BG. Gas prices over 14% up recently with more to come - global LNG expanding and further exploration rights --- about to break out.

http://www.moneyam.com/action/news/showArticle?id=989336

dikytree.

yes required field.....main oil producers seem to be getting attacked whether its tullow, pmo etc....all are doing well so suppose market just bashing it as they been doing too well.

probaly after summer, this will all change again and sp will go up for all these companies

LONDON (Thomson Financial) - "Shares in Galp and BG Group are expected to go higher in opening deals after news that a second well has been confirmed in the the Santos Basin next to the much celebrated Tupi well in a block offshore Brazil.

London based traders said BG is expected to go 40 pence higher on the news.

Lisbon brokers said the news is 'obviously very positive' for the pair, which owns a 10 percent and 25 percent stake in the block respectively."

Another fantastic result....(after this I think BG. should move down to the Falklands.....they are on a run here !), I could curse the pullback in the oil price....I must be one of the few that wants it to rise !.

Another discovery....this stock should be way higher !.

It's a huge company with %age stakes in lots of fields, so any discovery is absorbed in to the whole picture, unlike the little AIM explorers who only have a couple of drilling programs at any one time.
Oil price is also weakening a little against a stronger $.
A good stock though, imo, with good income & scope for capital growth. Worth holding on to.

Yes Harrycat....large company....but they keep on making great discoveries....the market at the moment for oil companies is not that good....I have not put a trade through for ages now.....need some profits from existing positions.

BG....recoiled spring possibly ?.

Rumours of an interest from Exxon Mobil.

I'm now in, BG is based only four miles away from where I live and over the last year or so I've had the good fortune to meet many of their staff from all over the world . I've driven some of their top guys around and can also say what a fantastic company this is, they really look after their employees. Investors Chronicle is also a big fan of BG , and the fact that their top execs have been buying shares recently must be a good sign .I'm not really an expert in the oil and gas exploration field but find it a fascinating one !

When was the last time we had BG. down 10% in a day.

Unheard of I'd thought. This is either a bottoming clear-out or the SM is on the point of collapse.

Next few days will tell us.

Sit tight, imo. Possibly worth a top up near the 800p level. (currently 873p)

Results Highlights.

Highlights
* Record earnings per share up 74% to 91.6p for the full year
* Cash generated by operations up 70% to GBP6 274 million for the full year
* Full year dividend increased by 20% to 11.23p
* 2P reserves increased by 64%; total reserves and resource base increased by 31%
to 13.1 billion boe
* LNG total operating profit up 204% to GBP1 585 million for the full year
* Queensland Gas Company resource base increased from 7 tcf to 11 tcf

BG Group's Chief Executive, Frank Chapman said:
"BG Group has delivered record results this year with strong performances in E&P
and LNG. Major reserves and resources additions were achieved, with 2P reserves
up 64%. There was transformational strategic progress in Australia and Brazil;
two ventures that will support BG Group's growth over the next two decades."

Business Financial Newswire
"BG Group has agreed an alliance with oil and gas explorer and producer EXCO Resources to develop US shale gas.

BG Group has acquired a 50% interest in 120,000 net acres in east Texas and north Louisiana.

Of these, 84 000 net acres cover the Haynesville shale gas formation, a substantial proportion of which lies within the prolific Harrison County, Texas and DeSoto and Caddo Parishes, Louisiana.

EXCO has completed eight horizontal wells in DeSoto Parish with an average initial production rate in excess of 23 million standard cubic feet per day (mmscfd).

A consideration of US$1,055m equates to approximately US$0.40 per thousand standard cubic feet (mscf).

This comprises US$655m on completion plus US$400m to be paid as a carry of 75% of EXCO's future costs to develop the Haynesville shale gas.

BG has also agreed to negotiate to acquire a 50% interest in related and complementary EXCO gas-gathering and transportation assets for US$249m. "

Half yearly report

BG Group completes acquisition of interest in US shale gas alliance

"BG Group has announced the closing of the upstream and midstream acquisitions as part of the previously announced alliance with EXCO Resources Inc. (NYSE:XCO).

After closing adjustments to make the economic effective date of the upstream acquisition and joint development operations 1 January 2009, consideration for the upstream portion of the alliance is US$1 127.0m. This consists of US$727.0m plus US$400m to be paid as a carry of 75% of EXCO's future costs to develop the Haynesville shale gas. Following similar closing adjustments, the consideration paid for the midstream portion of the alliance is US$269.2m.

Under the terms of the alliance, BG Group has:
Acquired 50% interest in 120 000 net acres in EXCO's upstream leases in a defined area of East Texas and North Louisiana, which encompasses the Haynesville shale, the prospective Bossier shale and the Cotton Valley tight gas sands formations;

Added 2.6 trillion standard cubic feet (tcf) to BG Group's net potential resources, with current net production of 90 million standard cubic feet per day (mmscfd), anticipated to increase to some 250 mmscfd in 2012, net to BG Group;

Acquired a 50% interest in a newly formed company that will hold related and complementary EXCO gas-gathering and transportation assets and entered into agreements to support the joint development and growth of these assets; and

Entered into a joint development agreement with EXCO to co-operate in the development and production of onshore shale and tight gas resources across 14 counties and parishes in East Texas and North Louisiana.

Both the midstream and upstream transaction were granted regulatory approval by the Federal Trade Commission on 17 July. "

To me this is looking undervalued when compared to others...good production and a massive discovery in Brazil which will be coming online in a couple of years...I would have put a 13 or 14 pound tag on this...and yet, just will not climb....

what's in it for shareholders the dividend is pathetic compared to BP and Shell, only hope is a bid, pricey compared to other majors.

The dividend is not good but I bet they will increase it soon....but the production and profits to come are going to increase by a lot.

rf lets hope so but as will those of BP and Shell.

"BG Group today announced the completion of an exchange of equity interests in certain North Sea production assets with subsidiaries of BP plc (LSE: BP.L).

With effect from midnight 31 August, 2009, BG Group acquired BP's entire equity in the Everest, Lomond and Armada fields and part of BP's equity in the Erskine field, operated by Chevron (NYSE: CVX). In return, BG Group transferred all of its equity interests in all fields in the Southern North Sea to BP.

BG Group also became operator of the Everest and Lomond fields, with effect from midnight 31 August, 2009. It will continue to operate the Armada field.

BG Group's Executive Vice President and Managing Director, Europe and Central Asia, Mark Carne said: 'BG Group believes that significant potential remains in the UK Continental Shelf. While it is a mature basin, it is still a highly promising area and we remain one of the most active players. This agreement demonstrates our commitment to the UKCS. It consolidates and strengthens our UK interests in this region and will allow the production efficiency of mature fields to be increased and smaller fields to be developed more economically."