Member Info for Chandley-1976

Ouch yeah, that will do it.

Regardless, we are still a cash printing factory.

A nice little correction is always healthy and sets up a strong base if you fall less than the correction.

Bit of a wild 2% dip off the heights for nothing at all, but maybe the US can pick us back up this evening.

420 is absolutely the big mark to stay over in these uncharted territories.

Can she hold over 420...... perhaps the USA can give us a push too, since BP is still 5% off their 52 week highs, as seen in the last spike up to 420 UK money, earlier in the year.

Precisely. PE ratio of 4. Tells it all. And the thing is, that isn't a one off. It will continue to be the case for another few quarters to come. BP is very cheap right now, and for me should be 500p, not 400p. It's a total mystery as to why we are not at peak prices, as per our US peers, with a more 'normal' ie properly valued share price relative to the PE, which is a main benchmark of any company.

BP will be bringing in so much cash over the next 12 months that its going to be impossible not to cause a massive re-rate at some stage, or to boost dividends despite Sharon down the road being up in arms about it, because it's easier to blame Boris than look in the mirror.

Sure, most of those profits will be put into buy backs and investments, and I don't see us getting back to those 8% dividends for some time. But those investments will prep us for a solid green future, as the world moves away from Russian energy. This is only the start of things in that area, and $100 oil/$8 gas will be the new norm for a while.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Seems to be the price for now..... lets see how the day pans out.

It’s worth noting that due to exchange rates, whilst we are only 1% off highs, the US share price is still about 5% off their high share price.

Could it be the USA and exchange rate which get it beyond that 420 resistance level eventually?

Pete, to be fair, there's a 3k early repayment fee, and with my term not due up until Aug 23 and currently only paying £150 in interest, it makes no sense to clear it until the term ends really, at which point Ill only need 3.75 to clear it due to overpaying the mortgage too.

I have 2 BP share pots, 1 an investing pot which Ill keep to whenever. And 2, the mortgage clearing pot. When we get to 450, Ill clear the mortgage off and put whatever else is left in the pot based on the balance due in Aug 23, into pot #1 and just hold.

It's funny what people feel comfortable sharing with strangers on a board eh.

More, this time it feels different, somehow. The markets know that $100 oil will be the norm now for some time. Q2, which we are already half way into, will be another stunner. For me, 400p needs to be the new 375. I'm sure it will fall back under 400p/5% at some stage, but Id hope will be the new rough baseline barring market slumps which we know are fabricated so that the big boys can make easy money.

Let the repetitive, mindless talk of BP indirectly giving benefits to people for their heating, pass by as they will do eventually, but with bills only rising going into Summer, I expect the anti oil company hate to last for some time. Nice to see Labour lobbying for Asda and Tesco to give handouts when their profits were flying mid pandemic. Even now.
Record profits, whilst people are supposedly starving. Same as tons of other sectors? But as soon as the big oil companies start to see a change in fortunes after 2 tough years, despite bug Russian write offs, its just hate and bitterness towards them.

That's quite simply because unlike your Amazon and Asda shops, energy is taken for granted totally as its non tangible and just a 'cost'. Its not seen as something which you should consider, or think about how it happens. You just turn the switch on or turn the key without thinking about how anything works, where the power comes from etc. So when you're dealing with stupid people, which most are sadly, its easy to then politically weaponise that mindset against the energy companies.

What do they give you? Nothing right?
They just take your money and put prices up for the same stuff.
And its things that are basic human rights too, like power and heating.
Its plain theft.
They have no right to make so much profit when you're struggling to heat your house or fuel your car.
Blah blah blah.

I know plenty of even intelligent people who until recently, confused a set cost for energy, as a set/capped cost per month full stop, not per unit of power. It's crazy. Without the energy companies, we all go back to the stone age. Absolutely nothing works. Not tech, not medicine, not legal, not accountancies, nothing at all.

People need to be more grateful for what they have, instead of moaning all the time. Especially when its people who take way more than they put back in, like most of the moaners.

450p - mortgage cleared :)

Clear resistance level, but we are pushing hard. Lets see how it goes once we make it to 423.....

Crikey.

I’d say that giving Russia 20% of a 100 billion dollar company for free, is even more ludicrous and immoral than making money off them.

Sure, sanctions will reduce the value of said asset to a fraction of what it was once worth, but I’m still hopeful that we can palm it off to Sinopec for $5b or so, yeah.

Let’s see if we can carry on to 420 tomorrow, or if we fall back 10p or so.

We will see.

But with Rosneft now behind us/priced in as a total loss, $100 oil being the new norm for another couple of quarters at least, the landscape looks a lot better than it did the last time we played with making 400 a baseline.

Once China’s zero Covid policy allows their major cities out of lockdown, with the general trading environment is looking incredibly rosy for energy firms for some time to come, for me the majority of the things holding us back are now passing.

Clearly how that’s come about is hugely unfortunate, but still.

John, it won’t happen and Starmer knows that, along with why. He probably owns a ton of oil shares himself.

It’s just political mud slinging and showing people that they care/are doing their all to get more money from the Tories.

Nonsense. BP already pay 10 figures in taxes per annum to the UK government.

