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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Fiscally Conservative who wrote (134578)	6/11/2010 1:01:19 PM
From: Keith Feral	Respond to of 206181

Still seems early to tell what the exposure for BP is going to be. They certainly don't have the cash to get very far - only $5 billion. They have been treating their business like an ATM for shareholders looking for maximum dividend payouts. I haven't even looked at BP today, so I don't know it it's up or down. Stock seems fairly valued for $20 billion worth of damages around $30. If it goes to $40 billion worth of damages, there's no use in owning BP for the next 5 years regardless of the dividend. It would be nice to hear a drilling update on the relief well, since that's the only thing to kill the well. Last update was 2 weeks ago at 12K feet. Be nice to hear they are setting the next set of linings at 14K feet or whatever.