BPT - Beach Energy

[So_Cynical]

Ill do some selling above $2 - pocket some profit.

 

[greggles]

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.

 

[So_Cynical]

Ill do some selling above $2 - pocket some profit.

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.

 

[systematic]

I reckon 2.50+ is on the cards this year.

Hope so!

 

[So_Cynical]

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.

 

[Knobby22]

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.

 

[So_Cynical]

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
~

 

[Ann]

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).

 

[Ann]

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.

 

[So_Cynical]

Everything fine - just the price going down a little after going up a lot...

 

[Ann]

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.

 

[Ann]

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.

 

[systematic]

Why are we watching poo?

 

[greggles]

Why are we watching poo?

POO = Price Of Oil

 

[systematic]

POO = Price Of Oil

Thanks mate - I honestly did not know that!

 

[Miner]

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 ?

 

[So_Cynical]

Saudis and Trump love fest, lower demand and lower prices, POO predicted to dip under 50 in coming days.

 

[Ann]

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.

 

[aus_trader]

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

 

[jbocker]

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.