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.

Namrehif shareholders got what they wanted with Lord Brownthey certainly will not want what they have now!

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I blame Tabby he has put the pikey curse on BP

i sold half at a decent profit considering only held for a few hours, and balance is showing a minimal loss

Double... double toil and trouble... fire burn... and cauldron bubble....

The time could be right for a bounce, as there is some support at 303/305p.

just bought some at 305.50p
The price at the US is strong.

link to BP. futures on the US .............. BP. futures

2 days chart

Everything is almost right with the Indicators

ADRs at $27.94 will do for london time closing price

From the Telegraph ...........

Stop bashing BP
Letters from the weekly world edition, Issue 988
Published: 5:47PM BST 28 Jun 2010

Stop bashing BP

SIR It looks like theres a new poodle going to Washington, now that David Cameron is hell bent on reprising Tony Blair. I refer of course to the shameful silence from Downing Street over the treatment of BP executives by vote-hungry politicians from Congress and the White House (reports, Issue 987). Surely, the recall of the Brit ambassador would be appropriate in the circumstances, and the hauling over the hot coals of his counterpart in London? The very least the new poodle ought to do is cancel his proposed trip to his master in DC.

SIR The rantings against BP by Barack Obama for political ends are quite disgusting.

I have not yet seen one word showing what BP should have done or what it should not have done. I have no doubt whatever that no one knew how to deal with such an accident. BP would have been glad to have had experienced advice. One might suppose from this typically American hysteria that BP enjoyed seeing its oil assets run away and the loss of goodwill caused by the fouling of the coastline.

The plain fact is that the authority that licensed drilling beneath a mile of sea water without any knowledge as to how to deal with such a spill is entirely to blame and since that authority must have been glad to see the American treasury share in the profits they should most certainly share the cost of the clean-up.

I assume perhaps ignorantly that the exploitation of this oilfield was done with the approval of American authority, but I feel that this is a fair assumption since there is nothing to show that blame is being laid on any other nation, which the Americans would be very glad to do if possible.
G. K. Forshaw, Cape Town, South Africa

SIR I now can safely assume, since BP has been forced to establish a compensation fund for victims of the oil spill, a fund will be established by the US government and US banks to compensate the victims, workers and investors of the global financial crisis.

As the US government recklessly allowed sub-prime loans and its reckless lack of oversight of those reckless US banks allowed those sub-mortgages to be packaged as reckless investments, surely both the US government and US banks should also be on the receiving end of a shakedown and not a bail-out.

Nigel Dennison, Mole Creek, Tasmania

SIR Environmental destruction has in the past been wrought on Americas coastline by US companies. They did not have their chief executives pilloried by Congress. It is perhaps ironic that the sum Barack Obama strong-armed out of BP is not unadjacent to the $18.4 billion that the US treasury transferred to US business to rebuild Iraq after the shock and awe. We all know how well that was managed.

What assurance do we have that US-managed reconstruction and clean-up efforts will be more efficient this time?

Simon Barry, London, SW1

SIR Watching Tony Hayward, BPs chief executive, being grilled, I found myself thinking of Senator Joseph McCarthy.

As someone by inclination pro-American, I am almost as disgusted by their vote-chasing politicians as I am of their ambulance-chasing lawyers.

John Carter, Shortlands, Kent

SIR As one of Mr Obamas little people a pensioner dependent on BP dividends for much of my income, which I shall not now receive either as a direct dividend or through my pension fund can I claim against the $20  billion fund, or do I have to be an American?

April Thacker, St Mary Bourne, Hampshire

preparing for the Bottom KILL - very good video lasting 10 minutes

link ........... Bottom KILL preparation

BP at the end of the day have an open liability nobody can put a price on the final total this disastrous oil spill from their Deepwater Horizon project it was long ago the worst US eco-disaster in historyI dont understand who is responsible for risk assessing the project and since BP provides its own insurance cover the costs will fall directly on its own balance sheet and shareholders
The potential for legal pay-outs will be immenseBP has promised that everyone damaged will be properly compensated American courts have a regular habit of being extremely generous with their awardsthen you have the environmental groups who are bordering on bonkers but have very deep pockets when taking on a fightthen add into the equation they are all dealing with British Petroleumoh dear!I have no financial interest in this companybut any person posting a buyshould get medical help

tabby - though most of what you say is true, much of this will be dealt with at gov't level

When it closes below 3 (sometime this week) the following day you'll be wiped out for at least another 10 % - Anybody going Long on this must be insane.

Sub 300p today I would guess.

For those interested on BP. moving lower ( tabasco and nordcaperen today )

FTSE is down 110 points

And BP. holding around the 300p, already marked down from the start of trading.

Maybe YOU should look at the shares you own instead ( i guest is much worse )

My Palestinian friendI have no interest in seeing BP failother than for the treatment Lord Brown receivedI wish you well!!!
I just believe this stock is a massive risk to our kids inheritancenothing more

to plagiarise marty feldman playing mr christian - oy, tabby, have you got the wrong fella!
i no longer hold any position .... closed the balance this morning with a minimal profit/loss overall

BP are holding up well considering the fall of the FTSE below 5000 and the Dow ready to crash down below 10,000 on opening. A good day for shorts.

I'm long again.