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.

Agreed Mr. H ...Cynners obviously reminiscing about his hedonistic past :-))- you sure you didnt get your chotapegs confused with burrerpegs last night Cynners ? ............................................................................................. must confess i find the p/c (aka social engineering enforceable by draconian legal penalties ) that has permeated the Brit way of life this past 20 years is absolutely infuriating/gauling ; absurd is perhaps a better adj....lts all ONE way traffic .Nowhere in the rest of the world- excluding the USA -does this sheer nonsense occur ,and look at the state of that crazy place......C/man - Now dont get me wrong; l have no problem with genuine nationalism but FFS take a chill pill ..John Birch or Barry Goldwater would be proud of your postings esp. with your references to KKK ,but your collective posts, sound one step short of the chilling rattle of the cattletrucks being coupled , doors sliding into their locking mechanism .......and a long journey east .

hali - not at all envious; living in f/e has no appeal for me whatsoever ..... however, i have considerable distaste for the "buy a wife" culture that is now quite common - applicable to FSU countries and similar too ..... i am even more concerned about the underlying far right tendency that has underlain british society for centuries, and which regularly re-raises its head

for all that, and before various members start getting over-excited, i am assuredly strongly opposed to the indiscriminate open-door immigration that has been permitted in recent years

cynic havn't you met any "trophy" wives here in UK?

yes, but though you may call it semantics, it's not quite the same thing, as those wives are often pretty shrewd and manipulative, whatever their counterpart may think ... admittedly the fatter the wallet, the more attractive the man; ask bernie ecclestone!

to me, it's the expected and offered subservience of (most?) these bought f/e and e/e women that i find distasteful, but then i don't find it appealing either

BP's shares have shed 40% of their value in the past two months. The company was worth 73 billion on Friday. Industry sources warned that if Obamas administration removes a cap on potential liabilities, as several politicians have proposed, BP could be forced into Chapter 11 bankruptcy protection.

Last week an American government panel increased its estimates of the size of the leak, saying the well was spewing as much as 40,000 barrels a day, equivalent to the Exxon Valdez spill every five days.

The revelation heaped further pressure on BP in America, where it has been vilified in the press and by Obama. The president has suggested that Tony Hayward, BPs chief executive, should be sacked and that the company should halt its dividend until the clean-up is completed.

Hayward faces a grilling by the House oversight and investigations sub-committee on Thursday. To prepare he will face a murder board a dress rehearsal by his lawyers.

The appearance may be made more difficult by the next phase in BPs effort to control the spill. It is capturing 16,000 barrels a day from the well and this weekend will hook up another system to take an extra 5,000-10,000 barrels. The oil will not be captured but burnt off, creating an enormous plume of black smoke. Politicians and environmentalists have expressed concerns about the resulting pollution.

BP said this weekend that two tankers capable of handling 50,000 barrels a day would not be available for another month.

More nasty news at BP, sell at 378p.

there's certainly nothing obvious to support sp, so i was very slow off the mark this morning ..... anyway, still prob a shekel or two to be made

What is a shekel, is it jewish money

now who would have thought you ignorant?
how can a currency be jewish? ...... or catholic or methodist or anything else of that ilk

whilst there doesn't appear to be anything short term going for this company. long term i believe it will go back up again and [re-]continue with its divi's. [although i dont subscribe to 'its too big a co to let fail' i do believe it is in the interests of the US & UK for it not too

the 64 million dollar question is: what is a good price to start accumulating these?
ie anyones crystal ball able to predict the bottom for an initial purchase and then a monthly drip feed. the idea being that they should grow sufficiently to help pay off the mortgage in 20 years time.

Alex

I personally think anything below 200p would be fair value given its high cleaning up costs, payments to Americans who lost their incomes, oil loss, etc.

that is where i was thinking. just wasn't sure if anyone else thought they get that low

certainly no hurry to buy today as heading sharply south again now US has opened for biz

The worst is yet to come for BP. Real costs of expenses are still unknown.
Really no hurry to buy into it yet. More downside on the way.

can't disagree, but caution with shorting still required, as a squeeze can be sudden and painful - e.g. friday, clearly when many positions were closed

360 is the 10-year low as shown above, but this is a new ballgame and once that level is conclusively broken, then almost any level is possible ..... certainly the divi is almost certain to be abandoned for now, so no good reason to hold on that basis .... however, all the big institutions and pension funds etc are almost obligated to be holders ..... there will also be behind-the-scenes political manoeuvring which will influence

BP's future liability is (almost) incalcuable at present, this reminds us of the asbestiosis liability problems years ago. This was ultimately resolved by Cape buying insurance and capping their liability. At this stage only very brave/stupid PI's buy into BP.

Given the sharp sell off today, and no end in sight, alas, this problem has become a political one. As soon as Cameron bucks up and gets to grip with the crises, then the short traders and other speculators will continue to pour it on BP. In my mind, BP has to start fight tough, and hard, and even ugly, because the vultures will want to screew them totally. BP must use every dirty trick in the book, because that is exactly what its adversaries are doing. It now dog eat dog time

hali - i rather agree .... though sooner or later this leak will be plugged, that will only be the starting point for assessing BP's liability - and of course BP are self-insured

clubman - i don't think BP has much of a hand to play, other than it has huge resources in both cash and assets ..... while there are obvious political implications, i think it's a bit of a longshot to expect the taxpayer to come to BP's rescue, not least because, unless i am much mistaken, the gov't no longer holds a slice

Don't forget that 35% of the ownership of the Macondo well lies with other (US) parties. They will have to stump up their own share of the cash for the cleanup as well although we haven't heard much about that recently.

Someone needs to remind Obanana what happened to his ancestors and who gave them their freedom.