GlesgaKiss

Just seen on Bloomberg that BP are evacuating all employees from the GoM due to weather. Hopefully only as a routine precaution. But it's interesting how much BP had fallen before that was announced. You wonder who knows what.

alloy

It's not hard to guess that the weather could/would effect offshore rigs....also if a news story is breaking in the press or on TV the move has already happened!

GlesgaKiss

So where does the information get to first and who gets to use it? Presumably the big players like banks etc have information coming in before it's even in the process for being aired to the public?

alloy

The geography of oil company operations is well known, storms and their movements are monitored, if it looks like its heading in that direction its not hard to put two and two together and start selling!! Same goes for civil unrest, if its in an oil producing territory its not hard to hazard a guess that production lines could/will be effected and again start selling. If anything it is precautionary!

Also on a side note the oil rigs are notorious for being a haven for leaked information.....as a guy is getting evacuated he's on the phone to his mate and all of a sudden the cat is out of the bag

billythekid

Some better news today I think... hope this starts to boost the price up a bit as its dropped a lot recently (along with everything else)

RobsyUK

iTrader: (2)

I wish I purchased some of their shares when they plumeted after the oil spill. my boss at work did £5k on them when they went down to £3 (ithink) and now look where they are...

GlesgaKiss

Now got quite a few more shares than when I first bought, due to scrip dividends. Accumulating nicely!

Dingdongler

Hit £5 this week.

Sweet!!

Jay m A

iTrader: (2)

Sold mine last week at 4.98, with dividends total return 60%, happy with that!

billythekid

Anyone got any thoughts on where its going in the next couple of months..