Bought £10K of BP shares at 545p. Long-term winner?

Yup.

oil will be at $50 by year end

At 535p now. Knowing my luck , it'll be at 500p by next week. Hopefully it'll recover to 650p-700p by 2011.

The reality is our civilization is built on oil, and demand for it will increase year upon year for many more years to come.It will eventually be replaced, but that it far into the future.

It does look like BP will be be around 500p for atleast 6-10months. Personally, I wish I had waited and bought at 500p, but Im happy with 545 too.

There is absolutely noway it'll cost them a years profit, maybe a quarters.

Exxon paid out around $4B for a much greater disaster, which pretty mush destroyed the coastline.

This oil spill will have far less severe consequences, this is a pipsqueak compared to Ixtoc 1.

They are drilling two holes simultaneously, and moreover they are using dispersants at the source. This essentially breaks a large portion of the oil into harmless fractions.

Fianlly, most of the oil is underwater and will be decomposed by bacteria. This area of the Guls is also a natural dead zone created by the waste coming from the Mississipi.

BP would be responsible for about 65% of the liabilities, Halliburton and others will cover the rest. Even with a total liability of $10B, they will only pay out $6B.

I feel it will come down to 500p, and wish I'd waited. I will out another £5K at 500p. 600p should be the minimum for BP.

They will have to claim equally from American companies too. The more BP pay, the more Halliburton and the others have to pay.

As I said, even if the payout was $10B, BP is liable for a fraction of that. They would end up paying around 60% of it.

The price will fall for the next 6 or so months and end up at about 500p. At this price I urge everyone to buy, don't buy at 530p or at 545p like I did.

But before it is gone, the price should appreciate a lot. Still, may many years left.

you said earlier it could take 6 months or so to end up there, now it could be lower than that by next week!

They deserve all the flak they are getting , awful penny pinching company , i hope they are punished big time for this.

BP making a further attempt to stop leak next few days

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/homepage/STAGING/local_assets/bp_homepage/html/rov_stream.html

live pic

if they dont block this leak tommorrow , along with all the other news korea etc the spooked market may drag bp even lower by the end of the week i hope .... it is a long term investment for sure

The Ixtoc 1 was in the 70s or 80s.

BP, Halliburton and the rest did fvck up, and will be punished, but at 400-450p there is huge value for long term investors.

Demand for oil is rising and this will continue for a while.

o% chance of a 42 Billion liability. It's political Hot Air. Even the Supreme Court ruled in Exxon's favour, regarding punitive damages.

Latest attempt to surface kill the well has failed. I believe we will see the shares drop to around 450 or lower next week.

Anyone with any sense would have took the recent bounce to 520 odd as a chance dump their stock. Probably too late now, although if you could get 480 on monday you should take it.

There is also no guarantee the relief wells will work. Coupled with the latest falls in the oil price and likelihood of less or no dividend I can only see the shares heading further south.

B.P have some extremely large projects ready to kick of in the Gulf of Mexico! This could see them put on the back burner for years!!! Get out while you can

I have made my decision now, BP has utterly failed to bring a stop to the oil leak, and now it won't be stopped at least until august. BP should be 400p by then.

I hope I can get 480p on Monday. Overall my first punt on the market and my first loss too.

I will buy BP once it bottoms out at around 400p.

This is my first trade and I will have made a loss of more than £1K, although the loss was entirely due to my greed.

I hope BP falls like a rock until around august/september (when the two drilling platforms finally intercept and cut off the oil flow). I will then invest that £9K, I expect that over a year or so it will rise enough to cover my initial losses and return me a reasonbale profit.

Fedhater you won.t get any price monday as the markets are closed , but i fear when the market does open Tuesday things are going to be ugly and even more ugly for BP.

Spains debt downgrade which came through late Friday is going to be damaging to the market in general , but for BP it will be a double Whammy and i think you will be lucky to get 450p on Tuesday .

Looks like you've fallen victim to that old city saying about catching a " falling knife " . Good Luck.

I've already executed the sell order through by broker at 494p, although I won't get this price. 480p and I'llbe very happy.

Unfortunately I did catch a falling knife...but fortunately I'm exiting before it does anymore damage.