Technical outlook – Although this share has not had the best two-weeks of trading since the peak posted earlier in January at $2.91, it is from our assessment, that we believe, from a technical perspective, things are likely to start looking exciting for Beach Energy Limited (BPT).
It is assessed that this share is expected to recapture its bullish ‘oily charm’ and stage a move from the near-term base at $2.30-35 and gain momentum to and accelerate towards the region of $2.70.
Company Overview – Beach Energy Limited (BPT) is an oil and gas exploration and production company based in Adelaide, Australia. It has operated, and non-operated, onshore and offshore, oil and gas production from five producing basins across Australia and New Zealand and is a key supplier to the Australian east coast gas market. Former Names: Beach Petroleum NL (29/1/2003), Beach Petroleum Limited (BPT) on 15/12/2009.