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.

Cynic... Go back to your bookis it Dr Jekyll and Mr Hyde?.

Closed half at 305.20, balance in the auction @ mkt.

Closed balance @ 304.60.

Small win on the last long. Slightly bigger loss on the earlier one.

looks as though you were lucky to get that, but glad for you
will you now kindly stop rising to the bait of the dogs-bottomed tabby?

book = Wolf Hall
highly recomended to those who enjoy historical faction (the rise of thomas cromwell)

Cyniche can bait me foreverits a game he or the rest of the gang cant winI have too many big guns mateI rather enjoy listening to his expensive upbringinggradually disintegrate
And the book sounds as boring as Brazil were..

Reading the History of Britain at the moment but haven't reached the bit yet about the demise of one of our great oilies that went the same way as our banks.

you are but a peasant and shall remain so

" The Rise And Fall Of The BP Empire "

agreed Cynners .....a cracking read covering the political intrigues of tudor england , and proof that even in such unenlightened times, a man of relatively low birth could aspire to such dizzy heights ..-unfortunately maligned by aristos and plebs alike ....and what a botched hideous execution ............ l spent a hideous afternoon watching brazil v.portugal - utter dross -...does the torture never stop ? ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Reg: Bp almost 35,000 "put" options around the $12 mark which would suggest it sinking to about 150p/ 160p or so here on UK mkt . Surely it must soon be up for exclusion fron FTSE 100 at next meeting ...gulp.... Surely ..Lord Browne must be at home - gin and tonic in one hand - pins in the other - slowly sticking them in effigy of that cretin Obama ......l cant stand that Obama man ......................Roly -you still on AOL ?

doesn't quite folllow as traded options are for exactly that ...... and fortunately i have not and have no wish to follow this footballing farago, though amazingly, Beloved says she will watch sunday afternoon - and i admit is shall prob watch sporadically, though the pool may be more enticing

agreed reg options- Obviously cant directly equate the two .-but niether can such an amount be ignored as an indicator of direction .lts Bloombergs biggest bet ..BUT the point i was attemting to make, but clumsily, was 35,000 puts ???? all betting as low as that !! ...tells you BP are not heading northwards in near future ( if ever ) and therefore certainly worth a short if so inclined .And quite sizeable if that sheer volume of puts are to be taken seriously -and i believe they are .......reg- footie .l like most sports mon ami. - rugby, footie , cycling, skiing , F1 ,squash.. dont you ? oh F*** ....lol i remember you like golf !!....lol thats not a sport as such cynic ...its a game - a pastime -like darts -,,but you dress in pink or yellow ... :- )) Roly you still on AOL ?

FC - Don't expect you to understand this, but if I could average 38 puts per round of golf I would be delighted :o)

sorry, but that's awful and easily remedied with a bit of application

Yes Jamie

cynic - Tongue in cheek mate, I'm not that bad, honest :o)

He is , honest :-)

Picks on me all the time.

More doom and gloom for BP... 200p on the way very soon.


As the first major tropical storm of the season formed this weekend, the warning by the chief of the US Coast Guard's revealed the danger of the approaching hurricane season to the clean-up operation.

Admiral Thad Allen said the two-week disruption would include time before and after the bad weather to prepare and he estimated that plans would need to be enacted five days before the arrival of gale-force winds. Ships in the area, including the vessels that are drilling relief wells to permanently halt the flow of oil, would have to completely evacuate the area.

The admiral said this would leave the oil flowing into the Gulf "unattended" after the "top hat" system was disconnected.

Tropical Storm Alex formed in the Western Caribbean yesterday, but weather forecasters are unclear of the final heading of the storm.

The National Hurricane Centre in Miami said Alex had maximum sustained winds of about 40mph.

This summer's hurricane season is forecast to be more active than usual, with 14 to 23 named storms and eight to 14 hurricanes.

As the tropical storm season gathers pace, work is continuing to drill the relief well and contain oil that is spewing into the environmentally-sensitive Gulf.

"Regarding the longer-term containment, we should by next week have the additional vessel in place," Admiral Allen said.

"That will bring us the three production vessels and the 53,000-barrel capacity we were looking for by the end of June.

The Coast Guard plans to be producing from four different platforms by mid-July, increasing the rate from 60,000 to 80,000 barrels.

.

hyleo - i think a short in the morning will be a wrong call, and worse if you already have same - see ST headline

News today also that Libya have granted BP drilling rights in new field.

I'm not suggesting BP's long term woes are over, however i think we'll see a short term pullback to 320/330 pretty quickly. I think those in the USA that matter must realise pretty soon that too deep a fall in BP's share price will leave the company in a position where it cannot afford to cover the clean up costs - so who would pay then?

Even the most hawkish USA observers must recognise that nobody wins if there's no corporate carcass left over to pick clean.