would they have info we havent had access too


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## oldblue (2 February 2009)

I believe that "XTOS" is an overseas crossed trade.
It's possible that it wasn't made in " real time", or that there was a delay in reporting the trade.


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## fringedweller1 (2 February 2009)

Thanks for your reply
I still am confused though !

The stock lasted at .76 as follows (prior to the one detailed above):
10:09:48 AM 0.760 4,437 3,372.12  
The rest of the day it slowly climbs higher,
Even with the slowest connection in our digital age I would expect to see the buy list within a minute or two certainly no 6 hours later as this misleads the market as to the real status of affairs,

If what you say is correct, then that is just wrong!! Not you (the way its done)

I ask the question if at 10:09.48 a buy of 15,000,000 shares sudden appears,  do you think BPT would have the same volume traded today as it did!!
I don’t as I think others like me would have bought more at that price or slightly higher


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## nomore4s (2 February 2009)

A crossed trade is not a normal trade in the sense that it is normally done off market between 2 parties who have agreed on a price or some thing like that, look up crossed trades on the ASX site and you will find a more in depth and accurate explanation.


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## pointr (12 February 2009)

A few days now with volume around 20million and upward movement. Is this recognition of value? eg Tipton CSG asset,faith in the move to Egypt or simply a fund manager trying to pick the bottom. Any thoughts out there in 'clever people land', sorry I just remember that we as a nation put the ALP in charge of our finances.


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## seasprite (12 February 2009)

pointr said:


> A few days now with volume around 20million and upward movement. Is this recognition of value? eg Tipton CSG asset,faith in the move to Egypt or simply a fund manager trying to pick the bottom. Any thoughts out there in 'clever people land', sorry I just remember that we as a nation put the ALP in charge of our finances.




only speculating here , but wouldn't surprise me if ORG was trying to get a bigger chunk of the pie. PL198(Tipton) is quite a small permit but very successful . BPT have a lot of wells that have been Cased & Suspended including Moomba , Big Lake , Mudera , Fly Lake ,Tirrawarra , Coonatie and the list goes on . Interesting times indeed , I personally was expecting more takeovers/mergers etc after 1st quarter announcements not before .


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## oldblue (12 February 2009)

Pretty clearly related to the CSG scene and the fight over PES. Perhaps speculation that AOE will bid for the other 40% of Tipton West that BPT hold. After all, BPT have announced a couple of weeks ago that they are seeking offers for that asset.


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## pointr (3 April 2009)

So a BPT / AOE transaction has occurred with BPT selling its 40% stake in Tipton West. BPT say they will use the proceeds in building the company. I personally would have preferred if they had kept away from the potential sovereign risk in the Middle East and spent our money in Australia. Another CBM development or non conventional gas in the Cooper Basin may have been a better investment than potential dry holes in Egypt. I would also like them to stop issuing shares in DRP's making my little piece of the pie smaller.


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## oldblue (3 April 2009)

Well it seems the market's not impressed with the price. Sold BPT down 2.5c on volume on the news. BPT has sold more than half its boe reserves for $400m but its retained those sexy prospects in Egypt, Albania, Tanzania etc!


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## TheAbyss (3 April 2009)

oldblue said:


> Well it seems the market's not impressed with the price. Sold BPT down 2.5c on volume on the news. BPT has sold more than half its boe reserves for $400m but its retained those sexy prospects in Egypt, Albania, Tanzania etc!




I am guessing the sell of is via CSG players who were looking for a fast profit via M&A activity.

This sale to AOE is positive to BPT however not in the sense that the CSG players would have been seeking (ie no one has bought or made a take over play for BPT) imo.

Still a very positive result for BPT in that they have chrystalised an 1100% return on their Tipton West investment.

Beach has 1,033,924,347 shares on issue. The $400m received from the sale of the Tipton assets equates to $0.387 per share. 

Do they spend it all on future exploratiions, a special one off dividend payment or something else? The sale was not all in cash mind you so dont expect anything flash if they do deliver a cash payment to shareholders. I suspect they will retain all of the cash and provide a fantastic end of financial year report. A few additional incentives there which are too far into teh future to interest shorter term traders which is also a reason for todays sell off imo.

Either way you put it it isn't a reason to sell unless you are a short term trader looking for fast profits in my view.

Longer term this is a good one in my opinion.


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## Nero64 (3 April 2009)

> Either way you put it it isn't a reason to sell unless you are a short term trader looking for fast profits in my view.
> 
> Longer term this is a good one in my opinion.




Yeah that's what  i was thinking. If you do the math on its last financial report its total equity is 1.2Billion, so its value is $1.20 on liquadation. 

This deal will enhance its balance sheet. 

However what will it do for its future for CSG? It still has the Cooper basin, but this doesn't produce like the Surat Basin. 

I am interested as it was the 6th biggest CSG player in QLD and it produces oil as well. 

Both oil and CSG hedge each other but still I think the company is undervalued. Not sure if it is good long term if it is lost 3/4 of its CSG prospects.


----------



## oldblue (3 April 2009)

The irony here is that BPT management have long argued that the market didn't value Tipton West sufficiently in the SP, hence an incentive to realise on the asset.
It looks like shareholders reckon that TW was worth more than AOE are paying after all!


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## oldblue (3 April 2009)

However what will it do for its future for CSG?

QUOTE.

It pretty well takes BPT out of CSG, at least for the meantime.
I imagine that's one of the aspects that shareholders/the market don't like and why the SP has been sold down on the news.


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## Tiberium (3 April 2009)

Beach acquired its 40% interest in the Tipton West Joint Venture in 2005 for A$35 million. 

The sale of the asset for up to A$400 million represents a very significant return of over 11 times Beach's original investment and crystallises the inherent value of the CSG investment (which directors believe was otherwise not reflected in Beach's share price).

Beach’s Managing Director, Reg Nelson said: “This deal realises significant and immediate value from a small investment in the then nascent coal seam gas industry only a few years ago. The cash generated from what was a material, but non-core asset, leaves Beach in a strong net cash position. Beach is now exceptionally well placed to make further investments in other business areas, some of which we have already identified. In particular, we are now well positioned to take advantage of opportunities which will continue to emerge at a time when many projects suffer from undercapitalisation”.


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## pointr (8 April 2009)

Well they have just announced the first 'duster' in Egypt or should I say 'mudder' as it was water saturated, a distinctly negative cash flow comparison to hydrocarbon saturated. I really do hope they know what their doing taking our money overseas.


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## gamefisherman (17 April 2009)

*Re: BPT what is happening?*

Today last sale .77, on Commsec currently 193 buyers for 2,812,707 units and 323 sellers for 5,201,368. Price peaked in June 2008 and has been on a downward trend since then.  

What is going on with this large cap stock. Is it heading towards a resistance level of around .70 or lower???

Any tech analysis for an amatuer would be appreciated or any other feedback. Partner has small holding at .785 with a long term view, however should she dump them now, and buy back at a lower price??

Deutsch increased shareholding recently? 
Any thoughts much appreciated.


----------



## babka (18 April 2009)

Hi Game, I too, am unfortunate BPT share holder and am witnessing its price going lower and lower. I don't have any good advice to give, unfortunately. I think that the management has  made a lot of wrong decisions , like going to Egypt, after Santos left, and sofar they found nothing - l dry hole!!! Maybe we should try to question the people responsible and ask "Please explain".


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## Nero64 (18 April 2009)

It has been in a selling spiral since it sold its CSG stake to Arrow energy. 

I think the CSG buyers were keeping it from not drifting lower, but even with the accumulation there was still selling pressure as oil was hitting its lows. 

It is quite a big producer of oil but unfortunately it doesn't have the market favourtism of say AWE or Oil Serach. 

I would like for it to use the cash it will get from Arrow to pay of its debt and maybe invest in some CSG assets. Alternatively buy back some of its 1 Billion shares the are floating around killing its share price. Its seems to be the same old same old with this company, and its about time for it to try something new. Give the share holders a bit of faith, and draw the big names in. 

There is long term support at 70c, and if oil holds hopefully it won't sink below that. If oil doesn't hold or if the price SP falls below 70c then it's goodnight for now. 

I think oil will get to $70US a barrel this year so it should trade in the range of 70-90c. But that is just another opinion to add to the 1000's out there. 

It is a large oil producer with some recently acquired cash so it is also a possible take over target. 



> Partner has small holding at .785 with a long term view, however should she dump them now, and buy back at a lower price??




I think long term it is a good buy but its intrinsic value means nothing in a bear market. It's the perception that matters. I would sell it and maybe get it later if you can.


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## gamefisherman (19 April 2009)

hmmmmmmmmmm thanx guys for the feedback
We will wait and see what the market does with it this week, it will be interesting to see........


----------



## Ludwik (26 April 2009)

Beach is part of Petratherm test program I hear, so cross posting for feedback from Beach bums who might be up with it on geothermal:

Geothermal is promising - agreed.

The future of this mob is uncertain on some criteria, given that much of the hype is around clean and sustainable energy - the latest news is not good, meaning ethical investors may run for the hills real fast.

Planned transmission lines across Flinders Ranges adding risk of regional backlash and tainting the green image of geothermal - and wasteful exp on grid when not required.

Seeming intent re above to power Olympic Dam and Beverley Uranium Mines - what the out the window go the green and clean credentials

Test site at Paralana (help me out geologists) - would'nt drilling into a major fault line be somewhat risky in terms of damaging the geology and destabilising an area in close proximity to an aboriginal sacred hot springs ? ethical credentials out the window again.

Petrotherm may throwing the geothermal baby out with the bath water on this if they dont play their cards right - so far the scorecard is not looking good, while the fundamentals are promising it appears they are wading deeper into murkier waters.


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## pointr (5 May 2009)

Today BPT has launched an all scrip bid at $0.03 for Drillsearch Energy-DLS, more shares issued but at least there not increasing sovereign risk this time.


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## Nero64 (5 May 2009)

> Beach is part of Petratherm test program I hear, so cross posting for feedback from Beach bums who might be up with it on geothermal:




I don't think geothermal projections or outcomes will have an impact on the SP movements of BPT at this stage. Most oil stocks have outperformed in the past 3-4 days and this will be the main driver.


----------



## Sean K (19 May 2009)

Not sure what's going on with these guys funnymentally. 

Technically looks interesting for a break one way or the other. 

Watch and shoot.


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## ShareDevil (19 May 2009)

Interesting chart kennas. It appears BPT has a very solid floor. I'm more than convinced by the latest announcement that this undervalued stock will go the other way. They have huge upside potential in my opinion.


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## oldblue (19 May 2009)

Well, I hope you're right, ShareDevil.
I've held BPT longer than I care to remember on the presumption that better performance was just around the corner.
I'm now coming to the conclusion that the 1 billion plus shares on issue are too much of a handicap for this company to out-perform.


----------



## champ2003 (2 July 2009)

oldblue said:


> Well, I hope you're right, ShareDevil.
> I've held BPT longer than I care to remember on the presumption that better performance was just around the corner.
> I'm now coming to the conclusion that the 1 billion plus shares on issue are too much of a handicap for this company to out-perform.




OK it's now time to take another look at BPT in my opinion.

Too much has changed for the positive to warrant it staying at such a cheap price for too much longer.

It is now 100% deb't free and has no oil hedging in place to limit it getting high prices so the sky is the limit now.

With a yearly profit of over 200 million this is way too cheap. 

200x P/E of 10 = 2 billion ( market cap)

Current market cap= 815 mill

Undervalued?? I say!


----------



## gooner (2 July 2009)

champ2003 said:


> OK it's now time to take another look at BPT in my opinion.
> 
> Too much has changed for the positive to warrant it staying at such a cheap price for too much longer.
> 
> ...




Where do you get $200m from?

Based on last quarterly no free cash flow, in fact were burning cash at a huge rate

If it smells like a dog, wags its tail like a dog and barks, it is a dog


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## oldblue (2 July 2009)

I'd be a bit careful about a "yearly profit of $200m".

This will include the abnormal profit from the sale of Tipton West to AOE - at a price incidentally which didn't compare too favourably with other Qld CSM deals.

A more realistic profit base would be last year's normalised NPAT of $52.7m, around 5cps.


----------



## UPKA (2 July 2009)

Alternatively, DLS is trading at a slight discount to the current BPT SP. considering BPT might better the current take over offer to DLS. So it may be cheaper to enter BPT via DLS...


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## vincent191 (2 July 2009)

BPT pisses me off no end. They paid some stupid dividend of 4 cents. The cheques, bank charges, stamp duty and postage could have costed them a good part of the total dividend payout. So why can't they excercise some common sense and not declare a dividend, save so money and not add insult to injury to the small shareholders.


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## champ2003 (2 July 2009)

oldblue said:


> I'd be a bit careful about a "yearly profit of $200m".
> 
> This will include the abnormal profit from the sale of Tipton West to AOE - at a price incidentally which didn't compare too favourably with other Qld CSM deals.
> 
> A more realistic profit base would be last year's normalised NPAT of $52.7m, around 5cps.




Oldblue,

52 Million is what they had already achieved in normalised NPAT by December 2008 and you think that in the last 6 months they have only gained an additional .7 million???

You had better take another look at the half yearly report again (page 6)

Based on those figures BPT will have at least 100 million profit for the financial year ending June 2009. NPAT should be far better than that for the new financial year that we are in now.

I have also calculated that the company will now be saving $51,780,000 in interest payments for the 650 million in borrowings that they have now paid back. 

It's all icing on the cake.


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## champ2003 (2 July 2009)

gooner said:


> Where do you get $200m from?
> 
> Based on last quarterly no free cash flow, in fact were burning cash at a huge rate
> 
> If it smells like a dog, wags its tail like a dog and barks, it is a dog




Gooner how do you think that BPT paid back the debt if they had such a bad cash flow???

They also have over 125 million in the bank. How many companies can boast of being debt free with money in the bank like that???


----------



## oldblue (2 July 2009)

champ2003 said:


> Oldblue,
> 
> 52 Million is what they had already achieved in normalised NPAT by December 2008 and you think that in the last 6 months they have only gained an additional .7 million???
> 
> ...




No, champ, I'm working off the 2008 result which was a NPAT of $63.7m, normalised ( by the company) after $50m hedge close out - which was a real cash cost by the way - and asset sales of $64m, plus or minus a few smaller amounts, to a "Normalised NPAT" of $52.7m.

Asset sales will be the big driver of this year's NPAT again and interest savings will certainly show up in the future but I'm more interested in their production ( last year 9.3 mmboe) and their 2P figure which has been reduced by around 60% by the sale of Tipton West.

As a long term sufferer - sorry, shareholder - I would like nothing more than for the Beach to turn up trumps.


----------



## oldblue (2 July 2009)

vincent191 said:


> BPT pisses me off no end. They paid some stupid dividend of 4 cents. The cheques, bank charges, stamp duty and postage could have costed them a good part of the total dividend payout. So why can't they excercise some common sense and not declare a dividend, save so money and not add insult to injury to the small shareholders.




I'd love to receive "some stupid dividend of 4 cents " from BPT.

The latest two divvys have been one cent and three quarters of one cent, ie one and three quarters cents in the latest twelve months.


----------



## champ2003 (2 July 2009)

oldblue said:


> No, champ, I'm working off the 2008 result which was a NPAT of $63.7m, normalised ( by the company) after $50m hedge close out - which was a real cash cost by the way - and asset sales of $64m, plus or minus a few smaller amounts, to a "Normalised NPAT" of $52.7m.
> 
> Asset sales will be the big driver of this year's NPAT again and interest savings will certainly show up in the future but I'm more interested in their production ( last year 9.3 mmboe) and their 2P figure which has been reduced by around 60% by the sale of Tipton West.
> 
> As a long term sufferer - sorry, shareholder - I would like nothing more than for the Beach to turn up trumps.




Oldblue,

Tipton West didn't make up 60% of BPT so I can't see 60% disappearing.

By the way there was no sale for BPT to fudge any profit for the first 6 months to Dec 08 and they still had a profit of 52 million so yes, they should be able to attain at least a 100 million profit for June 2009.

If people can't see value in a company that has a very decent profit in a debt free company with many solid projects in place for growth then that is their loss.


----------



## champ2003 (2 July 2009)

oldblue said:


> No, champ, I'm working off the 2008 result which was a NPAT of $63.7m, normalised ( by the company) after $50m hedge close out - which was a real cash cost by the way - and asset sales of $64m, plus or minus a few smaller amounts, to a "Normalised NPAT" of $52.7m.
> 
> Asset sales will be the big driver of this year's NPAT again and interest savings will certainly show up in the future but I'm more interested in their production ( last year 9.3 mmboe) and their 2P figure which has been reduced by around 60% by the sale of Tipton West.
> 
> As a long term sufferer - sorry, shareholder - I would like nothing more than for the Beach to turn up trumps.




Hi again Oldblue,

According to the latest preso BPT have around 270 mmboe in reserves now. They previously had 76 mmboe on top of that prior to the sale of Tipton.

Cheers!


----------



## champ2003 (2 July 2009)

champ2003 said:


> Hi again Oldblue,
> 
> According to the latest preso BPT have around 270 mmboe in reserves now. They previously had 76 mmboe on top of that prior to the sale of Tipton.
> 
> Cheers!




Actually 270 mmboe is what they are aiming at achieving so they don't have that at the moment . I think that it's just under 70mmboe.


----------



## oldblue (2 July 2009)

champ2003 said:


> Oldblue,
> 
> Tipton West didn't make up 60% of BPT so I can't see 60% disappearing.
> 
> ...




As at the latest company presentation, but before the sale of Tipton West, Surat Gas 2P reserves ( Tipton West) were 79.1mmboe or 54.9% of total 2P reserves. So, not 60%, only 54.9%!

Don't go confusing the Cooper oil and gas contingent resource of 262mmboe with 2P reserves. They are beasts of a very different colour!

The "normalised profit" of $52.7m that I refer to is for the *latest year to 30 June 2008, *not the half year. What I'm interested in is the normalised profit for the June 2009 year, after stripping out asset sales, and what the actual production has been. We can be certain that 2P reserves are going to be roughly 54.9% lower than the previous year unless they have been able to do some quick conversion of that contingent resource.


----------



## champ2003 (2 July 2009)

oldblue said:


> As at the latest company presentation, but before the sale of Tipton West, Surat Gas 2P reserves ( Tipton West) were 79.1mmboe or 54.9% of total 2P reserves. So, not 60%, only 54.9%!
> 
> Don't go confusing the Cooper oil and gas contingent resource of 262mmboe with 2P reserves. They are beasts of a very different colour!
> 
> The "normalised profit" of $52.7m that I refer to is for the *latest year to 30 June 2008, *not the half year. What I'm interested in is the normalised profit for the June 2009 year, after stripping out asset sales, and what the actual production has been. We can be certain that 2P reserves are going to be roughly 54.9% lower than the previous year unless they have been able to do some quick conversion of that contingent resource.




Oldblue,

That does make sense however I'm more interested in the profit that they will get. It's all good and well to have the 2p reserves but how cost effective are they in getting it out of the ground?

For me to determine what the share price will be I always look to profit first and then  I go from there. If BPT can duplicate their half yearly profit then that will be a great result IMO. 

I'm guessing that they will come out with something alot higher than 100 million although anything over 100 million will probably consist of the Tipton West sale so I wouldn't be factoring that in for my target price.


----------



## oldblue (3 July 2009)

BPT getting nowhere with Drillsearch shareholders, so they're extended the offer to 14 August and waived all conditions.

http://news.smh.com.au/breaking-new...um-extends-drillsearch-bid-20090703-d7g9.html


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## gooner (3 July 2009)

champ2003 said:


> Gooner how do you think that BPT paid back the debt if they had such a bad cash flow???
> 
> They also have over 125 million in the bank. How many companies can boast of being debt free with money in the bank like that???




How did they pay back the debt - assets sales, but selling off the silver is not sustainable.

March quarterly, section 5 shows a reduction of cash from $139m at end of December to $29m at end of March, a cash burn of $110m So by now would have run out of cash but for Tipton sale. Cash is king at the moment, so no wonder it has been sold down.

I hold BPT oppies only.


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## oldblue (3 July 2009)

Hi gooner.

I hold a few BPT oppies as well.
Must admit I'd forgotten all about them. The exercise price is around $2 from memory and they expire in less than twelve months now, so I'm not expecting to make my fortune there!


----------



## gooner (4 July 2009)

oldblue said:


> Hi gooner.
> 
> I hold a few BPT oppies as well.
> Must admit I'd forgotten all about them. The exercise price is around $2 from memory and they expire in less than twelve months now, so I'm not expecting to make my fortune there!




oldblue

Same with me - own about $100 dollars worth - hardly seemed worth the brokerage of $30 to get rid of them..............


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## Tysonboss1 (18 July 2009)

I have been looking alot closer at beach petroleum latly, and have spent I bit of time thinking about things.

I have come to the conclusion that at it's current price it is one of the best natural gas plays on the east coast. 

I am really confident that domestic natural gas usage on the the east coast of australia is going to rise quite sharply over the next 10 years. And with beachs production being somthing like 90% Gas, the increase in volumes and prices will have a very positive impact on beach.

I am also confident in global natural gas prices and with several LNG plants on the cards a decent amount of australian gas will be heading off shore which again will have a positive impact on domestic gas prices.

I believe the future of natural gas is bright and beach is in a position to profit from that, and at current prices I think it is really good value.


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## oldblue (18 July 2009)

It's true that BPT is mainly a gas producer but its 2P reserves in the Cooper/Eromanga Basin are only 235 PJ. ( They sold off their 445 PJ of 2P Surat Basin reserves when they sold their interest in Tipton West to AOE.)

I'm sure that gas has a big future and massive amounts will be needed, both domestically and for export as LNG. But coal seam methane appears to be the best prospect here. AOE alone has 2692 2P reserves! No wonder BG, Shell, Petronas, ConocoPhilips etc are paying up big to get a foothold in Australian csm.


----------



## Annwn (19 July 2009)

A quick look at the chart shows a large symmetrical triangle , forming since Feb 09, making lower highs and higher lows, breakout is usually downward. 
Vol decreasing


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## Tysonboss1 (20 July 2009)

oldblue said:


> It's true that BPT is mainly a gas producer but its 2P reserves in the Cooper/Eromanga Basin are only 235 PJ. ( They sold off their 445 PJ of 2P Surat Basin reserves when they sold their interest in Tipton West to AOE.)




Beach Took $70M worth of Arrow stock as part of the payment for it's CSG assets, so beach is also a cheap way of gaining some exposure to AOE.

Yes CSG is fantastic, But don't discount conventional natural gas, thee is still ship loads of conventional gas to be dicovered.


