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Er meant 890 not 790, which I got today!
At this price still good for the ISA and Pen Pot.
and back in... this seems too easy. lol
Sold a few this morning around 917/920 Lokking for an entry around 790 to buy those back plus chuck the profit in
happy to sell a big chunk around 9.60. .... but there is so much dependent on wider market movements, ftse might get altitude sickness, PoO still PoS, general election looms ..
Guess the bounce at just over £8 was the bounce then. Should this run to about £10? as the bounce was higher than £7.80 this time? or is this wishful thinking? LOL
Last year, BG's production profile was improving on the back of the ramp-up under way at its interests in Brazil's Santos Basin. The group has invested over $8bn over the past 20 years in five major pre-salt discoveries in the Santos Basin and 10 blocks in the Barreirinhas Basin. Now, however, it is possible that four offshore oilfield projects in the region will be delayed because of a widening corruption probe into Brazil's state-run oil company Petrobras. The issue looks like it will affect delivery of floating production/storage platforms (FPSOs), thereby delaying a planned increase in output capacity by 600,000 barrels a day (bopd) in the BM-S-11 block south of Rio de Janeiro that was purchased by Petrobras, Portugal's Galp and BG in 2000. It is still far from cut and dried, but broker Jefferies has just cut its 2016 production estimate for BG by 3 per cent and reduced 2016 and 2017 EPS forecasts by 6 to 7 per cent. The broker's discounted cash-flow valuation has also been cut from 1,215p to 1,150p. In the scheme of things, though, the damage does not look too great and the potential plus point, according to Jefferies, is that "a pragmatic solution likely involves greater use of international contractors which could occur at more competitive costs". There was better news from BG's operations in Egypt, which have proved to be something of a millstone in recent years. It has been revealed that the energy group has signed a $4bn provisional agreement with two Egyptian state-owned gas companies to supply gas from its West Delta Deep Marine concession. The deal comes on the back of an earlier agreement signed by BG with BP Egypt and RWE Dea to process and transport gas from the two companies' offshore fields in the Nile Delta. At the beginning of last year, BG issued Force Majeure notices under its LNG agreements in Egypt after local authorities had diverted gas to the domestic market, as the country found itself energy-starved in the midst of civil turmoil. As part of the new deal, the Egyptian government is to pay back around $900m it owes BG and enter talks to agree a better price for gas on the domestic market. Share tip summary Midway through last year, the IC was negative on BG, but envisaged outperformance to peers over the long run. The group's market valuation is down by a third since then, and we now feel that a value buying opportunity has opened up with the shares' enterprise-value-to-operating-profit multiple compared with peers at a 16 per cent discount to the historic average. There's no doubt that BG remains a mixed bag, but it is now more sinned against, than sinning. With the potential for the group to benefit from any improvement in the oil price as well as its own ramp-up in production, we rate the shares a buy. Last IC view: Hold, 926p, 4 Feb 2015.
Thu 19 March 2015 A A A Recommendation type: Value Mark Robinson With oil and gas markets in turmoil, the one question on investors' minds is when is it safe to get back in the water? For junior exploration plays most investors will probably want to stay on terra firma for the time being, but it is looking increasingly worth exploring whether the ongoing slump in oil prices means there's now value on offer at the larger end of the corporate spectrum. We think BG (BG.) provides a case in point: the stock is a good potential value play, where macro-pricing anxieties and some hitches with its Brazilian operations have depressed investor sentiment, and have arguably diverted attention from operational performance. What's more, a recovery in the oil price has the potential to provide a double whammy for investors by coinciding with the expected ramp up in high-margin production from the group's large projects in Australia and Brazil. Admittedly, BG was trading near its five-year low point even before the supply surplus in world crude markets became fully apparent due to a succession of one-off factors that have weighed on the share price since midway through 2012. Nevertheless, BG re-established operational momentum in the latter part of last year, but progress on the ground has been overshadowed by reduced oil price assumptions. The group subsequently revealed negative earnings for 2014 on the back of an $8.9bn (£5.9bn) pre-tax impairment, while positive developments at the group's Queensland Curtis LNG complex failed to ignite investor interest. There has been no shortage of activity down under. At the tail-end of 2014, BG loaded the first seaborne cargo from its giant Queensland Curtis LNG (QCLNG) complex in Australia. The project will expand with the start-up of the second train in the third quarter of this year, ahead of plateau production in 2016, estimated at around 8m tonnes of LNG a year. As exports from QCLNG were kicking off, the group agreed to sell its interest in a 540 kilometre gas pipeline to Australia's APA Group for $5bn (£3.3bn), netting a post-tax profit of $2.7bn. The group had previously announced that it has entered into a $460m sale and leaseback agreement with GasLog Ltd for two tri-fuel diesel electric LNG carriers. The deals were part of an ongoing rationalisation programme primarily designed to reduce capital commitments and net debt.
