The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

Come on BP 500

sp roaring ahead in NY as dow also recovers well ...... $40.91 at london close ..... currently $41.34

$41.36 at london close

hey cynic, did you get my e mail??

no - to which address did you send? .... MAM system or aol or my office?

btw, expect BP to open down perhaps 6p or even more as weak shoing in NY last night

must be the office one cyners.

nope; not even in junk! .... will re-send my e- addresses via "the system" now

must admit the mobile VOD broadband wasn't very good at times up in the dales.

did you go to osmotherley?

re-sent e, though this was sent around Tuesday last week, lol. Yes we did, all in e.
BB

perhaps i missed, but now replied

$39.58 at london close
$40.25 at 19:45
$40.12 at NY close

$39.05 at london close

some of us miss you here too, so just behave yourself!
sorry you had a rubbish day; i was lucky enough to be blue overall

Who was that to cynic... i have no one squelched but not sure who you missed?? not me surely..

clubby actually, but i guess bullshare has deleted his posts .... he was being singularly and drunkenly stupid last evening

read through the blinx thread.....like a scene from coronation street....hand bags at dawn.,.

Tomorrow's TELEGRAPH ..............

Gulf of Mexico Oil Spill: BP awaits relief well go-ahead
Final approval could be given to BP to restart drilling its relief well in the Gulf of Mexico on Tuesday after a series of last-minute tests.

By Garry White -- Published: 8:21PM BST 16 Aug 2010

No drilling has taken place since BP sealed the Deepwater Horizon with its 'top-kill' procedure Photo: REX
If permission is granted, it is hoped that the relief well will seal the well for good, drawing a line under the biggest operational disaster in the company's history.

BP engineers and US government scientists are concerned that cement poured into the well from the top earlier this month has squeezed back up into a space between the well pipe and the surrounding rock, trapping about 1,000 barrels of oil.

Admiral Thad Allen, the National Incident Commander, has asked for a full analysis of potential complications before permission to restart drilling is given.

"There's nobody that wants to have this happen quicker than I do, but there's nobody who wants to incur more risk in this operation," Admiral Allen said.

No drilling has taken place since BP sealed the well with its "top-kill" procedure.

Injecting heavy drilling mud and cement into the Macondo well through the relief well will increase pressure and could force the oil up and out into the Gulf, Admiral Allen said.

The developments came as BP shares fell 6.65 to 409p on Monday on concerns that legal challenges to the group are mounting. Last week, the State of Alabama said it is suing the company for the "catastrophic harm" that had been caused by the spill.

BP on Monday pledged oil sales from its Angola and Azerbaijan operations as security on $5bn (3.2bn) of loans as it builds up a war chest for potential claims. BP is borrowing $3bn, backed by income from Angolan operations, and $2bn linked to revenue from the Azeri-Chirag-Deepwater Gunashli field, offshore Azerbaijan.

Royal Bank of Scotland and SociGale are arranging the Azerbaijan loan, while BNP Paribas and Standard Chartered are coordinating the Angola-backed deal.

The loans have maturities of five years and it is believed they will pay interest at more than one percentage point above the benchmark lending rate.

$38.06 london close

I've done a Fibonacci a couple days ago, and it was pointing to a move down to around to 384p for the good retracement of 38.2%.