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## oldblue (20 July 2009)

Tysonboss1 said:


> Beach Took $70M worth of Arrow stock as part of the payment for it's CSG assets, so beach is also a cheap way of gaining some exposure to AOE.
> 
> Yes CSG is fantastic, But don't discount conventional natural gas, thee is still ship loads of conventional gas to be dicovered.




I'm sure that there is still a lot of conventional gas to be discovered but the difference is that AOE's csg reserves are already just that, Proved and Probable (2P) plus an even bigger number of 3P.

One of the biggest issues that I have with BPT is the number of shares on issue. $70m spreads pretty thinly over 1.036 billion shares - something less than 7 cents per share.

Disc: Still holding a few BPT.


----------



## Tysonboss1 (20 July 2009)

oldblue said:


> I'm sure that there is still a lot of conventional gas to be discovered but the difference is that AOE's csg reserves are already just that, Proved and Probable (2P) plus an even bigger number of 3P.
> 
> One of the biggest issues that I have with BPT is the number of shares on issue. $70m spreads pretty thinly over 1.036 billion shares - something less than 7 cents per share.
> 
> Disc: Still holding a few BPT.




Don't get me wrong I hold arrow as well, But I think at the moment BPT is better value. Aoe has less earnings per share but is 2.7 times the price, and as I stated earlier BPT benefits from any upside in AOE due to them holding AOE stock.


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## oldblue (20 July 2009)

Yes, the market is looking well ahead of current earnings but that's what markets do!
I hold both, with a heavy weighting towards AOE because I see them as having a lot more potential upside than Beach.


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## pointr (23 July 2009)

BPT today announced that a fully franked 2 cent special dividend will be paid in September to shareholders registered at the end of August. This is stated to be from the proceeds of the Tipton sale, but may also act as a bit of a sweetener for DLS holders to sell to BPT. My only whinge ( and a recurring theme in this thread) is that a DRP will be involved as usual for those who wish to participate so our pie will be divided into more and therefore smaller pieces.


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## Tysonboss1 (23 July 2009)

pointr said:


> My only whinge ( and a recurring theme in this thread) is that a DRP will be involved as usual for those who wish to participate so our pie will be divided into more and therefore smaller pieces.




Yes your piece of the pie shrinks ( in percentage terms ), but due to all the capital retained in the company the actual pie grows bigger.

for example if you owned 1% of the company, after the DRP you may only own 0.98% due to new shares beening issued, how ever the company is worth 0.02% more due to less funds been distributed.

so yes your piece of the pie shrinks, but over all the pie gets bigger, so you are really about the same + because the company anticipates that some shareholders will be using the DRP they will probally declare dividends larger than they would be had the DRP not existed.


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## pointr (23 July 2009)

Thanks for that explanation Tysonboss1, my chief whinge is not so much the DRP but the huge number of shares out there. I don't know if BPT will ever consider a share buyback if it makes money at some point in the future. My other gripe about this one is selling or not buying more Aussie CSG assetts and instead getting involved in projects in the Middle East where geopolitical risks are a factor. We hold some BPT,and I hope its share price goes up, it is however one I will sell quickly should we need some $$'s.


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## oldblue (23 July 2009)

You're starting to sound very much like me, pointr!

It's all very well having the capital pie getting bigger but we need that capital to provide bigger fillings (earnings) otherwise all we end up with is more pastry!
I would think that if BPT don't do a buyback now that they have the Tipton West cash, then it's unlikely that they'll be in a position to do so for some time. And no, I don't expect a buyback.


----------



## TheAbyss (9 September 2009)

Made a post earlier in another thread along the lines of "A rising tide raises all boats". BPT has defied that theory despite all efforts to raise itself and in fact has actually managed to buck the tide and retreat in face of an overall upwardly trending market.

I have posted the chart for BPT's last 3 months which is abysmal!  They have tried a lot of things here including special dividends, take overs, posting profits, showing large sums of cash on their books, removed all debt. What more can they do? Damned if i know as despite their efforts the market has sold them off at every opportunity. Do they really need to do a share buy back? Looks to me like they would be flooded with acceptances but then have no cash for further exploration etc.

Even a rising oil price hasn't helped (or maybe it has and the bad news is on the way). All i can deduce is that their must be something very ugly we cant see or a large percentage of the market just doesnt understand them. Is it their aging stoic management style (some of whom have all the presence of a pot plant) that is so uninspiring no one wants to buy in? 

Love to buy some of these guys but until there is some sort of compelling event either way you just cant justify it.

Does anyone have anything to share regarding Beach, positive or negative?


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## oldblue (9 September 2009)

I think its all been said before - bad luck(?) in the timing of buying out hedges: the propensity to sell good assets in favour of foreign adventures; the scatter-gun approach to foreign parts - Spain, Albania, Tanzania, Egypt; the steady but unexciting production from the Cooper; the emphasis on a large "contingent resource" of "unconventional gas".
But I think that the biggest hurdle to BPT's SP performing is its now quite massive share capital, well over a billion shares on issue now and set to grow with the special dividend and the final dividend being largely underwritten as to reinvestment. It's going to take some equally hefty profit results to mean much when they're spread over so many shares and assets like Tipton West can only be sold once!

Memories of last year's issue at $1-43 linger!


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## ShareDevil (9 September 2009)

When the rest of the market see these CSG projects topple over they may just see the wisdom in Beach's management. CSG is very expensive to get out and is not a dead set winner as has been described above. Oil in a barrel is. 

I'm still holding long term believing somewhat in their ability to find oil and develop  it. Here's hoping.


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## philly (30 September 2009)

Do I understand yesterdays ASX announcement correctly and is BPT proposing to take a 51% interest in EPR in exchange for releasing EPR from paying for its share of drilling the Fermat-1 well??
If this is so then IMHO this is probably a good move as the Otway Basin seems prospective for oil and gas but remains pretty much unexplored.
BPT is cashed up and may start spinning the drill bit.
What impact will this have on the BPT share price??
 I hold BPT


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## Julia (30 September 2009)

TheAbyss said:


> Made a post earlier in another thread along the lines of "A rising tide raises all boats". BPT has defied that theory despite all efforts to raise itself and in fact has actually managed to buck the tide and retreat in face of an overall upwardly trending market.
> 
> I have posted the chart for BPT's last 3 months which is abysmal!  They have tried a lot of things here including special dividends, take overs, posting profits, showing large sums of cash on their books, removed all debt. What more can they do? Damned if i know as despite their efforts the market has sold them off at every opportunity. Do they really need to do a share buy back? Looks to me like they would be flooded with acceptances but then have no cash for further exploration etc.
> 
> ...



Given all you have said above (and I've had a quick look at the dismal chart) can you say why you would 'love to buy some'.  There are dozens of terrific companies out there doing really well with rising SP's.  Why would you have an interest in a dog like this?





ShareDevil said:


> When the rest of the market see these CSG projects topple over they may just see the wisdom in Beach's management. CSG is very expensive to get out and is not a dead set winner as has been described above. Oil in a barrel is.
> 
> I'm still holding long term believing somewhat in their ability to find oil and develop  it. Here's hoping.



No place for 'hope' in the market, ShareDevil.  I'd make the same point to you as above.   How long will you hold if it continues on its downward trend?
Do you have an exit point?


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## TheAbyss (1 October 2009)

Julia said:


> Given all you have said above (and I've had a quick look at the dismal chart) can you say why you would 'love to buy some'.  There are dozens of terrific companies out there doing really well with rising SP's.  Why would you have an interest in a dog like this?
> 
> Because they have cash in the bank, revenue stream, prospects etc. On the surface they should be in an uptrend as they tick a lot of boxes for investment. They look undervalued on this basis hence maybe worth a speculative buy. But just cant do it.
> 
> ...


----------



## swm79 (1 October 2009)

TheAbyss said:


> Julia said:
> 
> 
> > Given all you have said above (and I've had a quick look at the dismal chart) can you say why you would 'love to buy some'.  There are dozens of terrific companies out there doing really well with rising SP's.  Why would you have an interest in a dog like this?
> ...


----------



## Julia (1 October 2009)

swm79 said:


> TheAbyss said:
> 
> 
> > what IS going on there???
> ...


----------



## Julia (1 October 2009)

TheAbyss said:


> Julia said:
> 
> 
> > Given all you have said above (and I've had a quick look at the dismal chart) can you say why you would 'love to buy some'.  There are dozens of terrific companies out there doing really well with rising SP's.  Why would you have an interest in a dog like this?
> ...


----------



## swm79 (1 October 2009)

Julia said:


> swm79
> 
> Could you please use the quote tags correctly so that you only quote under my name what I have actually said, which was "why would anyone invest in this company etc."
> You have made it look as though I have said all that is contained in the quoted portion which I certainly haven't.




1000 appologies Julia. i ususally do use the tags correctly i didnt notice his mistake - i quoted Abyss, his quote was incorrect ipso facto


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## nunthewiser (1 October 2009)

FWIW

i have entered BPT at 75.5 TODAY as a support bounce trade . it fits my criteria of a low % loss on MY stopout point .

i could be wrong and get stopped out but on MY personal view and watching of the action today its heading for a bounce from here

this is NOT a love affair , merely a 3 letter tradestock


----------



## Whiskers (1 October 2009)

Julia said:


> Why would you have an interest in a dog like this?




Pardon the pun, but coming from a 'dog' lover, that's gotta be saying something (with emphasis) about your feelings for BPT. I concur. It has caused me some grief in the past.

Btw, I don't hold any oil stocks atm. I just think oil has come back up too high to be sustainable in the longer term, what with all the prospects of carbon taxes, it may have just resusated the alternative fuel industry again.


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## Julia (1 October 2009)

Whiskers said:


> Pardon the pun, but coming from a 'dog' lover, that's gotta be saying something (with emphasis) about your feelings for BPT. I concur. It has caused me some grief in the past.
> 
> Btw, I don't hold any oil stocks atm. I just think oil has come back up too high to be sustainable in the longer term, what with all the prospects of carbon taxes, it may have just resusated the alternative fuel industry again.



Gidday Whiskers:  until you pointed it out, I didn't connect the cliche I used to real dogs. 

 I don't have any interest in this stock at all, just happened to be doing a quick flick through some of the stock threads and vaguely thought 'well, it's no wonder so many people lose money if they're into stuff like this when there are great companies out there performing well with a SP to match".


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## Nero64 (1 October 2009)

I wouldn't exactly call this company a dog. 

It is one of the top 5 oil producers with a good balance sheet. It is running a sustainable profitable business. 

People's perception of it is not great hence the low share price. The selling of the CSG assets hurt it and a lot of its interests are overseas which people don't care for. 

If people want to invest in it then I don't see the need to criticise or judge. It's more sound and safer than many listed ASX 300 companies.


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## oldblue (2 October 2009)

As an investment, BPT has been anything but "safe and sound" of recent times, as I'm sure that those shareholders who subscribed to the cash issue last year at $1.43, and are now down about 50% on that little exercise, would heartily agree!


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## Julia (2 October 2009)

Nero64 said:


> I wouldn't exactly call this company a dog.
> 
> It is one of the top 5 oil producers with a good balance sheet. It is running a sustainable profitable business.
> 
> ...



Nero, most people invest in companies in order to make money.
Hard to see that an investment in this company is achieving that.
You can have the nicest fundamentals in the world but if the market doesn't like the company for whatever reason, you are not going to make money.

There are undoubtedly worse companies out there, but my point was that there are many better ones, that's all.  Don't feel hurt!


----------



## motorway (2 October 2009)

Do not hold

But always an interesting stock

It is always doing well
brokers like it

Has EPS & DIV

Second tier
area people expect to find opportunity

*But THAT TREND
*

STILL it should be on a watch list I think



> When popular opinion is nearly unanimous, contrary thinking tends to be most profitable. The reason is that once the crowd takes a position, it creates a short- term, self- fulfilling prophecy.
> 
> _But when a change occurs, everyone seems to change his mind at once.
> _
> The Crowd, Gustave Le Bon




Now which is which ?

The trend as seen in the chart or the bullish rationale that is  often seen expressed...

That trend is really congesting atm


motorway


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## swm79 (2 October 2009)

trend is horrible... this is just the three month chart, but longer term you see exactly the same..... down down down.

it is a very strange one this one. i have held previously. 

oddly enough the volume spike in Sept is the largest EVER

It has a div in Dec but 1% yeild at CURRENT price - wouldnt have liked to have bought in any higher!

RSI signalling buy and it MAY rise from the ashes soon, but we'll need to see some MACD changes


----------



## nunthewiser (2 October 2009)

swm79 said:


> It has a div in Dec but 1% yeild at CURRENT price - wouldnt have liked to have bought in any higher!




it goes EX dividend on the 26/10/09 at 1 cent ........  

i hold as a trade only ,entry 75.5 as stated here........ not hit stops yet so happy to hold 

have a nice day


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## oldblue (2 October 2009)

Yes, Beach has become a share that people love to hate but to be fair, the yield is a bit better than 1%. Even excluding the recent special dividend I think it's running at about 2.4%.

I wouldn't worry about the SP running away (up). There's over a billion shares on issue now so any strength will attract plenty of sellers I would think, giving plenty of time for anyone wanting to get set on an uptrend.


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## Tysonboss1 (2 October 2009)

Julia said:


> You can have the nicest fundamentals in the world but if the market doesn't like the company for whatever reason, you are not going to make money.




BPT is defiantly not a dog,

The market won't ignore the fundamentals forever, 

I only hold a small parcel of BPT ($26,000), I won't bet on speedy capital gains but I think BPT will perform well, It's just a matter of time.


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## Nero64 (3 October 2009)

> There are undoubtedly worse companies out there, but my point was that there are many better ones, that's all. Don't feel hurt!




I sold my shares in BPT the last time it got to 87c for a break even. I knew the market had lost interest when it did the deal with Arrow. 

I still have it on my watchlist though. It's virtually debt free and I like oil and gas. However you have to respect the market and I wouldn't buy in at this stage.

Maybe not a dog. A better term would be an underperforming snail.


----------



## nunthewiser (3 October 2009)

All depends on when one buys the stock i reckon ......... BPT not been under performing for me as yet ...... fundamentally its far from a dog 

i suppose its all about timing really but i wouldn't still have been holding it from 1.43 or so ...i hold it now at 75.5 with an extra parcel at 73.5 stoploss at a clearing on volume at 71..whole different ball game in my book 

yes it may have underperformed the market of late but that does not necessarily mean it will continue to do so ....... 

just my 2 cents


----------



## nunthewiser (21 October 2009)

This thread been quiet since it bounced ...... any thoughts ? anyone trading it ? anyone buying for long term ?


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## Alex O'Grady (21 October 2009)

nunthewiser ... I have bought in as a longer term investor ... I can't exactly identify a specific reason other than BPT is producing, making money, not debit ridden and I think in the next few years energy producing stocks are going to flourish as we have a thirst esp: for petroleum.  Alternative energies will be popular and slower become more normalised - but I think we are still a fair bit away from that.


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## nunthewiser (21 October 2009)

Alex O'Grady said:


> nunthewiser ... I have bought in as a longer term investor ... I can't exactly identify a specific reason other than BPT is producing, making money, not debit ridden and I think in the next few years energy producing stocks are going to flourish as we have a thirst esp: for petroleum.  Alternative energies will be popular and slower become more normalised - but I think we are still a fair bit away from that.




Fair enough . I am only trading it at present BUT i personally think this little oiler runs rings around a lot of the more loved overhyped oilers out there with a similar market cap on a fundamental basis.

Once  it breaks out of this longer term sideways channel i think we will see this little co get a major firework up its derriere but in saying that , who knows how long it will track sideways for ........... more active investors might not view this as there cup of tea ........ I love long term sideways channels 

Good luck with it and personally think on a FUNDAMENTAL basis you have invested in a solid little company


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## oldblue (22 October 2009)

Why all this talk about "little company"?

The Beach has one billion and sixty-six million shares on issue! - and no doubt more to come from reinvestment of the final dividend, payable, finally in December. We'll need a big increase in future profits to make any impact across that giant number.

Which may account for the SP's tendency to trade in a tight channel.


----------



## Tysonboss1 (22 October 2009)

oldblue said:


> Why all this talk about "little company"?
> 
> The Beach has one billion and sixty-six million shares on issue! - and no doubt more to come from reinvestment of the final dividend, payable, finally in December. We'll need a big increase in future profits to make any impact across that giant number.
> 
> Which may account for the SP's tendency to trade in a tight channel.




It is little compared to other industry players suchas chevron, BP, shell and woodside.

I don't think the number of shares on issue is as big a factor as you keep mentioning,


----------



## Tysonboss1 (22 October 2009)

Interesting annoucement today in realation to beach partnering with sundance energy, a company that specialises in unconvetional natural gas from shale etc,


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## pointr (22 October 2009)

The simple fact that the BPT 'pie' is cut into so many little bits is a big fundamental issue. By the time any increase in the value of the company is spread across so many shares it doesn't make as much difference as it would with less shares on issue. The fact that they are doing something with unconventional gas is heartening but the US is oversupplied-just look at the current price. I've held BPT for a while now and am in the red, I hope they achieve something from the drill bit in Egypt shortly instead of pouring more dollars into the sand. As a counter to BPT's diverse spread around the world MPO is selling out of projects to concentrate its expertise where the highest potential gains are. As a counter to BPT's gas philosophy MOS is primarily targetting oil in the near future because until east coast LNG projects are running there will be downward pressure on gas prices due to the availability of ramp-up gas from CSG fields. That said I hope BPT's price does start climbing.


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## Tysonboss1 (22 October 2009)

pointr said:


> The simple fact that the BPT 'pie' is cut into so many little bits is a big fundamental issue. By the time any increase in the value of the company is spread across so many shares it doesn't make as much difference as it would with less shares on issue. The fact that they are doing something with unconventional gas is heartening but the US is oversupplied-just look at the current price. I've held BPT for a while now and am in the red, I hope they achieve something from the drill bit in Egypt shortly instead of pouring more dollars into the sand. As a counter to BPT's diverse spread around the world MPO is selling out of projects to concentrate its expertise where the highest potential gains are. As a counter to BPT's gas philosophy MOS is primarily targetting oil in the near future because until east coast LNG projects are running there will be downward pressure on gas prices due to the availability of ramp-up gas from CSG fields. That said I hope BPT's price does start climbing.




You should be looking at it's market Cap rather than the number of shares on issue. The number of shares does not really have a major impact.

For example -

 If a company earned $100 a year, Some people would believe a fair value for the company was $1000.

whether the company had 100 shares on issue at $10 each, 1000 shares on issue at $1.00 each or 10,000 shares on issue at $0.10 does not matter. the company is still being valued at $1000, and a $100 investment would still buy 10% of the company regardless.


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## oldblue (22 October 2009)

But it does determine how much the market is prepared to pay for those pieces. The more pieces, the lower the price.

But that's fairly evident here, isn't it?


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## Tysonboss1 (22 October 2009)

pointr said:


> The simple fact that the BPT 'pie' is cut into so many little bits is a big fundamental issue. By the time any increase in the value of the company is spread across so many shares it doesn't make as much difference as it would with less shares on issue.




Beach profit increasing 10% and making the share price move from 80c to 88c is exactly the same as an $80 company increasing it's profit 10% and it's share price moving from $80 to $88.


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## oldblue (22 October 2009)

Tysonboss1 said:


> Beach profit increasing 10% and making the share price move from 80c to 88c is exactly the same as an $80 company increasing it's profit 10% and it's share price moving from $80 to $88.




No problem with that.

The fact though is that BPT issued a lot of those extra shares at $1.43 not so long ago. Since then $50m has been spent on buying out hedges at the top of of the oil market; the CSG assets ( about 50% of the company's 2P reserves) have been sold, ostensibly because the market wasn't recognising their value in the SP; the SP continues to trade sideways.

So, is it just a case of the market not understanding BPT?


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## Alex O'Grady (22 October 2009)

nunthewiser said:


> Fair enough . I am only trading it at present BUT i personally think this little oiler runs rings around a lot of the more loved overhyped oilers out there with a similar market cap on a fundamental basis.
> 
> Once  it breaks out of this longer term sideways channel i think we will see this little co get a major firework up its derriere but in saying that , who knows how long it will track sideways for ........... more active investors might not view this as there cup of tea ........ I love long term sideways channels
> 
> Good luck with it and personally think on a FUNDAMENTAL basis you have invested in a solid little company




Nunthewiser - thanks for your input - yes I am looking at a longer term trade on this one - so your points are appreciated.


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## Tysonboss1 (22 October 2009)

oldblue said:


> So, is it just a case of the market not understanding BPT?




I think so, You also have to remember that the oil price has halved since the shares were trading over $1.40.

I believe beach is worth more than it's current price, So I am holding a few. 

Selling the CSG assets was not a bad move, I think they got a really good price and are in a stronger position having sold it. It's like a property developer selling off a finished project so as to finance his next 2 projects.


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## pointr (5 November 2009)

Yesterday around 1600 BPT announced in their weekly drilling report that a development well in Egypt had intersected a significant oil column 140mtrs?, 20 mtrs more than was prognosed. Their options did a bit of a jump on the close. Hopefully this may be the start of a return on the Egyptian investment and another positive that may start the share price moving in the right direction.


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## Paul Ellis (6 November 2009)

I lost patience with BPT a couple of weeks ago and got out...has gone backwards while everything has rocketed since march...not quite sure why it hasnt followed the other energy stocks up...???


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## riverred (6 November 2009)

Hi Paul Ellis.

I think the sharemarket is very disappointed that BPT didn't capitalise on a few excellent opportunities to make high value short-term capital gains. Recently, it proudly made a miserable 10% ($7M) capital gain on AOE when it could have made almost 40% ($28M) gain had it sold all the shares just a month later. Shortly thereafter, it made a 70% gain on disposing DLS when it could have been >300% had it sold just a couple of weeks earlier. Timing is everything, isn't it?

I suppose that's what happens when BPT’s board doesn't believe in speculative transactions. All its hedgings are taken as a form of insurance; or risk management, if you like. Hence BPT's reputation for being stable but boring. It's management style is too predictable for a market that thrives on the excitement of quick speculative profits and equates this thrill to sexy.

Not only doesn't BPT believe in speculative transactions, but I suspect it doesn't even understand the value of TA. Instead, FA would be its forte. 

Despite all of BPT's predictability, we should also bear in mind that it has huge unrealised gains in its $multi-M hedging in USD and 1M boe in floor and collared oil prices.

Now that the Egypt oil drilling (BPT 20%) has returned great results and also that PTR has been granted the $67M Fed. funds for hot rocks technology development (BPT 36%?), the market should begin to re-rate BPT's sp.

But it all still depends on whether these are good enough to qualify as sexy. I believe that in the longer-term, a massive blast of Lynx sex appeal will come from Tanzania.


