Member Info for MarkGo

Cong

Respect and thanks to you. Good luck with your investments.

Have a great weekend.

Mojo

Just read your follow up, thanks. That makes so much sense and sums up where I feel we are and the nearly insurmountable rocky road ahead for this old dinosaur fossil company but still keeping a small investment 'bet' just in case

Here's to wiser investment choices ahead.

Mojo and updownflat

Two well appreciated responses. Thank you.

I honestly hope you guys crack this game and make a fortune out of whatever your strategy and wherever you are investing.

In truth, I recognise that I am an fairly amateur at this game, although I sense that even if I were more experienced it seems it would mean nothing in this near dangerous casino type equity climate. A new normal maybe with corrections threatening.

Equity dealing was something I played around with until January 2021 when my property and other investments matured and with £kkkks a month, capital and interest repayments to find a home for, well here I am.

In regard to BP and other super majors, institutional and market negative sentiment, probable equity corrections, legislation, probable governmental, corporate and class legal action is going to disable and destroy this company.

Time to reevaluate as you say.

Spighty. Pipped at the post. You must be gutted. I had everything crossed at 16.25 !!!

Anyway, the one thing you are a winner at is optimism.

Have a fantastic weekend and good luck next week mate.

MarkGo

Mojo7865

Hi mate, really good to see you back posting again. As I believe the unfair, unwarranted nonsense you faced, prior to your break, should have no place on this forum.

In my opinion, your posts are always welcome, balanced, fair and informative and you should be free to post without having to follow up your posts with responses to the either envious, unfair, immature or plain rude amongst us. Oh that reminds me, Hi Enzo !!

Along the lines or your suggestion, I have actually started reducing my holding in BP. I will still hold an amount but will reduce at appropriate opportune times. That is not to say that long term BP could be a fantastic recovery play but its the word 'long' that concerns me. I am no longer happy to hold so much in one company and just wait and hope with so many negative headwinds.

BP's business strategy is based on $60pb. I believe the clock is ticking on this. High poo now could be low poo and over supply by late 2022. Sub $60 could mean reduced investment in the transition, buybacks and maybe the dividend. The possibility of half in, half out transition, lower poo, business plan changes. Who knows.

Anyway great weekend Mojo and all

MarkGo

Underperformance of this dog of a share. Oil $73 and this is a cripple of a share. Hated by so many for so many reasons.

This is starting to look like an old fashion value trap.

Rank over and apologies but BP stinks at present

$73.5 is back Folks!! and what ??

..BP's inability to break 300p and hold with Brent at that level.

Ah well, I guess there is always the next quarter results to look forward to. Maybe that will be the catalyst for the share price to dribble upwards, or the next one, or the next one.......

You're on point as always NSS. Thanks

Android101, meoryou

Great posts. Thanks

Hi mate

I guess this is a fluid situation that will take days or a few weeks to access. Probably assisting the poo spike but it is not as if hurricanes do not happen annually in the GofM.

Oil prices surged in 2005 after Katrina but 16 years of experience later I do not hear the same level of damage with Ida. Probably modest in comparison.

Reuters on Ida...

Hurricane Ida knocked out at least 94% of the offshore Gulf of Mexico oil and gas production and caused "catastrophic" damage to Louisiana's grid.

The loss of power could last three weeks, utilities officials said, slowing efforts to repair and restart energy facilities, which could also take at least two weeks to fully resume operations. read more

Power outages from a hurricane last year left oil processing plants in Lake Charles, Louisiana, idled for up to five weeks and cost owners millions of dollars in lost production.

An interesting read on Blue Hydrogen investment.

My opinion. Good luck to the Oil companies. If western governments want a green energy future then let them (taxpayers) pay as much towards it as the Oil companies can get. By hook or by crook !!

https://oilprice.com/Energy/Energy-General/Exposing-The-Blue-Hydrogen-Lie.html

TinkerT

You are welcome mate. I only found this out as a result of wondering if there are any regulatory reasons for the 5m approx each day.

Hopefully they can fill their boots while at this depressing level.

Have a great day mate. MarkGo

Android101

Hi mate, very nicely worded response. Absolutely makes sense. I also intending holding for the long journey ever with my reservations.

Its good to read others views.

Have a great day buddy

MarkGo

Hi TinkerT

I believe they are limited to the purchase of 25% of the average daily volume. I stand to be corrected on that if wrong. So as volume increases so should the amount.

I would have thought that volume will increase now the summer holiday period is coming to an end.

Android101

Sums up the dilemma nicely. A possible correction, transition from qrowth to value, fomo in a rerating etc. No one knows.

I do not see what can lift the SP for the foreseeable but I do see possible trouble ahead. Oil price may assist but its an untrustworthy relationship. Oil goes up, BP struggles to respond, oil goes down and a certain, instant response downwards.

Its seems each minor recovery in the share price is less than the previous one. The skimming stones analogy.

Q2 results were good, Q3 should be the same but I do not see why sentiment towards oils and BP specifically should change. Too many negatives

Does anyone feel positive on BP and if so I would like to read why ?

A fool's view...

https://www.fool.co.uk/investing/2021/09/01/should-i-buy-sell-or-hold-bp-shares/

Well at least the cloud around the lacklustre, flatlining SP has a silverish lining.. 4.6m buybacks @ average 298.

I do wonder what, if anything, will be the catalyst for the share price to progress. Could it be that BP is just a value trap and never will.?

We all believe that this is a bargain and undervalued relative to other companies based partly on outdated, historic norms and on p/e ratios etc.

I am starting to wonder if the SP will languish at these levels ( low 300s) for years to come, or worse, drop further once any short term oil demand and oil price spike is over in around 12 months or so maybe.

Android101

Hi mate, excuse my ignorance but could you elaborate please.

There may be an obviously business reason or strategic timing for the buyback of shares but I am curious to know what it is?

Why would they buy 5m at an average of 308 on 12th Aug but none on various days when the SP has been in the 290's ?

New month same groundhog day for the SP. Let us hope that now the Opec+ meeting is over with no surprises we can move back into the 300s. Personally, I doubt it has the momentum to move out of the low 300s for at least another quarter or so.

No change

https://oilprice.com/Energy/Crude-Oil/OPEC-Ignores-Biden-Keeps-Output-Plans-Unchanged.html