BPT - Beach Energy

[notting]

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]

BPT announcement on the 24/04 looks promising.

3810m deep exploration well with a 1km thick section saturated with gas.

 

[Boggo]

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]

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.

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]

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]

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]

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.

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]

.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]

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]

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]

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]

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]

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]

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]

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]

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]

(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.

Very close to it Cynical but whats your exit this time?

(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]

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]

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]

BPT announcement yesterday.

1.5 cent per share, full franked, dividend.