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## oldblue (7 November 2009)

Interesting analysis, rr.

There was a time of course when BPT management *did* take a big speculative position by paying $50m to settle hedges, largely inherited from the Delhi purchase, in order to benefit from the record PoO at the time. Unfortunately, the price dropped precipitately shortly thereafter so as well as the $50m being wasted, the hedge protection was no longer there!

I wonder if BPT management has been scarred by this experience to the extent of adopting an extremely risk-averse stance. Somehow, I don't think that the average o and g investor would want to see that.


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## riverred (7 November 2009)

Yes, BPT's decision to remove its Delhi oil price hedging was amusing in a frustrating way. Reg Nelson never really explained to the shareholders what had possessed the management and board to give them courage to plunge into dangerous waters without preparation or safety net. Was it the high-fee-based advices of merchant bankers? Pity, that. Anyway, I'm inclined to agree with you that BPT is now suffering from a once-bitten-twice-shy syndrome.

ILU made a similarly poor decision when it decided to hedge against the USD after years of enduring criticisms from analysts and shareholders that its unyielding unhedged stand had caused it to absorb ongoing huge unrealised forex losses. And what happened after ILU decided to implement forex risk management? The USD crashed and ILU missed out on the huge forex gains. Small wonder that ILU sp has not regained the $7-level.

So, shareholders should beware when the management and board decide to venture into areas that are beyond their depth.


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## riverred (13 November 2009)

Interesting that BPT has finally sold its remaining DLS shareholdings today; and on initial analysis, it seems to have done very well. 

The sale of all 393,873,344 DLS shares for a total proceeds of $21,626,146 is approximately equivalent to $1.48 per BPT share. The total no. of BPT shares issued in the 1-for-27 unsuccessful takeover attempt was 14,587,902. 

Ironically, BPT has made an 82% "capital gain", when compared to its market price of 81c at the time of the takeover. Good work, Reg.


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## oldblue (14 November 2009)

Yes, but I don't think that that was Reg's intention when the takeover bid was made.

Another way of looking at the capital gain on the transaction is that it represents less than one cent per share spread across BPT's 1b odd shares. But I guess every little bit helps!


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## riverred (15 November 2009)

As I see it, BPT has indicated a fairly clear approach to its operations. It doesn't seem interested in pure investment holdings, as demonstrated by the sale of all its AOE & DLS shares. But it's definitely interested in investing into expn., devn. & prodn. projects with ADE, PTR and ICN.

Analysing the rationale for the sale of AOE & DLS shares, it would appear that the board believes that BPT can achieve greater returns from its hands-on operations than can AOE and DLS. Given BPT's disinterest in pure investment holdings, capital gain would not be a major factor for decision-making by the board.

That may be a good move in the case of selling all of DLS shares. If DLS does achieve success in its exploration, then its sp is likely to touch 10c again. A modest 5% return (on sp) would require NPAT of $10M. An impressive 10% return would require NPAT of $20M. Unless they do a "Karoon Gas" act in the near future, I doubt that DLS can match BPT's return. One can say that DLS is suffering from twice the "ailment" of BPT; too many shares on issue. What is it with boards that like large qty of shares on issue? Isn't it better to have 100M shares at $8.00 each than 1B shares at 80c each? Liquidity is a double edge sword in that the shares can become subject to shorting, etc.

As for its AOE shares, despite having sold them all, BPT may still have a couple of aces up its sleeves in terms of AOE announcing upgrades for the resources purchased from BPT in the next few years.


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## oldblue (15 November 2009)

Both the AOE and DLS shareholdings were "accidental" in a sense.

AOE because that was part of the consideration negotiated in the sale of the Tipton West interest and DLS because BPT was left with a holding from the failed takeover attempt. So I can see that it makes sense for BPT to quit both of these in favour of cash to concentrate on their own projects.

As for the 1b plus shares on issue I would think that the market wouldn't take such a dim view of that if the SP wasn't so low and especially as a large slice was raised at $1.43 to fund the $50m paid to settle the Delhi hedges. Effectively, money wasted. A share consolidation now would probably be seen as admitting that the company has lost a lot of shareholder value in the last couple of years, so it probably won't happen.


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## riverred (15 November 2009)

I can't remember the source of this quip I read recently: "The market can remain irrational longer than investors can remain solvent". 

But it certainly applies to shareholders of BPT if they had purchased shares at $1.43 through margin loans. The $50M raised to clear the Delhi hedges and which was seen by the market to be a waste of cash had a negative impact of 5c ps on the bottomline. BPT's sp dropped >60c. Of course, we need to factor in the 50% drop in oil prices as well. Even so, BPT had compensated for the fall in oil prices using various strategies to maintain its NPAT at a high level. 

Faithful shareholders will just have to wait for the re-rating and appreciate the dividends in the meantime.


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## oldblue (15 November 2009)

Yes, as far as the market is concerned, perception is reality.

Incidentally, it was John Maynard Keynes.


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## Tysonboss1 (15 November 2009)

I think the fact the BPT has a Billion + shares on issue is a complete "Moo Point" and means nothing when it comes to weighing the value in this company. I actually think it can be a positive, I think a companies shares have a much greater chance of rising from 80c to $1.60 than from $80 to $160.

Any way on a company level I think BPT has done a fantastic job recently and is the pick of the sector.

I am a value investor, and when I look at BPT I see a company that could easily grow to be worth $3.00 in coming years.


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## prozac (16 November 2009)

What's a "Moo Point" Tysonboss1 ,........... something you might use "down on the farm"? 

L'il Abner, tell those cows to stop arguing.


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## Tysonboss1 (16 November 2009)

prozac said:


> What's a "Moo Point" Tysonboss1 ,........... something you might use "down on the farm"?
> 
> L'il Abner, tell those cows to stop arguing.




"Moo point" is a term used to describe something that doesn't matter or means nothing, Like a cow's opinion, it's nothing it's just "Moo".

The term comes from joey from friends.


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## skc (16 November 2009)

Tysonboss1 said:


> I think the fact the BPT has a Billion + shares on issue is a complete "Moo Point" and means nothing when it comes to weighing the value in this company. I actually think it can be a positive, *I think a companies shares have a much greater chance of rising from 80c to $1.60 than from $80 to $160.*




Surely this is also a Moo Point! Can you explain the logic (if any) between the two? 

(A). I think the fact the BPT has a Billion + shares on issue is a complete "Moo Point" and *means nothing *when it comes to weighing the value in this company

(B). I think a companies shares have *a much greater chance *of rising from 80c to $1.60 than from $80 to $160.


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## Tysonboss1 (16 November 2009)

skc said:


> Surely this is also a Moo Point! Can you explain the logic (if any) between the two?
> 
> (A). I think the fact the BPT has a Billion + shares on issue is a complete "Moo Point" and *means nothing *when it comes to weighing the value in this company
> 
> (B). I think a companies shares have *a much greater chance *of rising from 80c to $1.60 than from $80 to $160.




A, Some people time after time keep qouting the fact that BPT has a billion shares on issue as a disadvantage, I fail to see how it matters, whether a $1000 company has 2 x$500 shares or 10 x $100 shares or 10,000 x 10c shares means nothing they all value the company at exactly $1000.

B, Many people believe that as a companies share price reaches high levels like $80 there is some resistence from investors to move the price higher at the same rate as they would a much cheaper share.

Hence why some companies like tol for example conduct share splits to reduce their share price, Tol has conducted about 4 share splits every time the share heads over $20,.. they obviously don't mind increasing the total shares on issue so as to keep the price lower and hopfully trending up.


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## oldblue (16 November 2009)

Yes, it works well for TOL - once the SP has gone up!

Quite a different matter though with a stagnant SP. And yes, I'm one of "those people" who reckon BPT has far too many shares on issue.


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## riverred (16 November 2009)

Investopedia has an interesting article discussing the rationale for share splits to increase liquidity. It's easy enough to google for the info.

Tb1 presented one side of the argument; and offers examples such as the ASX blue chips. On the other hand and according to Investopedia, Warren Buffet's Berkshire Hathaway shares have never once been split. They are now priced at $100,000.00 ps.

It's actually a rather complex issue. In the end, investors will have to decide whether to stay with classical financial theory or go along with recent developments in behavioral finance. I suspect the former would align closer to FA while the latter, to TA.


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## oldblue (17 November 2009)

Nothing to do with Beach of course but Berkshire Hathaway has announced that it is to split its Class B shares, the commonly traded class, 50 to 1. The rationale seems to be to facilitate the takeover of the Burlington Northern Santa Fe Railroad company, via a share swap.


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## Paul Ellis (18 November 2009)

announcement this morning that they struck oil somewhere -

http://imagesignal.comsec.com.au/asxdata/20091118/pdf/01012118.pdf

anyone know how significant this is?


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## riverred (18 November 2009)

Chiton-1 (Cooper basin) reserve of 0.4M boe at P10-P90 is not much to write home about, really. BPT's sp didn't even get a rise from BPT's recent announcement of the far more impressive Egyptian drilling results. 

At risk of coming across as someone who's flogging a dead horse: DLS has 2B shares on issue, BPT has 1B. Alright, let's have a go at the number crunching. 0.4M boe is 400,000 x A$88.00 = $35M igv. Let's be most charitable and assume that the net profit margin to igv is 50%. This gives an NPAT of $17.5M. Multiply $17.5M by BPT's % share in Chiton-1 and then divide the result by 1B shares. Approx. 1c to the bottom line. Underwhelmingly wow...


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## oldblue (19 November 2009)

There doesn't seem to have been any interest generated today by Beach's news of a possible deal to develop its Cooper Basin unconventional gas resource.

http://news.theage.com.au/breaking-...oleum-in-deal-with-us-firm-20091119-inrv.html


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## oldblue (25 November 2009)

Good news from BPT's Egyptian prospects today.

BPT SP responds with a half cent increase!


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## pointr (25 November 2009)

Perhaps all these little bits of positive news will one day accumuate with some rising profits and cause this lumbering / slumbering companies share price to rise. I've liked a lot of the announcements recently, I don't particularly like the soveriegn risk of some of the overseas moves. The name change may be reasonable, I hope it doesn't waste too many dollars.


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## Jonathan111 (15 December 2009)

pointr said:


> Perhaps all these little bits of positive news will one day accumuate ... and cause this lumbering / slumbering companies share price to rise. ... The name change may be reasonable, I hope it doesn't waste too many dollars.





90c today... Why such a rise over the last few weeks.. I got my one cent dividends.. thanks..


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## Not Rene (5 January 2010)

Creeping up at last, around 95c today. Finally might be going somewhere.

Still got a fair bit to go before I can see a profit though :-/


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## Not Rene (7 January 2010)

$1.015!! some of my parcel are now in profit! hallelujah! Highest point in 12 months. 
maybe I will be able to pay back my parents the money I owe this year after all


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## Ozymandias (7 January 2010)

Not Rene said:


> $1.015!! some of my parcel are now in profit! hallelujah! Highest point in 12 months.




Yeah but why? Nothing has really changed with the company, if this is just a turn in market sentiment it could go back the way it came very easily...

A few reasons I can think of:


Recent strength in oil and gas prices
Excitement over the shale gas prospect
More and better media coverage / broker reports


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## pointr (7 January 2010)

Several weeks ago BPT started to drill NS377-4 in Egypt and said they would provide no further updates as the consortium viewed this well as commercially sensitive. They will shortly spud NS377-5 so I wonder what has resulted from the drilling at NS377-4 It's nice to see BPT going up, unlike a previous post we're not yet back in profit, but then again all we owe our parents is 'thanks'


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## Not Rene (22 January 2010)

Just when I thought I was almost out, the bottom falls out instead.

How long must I suffer! In three days they lose 3 months of gains.

I hope they have a decent Dividend to look forward too


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## lukelee (22 January 2010)

not only the bpt, a lot companies price falls, cer, ctp, bhp， rio ... does anyone know why?
and bpt quarter report just released, is there any bad news in the report?


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## Tysonboss1 (22 January 2010)

Not Rene said:


> Just when I thought I was almost out, the bottom falls out instead.
> 
> How long must I suffer! In three days they lose 3 months of gains.
> 
> I hope they have a decent Dividend to look forward too




Guess you have to decide whether you chose bpt as an investment or a short term speculation.

if you are trying to be an investor then you shoudn't let short term market flucuations bother you.


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## Tysonboss1 (22 January 2010)

Not Rene said:


> Creeping up at last, around 95c today. Finally might be going somewhere.
> 
> Still got a fair bit to go before I can see a profit though :-/






Not Rene said:


> $1.015!! some of my parcel are now in profit! hallelujah! Highest point in 12 months.
> maybe I will be able to pay back my parents the money I owe this year after all






Not Rene said:


> Just when I thought I was almost out, the bottom falls out instead.
> 
> How long must I suffer! In three days they lose 3 months of gains.
> 
> I hope they have a decent Dividend to look forward too




I think you are watching the stock price a bit much and letting the stock price affect your mood 

you shouldn't judge a company by the day to day price movements of it's stock. 

Think about the reasons you bought in the first place, If it was to make a quick buck then you are a speculator betting on market movements which is the same as betting on a horse race.

If you bought because you reserached the company and formed an opinion that the company was going to beable to generate good earnings over time from their assets, then you are an investor and you have to ask your self what has changed, if nothing has changed then it's a buying oportunity.

Just because yesterday the people that were selling wanted $1 for their shares and today some other guy is willing to sell out for 88c does not mean that the companies assets have stopped earning.

Think of it like this,... If you bought a farm for $100K because you knew it would produce about $25k in earnings a year for the next 10yrs and you were happy about that, then one week after you bought a real estate agent told you that because a few of your neighbors were selling you would probally only beable to sell out for $90K so you property had dropped 10%, but this 10% drop has nothing to do with the farms earning capacity so why would you let it bother you, 

It would only bother you if you were a farm price speculator not an investor.


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## oldblue (22 January 2010)

lukelee said:


> not only the bpt, a lot companies price falls, cer, ctp, bhp， rio ... does anyone know why?
> and bpt quarter report just released, is there any bad news in the report?




No problems with the quarterly as far as I can tell.

The market is just following Wall Street's sizeable fall with renewed concern regarding the sustainability of world-wide recovery.


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## lukelee (12 February 2010)

the sp droped over 20% since Jan 2010, is there something wrong at beach?? management..??


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## oldblue (12 February 2010)

I suggest that you browse back over the last 6-12 months' worth of posts on this thread.

BPT's strengths and weaknesses have been pretty well canvassd over this period.


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## lukelee (19 February 2010)

ummm, I didnt see any obvious weakness there, someone said they have 1.04B shares, but I don't see why this is a weakness.
p/e ratio: 11.97
p/b ratio: 0.57
eps: 6.2
dividend: 3.9%
sales: -12.8% 2009 is $0.56/share, 2008 is 0.65/share.
cashflow: -24.9% 2009 is 16.8cents/share, 2008 is 22.3cents/share.

The portfolio is not perfect, but it is not a "dog", right?


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## gooner (19 February 2010)

lukelee said:


> ummm, I didnt see any obvious weakness there, someone said they have 1.04B shares, but I don't see why this is a weakness.
> p/e ratio: 11.97
> p/b ratio: 0.57
> eps: 6.2
> ...




When I looked at it there were some very strange adjustments to get to normlised earnings for the PE ratio. So not sure I would rely on a p/e of 11.97.


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## oldblue (19 February 2010)

lukelee said:


> ummm, I didnt see any obvious weakness there, someone said they have 1.04B shares, but I don't see why this is a weakness.
> p/e ratio: 11.97
> p/b ratio: 0.57
> eps: 6.2
> ...




There are some very valid reasons why the "growth" to a billion plus shares on issue is a concern. The most obvious of course is that eps get diluted into smaller chunks than previously but the most telling, IMO, is that to get there, BPT has had a series of cash issues in recent years, the most recent at $1.43 if memory serves me correctly. The proceeds were used to buy out some hedges inherited from the Delhi takeover. Unfortunately, this was done at the height of the oil price spike " to take advantage of current high oil prices". It's all history now but the boom didn't last and buying out this cover was a "loss/loss" in that the $50m was wasted and the cover was no longer there!

So there are a lot of disgruntled shareholders still out there with the SP in the low 70c's!

None of this should concern a _potential_ investor of course but there are other issues to consider. Be careful with historical NPAT, EPS and P/E figures. There's been a lot of asset sales in recent years which can't be repeated, eg selling down the BMG field interest - which in view of recent developments looks to have been a good move - selling off their CSG interest at Tipton West - the jury's still out on that.

BPT are placing a lot of faith in their unconventional gas resource - not a reserve - and in being able to develop it at an economic cost. They also have highly risky interests offshore and the market may worry that too much cash gets spent chasing these.

I don't regard BPT as a dog by any means. But I don't see any compulsion to invest while the SP stagnates. Personally, I've sold down my holding over the last year or so and will wait for some strength in the SP before considering adding to it again.


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## tunrida (19 February 2010)

oldblue said:


> There are some very valid reasons why the "growth" to a billion plus shares on issue is a concern. The most obvious of course is that eps get diluted into smaller chunks than previously.........




Blue - surely it is only a concern IF the dilution doesn't earn - if it does the EPS holds or as intended increases the EPS.

Another way of looking at this is that if I have a 100 shares and do not incease my holding when the co raises money and doubles the no shares on issue, I have not lost if their EPS and DPS (and price of course) hold or increase.
DPS and PPS being the two tangibles - EPS an indicator

atm EPS, DPS have positive growth indications, and PPS? - well back to 70c is a long term support level for this co so a buying op for many

I do not hold


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## oldblue (19 February 2010)

> Blue - surely it is only a concern IF the dilution doesn't earn - if it does the EPS holds or as intended increases the EPS




Fair point  and I must admit that I havn't put BPT's "normalised" earnings to the test there. There have been several chunky profits from asset sales in successive years - 10% of BMG; another 10% of BMG; interest in CSG - which tends to muddy the waters.

The market clearly doesn't think that the new capital is being put to profitable use. The market may be wrong here but I don't see any reason to take it on while the SP trades sideways.


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## Tysonboss1 (19 February 2010)

oldblue said:


> The market may be wrong here but I don't see any reason to take it on while the SP trades sideways.




Don't trust a single thing that Mr Market says, He is a manic Drepressive who acts only on short term information. 

Mr Market is there to serve you, not instruct you.


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## oldblue (19 February 2010)

Tysonboss1 said:


> Don't trust a single thing that Mr Market says, He is a manic Drepressive who acts only on short term information.
> 
> Mr Market is there to serve you, not instruct you.




Each to his own but paying heed to Mr Market in this instance got me out of most of my BPT at an average SP of a shade under $1. ( I must admit that I'm not always this disciplined!)

I'm happy to stay out until an uptrend develops.


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## Not Rene (24 February 2010)

listened to the boardroom radio broadast for the December 2009 half year results. Not very exciting for short term but there does seem to be some possible big things coming within next 3 to 5 years. I'm no genius investor of course but I think I'm going to sit on my holdings until around 2014 lol


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## prozac (27 June 2010)

Sold all my beach shares (around 300,000 in total) and have since doubled my money on paper. Don't know why they are going sideways for so long but i am very happy I made the decision to cast them adrift.


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## Not Rene (29 June 2010)

prozac said:


> Sold all my beach shares (around 300,000 in total) and have since doubled my money on paper. Don't know why they are going sideways for so long but i am very happy I made the decision to cast them adrift.




Well Done Mr Prozac. I have been dithering about doing the same with my Beach and CSL, both of which havent done a thing for 2 years. 

When I think of all the things I should have done in that time!


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## pointr (6 July 2010)

Ah hindsight. I've actually been a bit encouraged by the noises / releases BPT has been doing of late, making some progress in Africa, but more so by the shale-gas potential in the Cooper Basin. They are now no longer at the top of my list to sell. Plans and ideas are fine but I think it will be a case of "show me the money" or reserves before the market puts much value on these announcements


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## Not Rene (19 August 2010)

Down to 65 cents today, what joy 
It may be best if I just forget I actually own shares for a while


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## So_Cynical (8 October 2010)

Is everyone asleep at the wheel here? Beach has started drilling into a massive shale deposit in the Cooper basin looking to be the first (i think) Aussie energy company to find commercial quantity's of shale gas in Australia.

Now i haven't been following BPT for long and don't know how inclined they are to self promote, but it do like what i have read about this deposit...and that's the first thing i like about it, that its a deposit..so its not like its a lucky dip drilling exercise, they already know the shale is there and they know there's lots of it.

Things to like about Beach

Nappamerri Trough shale has potential to host 200 Tcf (Gorgon 40 Tcf) 
Nappamerri Trough shale measures 150> meters thick over 10.000> km².
Nappamerri Trough shale has many similarity's to successful US shale plays.
Nappamerri Trough shale located in the middle of Cooper basin gas infrastructure.
Nappamerri Trough shale has direct pipeline access to east coast markets.
BPT market cap has grown from 15 mill to 700> mill over the last 8 years.
Number 6 or 7 Oil/Gas producer in Australia...positive cash flow & reserves.
Has a 7 year unbroken history of twice yearly dividend payments.
No debt...strong revenues.

Some presentations etc.

Cooper Basin Shale Gas Review, Oct 2010
http://bpt.irmau.com/IRM/Company/Sh...ageName=Amended Cooper Basin Shale Gas Review

BBR presentation from April this year.
http://www.brr.com.au/event/65351/cooper-basin-shale-gas

Another neat little overall view video.
http://www.brr.com.au/event/67301/partner/brr

The 2 year chart show lots and lots of support at current price (66 - 69) and would suggest the recent short down trend is over, now consolidating sideways and ready to take off...chart also suggests BPT gives many in and out (easy 15 > 17%) opportunity's, and thus great for a position builder like myself...in today big time at 0.67
~


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## oldblue (9 October 2010)

Maybe...... but I'll wait for the takeoff. The scars from the last capital raising at $1.46 still linger around the market.


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## bacon (20 October 2010)

Well Old Blue, I wish I could say I'm waiting for them to take off, as I've been on this slippery slide since those $1.46 days. The company sure is good at pushing it's own barrow and all of the projects they have going sound like it is a gold mine. But from my perspective now, I'd like to see a decent upwards and consistent trend occur before I'd invest any more in BPT.
Todays' volume is the highest since February on a big drop as well.


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## oldblue (21 October 2010)

The high volume and the SP movement can probably be traced to UBS downgrading BPT yesterday to Neutral.

I'm certainly not buying, either.


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## So_Cynical (21 October 2010)

I'm tempted to buy more but that would elevate BPT to my biggest single holding and make it over 11% of my portfolio, and with a portfolio of 20 stocks....that's not acceptable.

