BPT - Beach Energy

[white_goodman]

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

 

[hsv2001]

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

 

[oldblue]

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.

 

[pointr]

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.

 

[roland]

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


VIENNA, Austria (AP) -- OPEC oil ministers agreed Wednesday to trim overall output by more than 500,000 barrels a day in a compromise meant to avoid new turmoil in crude markets while seeking to bolster falling prices


The news sent oil prices rising. Light, sweet crude for October delivery rose 97 cents to $104.23 a barrel in electronic trading on the New York Mercantile Exchange.

The OPEC announcement reflected the organization's efforts to cover all bases in an oil market that saw prices spike to a record high just short of $150 a barrel in July, only to shed nearly 30 percent off those peaks in subsequent months.

Oil prices had lost more ground Tuesday ahead of the decision, falling $3.08 to settle at $103.26 on the Nymex, the lowest settlement price since April 1.

A statement issued by the Organization of Petroleum Exporting Countries issued after oil ministers ended their meeting early Wednesday said the organization agreed to produce 28.8 million barrels a day. OPEC President Chakib Khelil said that quota in effect meant that member countries had agreed to cut back 520,000 barrels a day in production over the established quota.

Saudi Arabia alone accounts for more than that amount of output over its official quota -- all members of the 13-nation OPEC have such formal production limits allotted to them except violence-torn Iraq. But Khelil said that the cutbacks in overproduction would apply proportionally to all OPEC members bound by quotas.

OPEC overall regularly churns out oil above the organization's overall quota, last set in November at 27.3 million barrels a day, and it remained unclear whether group members would abide by the decision to keep to their limits.

Still, the decision could have the psychological effect of steadying eroding prices at or above the $100 mark -- the red line for many OPEC nations concerned about their rapid loss of revenue in recent months.

While the new production limit of 28.8 million barrels a day is above that set in November, the statement said it reflected adjustments to include new members Angola and Ecuador and exclude Iraq, as well as Indonesia, which used the Vienna meeting to announce it was suspending its full membership.

Saudi Arabia was widely believed to be leaning toward maintaining the status quo heading into this week's meeting -- a view shared by its Arab Gulf neighbors. Wednesday's compromise, while promising to tighten up global supplies, does not amount to an official cutback by the cartel.

"At the end of the day, all they're saying is: 'we've been cheating for the past year,'" said analyst and trader Stephen Schork, who was monitoring the meeting in Vienna. "I wouldn't say the Saudis backed down. I'd say it was a respectful nod to the other members of the group."

Saudi Arabia and others opposed to a major pullback are concerned that high oil prices will kill demand -- a trend that has already begun in the U.S. and other big oil-consuming nations. But at the same time, OPEC countries' economies are being buoyed considerably by crude's historically high price and members are not eager for the flow of money to ease.

Some observers said Saudi Arabia and other U.S. allies in the Middle East also do not want OPEC to become more of a target for American consumers fuming over historically high fuel prices in a highly charged presidential election season.

The impact of Wednesday's compromise remains to be seen.

The half a million barrels OPEC said it will shave from the market is similar to the amount of additional crude Saudi Arabia unilaterally promised to pour onto the market over the summer when prices were setting new weekly, if not daily, highs.

OPEC's statement Wednesday noted that "prices had dropped significantly in recent weeks driven by a weakening world economy ... with its concomitant lower oil demand growth, coupled with higher crude supply, a strengthening of the U.S. dollar and an easing of geopolitical tensions." And it warned of the possibility of further price erosion, forecasting a possible "shift in market sentiment, causing downside risks to the global oil market outlook."

But analysts said several factors could stem any further slide in prices over the next few months.

"There are good reasons ahead for prices to turn toward the upside," said Johannes Benigni, managing director of JBC Energy in Vienna. "Take the next hurricane," he said, alluding to the chances that -- after a few near misses in recent weeks -- further storms could savage oil installations in the Gulf of Mexico.

He also warned against expectations that non-OPEC suppliers could make up for any added demand for crude in the traditionally high-use Western Hemisphere winter season, saying "OPEC will have to step in to fill the gap" if other suppliers come up short.

Others said that OPEC's concerns were well founded.

Oil analyst Cornelia Meyer said she expected OPEC to "wait and see what is happening to the global economy and depending on whether China and India are (also) affected, we will see them do a cut" in December.

Oil demand from China's and India's booming economies have helped fuel oil demand and drive up prices.

Ehsan ul-Haq, head of research at JBC Energy, also said it that OPEC "might have to cut production below its set target." He mentioned a further downturn in the U.S. economy and the possibility of a mild winter as possibly depressing the world's appetite for crude by year's end.

