BPT - Beach Energy

[Aussiejeff]

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

 

[motorway]

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]

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 .

 

[Aussiejeff]

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!*

 

[motorway]

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

 

[white_goodman]

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

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

 

[motorway]

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

 

[white_goodman]

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

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

 

[motorway]

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

 

[Fab]

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

 

[vishalt]

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 .

 

[oldblue]

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.

 

[urgalzmine]

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.

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

 

[oldblue]

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.)

 

[stargazer]

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

 

[urgalzmine]

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

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

 

[oldblue]

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.

 

[56gsa]

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.
The trip will begin by visiting the Paralana Geothermal project (near Arkaroola) in South Australia’s north, culminating with an Arkaroola Ridgetop Tour to view the site from a peak in the rugged Northern Flinders Ranges and overnight accommodation at Reg Sprigg’s beloved Arkaroola.
On the following day, after a flight to Moomba, the tour will travel west through the Strzelecki Desert to Cooper Creek to view Beach Petroleum’s very active operations there.
The trip begins and ends in Adelaide. To join the trip you will be responsible for travel to and from your residence to Adelaide at a time and date in September 2008, to be advised. Conditions in the north of Australia may be extreme. Some travel may be in open sided 4 wheel drive vehicles open to local weather conditions. Please consider your personal circumstances and ability to travel in such conditions before submitting an entry to us.

 

[vishalt]

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.

 

[mime]

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