I mite take a little re-position if it drops below 0.59 .. i cant help but think that in 6 months time, this dip and the last one will look like the perfect entry's.


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## Tysonboss1 (21 October 2010)

So_Cynical said:


> biggest single holding and make it over 11% of my portfolio, and with a portfolio of 20 stocks....that's not acceptable.




I don't think there is anything wrong with having certain stocks over weight inside your portfolio.

I have 11 stocks currently, and my biggest holding makes up 55% of my holding.

Warren buffett recommends that investors who are willing to dedicate time and effort to their investing need not hold more than 6 companies and 50% should be in their favourite.


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## oldblue (21 October 2010)

> Warren buffett recommends that investors who are willing to dedicate time and effort to their investing need not hold more than 6 companies and 50% should be in their favourite




That's probably ok for Warren Buffett.

The problem is that a lot of us mere mortals don't have have the skills of a WB!

I'm happier with 15-20 stocks - and BPT doesn't figure there at present.


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## Tysonboss1 (21 October 2010)

oldblue said:


> I'm happier with 15-20 stocks - and BPT doesn't figure there at present.




would an index fund be easier to manage for you. it would probably have similar returns.


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## oldblue (21 October 2010)

Tysonboss1 said:


> would an index fund be easier to manage for you. it would probably have similar returns.




I don't think so. I've been doing this for about 40 years now and I like to make my own mistakes!



And recent profits from IGR and BTU in excess of 100% in a matter of months give me some confidence.

Cheers


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## So_Cynical (10 December 2010)

So_Cynical said:


> Is everyone asleep at the wheel here? Beach has started drilling into a massive shale deposit in the Cooper basin looking to be the first (i think) Aussie energy company to find commercial quantity's of shale gas in Australia.
> 
> in today big time at 0.67




Out today for a lousy 8.25% profit  on a day when BPT put on 15% intra day and finished up 10% for the close  on the one hand im lucky i moved my sell up to 0.73 from 0.72 the other day  but so pissed of i missed a bigger profit, easy money.

And what's with the big move up today on a nothing announcement :dunno: i mean its not like its anything the market didn't know, it was already a massive shale deposit and its still a massive deposit...except now its just a little thicker.

Anyway ill live in hope for a triple bottom so i can buy more at under 0.65 so i can build my free carry and long term exposure to this great company.

http://bpt.irmau.com/IRM/Company/Sh...D=66581333&PageName=Shale Gas Drilling update


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## gordon2007 (10 December 2010)

This one has been catching my attention a lot lately. I mentioned a while ago about 'shale' and this one is ticking all my boxes so far. Not that this makes a difference but I live right near their coporate office, would be very easy to keep a watch on them. 

Cyn...how long did you hold them for?


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## So_Cynical (10 December 2010)

gordon2007 said:


> Cyn...how long did you hold them for?




Held for about 60 days...pissed off cos i told myself to just forget this position and just treat it as my 1 high risk commodity stock, and yet i really needed to sell something and recycle my capital, i really though BPT had some potential to range between the low 60's and low 70's and could see myself doing a quick out and back in. :dunno: and still sort knew it was gona spike up at some point in time.


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## Tysonboss1 (10 December 2010)

So_Cynical said:


> Held for about 60 days...pissed off cos i told myself to just forget this position and just treat it as my 1 high risk commodity stock, and yet i really needed to sell something and recycle my capital, i really though BPT had some potential to range between the low 60's and low 70's and could see myself doing a quick out and back in. :dunno: and still sort knew it was gona spike up at some point in time.




I think you will have a chance to buy back in. Shale gas production is still a while off. I hold this company. So I believe in the whole shale gas story. But it's going to take time for the market to recognize it. I think it will be two steps forward and one step back for some time. Esspecially because I think there is going to be a short term glut in the gas market till we get some decent LNG capacity on line


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## Miner (11 December 2010)

Tysonboss1 said:


> I think you will have a chance to buy back in. Shale gas production is still a while off. I hold this company. So I believe in the whole shale gas story. But it's going to take time for the market to recognize it. I think it will be two steps forward and one step back for some time. Esspecially because I think there is going to be a short term glut in the gas market till we get some decent LNG capacity on line




I believe today's spike is generated from buy signal by one newsletter and the good ASX announcement by BPT.
I am a bit doubtful on that newsletter (subscribers of the newsletter know which one I am referring to)is just creating hype (IMO) to compensate some of their wrong calls on short sell verdict for a month.
DYOr - do not hold BPT


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## So_Cynical (11 December 2010)

Miner said:


> I believe today's spike is generated from buy signal by one newsletter and the good ASX announcement by BPT.
> I am a bit doubtful on that newsletter (subscribers of the newsletter know which one I am referring to)is just creating hype (IMO)




I could care less about a newsletter  but the "thickness" announcement really wasn't much...Beach was expecting a intersection of 60 meters and it turned out to be 200 meters, and if they bang another hole down 2 or 3 kms away it mite only be 40 meters thick then were back to where we started 6 months ago.

They knew the shale was there and they knew there was hundreds of millions of tonnes of it...and after the announcement there's still hundreds of millions of tonnes of it.


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## Tysonboss1 (13 December 2010)

After doing some reasearch over the weekend I have realised that this stock is better value than I first thought. It's net assets are $1.28 / share, Based on this figure last years cash flow only = 9.6% (bad weather had an effect on cashflow).

If I discount the value of the assets to bring the return up to 12.5% then that values each share at $0.96, seems like a bit of a bargin. especially if you believe earnings and net assets are going to be heading up as trading conditions strengthen and shale gas it prooved up.


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## Greedy_Kev (17 December 2010)

So_Cynical said:


> Anyway ill live in hope for a triple bottom so i can buy more at under 0.65 so i can build my free carry and long term exposure to this great company.




hehe same here , i just sold a portion a large of BPT, i think its a great company but, i think the market is going to be shaky next year with a lot of trouble coming out of Europe, which i think is in more trouble than US.


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## GumbyLearner (17 December 2010)

Greedy_Kev said:


> hehe same here , i just sold a portion a large of BPT, i think its a great company but, i think the market is going to be shaky next year with a lot of trouble coming out of Europe, which i think is in more trouble than US.




I see a broad based recovery in LNG, LPG and Oil producers in 2011.  But I don't rate BPT.


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## Trader Paul (18 December 2010)

Hi folks,

BPT ... will be looking for a strong close to finish the coming week,
as a positive time cycle comes into play, around 23-24122010 ..... 

have a great day

  paul



=====


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## Trader Paul (23 December 2010)

Trader Paul said:


> Hi folks,
> 
> BPT ... will be looking for a strong close to finish the coming week,
> as a positive time cycle comes into play, around 23-24122010 .....
> ...






Hi folks,

BPT ... as expected, it is ticking up nicely, coming into week's end ... 

have a great Christmas all

    paul



=====


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## teabagger (27 February 2011)

Is it time to resurect this thread as the oil price is going north? Surley something has been happening at the beach.


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## oldblue (28 February 2011)

teabagger said:


> Is it time to resurect this thread as the oil price is going north? Surley something has been happening at the beach.




The interim result should be out within a day or so - last year's was on 24 February.

I'd expect lower production due to flooding; lower profits; optimistic talk about shale gas, geothermal and Tanzania; no mention of Egypt, Sudan, Albania.


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## So_Cynical (5 April 2011)

So_Cynical said:


> (8th-October-2010) *Is everyone asleep at the wheel here?* Beach has started drilling into a massive shale deposit in the Cooper basin looking to be the first (i think) Aussie energy company to find commercial quantity's of shale gas in Australia.
> 
> in today big time at 0.67




BPT up around 5% today on the back of the Holdfast -1 Shale Gas results announced by Adelaide energy....The Roseneath shale intersection encountered by the 2 wells is over 350 meters thick and the 2 wells are over 15 clicks apart, and that lady's and gentlemen equally one **** load of shale. 

Now the waiting game for the gas results from the core samples begins...BPT traded above $1 today for the first time since Nov 2008, and if the core sample results are any good the SP may well take off, serious blue sky stuff IMO.

Blue sky potential because Beach expected the shale to be 150 meters thick and estimated 200 Tcf, we now know its more than double that at over 350 meters thick so potential for 400 > 500 Tcf  and that would make this deposit perhaps 10 times the size of Gorgon....10 times!

And it was just Tyson and i that could see the potential :dunno: just goes to show that the market and well  i suppose its participants can and do get it wrong, BPT traded for a day or 2 at under 60 cents just 6 months ago.  the market may be forward looking, factoring in stuff, but sometimes the market behaves like some sort of duffus village idiot...or like someone with too much money with a hole in their pocket just walking along oblivious to what's happening. 


http://www.beachenergy.com.au/IRM/C...D=66581333&PageName=Shale Gas Drilling update

http://www.asx.com.au/asxpdf/20110405/pdf/41xvsz7t2wh3k5.pdf
~


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## Not Rene (13 April 2011)

I  hope you are right cause I bought these as a short term trade over 2 years ago and would like to move out of my crappy apartment into a villa before i retire


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## teabagger (13 April 2011)

Not Rene said:


> I  hope you are right cause I bought these as a short term trade over 2 years ago and would like to move out of my crappy apartment into a villa before i retire




Surley you made some at $1.10. Two year short term, hope your young. I'm looking to get back in at <.95


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## Garpal Gumnut (13 April 2011)

So_Cynical said:


> BPT up around 5% today on the back of the Holdfast -1 Shale Gas results announced by Adelaide energy....The Roseneath shale intersection encountered by the 2 wells is over 350 meters thick and the 2 wells are over 15 clicks apart, and that lady's and gentlemen equally one **** load of shale.
> 
> Now the waiting game for the gas results from the core samples begins...BPT traded above $1 today for the first time since Nov 2008, and if the core sample results are any good the SP may well take off, serious blue sky stuff IMO.
> 
> ...




I must admit I missed this one, a good example of chart watching for profit sc

gg


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## noirua (1 June 2011)

Bonk said:


> Euroz Research states today , Myponga-1 success will add 15c to their current valuation of 39c . BPT is currently 28.5c in this depressed market. Myponga-1 is tipped to hold 10mmbbloe.
> Also, BPT has currently 37m dollars cash ...for acquisitions?




Bonk, 7 years ago you saw BPT cheap at 28.5c and they now stand at a $1.00, how right you were. Another poster said they'd put their money for a house in BPT - now their $200,000 is about $700,000 - well done them as well.

As to now, BPT are about 7% off their recent 2011 peak and have had continued success on the Western Flank with Hanson-1 with a new field oil discovery, the first well in a 5 well exploration drilling program in PEL 91 in The Cooper Basin, SA.

BPT are certainly one to add to your monitor with oil prices in general holding up well.


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## noirua (12 July 2011)

noirua said:


> Bonk, 7 years ago you saw BPT cheap at 28.5c and they now stand at a $1.00, how right you were. Another poster said they'd put their money for a house in BPT - now their $200,000 is about $700,000 - well done them as well.
> 
> As to now, BPT are about 7% off their recent 2011 peak and have had continued success on the Western Flank with Hanson-1 with a new field oil discovery, the first well in a 5 well exploration drilling program in PEL 91 in The Cooper Basin, SA.
> 
> BPT are certainly one to add to your monitor with oil prices in general holding up well.




BPT are now in 'Trading Halt' together with JV partner ADE. News on Holdfast-1 is due.


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## oldblue (12 July 2011)

Good test from Holdfast1 !

http://asx.com.au/asxpdf/20110712/pdf/41zqj9728wwxfn.pdf


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## So_Cynical (12 July 2011)

So_Cynical said:


> (8th-October-2010) Is everyone asleep at the wheel here? Beach has started drilling into a massive shale deposit in the Cooper basin looking to be the first (i think) Aussie energy company to find commercial quantity's of shale gas in Australia.




For anyone who doesn't know that a Shale Gas gusher looks like...see below. 

http://bpt.irmau.com/IRM/Company/ShowPage.aspx/PDFs/2597-40510231/MediaReleaseHoldfast1
~


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## noirua (16 July 2011)

oldblue said:


> Good test from Holdfast1 !
> 
> http://asx.com.au/asxpdf/20110712/pdf/41zqj9728wwxfn.pdf




Great results but Australia are a Fourth World Country when it comes to storage facilities. If prices are low it has to be sold and thats no better than an outback store selling fresh fruit that has to go - sorry outback.


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## So_Cynical (16 July 2011)

noirua said:


> Great results but Australia are a Fourth World Country when it comes to storage facilities. If prices are low it has to be sold and thats no better than an outback store selling fresh fruit that has to go - sorry outback.




Big Picture 

I hold HDF & BPT stock and noticed after the Beach announcement that the HDF SP went up a couple of cents and held that level during the carnage of late last week...HDF own a Cooper Basin gas pipeline running south to Adelaide and east to the QLD coast, connecting to the new LNG facility's being built there.

Facility's to sell and store the gas are coming, the Gas and the pipeline to move it are already there and some market participants have been able to join the dots and see what's coming.


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## Tysonboss1 (16 July 2011)

noirua said:


> Great results but Australia are a Fourth World Country when it comes to storage facilities. If prices are low it has to be sold and thats no better than an outback store selling fresh fruit that has to go - sorry outback.




The is heaps of storage in the east coast pipeline system and more under construction as we speak, and the whole system is internected as well so potential customers can be just about anywherre from adelaide, melbourne, hobart, brisbane to gladstone and everywhere in between.

Not to mention the various lng projects which will create a seafaring trade and allow us to hit international customers.

And if carbon tax becomes a reality, you will see a boom in the number of gas generation units everywhere.


disclaimer - I exited BPT at $1.05, and entered some gas infrastructure companies.


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## noirua (29 July 2011)

Tysonboss1 said:


> The is heaps of storage in the east coast pipeline system and more under construction as we speak, and the whole system is internected as well so potential customers can be just about anywherre from adelaide, melbourne, hobart, brisbane to gladstone and everywhere in between.
> 
> Not to mention the various lng projects which will create a seafaring trade and allow us to hit international customers.
> 
> ...




Ahhh yes, but little on the south coast and not any underground storage anywhere. This article gives a clue on the need for build up: http://www.adelaideenergy.com.au/media/OilGas-Review-Nov10.pdf

Infrastructure companies are ones to research as well as those that combine exploration, production and infrastructure - carefully monitor I would say.


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## notting (10 August 2011)

Massive volume buy on this mornings announcement.
I like shorting this one.
Perhaps not now.


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## So_Cynical (10 August 2011)

notting said:


> Massive volume buy on this mornings announcement.
> I like shorting this one.
> Perhaps not now.




http://bpt.irmau.com/IRM/Company/Sh...-44570125/2TCFRESOURCEBOOKINGFORSHALEGASWELLS



			
				linked Beach announcement said:
			
		

> Beach Energy Ltd (ASX: BPT, “Beach”) has completed its internal assessment of the resource potential of the Holdfast-1 and Encounter-1 vertical shale gas wells with the booking of an *initial gross contingent resource of 2 trillion cubic feet (“TCF”) of shale gas*.




2 TCF is a lot of Gas for starters...with potential to grow substantially.



			
				Same ann said:
			
		

> This resource booking equates to in excess of 330 million barrels of oil equivalent, or *approximately 5 times Beach’s 30 June 2010 reserves figure*.


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## oldblue (11 August 2011)

It is still a *contingent * resource, the definition of which includes the phrase:

".....but which are not currently considered to be commercially recoverable, due to one or more contingencies."


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## So_Cynical (11 August 2011)

oldblue said:


> It is still a *contingent * resource, the definition of which includes the phrase:
> 
> ".....but which are not currently considered to be commercially recoverable, due to one or more contingencies."




How do you ever make any money being so negative....:dunno: Australia's first shale gas so of course there's some disclaimers.


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## noirua (14 August 2011)

*Re: BPT - Beach Energy*

Beach Energy that includes the old Claremont Petroleum were born out of the mining debacle of 1987, or perhaps born again is fairer.
I don't expect the company to trade for a great deal longer than it takes to fully prove out their shale gas and oil fields. Should I be wrong, as often before, then perhaps they have eyes on ICN, enemy come friend, or again I may wait for ever on this. Top of monitor I would say.


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## Not Rene (1 September 2011)

Finally Beach shares have got some momentum. Maybe I will be able to buy that townhouse afterall


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## notting (1 September 2011)

Bit of resistance there at 1.10.  
I wouldn't call it momentum till that's passed with conviction.
I should have shorted them today too!
Could be a cracker if their up  in the morning.
Note long wick!


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## Not Rene (9 September 2011)

Comsec analysts gav these a $1.20 price target which they have got to pretty quick! 
Have they done their dash do you think or is there some more juice in the tank?


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## notting (16 September 2011)

Appeared to have orgasm this morning after a long run up against the broader market run down.
Now is deflating as the market runs up.
Taking a smoke or not so happy after a good look in the mirror??


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## So_Cynical (16 September 2011)

notting said:


> Bit of resistance there at 1.10.
> I wouldn't call it momentum till that's passed with conviction.
> I should have shorted them today too!
> Could be a cracker if their up  in the morning.
> Note long wick!







notting said:


> Appeared to have orgasm this morning after a long run up against the broader market run down.
> Now is deflating as the market runs up.
> Taking a smoke or not so happy after a good look in the mirror??




Something personal going on here notting? 

BPT hitting and maintaining new post GFC highs, a 38 month high this week is hardly a sign of weakness or a high probability potential short...shale is a game changer for Beach. 
~


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## Not Rene (16 November 2011)

Does anyone have any opinions on Beach's hostile takeover of ADE?
Beach reached $1.335 on Monday which was half a cent from my sell price :-/


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## notting (16 November 2011)

Not Rene said:


> Does anyone have any opinions on Beach's hostile takeover of ADE?
> Beach reached $1.335 on Monday which was half a cent from my sell price :-/




Well the market has been very happy with it and so have analysts.  That pretty much says it all. Normally take overs send the predator south for a while this has done the opposite.  I personally think beach is overpriced but it's trending north at present.


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## noirua (16 November 2011)

*Re: BPT - Beach ENERGY*



Not Rene said:


> Does anyone have any opinions on Beach's hostile takeover of ADE?
> Beach reached $1.335 on Monday which was half a cent from my sell price :-/




It was a surprisingly hostile bid for a JV partner and sends out a strong signal to others that BPT are on the prowl. The main reason probably is the speed needed to takeover Adelaide; as they are only too aware that bigger giants are closing in on them.


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## oldblue (16 November 2011)

BPT's experience from the thwarted takeover bid for DLS in 2009 probably has some bearing on this.

Lesson learnt: Don't expect to pick up smaller JV partners cheaply by making a "friendly" offer.


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## So_Cynical (16 November 2011)

Not Rene said:


> Does anyone have any opinions on Beach's hostile takeover of ADE?
> Beach reached $1.335 on Monday which was half a cent from my sell price :-/




I saw it coming...and really wanted to be holding ADE at around the 10 or 11 cents level, but as usual i simply never had the funds available to take a position....i would be so rich if i had money  ADE have 10% of the Shale Gas acreage that BPT is developing, i think its worth billions and BPT have decided its better to move on ADE now rather than later when it will cost them more.

An inevitable move that was easy to see coming....im not selling BPT until they are worth over $5 a share. 



So_Cynical said:


> (16th-September-2011)
> BPT hitting and maintaining new post GFC highs, a 38 month high this week is hardly a sign of weakness or a high probability potential short...shale is a game changer for Beach.




2 months later and it turns out i summed the situation up pretty well. ^


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## seawitch (28 November 2011)

ASX100 entry:  the AGM presentation says Beach is 'knocking at the door' of the ASX100.  I am based in the UK and would like some advice  about when to sell to take advantage of the forthcoming index entry (if it happens).  I have held BPT for some time and intend to continue holding but the index entry ought to be an opportunity to sell some and buy back cheaper later.  The next ASX rebalancing day is Friday 16th December, after close.  Don't understand how it happens on that day if it's after close.  Does that mean it happens the following Monday.  Does anyone have any experience of what the usual pattern is?  Presumably index trackers can't buy ahead of time so everyone else will buy ahead and then sell when the index trackers can buy?

Also note that BPT has 2 previous high points just over AU$1.60 so that looks like a natural resistance point.  Any advice or comments welcome.


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## notting (20 January 2012)

Just punched a hole through 1.45.
I like shorting this.
Hope it's a fake out.


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## oldblue (20 January 2012)

notting said:


> Just punched a hole through 1.45.
> I like shorting this.
> Hope it's a fake out.




I wouldn't have thought that there was much joy in shorting BPT at present. The SP's been in a steady uptrend since the end of 2011 on the strength of continued shale gas enthusiasm with no obvious reason for a quick reversal.

So a big punt on this going into reverse shortly?


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## notting (20 January 2012)

I think it trades on a lot of hope.  
So I like it.  It is a bit premature at this point to short.
Although I did leave a little one up there at 1.445 to get my attention.
Never lost shorting this one!  Thanks for your opinion.
I was kind of wondering where it is in the Elliot wave count scheme of things.


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## Trevor Perth (22 February 2012)

Still rising $1.715 this morning.  The target $5.00 is well within reach given the movement over the last couple of months.
Bring it on


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## Joe Blow (22 February 2012)

Trevor Perth said:


> Still rising $1.715 this morning.  The target $5.00 is well within reach given the movement over the last couple of months.
> Bring it on




Trevor, a $5 price target is a big call on a stock that is currently trading at $1.70ish.

If this is a broker or analyst valuation, can you please remind everyone which broker/analyst made it and when? If you can link to it somewhere on the web, even better.

If this is your price target then per the forum rules can you please outline the basis for such a valuation?

Thanks!


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## oldblue (22 February 2012)

Trevor Perth said:


> Still rising $1.715 this morning.  The target $5.00 is well within reach given the movement over the last couple of months.
> Bring it on




Whose target is the $5.00?

Sure would be nice and with over 1.1 *billion* shares on issue that would really move the Beach into the big time. A little optimistic though, I fear.


----------



## notting (22 February 2012)

oldblue said:


> Whose target is the $5.00?
> 
> Sure would be nice and with over 1.1 *billion* shares on issue that would really move the Beach into the big time. A little optimistic though, I fear.




They have been pumping out positive anouncements left right and center and have gone from being a burner to an earner.  Their timeing has been pretty amazing with the *oil Iran issue* and *"Greece resolution"*. 
Looking forward to them running out of puff and the world remembering it is actually not generating much growth and the worst possible add on to that is high oil prices!!
One good thing about our Au$ is that it's keeping a lid on the fuel prices, which is a kind of rate hold in itself.  Not so for our inflating friends however!!  Oil prices tend to come off in rather extreme ways when they starts stopping economies!!!


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## Boggo (22 February 2012)

notting said:


> I was kind of wondering where it is in the Elliot wave count scheme of things.