Khelil said the request to curb overproduction was effective immediately with a 40-day window for it to take effect. And he suggested bigger cuts may be in the offing if prices continue to slide, telling reporters that OPEC would "swiftly respond to energy developments which may threaten oil (market) stability."

At the next OPEC meeting Dec. 17, in Oran, Algeria, the organization would "reassess the market situation," he added.

Since crude surged to a record $147.27 a barrel on July 11, it has tumbled by over $40, or more than 27 percent. Still, prices remain close to 14 percent higher this year than in 2007, and a barrel of benchmark crude still fetches four times what it did five years ago.

A couple of BPT announcements today with increased drilling activity and the Geo Thermal energy keeps me interested and buying.

 

[roland]

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

Imagine turning the tables so that soaring oil and gas prices would make you a fortune, instead of costing you one...

Well, that's exactly what a group of savvy investors has done and is about to do again...

I call them oil's hidden millionaires.

They aren't Saudi princes. And they don't own oil-rich land in Texas or mineral rights in Oklahoma.

But by taking one simple action, they cut themselves in on a HUGE oil and gas fortune...


Whatever you do, don't make the mistake of thinking gas won't hit $5 a gallon...

It's already a fact of life in London, Paris, and Stockholm -- and has been for years.

When $5 gas hits our shores, it can either be the best news you've heard in a decade -- or the worst. And it's likely to happen sooner than you think...

- The CEO of Total SA, one of the world's largest oil companies, recently confessed that the world can't increase oil output beyond current levels.

-The Wall Street Journal reports that output from the world's existing oil fields is dropping about 4.5% per year and by up to 18% per year at some of the biggest oil fields in the North Sea, Alaska, and the Gulf of Mexico.

- The New York Times reports that many of the world's top oil exporters may have to begin importing oil within a decade to keep up with rising energy demands inside their borders.

Of course, some people -- like the OPEC ministers -- claim that oil isn't running out. But can we really trust them?

They've got a stranglehold on nearly half the world's oil supply, and are concerned only with maximizing profits and adding to their already obscene wealth.

Just last year they quietly raked in a cool $675 billion -- up 10% from the previous year -- while we sat back and watched soaring gas prices gobble up our hard-earned cash.

No wonder The Economist says, "OPEC is more likely to worsen a global slowdown by keeping prices high than it is to ease one by allowing them to fall."

And it's not hard to see why legendary investment bank Goldman Sachs now says, "The possibility of $150-$200 per barrel seems increasingly likely."

This will end up costing all of us thousands, BUT it could make a few of us millions...
To understand how, let's step back for a minute and assess the current situation...

Demand for oil is soaring worldwide. And the fast-growing economies of China and India, in particular, are putting a huge strain on supply. Meanwhile, that supply is shrinking -- creating what experts call a "super-spike."

That, in turn, has oil and gas companies desperately scrambling for new oil and gas finds.

Merrill Lynch & Co. Vice President Thomas Petrie told The Wall Street Journal, "People are running hard to find new sources of oil, and that's just to keep even."

And right there is our opportunity!

You see, thanks to soaring prices, oil and gas companies can now afford to search for reserves in places that had been considered way too expensive before. And all across the U.S., once-marginal oil and gas fields are becoming virtual cash machines.

But only a handful of highly specialized companies have the state-of-the-art technology, the specialized skills, and the artful know-how needed to locate these profitable gushers.

"With no breaks on the price of oil, plus energy companies' insatiable appetite for exploration, times have seldom been better for service companies that find drillers' bread and butter."

-- Investor's Business Daily

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 ????

 

[hsv2001]

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

 

[oldblue]

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.

 

[hsv2001]

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.

 

[roland]

Thought I would spread my misery around with all my holdings. Maybe my losses will brighten up someone else.

BPT -17.79%

 

[seasprite]

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.

 

[roland]

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.

Total oil and gas revenue advanced to a record $182.8 million in the first three months of the new financial year - up 9% on the immediately preceding June quarter and 53% higher than in the previous corresponding September quarter.

The latest growth followed the record revenue of $564 million achieved by Beach Petroleum in 2007-08 which was up 20% on $472 million in the previous financial year.

The latest quarterly revenue boost was driven by increased prices across most of the Company’s products, coupled with significantly higher oil shipments, partly offset by lower sales of gas and gas liquids.

Looks like it'll be worth hanging around for a little while longer with Beach

 

[oldblue]

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.

 

[seasprite]

well that's hardly surprising Brownlow 1 was going to be successful. That still makes it 100% success rate in this permit (PEL 106).

 

[roland]

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.

 

[seasprite]

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%.

 

[fringedweller1]

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

 

[oldblue]

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.

 

[fringedweller1]

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

 

[nomore4s]

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.