MARKET TALK: BP Shrs Remain Prone To Media Commentary-Dolmen

28th Jun 2010 11:30

1030 GMT [Dow Jones] BP (BP.LN) can absorb the fallout from the Gulf Of Mexico oil spill, as its balance sheet and cashflows sufficient financial flexibility, says Dolmen Securities. Dolmen notes drilling on the two relief wells is progressing ahead of schedule and the addition of the Q4000 with a free-standing riser has increased collection rates by approximately 10,000 barrels a day. "Despite this, much uncertainty remains over the eventual cost of the disaster. As a consequence short-term price action will continue to be driven by media commentary rather than stock fundamentals." Short-term, BP remains a speculative buy, says Dolmen. Shares +3.8% at 316p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 28, 2010 06:30 ET (10:30 GMT)