At the moment looking at the weekly chart it is in a nice Wave 3 imo.
It hesitated at the min W.3 level but then continued on to where it is now in the typical range.
Today it hit $1.73 again and rolled back a bit.
Its behaviour/price action combined with some large sized patient buy orders leans me to believing that it may continue upwards.

My stop is at 1.61, just below the low of the latest bar on the weekly chart and that level also stands out on the daily chart.

Just my 

(click to expand)


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## Tysonboss1 (22 February 2012)

Trevor Perth said:


> Still rising $1.715 this morning.  The target $5.00 is well within reach given the movement over the last couple of months.
> Bring it on




I can't see any fundamentals that would justify a share price of $5.00.

What makes you think it is worth this much, I can't see anything outside of $200 barrels of oil that would make it hit that level.


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## notting (22 February 2012)

Nice and clear. Thanks Boggo.


----------



## So_Cynical (22 February 2012)

So_Cynical said:


> .im not selling BPT until they are worth over $5 a share.




I suppose ill take a bit of the blame for the $5 talk...the above quote of mine was a bit of a throw away statement at the time and the figure was arrived at by quessing wildy and assuming a run away oil price at some stage in the near future (think Iran or a sharp US recovery) and the Shale deposit proving to be commercial at the upper end of the deposit/resource estimate (400+ TCF)


----------



## noirua (22 February 2012)

ICN Icon Energy have risen to 27c and it is possible BPT could bid for their partner. Depending on the price offered, this could be very good for Beach as a drilling agreement with Icon at ATP855p (Icon 40% Beach 60%) would end and ICN's Chinese gas supply agreement for ATP626P would be available to BPT.


----------



## Boggo (23 February 2012)

notting said:


> Nice and clear. Thanks Boggo.




No problem, looks like it could be about to give 1.73 another try


----------



## Joules MM1 (1 March 2012)

Boggo said:


> At the moment looking at the weekly chart it is in a nice Wave 3 imo.
> It hesitated at the min W.3 level but then continued on to where it is now in the typical range.
> Today it hit $1.73 again and rolled back a bit.
> Its behaviour/price action combined with some large sized patient buy orders leans me to believing that it may continue upwards.
> ...




youre stopped out ? your re-entry price ? 

here's some other ideas.....they fit your fractal ideas
topstocks.com.au/stock_discussion_forum.php?action=show_thread&threadid=745298#p745298

.......you'll need to log in to see charts


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## Not Rene (2 March 2012)

A big drop after a big rise :-/  Hope the next rally isn't too far away, I need new kitchen and carpet


----------



## Boggo (2 March 2012)

Joules MM1 said:


> youre stopped out ? your re-entry price ?
> 
> here's some other ideas.....they fit your fractal ideas
> topstocks.com.au/stock_discussion_forum.php?action=show_thread&threadid=745298#p745298
> ...




Yes, was stopped out, re-entry not sure, need a few more bars on the daily chart to see a reversal from here. 
If this is a Wave 4 it needs to come down a bit more to around the 0.382 retracement area, I am tending to think that we haven't seen the end of Wave 3 yet.
Let it do its thing for a few days and see what it does, numerous other opportunities  popping up at the moment.

Weekly chart - click to expand.


----------



## So_Cynical (7 March 2012)

4 interesting announcements in the last week or so.


More oil in Egypt http://www.asx.com.au/asxpdf/20120305/pdf/424tkdn6qshfdr.pdf
BPT into the ASX100 http://www.asx.com.au/asxpdf/20120305/pdf/424tlylzr56kqv.pdf
Bank of America substantial holder http://www.asx.com.au/asxpdf/20120306/pdf/424vmkx589l6ts.pdf
Credit Suisse substantial holder http://www.asx.com.au/asxpdf/20120307/pdf/424w949c97ldg6.pdf


----------



## Boggo (8 March 2012)

Boggo said:


> If this is a Wave 4 it needs to come down a bit more to around the 0.382 retracement area, I am tending to think that we haven't seen the end of Wave 3 yet.




Looks like we have seen the end of W.3.
At $1.41 this morning it has hit the W.4 zone at the minimum retracement of 0.382.
Hoping for an indication of whether it is going to resume the uptrend or hang around in the 0.382 to 0.50 retracement zone.

(click to expand)


----------



## Joules MM1 (18 March 2012)

Boggo said:


> Looks like we have seen the end of W.3.
> At $1.41 this morning it has hit the W.4 zone at the minimum retracement of 0.382.
> Hoping for an indication of whether it is going to resume the uptrend or hang around in the 0.382 to 0.50 retracement zone.
> 
> (click to expand)




shaving a tad over 21% is a big pull back and my comments of a 'certain...orchestration' to the pullback is something to stand by based on recent volume moves like friday.....the daily bar itself maybe a tad deceiving and while it looks like a low is in place i think we'll need to see solid evidence that we have slightly higher vwap.....if we can get back into the buy zone i'd want to see a higher level of volume but not as high as the normal turnover (minus the extraneous activity) there maybe some news coming too based on the whole game since the 1785 high ....money flow suggests buying finally overtaking cheapening supply.....

data: Twiggs

i own the stock and adding 

price has a good history, once it's made it's base it simply climbs with an initial shallow pullback to take any final weak volume .....the sweeping line amplifies that with only one rare exception 
	

		
			
		

		
	






i've seen a lot of elliott counts on this chart.....most of them are wildly inaccurate mainly becuase they dont take into consideration the overlapping nature of the chart or how the stock is attracting the money that's driving trend.......i find it very hard to believe that numpty money is driving this stock.......contains all the personality of a bull trend with a long way to go even if we require a period of consolidation........

2c


----------



## Boggo (18 March 2012)

Joules MM1 said:


> *shaving a tad over 21% is a big pull back *and my comments of a 'certain...orchestration' to the pullback is something to stand by based on recent volume moves like friday
> 
> *i've seen a lot of elliott counts on this chart*.....most of them are wildly inaccurate mainly becuase they dont take into consideration the overlapping nature of the chart or how the stock is attracting the money that's driving trend.......i find it very hard to believe that numpty money is driving this stock.......contains all the personality of a bull trend with a long way to go even if we require a period of consolidation........




The pull backs have been text book so far on the weekly chart, ie 50% min pull back on Wave 2 and 38.2% min pull back on Wave 4.

Wouldn't mind seeing some of those charts you refer to.

Weekly position at the moment, Wave 4 is seldom straight forward. (click to expand)


----------



## mr. jeff (18 March 2012)

Nothing very technical to compare with you boogo, but this looks like it is going to hold above that support. You chart indicates a move down further if I am right in reading it. 

The potential capital raising has put a hold on things, but my question is specifically what is happening with all that volume in the last week ? 

It appears to me that it has been selling down, however the last bar closed on its highs, albeit with major volume, a lot of selling into any strength perhaps. I am looking for the right time to re-enter as this is a stock that is very positively exposed to the energy sector and should see further upwards movement, but of course no point in speculating, I want the chart to say it.

So are we possibly waiting for a visit to 1.35, strong rejection and then we are off again ?


----------



## Boggo (18 March 2012)

mr. jeff said:


> View attachment 46469
> 
> 
> Nothing very technical to compare with you boogo, but this looks like it is going to hold above that support. *You chart indicates a move down further if I am right in reading it.*




Not necessarily mr.jeff, just as it did with the wave 2 it met the minimum retracement of 50%, wave 4 min retracement is 38.2 and it has met that min requirement.
There is nothing however to say that it wont turn down as with any scenario.

The overall pattern (charts above) is based on the weekly chart but the daily chart provides the entry and stop etc.

I am back in at 1.54, stop at 1.45 and R/R of 3.2 based on an initial target of 1.83.
A stop at the recent low of 1.40 only provides a R/R of 1.9 so is not an option.


----------



## mr. jeff (19 March 2012)

Boggo said:


> The pull backs have been text book so far on the weekly chart, ie 50% min pull back on Wave 2 and 38.2% min pull back on Wave 4.
> 
> Wouldn't mind seeing some of those charts you refer to.
> 
> Weekly position at the moment, Wave 4 is seldom straight forward. (click to expand)




Ok just realised Boggo that your chart actually showed an earlier study and that it has reached that target. Well done there.
With that in mind I am looking for signs that it is turning back to trend. 




You can see where I am looking. That increasing volume is major. Seems that it is being seriously taken up.


----------



## So_Cynical (19 March 2012)

mr. jeff said:


> The potential capital raising has put a hold on things, but my question is specifically what is happening with all that volume in the last week ?




What potential capital raising....link please.

--------------

I'm super spewing i didn't hold on to a few more BPT shares.


----------



## mr. jeff (19 March 2012)

Potential - as in there has been suggestion that one will be needed in the next few months in the media and on forums etc. which was discussed at the end of Feb. coinciding with the slide that we have seen. Sorry should have been clearer.

There is no news or announcements.


----------



## So_Cynical (19 March 2012)

mr. jeff said:


> Potential - as in there has been suggestion that one will be needed in the next few months in the media and on forums etc. which was discussed at the end of Feb. coinciding with the slide that we have seen. Sorry should have been clearer.
> 
> There is no news or announcements.




According to the half yearly report (Dec 2011) they had 58 million in cash and make approximately 600K a week, so they would of had about 65 million before they paid the last dividend of around 11 million....leaving them with at least 54 million.

http://www.asx.com.au/asxpdf/20120227/pdf/424mks7gwq5v63.pdf

With the high oil price and increased cash flows they are not exactly struggling...though deep core sample drilling is expensive.


----------



## mr. jeff (19 March 2012)

Yes that is interesting and I declare that I know nothing of the actual situation or the reasons behind it, I just backed off and waited until this morning to get back in.



			
				SMH Feb 28 said:
			
		

> Beach on the up but capital raising looms for drilling
> February 28, 2012
> 
> Total production of 3.46 million barrels of oil equivalent (mmboe) was down 0.7 per cent from 3.48 mmboe a year earlier.
> ...




see here

and this: 







			
				Australian Fin Review said:
			
		

> Beach Energy (BPT)
> 
> 05 March 2012 | Bianca Hartge-Hazelman
> 
> Citi has a “sell/high risk” rating on Beach Energy, with a price target of price target of $1.36, saying it remains cautious about the economics of the company’s Cooper shale gas project.




I didn't expect the talk either and whether it was simply a ploy by the bigger players to try and shake people out I don't know... time will tell.


----------



## So_Cynical (19 March 2012)

mr. jeff said:


> Yes that is interesting and I declare that I know nothing of the actual situation or the reasons behind it, I just backed off and waited until this morning to get back in.
> 
> 
> 
> ...




I was reading a presentation tonight where they were proposing a 300+ million total spend in FY12..so yep they are gona need some money.

A placement of around 120 mill and a rights issue to raise another 80 perhaps. :dunno: maybe a note of some kind :dunno:


----------



## oldblue (20 March 2012)

With in excess of 1.1 *billion* shares on issue, a rights issue to raise a "mere" $80m looks unlikely. Something like a one for 20 at $1.35?


----------



## mr. jeff (20 March 2012)

oldblue said:


> With in excess of 1.1 *billion* shares on issue, a rights issue to raise a "mere" $80m looks unlikely. Something like a one for 20 at $1.35?




I wouldn't be surprised if it is done institutionally at a very slight discount and perhaps started already hence the return to uptrend - with the following BPT has, it may not even ask privateers ? 
Priced around 1.40 or so...perhaps word got out and some of the players sold at a premium to take it up shortly ? (OK maybe that is paranoid).


----------



## oldblue (20 March 2012)

No, not paranoia.

A placement is much more likely than an unwieldy 1 for 20 rights issue. Not fair to other shareholders of course but expediency is often the norm these days.

Let's hope that BPT management prove us wrong!


----------



## oldblue (27 March 2012)

So it's a bit of each.

A big institutional convertible note placement and a one for eight entitlement issue at $1.40.

A fair compromise, I guess.


----------



## Not Rene (27 March 2012)

So is it a good thing or a bad thing?


----------



## notting (27 March 2012)

Not Rene said:


> So is it a good thing or a bad thing?





Well, as a share holder, that would depend on where you bought the stock.
If you listened to the company and felt it was going from an burner to an earner and so felt it was worth getting in on the recent highs you'd be sayen that's bad! I'm being diluted at less than what I bought for!
If you were a forward thinker and were in under a $1 or something like that you'd be thinking, that's gooooood!  My company just got some cheap cash and so is more valuable.


----------



## oldblue (27 March 2012)

Not Rene said:


> So is it a good thing or a bad thing?




Just an inevitable part of being an oil producer!

Won't know whether it's a good or bad thing until the contingent shale resource is proved up one way or the other. If it can be converted to product at an economic cost then it will be money well spent. If not, then it just dilutes the value of BPT shares!


----------



## So_Cynical (27 March 2012)

Not Rene said:


> So is it a good thing or a bad thing?




Like most things in the market its a 2 edged sword.

Good thing cos they need the money to fund their ambitious plans, including the biggest known Shale Gas resource in the southern Hemisphere. 

Bad cos the holders have to cough up money or get diluted..and with the note issue we still get a little diluted even if we take up all our rights/shares.

Personally my small Beach holding cost me 68 cents a share so its a bit of an average up for me and i hate averaging up, but will get a warm fuzzy feeling cos i know BPT will be putting my money to good use.


----------



## notting (27 March 2012)

And quite often, these days, you get a chance to get some more below the issue price after the fact so you can undo your dilution and feel good by sticking it to the instos buddy club that got in first at a higher level!!!. Just be patient!
Generally you need to think fundamentally to take advantage of that.


----------



## DB008 (1 May 2012)

BPT announcement on the 24/04 looks promising.

3810m deep exploration well with a 1km thick section saturated with gas.


----------



## Boggo (1 May 2012)

DB008 said:


> BPT announcement on the 24/04 looks promising.
> 
> 3810m deep exploration well with a 1km thick section saturated with gas.




Looking good from where I am sitting, got stopped out on my last try, lets see if it plays out now 

(daily and weekly views - click to expand)


----------



## So_Cynical (4 June 2012)

So_Cynical said:


> Like most things in the market its a 2 edged sword.
> 
> Good thing cos they need the money to fund their ambitious plans, including the biggest known Shale Gas resource in the southern Hemisphere.
> 
> ...




Ok so i chose not to participate in the $1.40 Capital raising of March (one for eight entitlement issue at $1.40) thinking that i was only entitled to less than 1000 dollars worth of shares anyway and i though there was some potential for the oil price to fall a little thus giving me the opportunity to get in at a substantial discount to the 1.40 Cap Raising.

Turns out i was right for a change. 

I was temped at $1.30 and then again at $1.20 then got very very interested last week at $1.05 and today just couldnt help myself...i mean who could pass up an entry at a 32% discount to the cap raising of just 3 months ago  i know i cant....so im in today for my second bite of the Beach Cherry at $0.95.


----------



## DB008 (4 June 2012)

So_Cynical said:


> I was temped at $1.30 and then again at $1.20 then got very very interested last week at $1.05 and today just couldnt help myself...i mean who could pass up an entry at a 32% discount to the cap raising of just 3 months ago  i know i cant....so im in today for my second bite of the Beach Cherry at $0.95.




Good one SO_Cynical. 

No-one has a crystal ball, the markets could tank some more, who knows...but I would consider 0.94 a good entry. Mine was back around the ~$1.40's, LOL. I might have to top up tomorrow, been busy lately....


----------



## Bonk (4 June 2012)

The BPT is over-rated . Simple . Shale is one large gamble . I dont comment very often , but for 18 months I have had huge reservations . The BPt is not BP. BPT mgt have been over-paid and deals are questionable , supported by a big PR machine . 

Deals done in the past year imho were weak. Production is poor ! Costs are eating millions without any future cover . 

I expect this in GFC condition(s) could easily see 61c ...... think I am joking ...... well lets see.


----------



## So_Cynical (4 June 2012)

Bonk said:


> I expect this in GFC condition(s) could easily see 61c ...... think I am joking ...... well lets see.




I Totally agree with you..given GFC 1 conditions again BPT will certainly trade at under 70c and CBA and BHP will be trading at $27 and just like last time as we rally out of the low the share prices will rise....been there done that.



Bonk said:


> The BPT is over-rated . Simple . Shale is one large gamble .




Yep sure its a gamble..as was CSG 6 and 7 years ago and Gold 11 years ago...i win at gambling by buying when everyone else is selling (like the last time i brought BPT at 68c) and then waiting till everyone is buying... ridiculously simple but seems to work for me.


----------



## So_Cynical (5 June 2012)

So_Cynical said:


> .i win at gambling by buying when everyone else is selling (like the last time i brought BPT at 68c) *and then waiting till everyone is buying*... ridiculously simple but seems to work for me.




Today was a good example of selling when everyone is buying...i was temped to take a 1 day 10%+ profit but didn't, thou it was very tempting ...what an amazing turn around in 30 hours, bottom to top of over 11% ~ $0.94 to $1.045 in the space of 2 trading days.

And today largest ASX100 % Gainer.
~


----------



## So_Cynical (7 June 2012)

So_Cynical said:


> im in today for my second bite of the Beach Cherry at $0.95.




I completed this trade today with an exit at $1.10 for a profit of 14.45% holding for only 4 days  as per usual the profit stayed in with an amount of capital of roughly equal size..thus increasing my free carry and reducing my average price to just 77 CPS.

I'm very keen to build a sizeable position in BPT but need to keep recycling my capital to reduce risk and continue to take advantage of the current volatility...Beach has a big future and i very much want to be a part of it.

Closed Trade #90


----------



## skc (7 June 2012)

So_Cynical said:


> I completed this trade today with an exit at $1.10 for a profit of 14.45% holding for only 4 days




Exquisite timing. Good stuff.

This rally will probably start to fizzle by lunch time tomorrow in my random guess of the day.


----------



## So_Cynical (27 June 2012)

skc said:


> Exquisite timing. Good stuff.
> 
> This rally will probably start to fizzle by lunch time tomorrow in my random guess of the day.




Turns out your random guess of the day was about as Exquisite as my timing  i sold at the top of the last run up and the next day the down turn began...Anyway lets keep it going, in today with my Super fund (super fund trade #5) at today's low of $0.88  surely there's no chance ill be out with another double figure profit in less than a week. :dunno: be nice though.


----------



## jancha (4 July 2012)

So_Cynical said:


> Turns out your random guess of the day was about as Exquisite as my timing  i sold at the top of the last run up and the next day the down turn began...Anyway lets keep it going, in today with my Super fund (super fund trade #5) at today's low of $0.88  surely there's no chance ill be out with another double figure profit in less than a week. :dunno: be nice though.




Very close to it Cynical but whats your exit this time?


----------



## So_Cynical (4 July 2012)

jancha said:


> Very close to it Cynical but whats your exit this time?




I just placed a sell order @ $1.05 i would kick my self if the price fell back and i was still in the trade so i thought i better set a realistic sell target....very keen to keep the momentum going in my super fund after almost 13 months with zero action.


----------



## jancha (4 July 2012)

So_Cynical said:


> I just placed a sell order @ $1.05 i would kick my self if the price fell back and i was still in the trade so i thought i better set a realistic sell target....very keen to keep the momentum going in my super fund after almost 13 months with zero action.




Interesting i would have thought more around the $1.09 going by the charts. It does look as if it's in an uptrend for now. I bought in at .96c


----------



## jancha (5 July 2012)

jancha said:


> Interesting i would have thought more around the $1.09 going by the charts. It does look as if it's in an uptrend for now. I bought in at .96c




Got that wrong. Back to scratch @ 96c! Oil needs another jump.. seems to be holding around that price. See how it closes at the end of trade for a possible direction tomorrow.


----------



## jancha (20 July 2012)

jancha said:


> Interesting i would have thought more around the $1.09 going by the charts. It does look as if it's in an uptrend for now. I bought in at .96c




Well almost got there today. Sold out too soon on Thursday @ $1.03 if only that oil spike came a day earlier.


----------



## So_Cynical (20 July 2012)

So_Cynical said:


> (27th-June-2012) Anyway lets keep it going, in today with my Super fund (super fund trade #5) at today's low of *$0.88*  surely there's no chance ill be out with another double figure profit in less than a week. :dunno: be nice though.






jancha said:


> Very close to it Cynical but whats your exit this time?






So_Cynical said:


> (4th-July-2012) I just placed a sell order @ $1.05 i would kick my self if the price fell back and i was still in the trade so i thought i better set a realistic sell target....very keen to keep the momentum going in my super fund after almost 13 months with zero action.




Out today at $1.07 ~ it took 3 weeks for the price action (and POO/AUD) to come good, a profit of $20.55% for 3 weeks...i amended my sell order a week or so ago thinking i could do a little better, well 2 cents better.

The way im trading BPT i should sell everything else and just make a motza on this  absolutely nailing the bottoms and 1 top, hoping its 2 so i can do it again...i decided to buy at the prices i did based on 3 things...3 things that have changed since the last low.

In order of importance (IMO)


The last significant bottom was around 66c and at that time Beach didn't have the largest Shale gas deposit in the Southern Hemisphere, i figured this was worth at least 20 CPS.
The Cap raising of a few months before at $1.40 (345mill) funding an ambitious development plan for 2 years.
The world wasn't going to end.
~


----------



## jancha (27 July 2012)

jancha said:


> Interesting i would have thought more around the $1.09 going by the charts. It does look as if it's in an uptrend for now. I bought in at .96c




From a chartists point of view does BPT look as if it's trending up? 
And if that is the case and it breaks it's resistance of $1.10 where would the next resistance level be?  $1.10 being it's new support level? $1.00 being it's old?


----------



## So_Cynical (27 July 2012)

jancha said:


> From a chartists point of view does BPT look as if it's trending up?
> And if that is the case and it breaks it's resistance of $1.10 where would the next resistance level be?  $1.10 being it's new support level? $1.00 being it's old?




POO its all POO and the positives (risk on) about global growth...well more realistically the world not ending this week or in the foreseeable next 2 or 3 weeks.


----------



## DB008 (20 September 2012)

BPT announcement yesterday.

1.5 cent per share, full franked, dividend.


----------



## piersha1 (22 January 2013)

September is the last post that we have had about this company.
I as a young inexperienced trader don't really have to much information or knowledge to feel game enough to post anything on this forum, I merely just look, watch and listen to what you people say.
In saying that, lets get the ball rolling on what is a great company with great future prospects and (up until yesterday) was on a steady uptrend...
Why the sudden massive drop in price from, yes a mediocre, but still, positive announcement...


----------



## DB008 (22 January 2013)

piersha1 said:


> Why the sudden massive drop in price from, yes a mediocre, but still, positive announcement...





