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BP - BP PLC (NYSE) - Page 119

post #2361 of 2517
They are saying that they might not to drill anymore to stop this - the kill attempt might be all they need - very cool for us that got in when it was low

http://www.cnbc.com/id/38529210
post #2362 of 2517
sooooo glad I went to RIG today. That was the best move I've done! Straight up all day without the BP bounce!
post #2363 of 2517
BP longs will want to consider the impact of the revised (upward) spill amount estimates, and the resulting fine amounts that could ensue:

http://online.wsj.com/article/SB1000....html?mod=e2tw

Excerpt:


The scientists also calculated that 800,000 barrels of the 4.9 million barrels were dispensed with by siphoning and flaring by BP.

Under the Clean Water Act, BP might have to pay a fine of at least $1,100 per barrel of oil spilled. If the government determines that the spill was the result of gross negligence, the fine could spike to $4,300 per barrel of oil spilled.

Based on the new spill estimate, BP would face a fine of more than $4 billion on the low end.
post #2364 of 2517
Quote:
Originally Posted by rando View Post
BP longs will want to consider the impact of the revised (upward) spill amount estimates, and the resulting fine amounts that could ensue:

http://online.wsj.com/article/SB1000....html?mod=e2tw

Excerpt:


The scientists also calculated that 800,000 barrels of the 4.9 million barrels were dispensed with by siphoning and flaring by BP.

Under the Clean Water Act, BP might have to pay a fine of at least $1,100 per barrel of oil spilled. If the government determines that the spill was the result of gross negligence, the fine could spike to $4,300 per barrel of oil spilled.

Based on the new spill estimate, BP would face a fine of more than $4 billion on the low end.
It's already baked in the share price and BP has the cash to cover everything.
post #2365 of 2517
$39.96 HOD, once the well is permanently sealed this will go over $40 and stay there IMO.
post #2366 of 2517
BP Begins Kill Test on Gulf of Mexico Well
Published: Tuesday, 3 Aug 2010 | 2:48 PM ET Text Size
By: Reuters with AP

BP said it began a critical test at its blown-out Gulf of Mexico oil well on Tuesday afternoon in advance of a "static kill" intended to help permanently eradicate the leak.

The test will will gauge ability to pump heavy drilling mud and cement into the ruptured well. Based on its results, the static kill could start later on Tuesday, the company said in a statement.
post #2367 of 2517
Wednesday said its Macondo well in the Gulf of Mexico appears to have reached a "static condition" after the oil major stopped pumping heavy drilling fluid into it.

"The well pressure is now being controlled by the hydrostatic pressure of the drilling mud, which is the desired outcome of the static kill procedure carried out yesterday (Tuesday)," BP said in a statement.
post #2368 of 2517
$40.32 and rising baby! $$$$
post #2369 of 2517
BP up 55 cents. My Sept Calls for 50 bucks are looking gooooooood
post #2370 of 2517
boo hoo.... I spoke too soooooon
post #2371 of 2517
No worries, just a healthy mini-correction. It'll come back.

Could be one of the last chances for the late-comers to get in below $40 IMO.
post #2372 of 2517
That was a ballsy move - I would of gone to Oct calls - more of the hurricane season covered, good luck to you though, I hope it is 60 by Sept LOL

I use LEAPS - bought a bunch at 45 call due Jan 2012


Quote:
Originally Posted by Ewok View Post
BP up 55 cents. My Sept Calls for 50 bucks are looking gooooooood
post #2373 of 2517
fix the well and the stock dumps. makes perfect sense.

I guess next time there are profit earnings doubling the expected on a company, I should bail out.
post #2374 of 2517
What? Where's the dump? Volume is low but I don't see any dumping action.
post #2375 of 2517
CNN has a story that BP is offering it's distributors a 2 cent break per gallon on gas, good move
post #2376 of 2517
Quote:
Originally Posted by LEAPguy View Post
CNN has a story that BP is offering it's distributors a 2 cent break per gallon on gas, good move
they've been doing that for a while in FL....hasn't really stopped the picketing
post #2377 of 2517
this is too funny

BP partners won't pay cleanup costs
http://articles.moneycentral.msn.com..._blg=1,1789473
post #2378 of 2517
Come on BP lets see a good day tomorrow.
post #2379 of 2517
I am so short all over 40. My earlier predictions of BP b/k at 12.00 this month may see a little revising- only to postpone the timeline a little; hurricanes are active through December in warm seasons, this is an extremely warm season. But no revisions yet! It's early in the busiest month of our hurricane season!

I am still of the belief that one powerful storm will be a 'crude awakening' for investors trying to summarize cleanup costs. To be honest, I'll be quick to cover if the pps rises, (wouldn't be surprised as BP and the White House want the sheeple to think this is over) and quick to short even higher still.
post #2380 of 2517
Quote:
Originally Posted by teamrider View Post
I am so short all over 40. My earlier predictions of BP b/k at 12.00 this month may see a little revising- only to postpone the timeline a little; hurricanes are active through December in warm seasons, this is an extremely warm season. But no revisions yet! It's early in the busiest month of our hurricane season!

I am still of the belief that one powerful storm will be a 'crude awakening' for investors trying to summarize cleanup costs. To be honest, I'll be quick to cover if the pps rises, (wouldn't be surprised as BP and the White House want the sheeple to think this is over) and quick to short even higher still.

There's no more oil; it all evaporated (most was light) Pour gasoline in a churning hot gulf then try to find it after wards
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