BP Shares.............

[Ding Dong !]

How low are they likely to go ?............. I bought a load yesterday but have already dropped again by 15p / 16p since I bought them. Prior to the disaster they were trading around 650p and now at 340p.

Long term I think I'll make a good profit, but short term not sure how they will pan out. Any traders out there with a view ?

 

[DerbyGull]

Interesting one this. I'm gonna hold out a bit longer before deciding whether to get on board or not.

 

[Gritt23]

All the time the news is that the leak is continuing then I expect teh share price to continue falling, because any calculations of the cost are continually being revised.

I would expect there to be a bounce when they announce that they have done something that has worked, and the leak is closed off.

 

[Easy 10]

The bottom will probably drop out of them when they are forced / sued into paying for the entire cleanup operation, plus the inevitable compensation claims that they'll get hammered with.

Long term though, they're probably a decent bet once all this has blown over.

What do you reckon Beach Hut ?

 

[Spanish Seagulls]

They will drop a little more but with their position in Brazil they will recover nicely. Brazil has some of the largest oil reserves ever discovered & along with Petrobas, BP are at the forefront. I would expect a recovery but not until it is sorted just how much they will have to pay out for the debacle that is going on at present. You'll have to sit on them for some time yet I imagine but they are currently good value I think & would buy now. I am not a professional though.

 

[Perry Milkins]

The bottom will probably drop out of them when they are forced / sued into paying for the entire cleanup operation, plus the inevitable compensation claims that they'll get hammered with.

Long term though, they're probably a decent bet once all this has blown over.

What do you reckon Beach Hut ?

I suspect that Beach Huts all over the Gulf Coast of Florida will be affected.

 

[Bozza]

Never try to catch a falling knife.

There will be plenty of folk nursing losses on stocks like Lloyds and RBoS because "surely they can't go any lower" but they did. And then some more. And then some more again. And, unfortunately, most of us run out of cash so can't keep averaging down our holding price as the stock tumbles.

I'm not saying you won't make money - you're well aware of the gamble you're taking. But with polls in the US showing that many think Obama has handled the oil spill poorly, he is only going to get tougher and tougher with BP, and their financial burden will grow and grow. How much 'oil clean up cost' is built into the current price?

 

[Uncle C]

How low are they likely to go ?............. I bought a load yesterday but have already dropped again by 15p / 16p since I bought them. Prior to the disaster they were trading around 650p and now at 340p.

Long term I think I'll make a good profit, but short term not sure how they will pan out. Any traders out there with a view ?

Strange way to do things, buy the shares then ask advice.

 

[Beach Hut]

The bottom will probably drop out of them when they are forced / sued into paying for the entire cleanup operation, plus the inevitable compensation claims that they'll get hammered with.

Long term though, they're probably a decent bet once all this has blown over.

What do you reckon Beach Hut ?

I think thinking is so important

 

[Ding Dong !]

Strange way to do things, buy the shares then ask advice.

Oh well, I like a gamble every now and again....just not usually £9,000

Not really asking advice, just views in the likely fluctuation.

 

[Stoo82]

Is there a way to see if anyone sold shares in BP just before this disaster happened?

 

[narly101]

currently suggesting that the costs to the environment and US businesses is aournd $9 billion. Long Legged Mack Daddy is gonna push for BP to own that cost, but with a 3rd party ensuring it is dealt with appropriately. The price is going to go a lot lower than 340p - would wait at least until after the meeting between BP Chairman and LLMD.

 

[brunswick]

all a ploy so they will be bought out by halliburton - if you cant see this coming you are very blind.

 

[BLOCK F]

Political football....impossible to value the company at present.

 

[Uncle C]

currently suggesting that the costs to the environment and US businesses is aournd $9 billion. Long Legged Mack Daddy is gonna push for BP to own that cost, but with a 3rd party ensuring it is dealt with appropriately. The price is going to go a lot lower than 340p - would wait at least until after the meeting between BP Chairman and LLMD.

From what I have read that is a gross underestimate - 9 billion may just pay for the eco clean up.

Add to this firstly compensation (American sue culture), then secondly the cost of refusal for subsequent drilling and you will get close to 25 billion.

BP has become a political football and will be kicked around to enhance Obama's credibility.

 

[BHAboi]

how do you buy shares in bp?

 

[Uncle C]

how do you buy shares in bp?

You write out a cheque, get the money from the bank, then tear it up and throw it in the dustbin. At least that saves you trading costs.

 

[Spanish Seagulls]

The thing is it was a US company that was actually carrying out the drilling, manned by Americans & leased from BP, is this not right? I like how it is British Petroleum when the shit hits the fan but BP otherwise to the Americans. Deflection.

 

[Bozza]

The thing is it was a US company that was actually carrying out the drilling, manned by Americans & leased from BP, is this not right? I like how it is British Petroleum when the shit hits the fan but BP otherwise to the Americans. Deflection.

The rig was leased TO BP not from them.

I'm not aware which company, BP or otherwise, the rig crew were working for directly.

 

[Ding Dong !]

The thing is it was a US company that was actually carrying out the drilling, manned by Americans & leased from BP, is this not right? I like how it is British Petroleum when the shit hits the fan but BP otherwise to the Americans. Deflection.

My sentiments exactly. Obama should shut the f*ck up and take some ownership that the Yanks are heavily involved in this disaster. As someone pointed out, it's the yanks that are the major gas guzzlers on this planet and their need for oil oil and more oil bounds no limits .