When will it be time to pile into BP shares?

[minestrone]

I have a penchant for buying BP shares at around about £6 a pop, so I'm going to wait a bit longer.

I got 2 grand worth of RBS at 6 quid, so you are not doing too bad.

[minestrone]

Any chance BP will go bust here? Maybe not such a cash cow.

BP will not go bust.

They are set to take a hammering like the airlines did after 9/11 but they will come back in the next 1 to 2 years.

I suspect this is going to go to the courts and the CEO was told to say nothing on the knowledge of this, BP will be thinking they can offload this.

[scooterscot]

When will it be time to pile into BP shares?.

When they start going back up....

[scooterscot]

From one of my linkedin groups...

Is the gulf oil spill as bad as the Union Carbide, Bhopal Disaster in India and is the the recent lambasting of BP by the Americans a case of the pot calling the kettle black?
6 days ago
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2 comments

Follow Mark
Mark • This is exactly the conversation I had with my wife, who is Indian! There was no clean-up operation after Bhopal where the contamination remains a threat to the population. 10,000 died and are still dying with a range of birth defects prolonging the suffering into at least the next generation.
Obama will live to regret his remarks about BP as people begin to question America's far from blameless record around the globe, however, if Tony Hayward carries on Sailing, he might get away with it!
4 days ago

Follow Peter
Peter • Has anyone written to Obama to explain this to him?
There are plenty of other examples of "foreign" companies behaving badly after an incident - especially in former colonies. The UK and USA are not alone. But are lessons learned and has corporate behaviour (and responsibility) improved over the last 26 years? I believe it has and companies are now less likely to lead with their lawyers and more likely to respond humanely with managers and Engineers doing what they can to mitigate the effects and prevent a recurrence. Aside from decisions leading up to 20th April (which we do not know the full story of) BP Engineers have moved rapidly and with some ingenuity to try to stem the flow, even though initial efforts were not successful. This begs the question as to whether the regulators will require containment to be available before driling starts as a further back-up in case multiple barriers fail again in the future.
3 days ago

[Sysman]

From one of my linkedin groups...

Is the gulf oil spill as bad as the Union Carbide, Bhopal Disaster in India and is the the recent lambasting of BP by the Americans a case of the pot calling the kettle black?

No one insurance company will take on the total liability for something like an oil rig, and a lot goes through reinsurance, just like high street bookies laying off large bet liabilities.

This one will be rattling around insurance companies for years to come.

[minestrone]

I am sure Three Mile Island will come into this.

If BP can prove they did nothing wrong then they will not be liable.

[Sysman]

I am sure Three Mile Island will come into this.

If BP can prove they did nothing wrong then they will not be liable.

Just seen this on t'interwebs

All BP's money, and all the President's men,
Cannot put the Gulf of Mexico together again.

[suityou01]

They may not go bust, but they may need to do a rights issue to ensure they have cash flow. There credit rating has also been hit.

Too early to say, but this is definitely going to go lower.

250?

[TimberWolf]

BP could always sell this.

[minestrone]

250?

It will continue to drop until the well is capped and Buba Gump can get back to farming shrimp.

If anyone is serious about buying shares they should have the button ready the minute that thing stops leaking oil.

I also think BP have a strong legal argument up their sleeve for when it is stopped, they are pulling their punches and that to me says this will go to the courts. The US stated the safety standards and I think the met them. IT is going to get nasty and I do think BP will win.