Could just be profit taking? People did buy in around to $1 mark. To make ~40% in a few months is all bad...


----------



## oldblue (22 January 2013)

The market thinks that the flow test on the Moonta 1 shale gas well was a bit disappointing. The economics of shale gas extraction in Aust  is still to be established and BPT has a fair bit riding on a positive outcome.

The terrorist business in North Africa might also be an influence on the SP. BPT has an interest in the  North Shadwan field in Egypt, operated by  BP.


----------



## So_Cynical (22 January 2013)

oldblue said:


> The market thinks that the flow test on the Moonta 1 shale gas well was a bit disappointing. The economics of shale gas extraction in Aust  is still to be established and BPT has a fair bit riding on a positive outcome.




That's the conclusion i came to as well, its the only negative i could find in the ICN ann released the day of the drop..its got to be a bit of a given that the gas coming from those deep shale wells will be expensive...did you see the fracking setup in the ICN ann...big dollars for gear like that in the middle of nowhere.


----------



## So_Cynical (25 February 2013)

The big news....drum roll......Chevron is in.

BPT was the biggest mover in the ASX100 today on the back of the Chevron announcement.

http://www.beachenergy.com.au/IRM/C...295/BeachfarmoutofexplorationacreagetoChevron

Chevron will pay 349 million to farm in to Beaches Nappamerri Trough Shale gas tenements...ending up with 60% of BPT's stake in the project.

Chevron.


----------



## Not Rene (26 February 2013)

Here is a more detailed web article from bloomberg

http://www.bloomberg.com/news/2013-...hResults+(shale+-+Yahoo!+News+Search+Results)

Hope this brings us back to the giddy heights of $1.77, I need this after my recent foray into Las Vegas


----------



## DB008 (28 February 2013)

Some good news...

http://www.beachenergy.com.au/IRM/Company/ShowPage.aspx/PDFs/2877-89796368/Halifax1VerticalWellFlowingBackGas


----------



## notting (28 February 2013)

DB008 said:


> Some good news...



Jesus, I thought the good news was a few days ago -Beach
will transfer up to 60% of its interests
in PEL 218 (Beach 100%) and ATP 855 (Beach 60%) to Chevron for
$349 million.
Today was just icing.
Only way is up baby.


----------



## qldfrog (28 February 2013)

yes but it took a while, they were my pick for the Feb competition but too late I think to do much good


----------



## DB008 (3 April 2013)

Announcement out today on asx

Good news.


----------



## Not Rene (13 November 2013)

CBA comsec report gives a price target of $1.70 with longer term upside potential.

wish it would hurry up!


----------



## So_Cynical (24 February 2014)

Not Rene said:


> CBA comsec report gives a price target of $1.70 with longer term upside potential.
> 
> wish it would hurry up!




Well it took 16 weeks for that price target to almost come good today,  intra day high of $1.695 (up 9%) on the release of the Half year results and dividends, 1c special and 1c interim.

http://www.asx.com.au/asxpdf/20140224/pdf/42mxw9nfg0l55d.pdf

Have a look at these numbers.
~


----------



## Not Rene (6 April 2014)

Commsec price target is now $1.85 ..... another 16 weeks!!
I have my own price target of $2.20


----------



## Joe Blow (6 April 2014)

Not Rene said:


> Commsec price target is now $1.85 ..... another 16 weeks!!
> I have my own price target of $2.20




Not Rene, can you please outline your reasons for advocating a price target of $2.20? All arbitrary price targets must be accompanied by some supporting analysis, so others understand where you are coming from.


----------



## Not Rene (8 April 2014)

That would be my dreams


----------



## Echidna50 (8 June 2014)

*Article  - BPT is included as a takeover target*

Title: Oil and gas sector now in play for mergers

Richard Hemming

The Australian

June 07, 2014 12:00AM


SMALL listed oil and gas companies look to be increasingly on the auction block as bigger predators eye takeover opportunities to boost production growth given higher operating costs, a relatively high oil price and increasing domestic gas prices.

This was certainly the case for Karoon Gas Australia, whose shares spiked 46 per cent from $2.54 where it was in late April prior to its suspension of trading due to funding uncertainty. It got to as high as $3.72 this week after Origin Energy lifted the previously cash-strapped oil and gas minnow out of the grave.

Origin is on the hook to buy Karoon’s 40 per cent interest in two exploration permits for potentially large offshore gas fields in Western Australia’s Browse Basin. The deal delivers Karoon $US600 million ($647m) upfront and payments of up to $US200m if things go well for Origin.

The transaction follows other merger and acquisition activity in the sector, including the Horizon Oil (HZN) and Roc Oil (ROC) merger, the all scrip takeover by Drill Search for Ambassador Oil and Gas (AQO) and the $1.84 billion takeover of US-based oil producer Aurora Oil and Gas by Canada’s Baytex Energy.

Canaccord Genuity’s oil and gas analyst Johan Hedstrom explains why there is more M&A activity in the sector in comparison to others. He said:

“There is more takeover activity in oil and gas because the share prices have fallen, yet the oil price is $US100 plus and gas prices in Australia are rising. This is unlike other commodities like iron ore, copper and gold, which have been under sustained pressure.”

Hedstrom predicts that there will be more activity in the sector as big companies go looking for cheap assets, and small companies look for scale:

“There is going to be speculation about more activity because so many companies’ prices have become irrelevant for investors. Mergers produce scale which will attract institutions.”

Hedstrom says that candidates on the takeover front include Beach Energy (BPT), Drillsearch Energy (DLS) and Senex Energy (SXY) because of their shale gas enterprises in the Cooper Basin.

At the smaller end he includes Cooper Energy (COE) as well as Sundance Energy (SEA) and* Lonestar Resources (LNR)*. He also singles out Karoon (KAR). “This is a huge deal for the company and means it can develop its assets in Peru and Bazil.”


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## So_Cynical (27 August 2014)

Beach looks like its good for a trade, POO at support as is the SP of Beach, 6 months support anyway..just keeps bouncing off this level, 1.61/2/3 - the annual report was all good, everything up and at record levels, dividend and sales revenue has doubled over the last 5 years, heaps of cash.

http://www.beachenergy.com.au/IRM/C...1/FY14FullYearResultsPresentation25August2014
~


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## tradernor (18 October 2014)

Seeking Alpha has today an article that talks about the 2P reserves of Beach (BPT), Santos (STO), Drillsearch (DLS) and other Australian energy producers. See the middle of the article:


http://seekingalpha.com/article/2566285-petroamerica-my-additional-take


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## polpak (2 November 2014)

Longer term BPT optimistic with five year chart.    

Shorter term BPT's  W%R suggests oversold. 

What about the oil price slump ?

Larger Oil producers mostly looking for large productions. 

Some may consider worthwhile some takeover opportunities which boost their production growth, remove potential competition, while costs lower as returns down with some pessimism.  

Higher operating costs not likely to fade much, sources deeper or more complicated to draw from, so expect higher oil prices shall return soon enough.  

Any serious production problem will speed that up. 

Only thing likely to impact petroleum prices will be cheaper production costs as electric vehicles move into mass production and the vehicles to have in mass markets.  

China or India could really benefit, with good prospects of achieving, IF they decide to go that way. 



Australia's larger production activities mostly geared to export at prices to cover their set up costs.

Australian domestic gas prices likely rise to match export price returns,  this assists smaller producers achieve better returns. 


Note last weeks notification of significant shareholder increase in holdings. 

Note end of week reports of resolving Russian and Ukrainian gas line problems, which may have EU imports up again. 




BPT may drop further below the five year line,  short term, while longer term expect to see rise again.

When may it start edging up enough to change sentiment  ?-)   


Added some to my longer term   
​


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## So_Cynical (3 November 2014)

The fall in POO has been a long time coming, lots and lots of new production coming on online and static global demand....the POO held up for a long time but has now capitulated, POG going with it, BIG opportunity coming up.


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## luvbhatnagar (17 June 2015)

Does anyone have any thoughts on BPT?   They seem to be at an interesting place at the moment.   

Highlights below are from a Commsec report on the back of the BPT 3Q15 production report 

– Production of 2.1mmboe was down 11% qoq due mainly to natural decline across oil assets and planned downtime at Moomba. Revenue of $131m was down 33% qoq due to lower realised oil prices and lower sales volumes (down 23% qoq), with lower seasonal gas demand and lower production the key factors. 

– FY15 production guidance narrowed to 8.9-9.2mmboe, from 8.9-9.4mmboe previously. FY15 capex guidance was unchanged at $430–470m. FY16 capex is expected to be materially below FY15 levels with lower SACB and SWQ JV development spend, and minimal expenditure on unconventional gas as the Stage 2 scope is determined for the Nappamerri Trough natural gas program. 


Cooper oil – Bauer facilities expansion complete, production expected to remain steady 

Bauer fluid handling capacity is now at 75kbbl/d, an increase of 25kbbl/d following the commissioning of four new separators. BPT is planning for further capacity upgrades (highlighting the possibility of up to 100kbbl/d by end CY15) to sustain production rates. Subsequent to quarter end, the Bauer-19 development well (the first well in the first pad drilling campaign) was brought onto production, contributing significantly to strong oil production from the former PEL 91 permit (the first two weeks of April saw gross production of 11,850bbl/d). This level of production is anticipated to be maintained through the remainder of CY15 as remaining wells from the two Bauer pad drilling campaigns are brought online, the Stunsail and Pennington facilities are commissioned, and other wells including Chiton-3, Hanson-2 and Balgowan-1 are brought online.


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## So_Cynical (11 December 2015)

Bought a few today - averaged down as i hold already at like 90C from 4 years ago..42c a Decade+ low and the company has changed just a little from that time, issued just a few (sarcasm) shares as well over the years.

A this level has to be a good thing over time #2 on shore oil and gas producer.


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## JTLP (11 December 2015)

Do they still have the shale assets?
Pretty worthless now I would have thought...


----------



## So_Cynical (11 December 2015)

JTLP said:


> Do they still have the shale assets?
> Pretty worthless now I would have thought...




Yep still have the largest proven shale gas deposit in the southern hemisphere, hadn't thought about it in worthless terms, certainly won't get developed further with the current oil/gas price...was thinking about the other oil and gas reserves and production, conventional production, and all that cash and the low debt.

It's a long term punt, beach used to be a junior, now they are a major onshore producer...some deep value starting to appear in the energy and mining sector.


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## So_Cynical (2 March 2016)

So_Cynical said:


> Bought a few today - averaged down as i hold already at like 90C from 4 years ago..42c
> 
> A this level has to be a good thing over time #2 on shore oil and gas producer.




Bought a few more for the IB account at 42c at around the same time as above, 76 days in the trade, out today for a 38% profit...should've loaded up.


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## Boggo (24 November 2016)

Keeping an eye on the BPT behaviour, bit of hesitation today with the rest of the market but has been quietly moving along under without attracting any discussion.

First target area reached but a move to the next two would be nice.
(Second chart close rounded to 2 places)

(click to expand)


----------



## tech/a (24 November 2016)

Boggo said:


> Keeping an eye on the BPT behaviour, bit of hesitation today with the rest of the market but has been quietly moving along under without attracting any discussion.
> 
> First target area reached but a move to the next two would be nice.
> 
> (click to expand)




Yeh saw that.
Looks good Boggo.


----------



## Boggo (24 November 2016)

tech/a said:


> Yeh saw that.
> Looks good Boggo.




Yes, didn't think that something like that would unnoticed 

Quite a few nice patterns in place at the moment, just need the overall market (tide) to carry them through.


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## adds4 (18 December 2016)

two p & a lately, BPT was having a really good upto that. Both with COE. One exploration and one appraisal. Thats oil and gas, win some loose some. Share price still going up nice and steady, and the oil price looks like sticking as well. Good times ahead


----------



## Gringotts Bank (20 September 2017)




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## So_Cynical (30 April 2018)

$1.575 and looking good with all the positive sentiment around POO and POG (Gas) ~ banged up a ten year chart and like many big stocks Beach has gone basically nowhere for the last decade except that it has gone somewhere, Beach is now a very big producer and with the Lattice purchase from Origin its now a multi basin onshore and offshore producer.

They supply around 15% of the gas that sells into the east coast gas market, big record sales and supply, the 10 year chart below shows my major purchases in green and sales in red, still holding with an average price of 65c  hows that for timing hey.
~


----------



## systematic (30 April 2018)

So_Cynical said:


> $1.575 and looking good with all the positive sentiment around POO and POG (Gas)




Nicely done, So Cynical, and nice summary and chart.  Love the 42c buy.
I'm in ~$1.26 early Feb, so I'd be happy to see it keep going!


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## So_Cynical (1 May 2018)

I reckon Beach is due for a re-rating, watching a presentation last night one of the senior execs said that they could be debt free in just 4 years if they wanted to be...over 1B in annual revenues now.


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## greggles (28 May 2018)

Beach Energy rejected historical resistance of $1.80 as it did back in April and July 2014, although you certainly can't complain about the run it has had in the last 12 months.

Currently trading at $1.57, this is probably just a temporary setback and I imagine it will make another attempt at breaking through $1.80 sometime soon.


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## Joules MM1 (28 May 2018)

greggles said:


> Beach Energy rejected historical resistance of $1.80 as it did back in April and July 2014, although you certainly can't complain about the run it has had in the last 12 months.
> 
> Currently trading at $1.57, this is probably just a temporary setback and I imagine it will make another attempt at breaking through $1.80 sometime soon.
> 
> View attachment 87555




rejected or accepted?
if price rejects resistance surely it breaks thru as seller reject and do not accept lower prices?
if price accepts resistance then sellers bail at best available price

i know diff t's use diff terminology but i've never understood how resistance can be rejected, respected and accepted yeah sure


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## Joules MM1 (28 May 2018)

as an old school idea look for the (hold your breadth![pun]) cup n handle set


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## greggles (28 May 2018)

Joules MM1 said:


> rejected or accepted?
> if price rejects resistance surely it breaks thru as seller reject and do not accept lower prices?
> if price accepts resistance then sellers bail at best available price
> 
> i know diff t's use diff terminology but i've never understood how resistance can be rejected, respected and accepted yeah sure



You have a point there. Respected might have been a better term. Or perhaps I just should have said failed to break through historical resistance at $1.80. In any case, yeah, that was what I meant.


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## leyy (28 May 2018)

greggles said:


> Beach Energy rejected historical resistance of $1.80 as it did back in April and July 2014, although you certainly can't complain about the run it has had in the last 12 months.
> 
> Currently trading at $1.57, this is probably just a temporary setback and I imagine it will make another attempt at breaking through $1.80 sometime soon.
> 
> View attachment 87555




Could be timing or coincidence but BPT got hit the hardest with crude oil tanking 4%.

Both Santos and Woodside shed circa 4%


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## greggles (3 July 2018)

greggles said:


> Currently trading at $1.57, this is probably just a temporary setback and I imagine it will make another attempt at breaking through $1.80 sometime soon.




...and Beach Energy breaks through $1.80 and hits all time highs. Currently up 5.68% today to $1.86 and looking bullish.


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## barney (3 July 2018)

Certainly had a good run …  I remember telling my Brother at Xmas lunch 2015 that OIL was getting close to a bottom and we should all consider accumulating OIL Futures  …. Be sipping Pina Coladas in the Bahamas by now lol … Coulda Shoulda Woulda


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## So_Cynical (3 July 2018)

Ill do some selling above $2 - pocket some profit.


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## greggles (27 September 2018)

So_Cynical said:


> Ill do some selling above $2 - pocket some profit.



Breakout today for Beach Energy following the release of a 2018 Investor Briefing presentation in which BPT outlined its plans to grow production to 34–40 MMboe in FY23 and are targeting more than $2.3 billion in five year cumulative free cash flow.

It all sounds pretty impressive and the market seems to like it. BPT is up 9.5% to $2.18 so far today.

You might want to hang onto those shares a little longer @So_Cynical, my guess is BPT is likely to go a little higher in the short term.


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## So_Cynical (28 September 2018)

So_Cynical said:


> Ill do some selling above $2 - pocket some profit.






greggles said:


> You might want to hang onto those shares a little longer @So_Cynical, my guess is BPT is likely to go a little higher in the short term.




I have already had a big FY selling winners so i decided a while ago to hold on as i do like the story around energy prices over the mid term, also like the BPT story of growth and debt reduction moving from a mid cap to a big cap.

I reckon 2.50+ is on the cards this year.


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## systematic (28 September 2018)

So_Cynical said:


> I reckon 2.50+ is on the cards this year.




Hope so!


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## So_Cynical (28 September 2018)

Beach is a different company now as the Lattice acquisition was a big deal, they can be debt free in 5 years if they want.


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## Knobby22 (30 September 2018)

So_Cynical said:


> Beach is a different company now as the Lattice acquisition was a big deal, they can be debt free in 5 years if they want.



I did own a  couple of years back but lost patience. Big regrets.


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## So_Cynical (30 October 2018)

So_Cynical said:


> Beach is a different company now as the Lattice acquisition was a big deal, they can be debt free in 5 years if they want.




Turns out they do want to be debt free and according to the quarterly released today they can achieve that way ahead of schedule - up 10% on the back of today's upbeat announcement.

http://www.beachenergy.com.au/irm/PDF/7197_0/QuarterlyReportfortheperiodended30September2018
~


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## Ann (31 October 2018)

I chose BPT for the November Tipping Competition as it is sitting above a support resistance line and may go up as there is a lot of punter support as indicated by the PVI (Positive Volume Indicator).


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## Ann (11 November 2018)

Ann said:


> I chose BPT for the November Tipping Competition as it is sitting above a support resistance line and may go up as there is a lot of punter support as indicated by the PVI (Positive Volume Indicator).
> 
> View attachment 90083




Reading charts is an art...perhaps even one of the dark arts. It is what is seen by the chartist on the day and also with some sort of bias. There is always bias as Zedd convinced me. Where are you J? We need you. Bring some of the guys with you.

I have BPT in the tipping comp, so naturally I would like to show off how clever I am by picking a winner. However, I seriously doubt I have.

The PVI....Punter support is all well and good until there is a serious downturn, then it is likely to be a major panic attack and cause a falling knife. Read the chart folks.


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## So_Cynical (16 November 2018)

Everything fine - just the price going down a little after going up a lot...


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## Ann (16 November 2018)

So_Cynical said:


> Everything fine - just the price going down a little after going up a lot...




Thanks So Cynical, hopefully the POO will rise high enough now they are covering their shorts to prepare for a freezing winter in the NH, maybe lifting BPT back into a decent level again.


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## Ann (17 November 2018)

Watching the POO closely I can see it has bounced off the $55 support line nicely, if it can break through $60 then I can see it heading up in an effort to break through the $78 long term falling overhead resistance line. I feel it is highly unlikely it will go above $78 but it would cetainly take BPT for a little ride up. My rough calculations suggest a price target of around $2.50 to $2.60 for BPT. I am also bullish for BPT as the Momentum indicator is doing a nice deep curve up.


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## systematic (17 November 2018)

Why are we watching poo?


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## greggles (17 November 2018)

systematic said:


> Why are we watching poo?




POO = *P*rice *O*f *O*il


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## systematic (19 November 2018)

greggles said:


> POO = *P*rice *O*f *O*il




Thanks mate - I honestly did not know that!


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## Miner (21 November 2018)

What was the condition of POO  today to get BPT dived down more than 10% and there was not a single news on this. Yes in general oil companies have gone south but BPT was extra ordinarily.
Any one to comment please ?


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## So_Cynical (22 November 2018)

Saudis and Trump love fest, lower demand and lower prices, POO predicted to dip under 50 in coming days.


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## Ann (23 November 2018)

Miner said:


> What was the condition of POO  today to get BPT dived down more than 10% and there was not a single news on this. Yes in general oil companies have gone south but BPT was extra ordinarily.
> Any one to comment please ?




Sorry Miner, I have been busy and not here. The oil price fell below an important support line of $55 dollars and added to that our markets on the day were having a little puke as well. So with both things combined BPT got smacked. The oil price still remains below that critical $55 which will now be behaving like a resistance line which may see further falls.


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## aus_trader (23 November 2018)

Only positive is the relief at the service station filling up at 124c a litre. haven't seen ULP prices this low for a long time. Thanks POO


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## jbocker (27 December 2018)

ASF 2019 Competition My top pick.
Counting on Price of Oil Recovery as a catalyst. They have a focus on debt reduction. Good Profits (dependence on POO increase). Increased number of hubs. 2018 a transformative year, hoping to see what for in 2019.


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## greggles (10 January 2019)

jbocker said:


> ASF 2019 Competition My top pick.
> Counting on Price of Oil Recovery as a catalyst. They have a focus on debt reduction. Good Profits (dependence on POO increase). Increased number of hubs. 2018 a transformative year, hoping to see what for in 2019.




Nice pick. BPT is heading north nicely on increasing volume. The week long uptrend is still intact. $1.75 might present some problems as it has had some difficulty getting through that level in the past, but at least its heading in the right direction at last.


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## jbocker (11 January 2019)

greggles said:


> Nice pick. BPT is heading north nicely on increasing volume. The week long uptrend is still intact. $1.75 might present some problems as it has had some difficulty getting through that level in the past, but at least its heading in the right direction at last.
> 
> View attachment 91258



Good so far but volatility is a characteristic we see in everything about oil. I reckon they are positioned well to benefit with higher prices. I was thinking to top up some more if it fell through 1.25. Being patient for now.


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## barney (16 January 2019)

jbocker said:


> Good so far but volatility is a characteristic we see in everything about oil. I reckon they are positioned well to benefit with higher prices. I was thinking to top up some more if it fell through 1.25. Being patient for now.




A lot of Oilers Charts have a similar positive steady move up at the moment so it looks a good medium term pick JB


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## Miner (8 February 2019)

barney said:


> A lot of Oilers Charts have a similar positive steady move up at the moment so it looks a good medium term pick JB



Hello Folks
With a reasonable good heads up from BPT only end of January , today alongwith other oilers , it has slipped through considerably lower. The financial report is going to be released on 13th Feb. Per Barney's definition   is the chart  pretty scary ?
Is there something market got leaked and just not a seasonal effect as in others case?


----------



## Miner (13 February 2019)

BT published its annual result today.
What an insane performance - almost double the profit BUT with 1 c dividend.
But once again M/s Market only rewarded with a small gain in stock price. Must have been expecting this result some how.


----------



## jbocker (13 February 2019)

Miner said:


> BT published its annual result today.
> What an insane performance - almost double the profit BUT with 1 c dividend.
> But once again M/s Market only rewarded with a small gain in stock price. Must have been expecting this result some how.
> View attachment 92133




Great news. Well ahead of their 5 year plan and planning to be debt free at end of year.
Wonder what the dividends might start to look like when they say they are looking to pay more to shareholders in the future. They are focussed on the debt reduction for now. If they become a cash box they might get looked at by a bigger fish?


