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.

CM

Listening to yout rantings over the past week or so I can only assume you are slowly losing the plot.

DealerI think slowly is being very diplomatic?

The golf sketch where the ball lands in sand on a moving train and he finished his round in darkness..classic.

The sp is for the first time showing some strength as it has not set a lower low despite so much doom and gloom about virtually everything and anything in the markets

Indeed the weekly charts are becoming a lot more encouraging as we could see a reversal pattern emerging very soon. Also worth noting is that the UK volumes are now significantly lower than what we have become accustomed to lately further indicating ( most likely ) that the sellers are running out of stock

i don't say your wrong, but it's a pretty brave call (either way) unless you are sat in front of a screen all day and are prepared to nickel and dime

Issues at the moment ......

NEGATIVE:

General sell off of equities resumes; the 'correction' to the 15 month rally may be deepening. Many reasons for this; all subject to change.

BP's US bonds are getting flogged mercilessly; firstly by the CDS (insurance) market and lately in by bond traders/investors. Quoting the FT:
"BP has the most shorted bond among US investment grade corporate issuers, and, unusually, more of its bonds are being borrowed for shorting than its shares." Obviously, this knocks on to the equity price.

The full extent of potential storm/hurricane disruption and the consequences of that is only now being factored in.

POSITIVE

Whilst there's no evidence that the incumbent US politicos expressed desire to lynch BP has been mollified, utterances have become more measured of late. It seems that BO in particular is persuaded that a ruin of BP is of itself decidedly undesirable from a US and especially Gulf regional perspective.

The progress with the relief wells continues to proceed ahead of schedule and it is possible (in the absence of disruption) that kill operations may proceed before end of July.

BP will already be preparing the ground for new strategies and ventures.
Perhaps the most interesting investigation:

"Tony Hayward, met with the head of Russian oil producer OAO Lukoil Holdings (LKOH.RS), Vagit Alekperov, Monday to discuss possible joint projects, the Russian company said Tuesday.
They talked about joint projects both in Russia and abroad, Lukoil said in a statement without giving further details.

Hayward and Alekperov also discussed lessons learned from BP's oil spill in the Gulf of Mexico."

Libya has recently given BP the green card regards future drilling there.

BP is not reliant upon the US, let alone deep sea wells in the Gulf of Mexico, for a successful future and unquantifiable as the costs of Macondo may be, BP ultimately has options to limit the consequence of these by what it decides to do with its US business unit which still has assets of greater worth (to others) than any sensible estimate of the Macondo liabilities.

that's pure rationalisation, and though fundamentally true, this stock will stay very unloved at least until this hole is finally blocked ..... that will give a quick fillip - from what level remains to be seen - but then counting the cost begins

Clubman3509

You have a large ( big or fat ) PIG on the 488 post

         LUNCH TIME FUN

Most UK working class would like pork on their Sunday roast

Very wide typical jew boy also slipping Kate Moss one.

Though the share price is at the moment just holding above 300p the futures on the US are moving higher at the moment from &27.05 to $27.17 that implies a price of 305p

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

Down goes the Dow now below 10000 and headed South

Still overvalued 100p would be fair value.

Don't talk like a male organ

t
just read your post 461 p24. sounds to me like sort of druid and stonehenge and summer solstice and all that stuff.end of month tomorrow.
regards
jkd

The world is going to end

1 sounds about right for time being, but come christmas when the ftse sits around 3500/3750 BP could be below a pound !

nord - have you married money with mouth?

JKDClubby wanted me to put a pikey curse on BPdont do pikeydont know many curses
Now had he wanted cussesIm your Man!!

i am surprised or even amazed that sp has held onto 300 despite the carnage everywhere else