BP Shares?

Discussion in 'Finance, Property, Law' started by TheBigUn, Jun 15, 2010.

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  1. Should I consider buying some now or not?

    If I happened to have some "spare" money I could afford to lose should I take a punt and buy while the share price is particularly low?

    Would any of you city yuppies like to offer some (sensible) expert advice?

    Thanks :D
  2. Gremlin

    Gremlin LE Good Egg (charities)

    Don't touch it until the dividend issue is resolved. It may well (and probably will) drop further yet!
  3. I've got BP shares and was steadily increasing my holding as the price dropped. Then the obummer started going off on one every day and that has really removed all the logic from the process.

    In theory they are excellent value and you should buy as many as possible - unfortunately all the guff and nonsense coming from obama has the capability to knock the share price very low and possibly cripple the company. I won't be doing anything with mine until it settles down a bit and the issue concerning the damages fund is resolved and the president shuts his face.

    I'm in, but I won't be buying any more at the moment. Now Aviva, that's a different matter!
  4. I think that someone is making bullets for the Pres to fire. If the share price drops a hostile take over by Exxon or such like may be possible and then the US controls another huge oil company. The divided is the crucial thing, if it's only deferred then we are probably OK.
  5. Don't buy yet would be my answer. The supermajors may be queueing up and rubbing their hands, but until the leak is truly under control then any potential buyer will take on the liability. Wait and see how the relief wells do. If they become manageable but very expensive then a buy-out attempt could be on the cards, but if the relief wells fail it would be a big gamble to buy out BP.

    Bottom line is that it's a big reservoir and could be leaking for some time yet.

    I know fortune favours the brave, but not yet for me.

    PS I'm not an engineer or a financial type, it's just my opinion.