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.

Another early morning shake-out.

Aug. 29 - 2010(Bloomberg

BP Plc s internal investigation of the Deepwater Horizon rig disaster found company engineers misinterpreted pressure data that indicated a blowout was imminent, according to a person familiar with the report.

BP managers aboard the Transocean Ltd .-owned rig misread a test of the Macondo wells stability on April 20 and began replacing drilling fluid, which is heavier than oil and natural gas, with seawater, said the person, who spoke on condition of anonymity because the reports findings havent been publicly released.

The seawater was too light to prevent natural gas that had begun leaking into the well from shooting up the pipe to the rig, where it exploded and killed 11 workers. The damaged well eventually spewed more than 4 million barrels of crude into the sea, enough to fill two supertankers.

BP intends to announce the findings of their internal probe in the next 10 days, the person said. Scott Dean , a U.S.-based spokesman for BP, didnt return messages left after regular business hours on his office and cellular phones.

The 200-page report was compiled by a team of BP investigators led by Mark Bly, the London-based companys head of safety and operations. The report concluded BP bears at least partial responsibility for the incident that led to the largest oil spill in U.S. history, the person said. Blys team also found that Transocean shares the blame, the person said.

Blys team began conducting interviews and reviewing internal documents just days after the Macondo well erupted about 40 miles (64 kilometers) off the Louisiana coast in the Gulf of Mexico.

375p -4.30p

WTI Crude Oil down -1.54% @ $73.55

Climbing nicely back up.

Moving forward over the last couple of days and hopefully make 4 before long.

Looking like Divi's starting again in the New Year...should crank the sp up over the coming months.

4.50 getting close :-)

ADR's finished nicely up last night so hopefully the Yanks will keep buying today, when NY opens, and may get close to 4.50 here by knockoff.

Could do with Wall Street having a good day and turning the LSE a bit more Blue!

Results due tomorrow.

Favourable reaction from the market so far this morning, with the results:-)

4.50 looking like it will be reached/passed today...providing the Yanks play Ball this Afternoon.

4.50 breached and now to see if it will hold till the close:-)

sp getting solid above the 4.50 mark now :-)

is this the talk to ur self chav thread......good luck

lol...thanks marky ,although BP is one stock you don't really need luck with at this price. I got some more DES at 1.2275 this morning which will feed my adrenaline side whilst I watch BP creep up with my slipppers on and Cocoa in hand!

I think of BP as a Bank where I put my spare cash and it makes good interest till I need it for something else.

Makes perfect sense to me chav,what was the lowest you got them at?
RKH my banker i hope,thinking of putting them rubber wings on and Frequenting with a few tally ho,s up by till I have to go back down my mine to work tonight!!!!

This wet weather is no good for my clogs I dont get the same clip clop more like a splash plop,tom should be a better day to get some coal up.

4.07...didn't risk getting any till the Well was plugged!

Keep plugging it CHAV. in at 420p

After yesterday at DES BP is showing that the tortise can win in the end!!!