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BP p.l.c. Message Board

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  • norris_3845 norris_3845 Jun 26, 2007 9:43 AM Flag

    Bought BP today

    I do agree with you. BP has run up the least upon really bad management performance. However, the good thing about poor managment is that it is relatively easy to replace it. Getting the Alaska problem straightened out and improving safety performance are relatively straight forward things that can be done easily and predictably.

    Because of this, I see BP going to about 75 pretty quickly.

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    • BP temporarily depressed due to all the problems.

      The bad news, and there was a lot all, discounted when
      the stock got down to the high $50's.

      BP was one of only a few oil companies to replace reserves
      over the last 3 years.
      Libya, Angola & GOM are nice positives.
      The Russians need & want foreign participation.

      At a 10-PE, there is a lot of upside.
      In a bull market the news is bullish.

      The last time we had an energy bull market in the '70's, oil companies outperformed for 7 years.

      The price will surprise on the upside.

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