That’s a lot of free schools, hospitals, and is the same in taxe as almost 3/4 of a million people on minimum wage pay in income tax a year (£1.5k)

Yet the rich and large corporates are evil and don’t pay their way eh Kier?

Still rising in America!

415.5.

Insane, but actually very fair. Biggest profits in 10 years and no sign of letting up all year.

Lovely.

Shame eh?

https://oilprice.com/Latest-Energy-News/World-News/Anonymous-Claims-Responsibility-For-Cyberattack-Against-Rosneft.html

Precisely Jez. They also know all of that as they ain't stupid really, but just use the narrative to play that good cop role and pander to the people who expect somebody else to give them a good life. Whilst the same lefties ironically whinge about unfair privilege when its re. other people who don't fit their box.

And so much for my prediction of it being a flat day today, ending on 385, due to the Rosneft deal messing things up for us. If we get even 5 billion for that 20% stake, with another 6 months+ at $100+ oil. we could be seeing 450 pretty soon.

Crikey.

It gets better in the media today. Its the day which keeps on giving;

Now Boris isn't doing enough to combat rising inflation, even though he should be giving away free money in the same breath....

https://www.thisismoney.co.uk/money/markets/article-10777947/Base-rate-hike-week-UK-factories-raise-prices-record-pace.html

Base rates set to rise from 0.75% to 1% this week. And all those people who got a mortgage and then maxed it out at pretty much 0% rates, because they could afford the loan amount at 0%, whilst borrowing the most they could get their hands on, along with the rented BMWs and all that.

Was never likely to rise from 0% though was it?

People........ maybe the education system is to blame?

He's changed his wording slightly now.....

So BP should be paying a windfall tax, on any 'unexpected' profit, on our 'North Sea assets'.

So, just our British North Sea profits, and only the unexpected profits, ie any profits over say $60pb. So about £75 million in taxes a quarter? Sounds reasonable really. Fine, give that to the struggling people. £2.50 per household, per quarter/80p a month off all our bills if you give it to everyone, or £15 a quarter/£3.50 a month if you give it to all the people who genuinely cant pay their own way regardless of how much they try. Clearly all knocked up numbers, but still. My point is that unexpected taxes on the profits of $30pb on just our North Sea assets, is relative peanuts in truth. All this £50 a month to everybody via windfall, is nonsense.

But the global fuel crisis is over boys! Starmer and Rayner to the rescue! The saviours of the people, whilst necking Cristal over the weekend to celebrate the win in their well heated homes, since they both have more than one. Zero Ukranian lodgers though.

Or you could sit on TV moaning about how hard up you are, enabling your interviewier to score political points, when half an hour earlier she's talked to a Ukrainian ambassador about how his country is doing right now. No heating? Try having no city, street or house or heat at all Susanna?

Millionnairess; Sell up and buy a semi decent place in Wigan for £125k love. You'll be able to afford to heat that and have a wad in the bank too. Get a Band D place and you'll sill get your £150 benefit, even though you're a millionaire. Maybe buy energy shares with it. Lets also ignore the fact that minimum wage just went up by 8% too. Evil Tories.

They all take with one hand and give with the other. The only difference is that one pretends to be good cop, and the other the bad one. Which ones the biggest liar though?

That's because the media are generally lefty virtue signallers. They'd rather focus on the profits alone, than balance the arguments out with mentions of our debts, 20 BILLION dollar write off, an the fact that we had 2 terrible years post pandemic. Us nasty shareholders are all evil far right dictators right? It fits the narrative, and that's all it is, and they know it. Liars to suit their own means.

This morning, Susanna Reid, a massive Champagne socialist and open Tory hater (because that's OK and not hateful isn't is, because it makes you a good person?) sat down in #10 with a senior Ukraine ambassador, and dint get the lefty answers which she craved, since countries who are truly hard up don't think that way;

Susanna - What do you think about Ukrainian nationals not being able to get UK visas without question?
Gentleman - We've been talking to the Home office about this.
Susanna - Ah, so you've insisted to Priti Patel that this isn't acceptable?
Minister - I wouldn't put it like that. The UK needs to control who comes into their country, and there's processes which need to be followed'

I wonder how many Ukrainians Susanna has taken into her 7 figure London home ? Moronic far left logic; moaning about other people whilst doing nothing, but moaning, themselves.

She then pushed Boris on the energy crisis, and asked how its fair. Life isn't fair, and this crisis was seen coming last year, hence energy caps rose, extra energy benefits were announced etc etc. And how many people will move their £150 onto their energy balance as soon as it lands? She then used an elderly lady in London as an example to Boris of somebody whos so poor that she cant afford to sit in her house/heat it, so uses her free bus pass to sit on the bus/stay warm all day. She's not able to get the £150 energy benefit, as she lives in a council tax band G house..... ie, her house is worth a fortune, just like Susanna's!!!

And idiots like Susanna wonder why Ukrainians are generally neither left or right wing, ie they are self sufficient hard working people who don't moan about issues which are not really issues, because they've seen real and genuine hardship for a very long time. People living in million quid houses and who apparently cant afford to pay the energy bill need to wake up.