Member Info for meoryou

Same now applies to our capital gains you can make a very small profit but don’t make any more of we want an ever increasing share of it

Strong dollar
Just in time for div exchange rate conversion
Sterling cash dividend per ordinary share announcement date 14 March 2023

Think US market feeling like it’s time to book some profit.
We are still only back to start of year for DOW.
And BP happily still 12% up on year.
Think for a wee while narrative has changed from
maybe it’s not as bad as we thought.
To
Maybe it might be worse than we hoped.
The doom and gloom needs to be aired so we can actually get to looking back and saying
It was much much better than our worse thoughts

I would note that posters who say BP over paid for this and other assets we have bought recently ( and only time will tell if they are right). Expect a similar premium if BP were to be taken over by Exxon.
Many assets are currently poorly valued by the market.
It’s not even just oil ,this is apparent in many asset classes.
Someone out there with lots of cash has a lot of opportunities to pick from.
The market currently does not value anywhere near the break up value of assets.

https://www.cstoredive.com/news/bp-creates-mobility-site-of-the-future-with-ta-acquisition/643168/

https://oilprice.com/Energy/Crude-Oil/Biden-Thinks-Oil-Will-Be-Around-For-A-DecadeItll-Be-Much-Longer.html

Morning all
Not the best of starts today
Maybe the buy backs person is running late today

BP p.l.c. (the "Company") announces that on 20 February 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 9,147,814 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the share buyback programmes announced on 7 February 2023 (the "Programmes") and as detailed below:
Highest price paid per Share (pence): 562.20
Lowest price paid per Share (pence): 556.10
Volume weighted average price paid per Share (pence): 559.8758

Hi Baz.
Hope the house move went well.
Just suddenly realised we had not had one of your posts for a while.
Was glad to see you still posting.
All the best

It was Bigbadbaz I was missing, but I checked and he has posted on another board within the last week.
Quite a few of the regulars have been very quiet recently

Morning all.
Damp and dreary Monday
Dreary news too.
But BP sp once again happy to be above £5.60
Take over stories may have been a one week wonder,remains to be seen if anymore comes from them.
Onward and upwards, next target £6

Hi Happy
If you were the CEO of Exxon,
I would be both worried and excited.
Not sure where things will go from here,but you would expect some sort of pop from all this continued talk.
I would still prefer a British Super Dupper Major with BP and Shell, but would except that an American tie up has a financial logic.
But it would be nice to have one British Mega Champion.

Hi Jakers
Couple of great posts.
Bernard was damned if he did and damned if he didn’t.
We want bold leaders.
We want lucky leaders.
We want our leaders to be always right.
That’s the part he has not got 100% , but people do forget where we were when those bold decisions were made.
Negative oil prices ,negative profits ( or normally known as losses).
Reports of end of oil as we know it.
Renewables to be the new tomorrow.
Then came Russia.
Considering oil price is nearer normal levels than ultra high.
Profits are through the roof.
So either they are doing something very right,or they are being very lucky.
The div cut I am convinced was tactical to allow the buybacks at a very low level.
I am very comfortable owning BP and have zero worries on sp going forward if we never have a takeover.

Great post grandadtom.
Renewables should always only be looked at if they make real money.
We are after a business whose purpose is to make money.
Not a charity,or responsible for the whole worlds climate.
Although going forward I would like us to do minimal harm to the environment

So far the take over talk is just that.
It appears to only be happening because it is so obvious that BP is worth a lot more than it is being valued at.
If the market really thought it would happen BP sp would rise to show this.
You could say that is what happened since results day.
Although my take would be BP new update on strategy is why BP was revalued.
BP numbers going forward are more than just very encouraging.
I always thought I would take some off the table when BP was solidly over £5 as I am too overweight in BP ,but the number going forward really make £6 something look very very possible.
So I am holding all till £6( probably £6.50), when BP could be two thirds of my portfolio.Then will start selling slices ( although new capital gains allowances makes that harder).
If the takeover actually happens then will see where things go.
Government answer may be to encourage BP and Shell to merge.
That would still be my preferred answer.
Have been through about 7 takeovers and none of them was preceded by all this speculation,they all appeared from nowhere.
Exxon would have got a bargain last year ,so why not then?

BP p.l.c. (the "Company") announces that on 17 February 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 9,038,392 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the share buyback programmes announced on 7 February 2023 (the "Programmes") and as detailed below:
Highest price paid per Share (pence): 564.10
Lowest price paid per Share (pence): 556.30
Volume weighted average price paid per Share (pence): 559.9523

Morning Spights and all
Another Friday already.
US jet fuel market tight with prices nearly double 2019.
Oil down a little.
It’s still easy to be positive about BP.
Even if takeover doesn’t happen.
Think the window of opportunity for a takeover is getting tighter every day, as BP gets more profitable

Happy
I have wondered a few times where we would be if Bob had stayed a little longer.
I felt he left as he felt the future might just be greening and so felt it was correct time.
But no one can really tell.

Happy
As far as Looney goes I am still wanting him to be right ( not quite the same as believe he is right)
They tried to be radical and get first movers benefits.
It’s obvious now the new world that many thought would come after covid looks very like the old one ( perhaps the Russian Ukraine thing is different,but maybe it also if really just more of the same)
Some of the green stuff makes sense,some is still awaiting more info,some might be a large mistake.
As I said a couple of days ago they dipped their toes in a lot of ponds to see which made money.They knew some would be wrong.
Dropping div allowed cheap buybacks so May have been tactical.
Some of the asset sales may have been too cheap
Some of the buys definitely cary a green premium that if it carried over into BP green assets would move sp much higher.
But green within an oil company does not carry much value at present.
The future will be green it’s just when it appears.
I expect oil to be around at least past 2050
Keep on posting what you believe Happy,that why we all read them

I see this as BP buying lots of 25 plus acre sites.
Why buy large sites.
Possibly 3 reasons
1) size to install all the extra chargers they just said they would do in US.
2) futures space to grow the convenience offer. Bigger stores and especially cafe for people to spend their cash while waiting on a car charge.
3) space to install Hydrogen if it takes off.
They do keep saying convenience is one of the BIG drivers of future growth
I suspect they do really understand this market after the Thortons purchase,and can see real synergy and growth
Just my opinion