Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jacob Snyder who wrote (137916)	7/21/2010 12:20:12 PM
From: CommanderCricket	Read Replies (1) \| Respond to of 206334

Jacob, I'm looking at the RIG Aug $45 puts selling for $2.20 and like the premiums. May sell a few too. If assigned next month, my cost basis would be $42.80 or a buck above its low. Michael

To: Jacob Snyder who wrote (137916)	7/27/2010 8:56:11 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 206334

BP Q2 2010 results: quarterly loss of $17.2 billion pretax charge of $32.2 billion (includes 20B$ fund, but not fines) plans to sell 25-$30 billion of assets, up to 13% of production assets (more than previously announced 10B$) an asset base of some $250 billion today 18 billion barrels of proven reserves and 63 billion barrels of resources at the end of 2009 plans to reduce its debt, now about $23 billion, to $10 billion to $15 billion within 18 months Capital spending through next year will be about $18 billion annually, in line with earlier estimates consider reinstating its dividend in February 2011 Second quarter operating cash flow was $6.3 billion – $6.8 billion. However, excluding Gulf of Mexico oil spill related payments, underlying operating cash flow was $8.9 billion The company’s global production assets — which do not include its refining or marketing business — are worth about $230 billion, according to estimates by J. P. Morgan Cazenove. (today's market cap: 121B$) Excluding non-operating items and the $32.2 billion oil spill charge, BP posted an underlying replacement cost profit of $5 billion for the quarter, up 70% from $2.9 billion in same period last year. From the earnings call: Q: ...safety was front and center of the entire agenda over the last three or four years. So, I’m a little puzzled about how that change will be put in place... A: Well, the first thing I could say is that you are right that there are many things that are still left to be understood, things that would lead us to various conclusions, but it is also clear that this is an accident that of course should never have happened. And we need to scrutinize and make sure we understand the implications of that in everything we do, in processes, the way we operate, our organization, the governance, the discussion of risks and so on. It doesn’t mean at all that we think that we have done something wrong in the way the company has been led by Tony. I think everybody has been impressed as you say in the way that Tony has led it, and safety has absolutely been the number one priority. But any accident of this magnitude will bring learnings to us, and it will bring learnings to other players as well in the industry, and that will have an impact on strategy and governance and ways of working. (my comment: boilerplate, nothing specific; the claim that safety has been a #1 priority under Hayward is absurd) Earnings Call Transcript: seekingalpha.com money.cnn.com nytimes.com