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## Clansman (1 June 2019)

This will get smashed on Monday and for some time after although at some stage this year it will present a significant buying opportunity. Determining when will offer significant rewards.


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## Miner (1 June 2019)

Clansman said:


> This will get smashed on Monday and for some time after although at some stage this year it will present a significant buying opportunity. Determining when will offer significant rewards.



@Clansman 
Would you consider some back of your thoughts on big smash on Monday.
Personally it was emotional for me to exit from BPT holding from when it is going mostly south. But I always thought it is a good stock also when I sell then stick prices go up


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## So_Cynical (1 June 2019)

POO fell 5% in US trade yesterday/today, meanwhile Iran is getting the blame for sabotage done to Tankers of the UAE coast, and anti Syrian forces (US) have sunk/damaged 3 oil tankers off the Syrian coast.


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## Clansman (2 June 2019)

Miner said:


> @Clansman
> Would you consider some back of your thoughts on big smash on Monday.
> Personally it was emotional for me to exit from BPT holding from when it is going mostly south. But I always thought it is a good stock also when I sell then stick prices go up




Will be interesting to see if Seven Group come in with another stake in the $1.60s?
My bet is it will be allowed to drift significantly lower.


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## jbocker (26 July 2019)

*Debt Free!* Two years ahead of initial expectations.
August 19 results will be quite positive me thinks. Suggestions in their announcement indicate they have exceeded expectations.
https://www.asx.com.au/asxpdf/20190724/pdf/446v0f3bc07fg7.pdf


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## So_Cynical (27 July 2019)

jbocker said:


> *Debt Free!* Two years ahead of initial expectations.
> August 19 results will be quite positive me thinks.




Debt free and annual revenues of around 2B i reckon a share buy back could be on the cards, over the years they have issued a lot of shares, time to reverse the process, BPT will morph into a Jnr Woodside over the next few years.


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## rnr (25 August 2019)

BPT is also sitting just below the ATH of $2.27


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## barney (28 August 2019)

Hit a high today of $2.29 Currently $2.27 

Just noting BPT *Ex dividend date* is tomorrow *29/08/2019*


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## So_Cynical (29 October 2019)

Good ann today - Beharra Springs Deep-1 well conventional gas discovery, a 36 metre column in the Kingia Sandstone, this is the same formation that hosts 
the Waitsia gas field just a few kilometers north, supposedly the largest onshore conventional gas field discovered in Australia in the last 40 years.

https://yourir.info/resources/0c5a4...87/BPT_Beharra_Springs_Deep_gas_discovery.pdf

Beach just keeps kicking goals, a real growth stock.


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## jbocker (13 December 2019)

I picked this in the 2020 competition (and win the $1000 prizemoney)

Debt free (ahead of schedule) Earnings will allow maybe some good acquisitions and or dividends in time.  I believe it is growing in stature. Done ok for me in 2019 comp, so sticking with it.


----------



## Dona Ferentes (23 December 2019)

double top, Sept and Dec. And likely more downside than upside for 2020?


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## aus_trader (23 December 2019)

Has big bold ambitions to grow it's oil/gas reserves. Plugging back most of it's profits back into the business and holding off the dividends in the process.

Junior mining days are well behind but not backing off the growth trajectory and becoming an income stock since there is plenty of room to increase dividend. Is PBT aiming to be the next Woodside ?


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## jbocker (8 January 2020)

BPT punches through its 12 month high. Up 10c+ earlier today.


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## aus_trader (8 January 2020)

jbocker said:


> BPT punches through its 12 month high. Up 10c+ earlier today.



Looking Good JB. We both had this winner in CY2019 competition didn't we ?

I also had BPT as one of the possible candidates for the CY2020 competition out of around 10 possible picks. Then I crossed out the companies that were below 10c and the large cap billion+ companies including BPT to leave me with 4 small caps. Starting to think whether crossing out BPT was such a good idea ?

Good thing that I have bought some BPT shares for the Speculative Stock Portfolio, as I expect another growth year for BPT as long as Oil prices hold up this year.


----------



## jbocker (8 January 2020)

aus_trader said:


> Looking Good JB. We both had this winner in CY2019 competition didn't we ?
> 
> I also had BPT as one of the possible candidates for the CY2020 competition out of around 10 possible picks. Then I crossed out the companies that were below 10c and the large cap billion+ companies including BPT to leave me with 4 small caps. Starting to think whether crossing out BPT was such a good idea ?
> 
> Good thing that I have bought some BPT shares for the Speculative Stock Portfolio, as I expect another growth year for BPT as long as Oil prices hold up this year.



I picked it in 2020. Its earning lots of cash, I don't think its a cash cow that will be hunted down as there are lots of shares, hopefully it will buy some successful company, fields or prospects, and or shell out some dividends. As @So_Cynical suggests maybe even a share buy back is possible.


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## aus_trader (8 January 2020)

jbocker said:


> I picked it in 2020. Its earning lots of cash, I don't think its a cash cow that will be hunted down as there are lots of shares, hopefully it will buy some successful company, fields or prospects, and or shell out some dividends. As @So_Cynical suggests maybe even a share buy back is possible.




Yes I saw you re-picked it for this year's competition. I think it'll be a winner again, good luck 

I am glad I also got some skin in the game in my spec portfolio. Below is some interesting history on Beach Energy that was previously posted in the spec portfolio:


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## barney (8 January 2020)

Thanks Bock and Aus … Back on the watchlist


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## Dona Ferentes (15 January 2020)

Beach is now $2.80. It has never been this high (in latest growth incarnation).

I wonder if Norway's opening its third largest field (Johan Sverdup, likely to produce more than 600,000 bpd) recently, while being at forefront of disinvesting "to combat climate change", is giving mixed signals about demand?


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## So_Cynical (15 January 2020)

Dona Ferentes said:


> Beach is now $2.80. It has never been this high (in latest growth incarnation)




Fair to say that the company has been re-rated at $2+ Beach can't really go backwards from the current incarnation -what it has become.


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## jbocker (21 January 2020)

When do you think it will crack the $3 mark? Its getting close.


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## Dona Ferentes (21 January 2020)

_Street Talk_ in the AFR is suggesting there's a deal looming that Waitsia (50% Beach) will supply domestic gas and NW Shelf gas go for export







> Observers suggest the fact Waitsia has sold little or no gas into the domestic market is a sign that it is holding all its capacity for a monster deal with the North West Shelf.
> 
> If a deal did transpire it could hit domestic gas prices, as the market seems to have pegged Waitsia gas to be sold locally rather than internationally. This could lead to a re-rating of players in the Perth Basin, especially those with volumes that supply Pilbara-based LNG producers



I like it


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## aus_trader (21 January 2020)

I was punting on a few stocks that I thought may do well from the East Coast gas shortage that was a theme from more than a year ago. Those penny punts didn't work out well as can be seen in the Speculative Stock Portfolio but Beach has been in and out of that portfolio and it has done well.

It looks like it's one of the big Oil/Gas plays that may actually be able to benefit from that Gas shortage going into the future, so glad to be currently holding BPT.


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## Dona Ferentes (21 January 2020)

aus_trader said:


> I was punting on a few stocks that I thought may do well from the East Coast gas shortage that was a theme from more than a year ago. Those penny punts didn't work out well...
> 
> It looks like it's one of the big Oil/Gas plays that may actually be able to benefit from that Gas shortage going into the future...



and of course the others likely to benefit are Strike SRK and Warrego WGO:







> the market seems to have pegged Waitsia gas to be sold locally rather than internationally. This could lead to a re-rating of players in the Perth Basin..




Mind you, the "East Coast gas shortage" was a bit of rent seeking, by industry. Would have succeeded with a Shorten Govt. To some extent, the Curtis Island plants do suck a lot out of Qld CSG and some of the fairways are coming up short, but if government didn't interfere the outcomes might have been arrived at with less argy-bargy.


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## Dona Ferentes (21 January 2020)

Dona Ferentes said:


> and of course the others likely to benefit are Strike SRK and Warrego WGO



*and STX for Strike would work even better


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## Trav. (25 January 2020)

I like the setup here on BPT and hopefully it will take on the $3 mark soon and then some.

Higher Highs & Higher Lows over the last couple of months so one to watch closely.


----------



## Trav. (31 January 2020)

Ascending triangle pattern was broken during the week but managed a mini recovery.

Still on watch list but not as bullish now.


----------



## aus_trader (1 February 2020)

Trav. said:


> Ascending triangle pattern was broken during the week but managed a mini recovery.
> 
> Still on watch list but not as bullish now.
> 
> View attachment 100058




The problem is the big sell off in Crude Oil. There is key support just above US$50 that should be watched:


----------



## Trav. (20 February 2020)

Signs of life in BPT again. Low hit ~$2.05 on the 14/2 and currently $2.21.

Not held but definitely tempted to have a trade here, back on watch list and looking for entry.


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## jbocker (20 February 2020)

Bought some today. Looking at WPL too.


----------



## rnr (21 February 2020)

Given the latest comments by @Trav. and @jbocker I decided to post some thoughts on where Beach Energy is at currently!
QUALIFICATION:- These are just my thoughts and could well be way off track and *I do not hold*.

BPT would appear to be in a 5 wave downward move ( waves 1 to 4 having formed) with wave 5 destined to end in a zone of reasonably strong support.
That support could likely result in an a-b-c wave move higher (providing a low risk entry).
Lets see what pans out. Unfilled Gaps are shown on the chart.


----------



## jbocker (21 February 2020)

Didn't really get what you mean @rnr  so I just read around a little and *I think *you may be talking about Elliot wave theory. (Apologies if that is a statement from the 'bleeding obvious' or conversely 'way off rails'). From the little I read it appears I may have bought a little early and I certainly hope wave 3 was THE big one in this case, and not wave 5. So I probably should have waited to see if it falls to the $1.90 area and then bought. I did also see something about the ABC waves. I hope A and C are big upwards mumma's.
Am I sort of on track?
Thanks for the chart.


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## Skate (21 February 2020)

jbocker said:


> Bought some today. Looking at WPL too.




@jbocker would you care to explain the motivation for the buy?


jbocker said:


> I probably should have waited to see if it falls to the $1.90 area and then bought.




Hmmm....

*Reminder to myself*
Buying good companies at the wrong time can be detrimental to my wealth.

Skate.


----------



## rnr (21 February 2020)

jbocker said:


> Didn't really get what you mean @rnr  so I just read around a little and *I think *you may be talking about Elliot wave theory. (Apologies if that is a statement from the 'bleeding obvious' or conversely 'way off rails'). From the little I read it appears I may have bought a little early and I certainly hope wave 3 was THE big one in this case, and not wave 5. So I probably should have waited to see if it falls to the $1.90 area and then bought. I did also see something about the ABC waves. I hope A and C are big upwards mumma's.
> Am I sort of on track?
> Thanks for the chart.




Hi @jbocker 

Well researched and yes you are on track with what I was thinking.
Now we just need to see if our thoughts are in sync with the market!

Cheers,
Rob


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## jbocker (21 February 2020)

Skate said:


> @jbocker would you care to explain the motivation for the buy?



Hi Skate. I already hold BPT with a fair profit even at todays price. I like the gas/oil game, grew up with it. I offloaded several poor and stagnant performers and wanted to hold it an a stock I am more comfortable with, and BPT has retraced a fair bit recently. I wanted to simplify my holdings.



Skate said:


> @jbocker would you care to explain the motivation for the buy?
> Hmmm....
> *Reminder to myself*
> Buying good companies at the wrong time can be detrimental to my wealth.
> Skate.



Clearly I am not a chartist and my comment was a interpretation stab after a LITTLE research of what rnr chart was showing us (me).

As a final note I am in a turmoil of thought about exiting share investments altogether. I am far too emotive as an investor, probably because I am passionate about potential new good business and love to invest in such. But it is a fickle game and  did my best to support the Green Energy start ups initially. 
I am not a chartist and I wont put the energy and time required at this time in life, but it does fascinate me when I see some charting, but to be truthful emotion is too big a blocker for me to overcome before I started making any headway being a chartist.

Could add some more but my pants are down far enough.


----------



## Porper (21 February 2020)

rnr said:


> View attachment 100593
> 
> 
> Given the latest comments by @Trav. and @jbocker I decided to post some thoughts on where Beach Energy is at currently!
> ...




Interesting chart rnr. 

Agree, a 5-wave move lower looks likely. Wave-4 could take longer to unfold, allowing the guideline of alternation to be adhered to. (The 2 corrections should be different). If the current bounce completes around these levels another leg down should follow.

Wave-3 extended, which is normal. Infact it was almost exactly 1.618x the length of wave-1. A textbook extension!

When this happens the first and final legs will usually be the same length. The target is $1.81. If your shown support gives way, the deeper correction is likely. That lower target aligns with multi-year support as well. Could be a good bounce from support. You are correct though, an A-B-C correction only. Just my thoughts from an Elliott wave perspective.


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## rnr (23 February 2020)

Hi @jbocker

[QUOTE I am not a chartist and I wont put the energy and time required at this time in life, but it does fascinate me when I see some charting, but to be truthful emotion is too big a *blocker* for me to overcome before I started making any headway being a chartist.

Could add some more but my pants are down far enough. [/QUOTE]

No problems, just add an "l" to your tag and we will all understand as *@jblocker* has a similar ring to it.


----------



## rnr (23 February 2020)

Porper said:


> Interesting chart rnr.
> 
> Agree, a 5-wave move lower looks likely. Wave-4 could take longer to unfold, allowing the guideline of alternation to be adhered to. (The 2 corrections should be different). If the current bounce completes around these levels another leg down should follow.
> 
> ...




Hi Porper,

Thanks for dropping by and sharing your thoughts on my chart as I always appreciate your comments. Still trying to improve my EW skills although generally I'm so far behind the eight ball it's not funny. 

Cheers,
Rob


----------



## jbocker (23 February 2020)

That might be more appropriate J Blocker. 
A Blocker to my J Curve.


----------



## Porper (24 February 2020)

rnr said:


> Hi Porper,
> 
> Thanks for dropping by and sharing your thoughts on my chart as I always appreciate your comments. Still trying to improve my EW skills although generally I'm so far behind the eight ball it's not funny.
> 
> ...




 You were spot on with your wave count Rob. Just keep on doing what you are doing. It's a continual learning process for all of us...no matter what type of analysis is used.


----------



## rederob (24 February 2020)

jbocker said:


> Hi Skate. I already hold BPT with a fair profit even at todays price. I like the gas/oil game, grew up with it. I offloaded several poor and stagnant performers and wanted to hold it an a stock I am more comfortable with, and BPT has retraced a fair bit recently. I wanted to simplify my holdings.
> 
> 
> Clearly I am not a chartist and my comment was a interpretation stab after a LITTLE research of what rnr chart was showing us (me).
> ...



BPT will move closely with oil prices, as most producers do.
In that light WTI is likely to continue trading within a $15 range - roughly from $50/bbl-$65/bbl.
The current WTI decline was predicated on the coronavirus impact, although cyclical declines are part and parcel of the mechanism.
I hold BPT and waited for the recent report rather than selling when it ran to $2.90 in January.  Not the smartest of moves, but I am not a trader so don't feel inclined to worry about missed opportunities.
Anyhow, while I reckon it might be a long while before BPT gets back to $2.90 the company is operating at a completely different level to the past, so dips below $2 represent buying opportunities.  I see the stock climbing back to well over $2.40 this year, which is an easy +10% profit as I see it.


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## Dona Ferentes (17 March 2020)

> Victorian government has lifted a ban on onshore gas exploration from July 2021, paving the way for the state to boost production as supplies decline from the offshore Bass Strait fields.



Following a three-year investigation, Premier Daniel Andrews said there will be an “orderly restart” of onshore conventional gas exploration and development from July 1 next year while a temporary ban on fracking and coal seam gas exploration will be made permanent.

The state has faced significant pressure to ease the gas ban amid forecasts of gas supply shortages looming by 2022 partly due to production drying up from the once prolific Bass Strait.

Big industrial users have been among vocal critics of the government’s move saying it had pushed up the price of locally priced gas and made it more difficult to compete with their inter-state and international rivals.

Potentially significant onshore gas resources could be extracted from the state’s Otway Basin which stretches into South Australia where an industry already operates.


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## jbocker (22 April 2020)

Ok read there 1/4ly report. They are in the black with $80M, up 20M for the quarter, their operating costs (from the 1/2 yearly report) $9.1/bbl. Are they in a good position? A lot better position than 12months ago with a 200M+of debt. Are they well placed to ride out the storm?


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## So_Cynical (22 April 2020)

jbocker said:


> Are they well placed to ride out the storm?




They have cash and cash flow, sell lots of gas into the domestic market, if they get super conservative and do the absolute minimum CAPEX and exploration they wont run out of money for a couple of years.


----------



## aus_trader (23 April 2020)

jbocker said:


> Ok read there 1/4ly report. They are in the black with $80M, up 20M for the quarter, their operating costs (from the 1/2 yearly report) $9.1/bbl. Are they in a good position? A lot better position than 12months ago with a 200M+of debt. Are they well placed to ride out the storm?



Yes a better position than last year. jb, where does it say their production cost is $9.1/bbl?

My concern is, currently they are selling oil at $74/bbl which is only 30% less than before. But now Oil price has absolutely collapsed, so going forward they may have to sell for a much lower price unless they have some hedging in place.


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## jbocker (23 April 2020)

aus_trader said:


> Yes a better position than last year. jb, where does it say their production cost is $9.1/bbl?



In the half yearly (not the 1/4ly just released). Operating costs page 5
https://www.asx.com.au/asxpdf/20200211/pdf/44dzjwmpgtlzcf.pdf


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## rederob (23 April 2020)

aus_trader said:


> Yes a better position than last year. jb, where does it say their production cost is $9.1/bbl?
> 
> My concern is, currently they are selling oil at $74/bbl which is only 30% less than before. But now Oil price has absolutely collapsed, so going forward they may have to sell for a much lower price unless they have some hedging in place.



BPT's oil component comprised only 27.5% of BOEs, and the gas component is largely protected by existing sales contracts to end of FY20.  
The coming quarter will be harsh, but by the time we have that data the POO is likely to have resurrected itself to a sustainable figure.


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## aus_trader (23 April 2020)

rederob said:


> BPT's oil component comprised only 27.5% of BOEs, and the gas component is largely protected by existing sales contracts to end of FY20.
> The coming quarter will be harsh, but by the time we have that data the POO is likely to have resurrected itself to a sustainable figure.



Agree, at current unsustainable oil price levels many high cost producers are likely to go under. Especially the very high cost US shale oil producers and possibly Canadian Tar Sand oil producers.


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## grug85 (29 May 2020)

Hi Guys
Looks to me like a reasonable set up has occurred for a little swing trade on BPT with the retest of the rising wedge breakout


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## Trav. (29 May 2020)

@grug85 welcome mate.

BPT definitely has had a nice run over the last couple of months, testing that support level ~$1.56 and hopefully it can bounce back up


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## grug85 (29 May 2020)

Thanks @Trav. , I've been lurking for a few years now, thought this looked too textbook not to share


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## aus_trader (30 May 2020)

grug85 said:


> Thanks @Trav. , I've been lurking for a few years now, thought this looked too textbook not to share



Thanks for sharing grug85. Yes text-book type of rising wedge break out, now pulling back to retest.

Disclosure: I currently hold BPT in Speculative Stock Portfolio.


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## Dona Ferentes (17 August 2020)

*FY20 Highlights *
 Ended the year with $50m Net Cash, highlighting Balance Sheet strength 
 ROCE > 19% because of high-margins from onshore oil and diversified pipeline gas business 
 No write down of producing assets at reduced commodity prices  
 214% 2P organic reserves replacement ratio and 352 MMboe of 2P reserves 
 178 wells drilled at a success rate of 81%  
 Underlying NPAT $461 million and Statutory NPAT $501 million
 Final Dividend 1 cent per share 


*Revised Growth Strategy *
 Same plan at a prudent pace to manage the impact of COVID-19 and oil prices 
 Waitsia Stage 2 FID anticipated in December 2020 quarter, gas from new 250 TJ/d facility to be processed into LNG at North West Shelf Facilities 
 Waitsia Stage 1 expansion being commissioned, Beach Perth Basin joint ventures providing 40 TJ/d to WA domestic gas market in FY21 and seeking further domestic gas sales opportunities 
 6+ well offshore Victorian Otway Basin drilling campaign to commence by March 2021 via a new rig contract signed with Diamond Offshore 
 Revised low-risk investment profile targeting 37 to 43 MMboe production in FY25 from existing portfolio 
 5-year outlook generates >$2 billion of FCF at lower price assumptions  
 Significant Carnarvon Basin prospect, Ironbark, to be drilled by BP in Q2FY21

(Hold)


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## jbocker (10 November 2020)

Enterprise 1 Gas Discovery in the Otway Basin announced today is a neat discovery drilled from a land base. That will make it hugely less costly to get to production to the Otway Gas Plant which is less than 10km away. Nice start to their drilling program.


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## So_Cynical (10 November 2020)

jbocker said:


> Enterprise 1 Gas Discovery in the Otway Basin announced today is a neat discovery drilled from a land base. That will make it hugely less costly to get to production to the Otway Gas Plant which is less than 10km away. Nice start to their drilling program.




10 clicks from the gas plant, 5km long/deep direction drill from the land to under the sea, super smart stuff. Up 13% so far today.


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## aus_trader (10 November 2020)

So_Cynical said:


> 10 clicks from the gas plant, 5km long/deep direction drill from the land to under the sea, super smart stuff. Up 13% so far today.



It's one of the better Oil/Gas stocks on the asx as I have always mentioned in my spec portfolio. May be time to buy back on a re-tracement, as the worst might be over for the Oil stock plunge...


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## So_Cynical (11 November 2020)

aus_trader said:


> It's one of the better Oil/Gas stocks on the asx as I have always mentioned in my spec portfolio. May be time to buy back on a re-tracement, as the worst might be over for the Oil stock plunge...




Everything is risk off with the vaccine news, global growth back on.


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## Dona Ferentes (24 November 2020)

So_Cynical said:


> Everything is risk off with the vaccine news, global growth back on.



Agree, and if Ironbark-1 is a winner, expect some more.


