Member Info for Charlie156

Real momentum starting to build here. For all the talk about US shale, it is only a short term solution and will not address the impending supply issues which the chronic lack of investment since 2014 will cause. That date keeps on being pushed back but it's coming, oil demand is continuing to rise with insatiable Asian demand.

Nims & Picket. I feel like I'm eavesdropping on a private conversation. A tad self indulgent, don't you think?

Oil companies have all been reducing costs, so for BP to increase break even to $60 has spooked the market. Dividend is sacrosanct so BP will have to sell more assets in the short and medium term to cover it.

Not overly concerned by the fall in BP's share price since the results, which I put mainly down to macroeconomic events. They again stressed maintaining the dividend is their top priority. Their strategy to achieve this makes sense. Selling $3 bn of mature fields a year should cover any shortfall, bearing in mind that over the next 5 years 800,00 boe p/d of new projects that have been rigorously costed are coming on board. BP is in good shape.

Hearing that a lot these days, a lot more than when it was below £13, although it makes a lot more sense to sell at today's prices than those in January. With oil at $47 a barrel, that's a fair step from the $60 needed to pay a sustainable dividend. I've sold half my holding.

Sold 40% of holding at close. The market is still pricing in a dividend cut which is understandable. $50 oil means cash flow covers capex, you need $60 oil to pay a sustainable dividend. BP seemed to draw a line in the sand when they said the upper gearing level was 30%, I think it's circa 25 now. Interesting times.

Jan 20 Brent bottomed at $27.82 and BP closed at £3.28. May 17, oil is over $49 and BP closed at £3.66. Feels like there may be some value here.

Dudley shows again why he is worth every penny of his 14 million. BP is becoming increasingly lean and well positioned to take advantage of a higher future oil price. In the last 3 weeks there has been a decisive break north in the oil price as the hedge funds pour in and the market begins to focus on 2017 supply. The trend is your friend as they say, whatever bad news there has been in the last few weeks has been shrugged off. The dividend looks safe to me, and although I mistimed my entry point I have confidence in the future.

Insightful article by Ambrose Evans Pritchard in yesterday's Telegraph on the upcoming supply crunch. This is no time to be out of the oil sector.

Show some respect, it's Sheikh Alan. I'm sure if his fellow Middle East potentates had known he had a VERY SIGNIFICANT INVESTMENT here they would have agreed to the oil freeze.

Sheikh Alan has been droning on about the freeze for eons but it was a non story. If they had agreed a freeze I think the shares would have still ended up flat today. The market tends to look 6 months ahead when all the cancelled investments of the past 18 months will begin to crystallize. It's good to see contrasting opinions here, it makes for a far healthier forum.

Hopefully Sheikh Alan will have learned from this. Opec is not the colossus it once was which is healthy. I have confidence in markets calling the oil price. The oil glut is steadily reducing with buoyant Asian demand and especially China's decision to vastly increase its strategic reserve. In a years time I see oil between 60-70 dollars, with the increasingly efficient US shale oil industry keeping a lid on any oil spikes.

Having just seen Zoolander, I'm a bit more understanding of you posters on here who are not only ridiculously good looking, but funny and rich as well.

When it was above £12 the dividend was almost an irrelevance. Now investors are hanging their hat on it. Why are people positive about the future? Forget the products, this company has been mismanaged for 2 years. Not to worry though, their head of Investor relations Arsenal says this will be the last profits warning.

BG seems to be twice as volatile as BP, up or down. My purchase this mornin felt like a good move, if it goes sub8 again I hope I have the cojones to pile in.

Temporary aberration. BG's LNG business offers protection against oil price fall. This price offers long term capital growth, short term beats leaving it in the bank and in this climate is vulnerable to a bid.