Member Info for Harmonica

Yes!

400p not out!

There is no sign, Invstrat, that BP is struggling with its balance sheer debt capital, as evidenced by continued dividend payments, share buybacks and investments in new projects. When the shares in treasury are no longer needed, they will be cancelled. Perhaps they are being held in anticipation of satisfying employee share option schemes.

Itvstrat,

It is dangerous to assume, as it makes an ASS of U and ME.

No idea. Why do you ask?

*American

Seems to coincide with the US markets opening! Our Amerocan cousins doing us a favour or they know, or suspect, something we do not...

Tedmark,

Simon Henry has been appointed to the non-executive directors, so is there for advice and to question and NOT to drive! That is for the executive directors!

*raised, not "raises"

Instarat,

Debt was paid down previously to some extent.

But to pay it down further, one has to ask whether it is worth it? Some or all of the debt pile could have been raises when loans were historically cheap. Put another way, the debt interest may be below the current cost of capital (ie what it would cost to borrow in the markets now) so it would be business insanity to pay off debt that is cheap! The cash to pay it off would come from where, pray tell? From reduced dividend payouts? From lower share buybacks? Both these latter two would affect the share price negatively if reduced. Alternatively, BP would have less liquidity to invest in possibly better paying projects, like Libya (see headlines). Or are you suggesting a eights issue of shares to raise new capital to pay off the old, diluting our holding?

Bearded dragon.

Every three months.

No Ted, I should be insane to sell my holding to crystallise a big loss. If there is no premium, it is not worth doing. It is not as if BP is close to bankruptcy!

It does not matter if the buyer is better run, as I should not expect to be a shareholder if offered cash.

A nil premium offer would never be voted for by the sahreholders.

I guess that the fear is that were management to cut staff numbers and there was another disaster like Deep Water Horizon, questions would be asked if cutting headcount contributed to the disaster?

In what way "irresponsible" pray tell, Armani?

The shares are traded on a recognised stock exchange! All you have to do is to accept the price of sale!

How did you acquire the shares? From the Stock Market via a broker? In other words, the shares are for sale (and for purchase) when the markets are open.

Armani,

YOU were the one making the false claim that BP was not for sale! When the rekevant stock markets are open, the shares are for sale! What you were probably trying to refer to is that BP may ge subjected to a takeover, potentially.

As for calling me "trash", when somebody lowers themselves to an ad hominem attack, you jnownthat they either have no decent argument or they have no argument at all.

As for the rights issue, I NEVER suggested that BP ought to do one but that that is another way to raise money other than by issuing debt, and that given a choice shareholders probably would prefer a debt issue than finding their shareholding diluted.

Armani, of course BP is for sale! How would the good folk here have bought into the company if it were not up for sale?

"monopolies and mergers commission"!

Showing your age there!

I believe it is The Competition Commission now.

Why would you HAVE thought that 1.Armani?

Russ1983,

Given that there are supposedly direct negotiations, Shell directors will know from BP directors what they will accept as a minimum. But if too low, it will struggle to get through and will only encourage counteroffers. I wonder if ARAMCO will be interested?