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## jbocker (24 December 2020)

Good to see the Waitsia gas project has a Gas Processing Agreement at Woodside's Pluto Plant which will allow LNG processing of Waitsia gas. Ultimately another source of revenue for all involved.
NWS Project Participants Execute Gas Processing Agreements (westpac.com.au)


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## Dona Ferentes (24 December 2020)

Highlights 
• The Waitsia Joint Venture has made a Final Investment Decision for the Waitsia Gas Project Stage 2 development, subject to certain regulatory approvals and commercial conditions. 
• The WJV has finalised and signed key commercial agreements with the North West Shelf Project participants, the State of Western Australia and the Australian Gas Infrastructure Group. 
• The WJV and Woodside Burrup Pty Ltd, with gas from the Pluto fields, become the inaugural third parties to sign binding commercial access agreements with the NWSPP. 
• First equity Liquefied Natural Gas sales from Waitsia Stage 2 are *expected to commence in H2 CY23*. 
• Total capital expenditure to first production of A$350 – 400 million net to Beach, *fully funded* from the Company’s existing cash flows and facilities. 
• In alignment with the Government of Western Australia policy, approximately 60% of the project’s greenhouse gas emissions are planned to be reduced or offset during the project’s life.


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## jbocker (27 December 2020)

Dona Ferentes said:


> Highlights
> • The Waitsia Joint Venture has made a Final Investment Decision for the Waitsia Gas Project Stage 2 development, subject to certain regulatory approvals and commercial conditions.
> • The WJV has finalised and signed key commercial agreements with the North West Shelf Project participants, the State of Western Australia and the Australian Gas Infrastructure Group.
> • The WJV and Woodside Burrup Pty Ltd, with gas from the Pluto fields, become the inaugural third parties to sign binding commercial access agreements with the NWSPP.
> ...



I have BPT as a selection in the 2021 year Competition based on matters like the above, it has no debt and is making money low operating cost. The oil price I expect will continue to recover in 2021. It has an interest in drilling for new discoveries that can be plugged into existing infrastructure like the recent Enterprise-1 to Otway facilities. It has an interest in Ironbark-1 drilling currently and is very close to target depth. It is NOT my top pick though.


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## Dona Ferentes (29 December 2020)

P&A for Ironbark.

NZOG Chief executive Andrew Jefferies said, “_Bugger…. a very disappointing result for us all. Ironbark was a world scale prospect in a
highly prospective address, and it needed drilling. We got an answer, but it was not the one we wanted."_


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## Dona Ferentes (30 April 2021)

Dona Ferentes said:


> ...._ and it needed drilling. We got an answer, but it was not the one we wanted."_



And Beach all washed up, tide retreating and the flotsam left stranded

Down 22% on _*Lower production across Cooper Basin Western Flank oil and gas assets*_

_The announcement sounded alarming, and a bit of panic. Five-year outlook is withdrawn and Beach will no longer provide a five-year outlook in its current form. The nice little earners from the Western Flank, just drill and produce oil, are coming up short. _


> New production and pressure data reduces overall 2P reserves of Western Flank gas fields





> Net 2P reserve downgrade of 3.2 MMboe across seven other fields within ex-PEL 106 due to new production and pressure data.


----------



## qldfrog (30 April 2021)

outch was a reliable one on my long term investor portfolio and just lost 6k in a day, 
had a couple of wins on my systems and was feeling quite happy until I looked at my long term comsec portfolio...
maybe not big enough for my oil play but not that many to choose here ...


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## Miner (30 April 2021)

qldfrog said:


> outch was a reliable one on my long term investor portfolio and just lost 6k in a day,
> had a couple of wins on my systems and was feeling quite happy until I looked at my long term comsec portfolio...
> maybe not big enough for my oil play but not that many to choose here ...



Unfortunately this announcement took market for a big surprise.
If it was not BPT, market would have punished the stock severely.
Thinking of putting my punt for may competition.
But no internet will be a challenge using my laptop.
Cheers


----------



## Dona Ferentes (30 April 2021)

qldfrog said:


> outch was a reliable one on my long term investor portfolio and just lost 6k in a day..



Moi aussi... et un peu plus que ça. The only _oil n gas_ company I hold. everything else was/ is too capital intensive.

Western flank had been such a productive if small set of plays. Drill a hole, complete, flow when polypipe run to central collecting tank. But the fields were never huge, only a few metres of reservoir. I should have twigged when they started drilling horizontal wells.


----------



## qldfrog (30 April 2021)

Dona Ferentes said:


> Moi aussi... et un peu plus que ça. The only _oil n gas_ company I hold. everything else was/ is too capital intensive.
> 
> Western flank had been such a productive if small set of plays. Drill a hole, complete, flow when polypipe run to central collecting tank. But the fields were never huge, only a few metres of reservoir. I should have twigged when they started drilling horizontal wells.



that is the issue: too small to be able to level a good or bad well results. but we have no rel oil producer on the asx; just oil as a side of gas, and i do not want to touch gas...


----------



## qldfrog (30 April 2021)

qldfrog said:


> that is the issue: too small to be able to level a good or bad well results. but we have no rel oil producer on the asx; just oil as a side of gas, and i do not want to touch gas...



gas as LPG, etc not petrol


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## Dona Ferentes (30 April 2021)

qldfrog said:


> gas as LPG, etc not petrol



Gas as in the old oil patch saying:
_"Bad news, we didn't strike oil;
Good news, we didn't strike gas."_

and of which a whole lot will achieve _Stranded_ status sooner or later.


----------



## Dona Ferentes (3 May 2021)

Miner said:


> Unfortunately this announcement took market for a big surprise.
> If it was not BPT, market would have punished the stock severely.
> Thinking of putting my punt for may competition.



You may be on a winner, or at least have some downside protection.

On the bourse:
_Seven Group had Macquarie’s equities desk offering to take Beach Energy shares off frightened punters on Friday, and ended up spending about $50 million on a 1.5 per cent stake in the oil producer._


----------



## Miner (3 May 2021)

Miner said:


> Unfortunately this announcement took market for a big surprise.
> If it was not BPT, market would have punished the stock severely.
> Thinking of putting my punt for may competition.
> But no internet will be a challenge using my laptop.
> Cheers


----------



## Miner (3 May 2021)

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02369184-2A1295282?access_token=83ff96335c2d45a094df02a206a39ff4
		



			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02369195-2A1295288?access_token=83ff96335c2d45a094df02a206a39ff4
		

some perspective


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## Miner (6 May 2021)

https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02371222-6PV215D3GAK4CMRSKBC3GQSLMD/pdf?access_token=0007sR8rO4TfWSP7lpGov8PXnhuZ
		

Opportunity buying ? Looks like FY 22, BPT turnaround is a challenge. So my tip would remain for bottom drawer.
However patience will pay off for FY 23. I hope to believe my own prediction and not to jump out ship as I did for APT, HZR and MIN.


----------



## Miner (11 May 2021)

Regardless the companies are not really comparable, the PE for BPT is extremely attractive.
Anther 17 days to go, I am pretty optimistic on my tip


----------



## Dona Ferentes (17 June 2021)

Dona Ferentes said:


> The only _oil n gas_ company I hold. everything else was/ is too capital intensive.
> 
> Western flank had been such a productive if small set of plays. Drill a hole, complete, flow when polypipe run to central collecting tank. But the fields were never huge, only a few metres of reservoir. I should have twigged when they started drilling horizontal wells.




I took advantage of a recent lift in BPT to offload 30% of my holding yesterday at $1.37. While pundits have been pointing out the positives (driving season, lag in supply response after Covid production drop, renewed demand, etc), I took on board some counter sentiments found on the weekend:


> _"Those in the markets with short memories have started talking about the possibility of ‘*oil at $US100 a barrel*’ as prices continue to rise past $US70 a barrel mark. The upbeat forecasts ignore the grim fact that every time oil is forecast to rise to levels hard to justify, prices eventually tank – as they did in 2014 and in April of last year when the pandemic slammed them to minus $US37 a barrel for US West Texas Intermediate crude._





> _The confident forecasts are being made because of the impact of the OPEC+ caps on production as global demand slowly recovers. But eventually demand will regain re-Covid levels and according to oil’s boosters, prices will surge. That of course ignores the rapid uptake of renewables which is destroying demand for oil and gas every day...._


----------



## brerwallabi (30 September 2021)

Beach has been well and truly hammered down however with the world recovering from the Covid pandemic and oil and gas demand to increase I believe Beach will recover significantly.
The recent heads of agreement with BP Singapore is a step on the way.

“Beach Energy (Perth Basin) Pty Limited, a subsidiary of Beach Energy Limited (ASX: BPT) (“Beach”), today announced it has entered into a Heads of Agreement (“HOA”) with BP Singapore Pte. Limited, a subsidiary of BP plc (“bp”) regarding the supply of Beach’s share of liquefied natural gas (“LNG”) from Waitsia Gas Project Stage 2.
The HOA contains all material terms and conditions for bp purchasing all 3.75 million tonnes of Beach’s expected LNG volumes from the Waitsia Gas Project Stage 2, with supply forecast to commence in H2 2023.”
The action in the share price has seen it recover from a little over a dollar to $1.40 in just over two weeks.


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## Dona Ferentes (30 September 2021)

Beach is looking to close on a high for the day and the week and the month, just under $1.50, which is a level not seen since the precipitous fall when the Western Flank downgrade was announced (late May).

Going into northern winter, I suspect there will be sustained strength in the oil price, and gas contracts should also firm up.

I wonder if the swing shale producers will return? Their bankers have held them to a disciplined approach that is somewhat out of character.


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## qldfrog (30 September 2021)

brerwallabi said:


> Beach has been well and truly hammered down however with the world recovering from the Covid pandemic and oil and gas demand to increase I believe Beach will recover significantly.
> The recent heads of agreement with BP Singapore is a step on the way.
> 
> “Beach Energy (Perth Basin) Pty Limited, a subsidiary of Beach Energy Limited (ASX: BPT) (“Beach”), today announced it has entered into a Heads of Agreement (“HOA”) with BP Singapore Pte. Limited, a subsidiary of BP plc (“bp”) regarding the supply of Beach’s share of liquefied natural gas (“LNG”) from Waitsia Gas Project Stage 2.
> ...



I had not the patience... sold at 1.25 then lately 1.15 in august after a 25%, then11% falls all the while oil price was rising..Will not touch it with a pole


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## Smurf1976 (30 September 2021)

Dona Ferentes said:


> Going into northern winter, I suspect there will be sustained strength in the oil price, and gas contracts should also firm up.



LNG is incredibly scarce and costly right now.

It's a sellers' market very much.


----------



## The Cruising Investor (29 December 2021)

Expect the price to rally in line with global oil prices. Oil to be $100 pb shortly


----------



## brerwallabi (29 December 2021)

The Cruising Investor said:


> Expect the price to rally in line with global oil prices. Oil to be $100 pb shortly



Ha ha  that’s what I thought, out permanently from BPT, it cost me a pretty penny. Now after saying that the thing will probably shoot back up to a $1.90.


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## Ferret (30 December 2021)

A pick for 2022.  

Oil price is not too shabby.  At some point oil stocks should reflect this.  BPT looks like one that could recover quite a bit.


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## Dona Ferentes (29 May 2022)

Beach’s new chief executive officer Morné Engelbrecht said, in his first remarks as permanent CEO last week, that the firm is on course to deliver increased domestic gas production as it brings new projects online, while a surge in prices equips it with balance sheet strength to explore new acquisitions.

Much of the capital expenditure will be spent on its

_offshore Otway development, connecting Thylacine wells to OGP – targeting first gas mid-CY2023, and _
_Waitsia Gas Project Stage 2. Complete construction and commence LNG exports – targeting H2 CY2023_


_As well, reprocessing of existing 3D seismic over the Yolla field has revealed a previously unidentified fault block, Yolla West, which is drillable from the existing Yolla platform. If successful, Yolla West could be connected to the Lang Lang Gas Plant soon after drilling. Beach has decided to prioritise the development of Yolla West, which presents as a lower-cost, nearer-term and higher-returning investment opportunity (than Trefoil). Aiming to be drilling over the 2022/23 summer._
_No material oil exploration in the Western Flank for over five years .  ..... 24 prospects matured to drillable status in FY22 _


----------



## rederob (31 May 2022)

One of the problems with Australia's oil stock performances versus oil prices per se is the massive price disconnect since early 2021:





I looked over BPT's financials and what sticks out is how much it has to spend to keep its production profile and fund ongoing projects:




All the best news for BPT arrives in 2024 when their capital expenditure no longer cruels their barrel of oil equivalent profit margins.  BPT is trading at over $1.60 right now, but that's on an exceptionally strong oil price.  Unless the WTI price holds up in the medium term then it's difficult to see BPT do other than fall in price in the interim.
In the short term WTI is on a bit of a bender, so BPT might get close to $2/share again, in which case I will be selling.


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## Dona Ferentes (9 June 2022)

rederob said:


> All the best news for BPT arrives in 2024 when their capital expenditure no longer cruels their barrel of oil equivalent profit margins.  BPT is trading at over $1.60 right now, but that's on an exceptionally strong oil price.  Unless the WTI price holds up in the medium term then it's difficult to see BPT do other than fall in price in the interim.......



WTI, and associated oil indices,  Brent, Singapore, are all doing  well. And BPT nudged $1.90 today

And an added benefit is the ability of Waitsia to sell into the export spot market .... First LNG sales target of H2 CY2023  and commence LNG exports.


> Waitsia ~50% complete. Waitsia Stage 2 completion as at 31 March 2022 per joint venture operator (Mitsui) guidance


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## rederob (9 June 2022)

Dona Ferentes said:


> WTI, and associated oil indices,  Brent, Singapore, are all doing  well. And BPT nudged $1.90 today
> 
> And an added benefit is the ability of Waitsia to sell into the export spot market .... First LNG sales target of H2 CY2023  and commence LNG exports.



Correlating BPT with STO and WPL we see the latter well ahead of their pre-pandemic prices, with BPT a laggard:




But as you note, better times are ahead for BPT with good progress being made on their production pipeline - excuse pun.
I am looking to sell my BPT shares above $2 nut am not in a hurry.


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## brerwallabi (14 June 2022)

A Leopard can’t change its spots.
I hope you get your two bucks.


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## Miner (6 August 2022)

rederob said:


> One of the problems with Australia's oil stock performances versus oil prices per se is the massive price disconnect since early 2021:
> View attachment 142393
> 
> I looked over BPT's financials and what sticks out is how much it has to spend to keep its production profile and fund ongoing projects:
> ...



BPT LATEST trade is $1.7 .  doing well  DNH


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## Dona Ferentes (15 August 2022)

Market was expecting more, given the PoO strength

_"Despite lower production, increased demand and pricing for our products saw a rise in earnings and cash flows"_.
total revenues increased 13 per cent to $1.8 billion in FY2022
underlying earnings lifted 17 per cent to $1.1 billion
dividend of $0.01 a share
Looking like 2024 before things happen. These outlooks probably assisted the 12% drop today, to $1.62

expects 2023 production to range between 20 MMboe and 22.5 MMboe, from 21.8 MMboe in 2022.
Unit field operating costs are expected to rise to $12 to $13 per boe, compared to $11.74 in 2022.


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## divs4ever (15 August 2022)

my ( theoretical ) av. SP is just under 52.5 cents   the DRP is suspended this div. ( i would have though they would grab that extra capital )

 looks like popcorn time for me


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## Miner (15 August 2022)

Dona Ferentes said:


> Market was expecting more, given the PoO strength
> 
> _"Despite lower production, increased demand and pricing for our products saw a rise in earnings and cash flows"_.
> total revenues increased 13 per cent to $1.8 billion in FY2022
> ...



The 12% slump changed slightly better at the closing today. Was it an overreaction?

extract from MF (free version)
*Beach Energy Ltd* (ASX: BPT)
The Beach share price is down 12% to $1.63. Investors have been selling this energy producerâs shares after its FY 2022 profits fell well short of expectations. Beach reported an underlying net profit after tax of $504 million. While this was up 39% year over year, it was *nowhere near the consensus estimate of ~$546 million.

I liked this section though
“These results contributed to a strengthening of our financial position. We ended the year with total available liquidity of $765 million and *$752 million in free cash flow pre-growth expenditure2 generated*. This leaves Beach in great shape to deliver its current growth projects and balance longer-term growth aspirations with capital management initiatives. “In the field, Beach is demonstrating its ability to deliver large and complex projects. Beach is safely achieving key milestones which are de-risking growth and strengthening the foundation for our FY24 production growth target





*


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## Dona Ferentes (19 October 2022)

Quarterly oil and gas production at BPT has fallen 8 per cent, due to

natural field decline, 
Cooper Basin flooding and
unplanned outages.


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## divs4ever (19 October 2022)

yes but they have several capped wells ( waiting for future production  ) i assume that is waiting for infrastructure  or an economic price 

 so the news is unlikely to tumble to price enough to tempt me to add extra  ( am looking for sub 80 cents as long as it is not a horror announcement )

 i would also expect  difficulties  acquiring/keeping  suitably skilled staff  as well 

 ( i hold BPT at very low cash risk  , but is also less likely to go ten-bagger for me , so am not rushing to throw extra cash  at it )


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## rcw1 (16 November 2022)

Good evening,
BPT published its AGM Addresses and Presentations today (16/11/22).  pp11-14 talks about WGO and STX.

Of note, Beach Energy Limited (Page 13 of 18):
_We have no intention to make an offer for Strike Energy. If you apply our Warrego offer on a look through basis to Strike’s 2P Beach Energy Limited Page 14 of 18 reserves you’ll realise we believe Strike is not something we would acquire at its current share price._

Kind regards
rcw1


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## divs4ever (17 November 2022)

a big difference between acquire  ( take at least 51%  of the STX  shares ) and a JV of convenience  ( for example 70% of WGO with STX holding the remaining 30% ).

 watch this play for more twists and turns ( IMO )


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## rcw1 (17 November 2022)

divs4ever said:


> a big difference between acquire  ( take at least 51%  of the STX  shares ) and a JV of convenience  ( for example 70% of WGO with STX holding the remaining 30% ).
> 
> watch this play for more twists and turns ( IMO )



Morning divs4ever,
There is gas.  There is a market.  The other aspect not really discussed much is that STX has diversity.  Fertiliser.  There is a market.  There is damand in that space too.  Certainly, interesting times ahead.

Kind regards
rcw1


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## rcw1 (6 December 2022)

Good afternoon
Been reported today (06/12/22):

Shares in the Kerry Stokes-backed Beach Energy are down 6 per cent amid concern over its ability to deliver the Waitsia gas project in Western Australia following the collapse of Clough, a chief contractor on the facility.

Gas from Waitsia will be supplied to the North West Shelf LNG export venture but Clough's plunge into voluntary administration has raised concern over delays.

"Beach and Mitsui E&P Australia, its joint venture partner and Waitsia operator, will work closely with the administrator, contractors, and stakeholders to ensure continued progress of the 250 TJ/day Waitsia Stage 2 gas plant," Beach said in a statement to the ASX.

"Beach has been working with Mitsui in planning for various outcomes and will continue to work to deliver the best outcome for the project."

Have a very nice day today.

Kind regards
rcw1


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## divs4ever (6 December 2022)

have mixed feelings on this news  , a little disappointed  on the possible delay , but i also hold several Clough rivals  which MIGHT get an extra opportunity 

 i hold BPT ( free-carried' ) and several listed  engineering/services  companies  but if Clough fails completely  who has the spare capacity ready at short notice  ??


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## rcw1 (6 December 2022)

divs4ever said:


> have mixed feelings on this news  , a little disappointed  on the possible delay , but i also hold several Clough rivals  which MIGHT get an extra opportunity
> 
> i hold BPT ( free-carried' ) and several listed  engineering/services  companies  but if Clough fails completely  who has the spare capacity ready at short notice  ??



Mate reckon it will be a temporary setback.... 

Kind regards
rcw1


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## divs4ever (6 December 2022)

rcw1 said:


> Mate reckon it will be a temporary setback....
> 
> Kind regards
> rcw1



 yes   , but does it come with a silver lining ( for me ) a company like DCG can do with all the work it can get  , while some others  might have to stretch resources thin to fulfill the contract ( if the get it )


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## Dona Ferentes (8 December 2022)

_With Strike acquiring a 19.9% interest in Warrego, things have changed again.... Some comment: _


Strike’s move could mean *Beach* is no longer a contender because it’s scheme of arrangement offer needs 100% of Warrego’s shares. Hancock Energy has not put any conditions on its offer and could buy shares in the open market if it wants to.

The Strike and Warrego jointly -controlled gas field is not producing but Beach and Mitsui control the Waitsia field nearby. Mitsui’s plans to develop the field at a cost of more than $760 million have been hit by the collapse of its contractor, Clough Australia.

A probable outcome would be for Strike to do a deal with Beach and Mitsui to grab Warrego and amalgamate the two fields with a stage development plan that sees the costs and revenues from Waitsia finance the development of West Erregulla and several smaller structures though to be in the area.

With Strike shares at 36.5 cents, Warrego shares look a bargain at 30.5 cents, but that’s questionable given all the known unknowns in this increasingly complex situation.



> Beach shares were down nearly 10% at $1.64. Yes, oil prices are weakening but was yesterday’s share price fall a judgement from some investors that Beach is being squeezed out of the Warrego play? Beach can certainly deal itself back in, if it and its 30% shareholder Kerry Stokes both want to, along with Mitsui.


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## rcw1 (9 December 2022)

Good morning
Has been reported this morning 09/12/22:

Beach Energy bows out of the bidding war for Warrego, leaving Strike Energy and Gina Rinehart's Hancock group in the race for a bigger gas play in Western Australia.

The Kerry Stokes-backed group had five days to bring its 25c per share offer up to Hancock's 'superior' 28c takeover bid even as Strike Energy moved on a potential 19.9 per cent blocking stake to any deal.

Beach has now determined not to exercise its matching right, focusing on its own exploration efforts instead, conveying its decision to Beach's management.

"The multiple party bidding process for Warrego has reinforced our view of the value of our dominant acreage position in the Perth Basin and encourages us to expand our current active exploration drilling program in one of the most exciting gas plays in Australia," Beach chief executive Morné Engelbrecht said.

"In applying Beach's disciplined approach to inorganic growth, we propose to invest further exploration capital into our existing prospects and drilling inventory in the Perth Basin. Beach will look to accelerate exploration, development and commercialisation of our acreage to deliver more gas for Western Australia,” Mr Engelbrecht said.


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## Dona Ferentes (12 December 2022)

Will Beach try to mop up other partners in the onshore Perth basin? There's plenty of acreage; NWE is in the mix.


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## divs4ever (12 December 2022)

given certain investment groups have decided to avoid in investing in fossil fuel exploration/development  , and a possible tightening of credit generally  , one might wonder how much major share-holder   The Stokes Family  and BPT  are willing to spend on acquisitions , will they be patient  , or calmly cherry-pick  the opportunities as they arrive ( for instance distressed engineering/services companies )

  i hold  BPT ( 'free-carried' ) and SVW


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