BPT - Beach Energy

[thierry]

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

good signs.. looks to be a breakout imo

 

[Kauri]

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

 

[CanOz]

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

Weekly chart posted.

Cheers,

 

[legs]

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

 

[CanOz]

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]

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

 

[legs]

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]

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

 

[Kauri]

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

 

[Sean K]

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]

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 ....

 

[TheRage]

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]

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.

 

[legs]

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

 

[Col Lector]

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]

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]

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]

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

 

[legs]

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]

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.