BPT - Beach Energy

[Caliente]

Hi, my report from Merrill Lynch rates this stock as a buy with a 12 month objective of $2.00 on the back of the Delhi acquisition.

Looks like this may be worth a spot on the portfolio, as a medium term play.

As always, DYOR.

 

[mas888moe]

Hi everyone,

Did you read the announcement about the shortfall of renounceable rights posted today? Do they mean that 72% of options were executed or was it only 28%? It was not clear.

Euroz valuation of Beach shares is currently $1.89! Do you think the share price will reach this by the end of 2006?

 

[Sean K]

Hi everyone,

Did you read the announcement about the shortfall of renounceable rights posted today? Do they mean that 72% of options were executed or was it only 28%? It was not clear.

Euroz valuation of Beach shares is currently $1.89! Do you think the share price will reach this by the end of 2006?

If the H&S pattern breaks down, then $1.60 is possible, but there's a lot of resistance around those levels. Would need POI to go through $65 for this to finish the year well.

 

[champ2003]

The shortfall with the R Rights Issue was approx 50 mill shares and the uptake was approx 72% which is still a decent result IMO.

BPT will come into another 240 mill per year starting within the next month and i think the market will start to re rerate this company in the coming months.

 

[Sean K]

BPT will come into another 240 mill per year starting within the next month and i think the market will start to re rerate this company in the coming months.

Champ, is the 240 m the Delhi acquisition?

 

[champ2003]

Champ, is the 240 m the Delhi acquisition?

Hi Kennas,

No the 240 Mill that i'm talking about is revenue on top of that and its starting now with the Basker Manta oil field coming online with full ramp up completion in early December.

Cheers

Champ2003

 

[Sean K]

Beach seems to have broken the potential to form a H&S and has headed north, with no ann Very unusual for BPT to go up 7% in one day.

On the way up again?

Next stop $1.60 ish?

 

[champ2003]

I recon that the fundamentals are now catching up which is driving the share price. Keep in mind that it is soon to be the 3rd largest pure asx listed oil&gas company. Reserves are something like 3 or more times that of AWE and ROC. Its about time the price shot up i say

 

[Sean K]

Beachy is starting to worry me. Looks to be rolling over a hill with the H&S still a possibility. Really had the breaks on for months. I suppose POI is holding it up, and we need to hear how the Delhi deal has gone and the bedding down process....Maybe for the bottom draw. Or, maybe cash in, a take the money to Crown.....

 

[traderandy]

Very true, starting to worry me too...

When they announced last week at their AGM that they had "joined the big league of Australian oil and gas producers" I was keeping a very close eye on the chart - the SP had just bounced off the 50MA for the second time and was right at the downward sloping resistance line.

Couldnt break through so we'll just have to wait and see what happens

 

[Sean K]

Very true, starting to worry me too...

When they announced last week at their AGM that they had "joined the big league of Australian oil and gas producers" I was keeping a very close eye on the chart - the SP had just bounced off the 50MA for the second time and was right at the downward sloping resistance line.

Couldnt break through so we'll just have to wait and see what happens

Under $1.30 and I'm out I think. Looks to be critical support.

 

[Ken]

whats going on with BPT?

and COE they are both stinking it up!


COE should be way higher than it is...

 

[traderandy]

The price was starting to rise over the last few days but they've just announced that the Talia-1 well (joint with GOG) is going to be plugged and abandoned...

trading halt atm

 

[champ2003]

Looks like BPT's about to hit blue sky's.

 

[CanOz]

Looks like BPT's about to hit blue sky's.

Blue sky? Are you implying that the share price is close to all time highs??????????

I could have sworn it was still stuck in a range....has it broken out?

Bugger, must have traded really well after the close today...serves me right for logging out early.

Cheers,

 

[champ2003]

Nope but i'm implying that it could welll be in the near future and with the amount of buyers built up underneath now it looks like a rocket is about to take off.

 

[CanOz]

Nope but i'm implying that it could welll be in the near future and with the amount of buyers built up underneath now it looks like a rocket is about to take off.

Depth means very little as it only represents the buyers and sellers on the screen. There's allot of resistance left to get through yet. The oil price needs to rally, and that hasn't been confirmed yet. There will still be time to get into oil stocks when things do turn around. I'm sure there are others here that would be waiting with thier fingers on the trigger to get back into oil.

It does look like a triangle though. Can't see it being a really explosive breakout when it happens but you never know.




Cheers,

 

[champ2003]

Depth means very little as it only represents the buyers and sellers on the screen. There's allot of resistance left to get through yet. The oil price needs to rally, and that hasn't been confirmed yet. There will still be time to get into oil stocks when things do turn around. I'm sure there are others here that would be waiting with thier fingers on the trigger to get back into oil.

It does look like a triangle though. Can't see it being a really explosive breakout when it happens but you never know.




Cheers,

Hey Canaussie,

I see what you mean with your chart however there is so much more to it than that. IMO its really important to read all of the announcments to know where a company is at. No offence but if you were really up to speed with this company you would know about whats about to happen. The fundamentals will change the pattern on your chart quick smart. IMO December will be a pretty decent month for BPT.

 

[Sean K]

Blue sky? Are you implying that the share price is close to all time highs??????????

I could have sworn it was still stuck in a range....has it broken out?

Bugger, must have traded really well after the close today...serves me right for logging out early.

Cheers,

LOL.

And I am sure you know nothing of this company CC. Stick to analysing beavers and salmon buddy. he he. Cheers, kennas.

 

[CanOz]

Hey Canaussie,

I see what you mean with your chart however there is so much more to it than that. IMO its really important to read all of the announcments to know where a company is at. No offence but if you were really up to speed with this company you would know about whats about to happen. The fundamentals will change the pattern on your chart quick smart. IMO December will be a pretty decent month for BPT.

Ok ok, whats about to happen? I've held BPT several times and its bitten me every time. I realise they're the next big player in the oil game and all that, but other than that, i'm not too fussed about the fundementals. To me the price action says it all. I just don't think its going to move quickly, thats all.

Kennas....Beavers and Salmon???? Whats that all about?

My point in being so sarcastic in my first reply was just to make a point at what was a groundless comment on the stock. I really think BPT is probably a quality company, but if you're going to claim something, then give us something, especially those like myself who don't research Fundy stuff at all.



Cheers,