Liquefied natural gas is likely to be the next energy source that will see prices fall in the way oil has Thought you had seen the last of the huge price movements in the energy markets? Well, think again. The supply glut which has led to a 50pc slide in oil prices over the past year will begin to grip the other major hydrocarbon product vital to global economies, liquefied natural gas (LNG). This year will see a “wave” of new LNG production flooding on to international markets as several major projects in Australia finally come on stream after years of development and hundreds of billions of pounds invested.
18 March 2015 BG Group produces first oil from the Knarr field in Norway BG Group (LSE: BG.L), a world leader in exploration and LNG, today announced the Petrojarl Knarr floating production, storage and offloading (FPSO) vessel had started production from the Knarr oil field in the North Sea, offshore Norway. The FPSO has been leased from Teekay Corporation (NYSE: TK) and is moored approximately 120 kilometres off the Norwegian coast. It has a production capacity of 63 000 barrels of oil equivalent per day and a storage capacity of 800 000 barrels. The Knarr field, discovered in 2008, has estimated gross recoverable reserves of around 80 million barrels of oil equivalent with a production life of at least ten years. In 2011 the Knarr field was merged with the Knarr West field into an integrated development. New exploration drilling in the licence area is ongoing, in order to help extend the production life further. BG Group is the operator of the field with a 45% working interest. Partners include Idemitsu Petroleum Norge (25%), Wintershall Norge (20%) and DEA Norge AS (10%).
SHARM EL SHEIKH, Egypt, March 14 (Reuters) - British energy company BG will invest $4 billion in Egypt over the next two years, the company's chief operating officer said on Saturday. Sami Iskander said the firm would sign an agreement with the government on Sunday, the final day of a weekend investment conference where Egypt is hoping to attract billions of dollars, especially in the energy sector. (Reporting By Stephen Kalin).
Hi, I'm not currently invested in here but im considering investing a couple of k. What's your views on a good buy in price and your views for the medium to long term?
BG is starting to get priced like afren, hollow lol. if we fall much below 800p, surely gotta be worth an additional punt as becoming potential t/o target? new guy is gonna have to start earning his money, eh. gl.
Bought at 9 and 850 Got one more lot to chuck in but drop today seems quite severe so will wait till next week to see if we get a dip sub 8
a mere soupçon, but unconvinced bottom yet in sight.
All eyes on oil. :-). Great buying op IMHO. GLA DYOR
According to bar chart if close below 823 next support 808 If that goes, looking to 780 - year low
crude prices will drive this one way or the other. Failing any entropic doom style news.
If it carries on following today's trend it should close between 860 & 870
Quite a few decent buys last night Bounced around 841 yesterday and 840 today LP 859 Can any charter tell me the top of this move if it continues - poss just over 10?
BG for me is a medium to long term investment with plenty in the pipeline which should start to come in as oil prices start rising again in 18-24 months time. Could dip in the short term and 800 would be a take again for me but any lower and it will become a takeover target IMHO. Good luck all.
815 Might see it today
I've been waiting for BG to tank it again, I missed it last time round. This share will go back to 1050 in a short time IMHO. Good time to get in or wait a while for 800p
Topped up 848 early doors Got one more stab should we go sub £8
IMO if supply is above demand oil prices will be under pressure ,the thing in oils favor is it get used so the balance can change.