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Premier Oil Share Price - PMO

Share Name Share Symbol Market Type Share ISIN Share Description
Premier Oil LSE:PMO London Ordinary Share GB00B43G0577 ORD 12.5P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +4.65 +4.69% 103.80 103.70 104.00 104.60 98.00 99.50 4,455,152 15:55:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
Oil & Gas Producers 1,046.0 -246.5 -25.9 - 530.22

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Date Time Title Posts
02/9/201521:40Premier - Charts and All5,575
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31/8/201502:13L2 - Observations, comments and screenshots1
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24/10/200612:59Premier Oil - 20064

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mikesnr1: I wrote on 19May2013 (PMO Post3783)seeking an explanation for the apparently inconsequential nature of broker recommendations. I was advised politely to ignore them! Against my reasoning, it seems I certainly should have, but didn't. Still utterly perplexed, may I re-present the case and ask for serious consideration and comment? I'm a relatively unsophisticated investor whose feeling of powerlessness in the relentless devaluation of PMO prompted me to 'check out' the purpose of our (i.e PMOs) brokers. Those accredited are ALL MMEs/brokers/dealers. Frequently I'm told glibly "The market (market maker?) sets/influences share prices, not broker recommendations". But 'our' brokers ARE market makers by definition. And brokers. And dealers. And presumably advising their clients on the merits of investing in PMO to achieve the target price? So I choose to follow their advices. Todays count:15 Strong Buys;1 Buy; 2 Neutral;1 Strong Sell. The buys vary from 385p to >500p... Latest recs:- 09 Dec 2013 Finncap Buy 405p target 10 Dec 2013 Barclays Buy 555p target 11 Dec 2013 Goldman Sachs Buy 430p target ...And yet I've got it all wrong. --------------------------- Might I make comment on other contributions from the same board:- Dr.Biotech, 22May 2013 Post3787 "Specifically to PMO the share price will always be more dependent on the oil price and drilling results than broker forecasts. Trying to predict those two is somewhat difficult" The average price of Brent Crude 01January/11December 2013 has been about US$109.5, varying by only 14 cents (depending upon ones sources). According to the PMO Investor Presentation of 12December2013 "(This year)6 out of 7 exploration wells proved successful, and PMO delivered on portfolio upgrade". During the same period the PMO share price dropped from 400p to its present 4-year low of around 292p The reasoning behind your statement appears not to be borne out by the facts I'm genuinely sorry to say;equally perturbed that it should be so. --------------- buywell, 2May2013 Post 3713 (accompanied by PMO share price chart) "I think RKH will drag PMO below 300p" Buywell, I want to congratulate you on the many 'pessimistic'(for some!) but consistently accurate predictions made of PMOs share price. I assume you are a chartist? Your forecasts henceforth will be eagerly anticipated - by me at least. Will be obliged for any input you care to contribute. Thanks ---------------------------- Am about to berate the CEO for the appalling downward spiral this year. I don't expect a reply though. He'll be busy spending my £80k losses (since the EO.buyout)on buying up more acreage off the Falklands!
spacecake: There is a very strong correlation between brent and pmo share price, however drawing lines on a historical price chart to predict prices in the future is a folly. Should I sell now and repurchase in the future at a cheaper price ? only to find some random event sends the price up and further away from where I sold. That gambling. At some point (this year, next year, next decade!) the global oil imbalance will sort itself out. Currently, Mr Durrant and others are responding to changing market forces and IMV doing a good job. I guess (not a prediction!!) it's going to be a very long rocky road to happiness.
spacecake: Expensive risky behavior, all that trading costs money. Difficult to understand and as you say unusual, but, the stock market can be unfathomable at times. I try not to think about it too much and over the last twenty years found that not trading too often makes more money than flitting about from idea to idea. PMO share price seems more correlated to the oil price than any of its own actions.
bakunin: QuePassa long, so the Midas touch should send PMO share price up. But, today sold the last tranche of what I picked up at 126. Cushing, sanctions, contango, ... Big feeling of massive manipulation gone almost badly wrong. Inventories reports will probably now get manipulated for a few weeks with all the high-profile, trumpeted new longs (and yet Andy Hall's fund only returns 3.9%). The point-of-no-return moment is only about 4 weeks away, though. If it comes, crude going to at least $30. In which case, PMO will go way below 126. Starting to feel a bit like 2015 could be systemic crunch time for the oil+gas industry in the same way that 2008 was for the banks.
mikesnr1: This article may be of general interest? By Peter Stephens | Fool.co.uk – Tue, Dec 30, 2014 09:55 GMT "Suffice to say, 2014 has been a very challenging year for investors in oil stocks. After all, the price of oil has almost halved during the course of the year and now stands at just $56 per barrel. However, there could be further price falls to come, with Saudi Arabia apparently willing to let it fall to as low as $40 per barrel as it seeks to outmanoeuvre Russia and the US shale industry. As such, things could get worse before they get better for investors in oil stocks. However, for investors considering buying oil stocks such as BP (LSE: BP) (NYSE: BP.US), Premier Oil (LSE: PMO) and Gulf Keystone (LSE: GKP), now could be the perfect time to do so. That's because their share prices appear to price in an exceptionally bleak scenario where the price of oil will fall much further and stay there for a considerable period of time. So, if there is a positive surprise in that regard, it could lead to increases in the share prices of the three companies through improved sentiment. BP For example, BP trades on a price to earnings (P/E) ratio of just 9.4. This means that there is considerable scope for an upward rerating during the course of 2015, especially since the FTSE 100 has a much higher P/E ratio of 14.6. In addition, BP has a superb yield of 6.2% that is covered 1.7 times by profit and this could help to push the company's share price higher during the course of the next year, as income-seeking investors bid up the price of BP's shares. And, while the uncertainty surrounding Russia's economy could hurt the value of BP's stake in Russian operator, Rosneft, it remains highly diversified and vastly cheap. As a result, BP's share price appears to have a sufficient margin of safety included given the challenges it currently faces. Premier Oil Similarly, Premier Oil trades on a P/E ratio of just 6.6 using next year's lower forecast earnings. This seems to be extremely cheap for a relatively high quality company such as Premier Oil and means that there could be significant scope for an upgrade to its valuation next year - especially if the oil price does not continue its savage fall of the last few months. In addition, Premier Oil has a dividend that is extremely well covered by profit at 5.6 times and this means that there is considerable scope for higher shareholder payouts moving forward. Gulf Keystone Petroleum Of course, Gulf Keystone Petroleum's share price has been hurt by continued uncertainty in Iraq, as well as a lower oil price. As such, its shares are down 62% since the turn of the year despite there being relatively positive news flow in recent months. This has included the Kurdistan Regional Government (KRG) recently making its first payment to producers in the region, with Gulf Keystone receiving $15 million, and more payments are expected throughout the course of 2015. In addition, Gulf Keystone recently released an upbeat operational update and is anticipating production to reach 60,000 bopd over the medium term. While both of these examples could prove to be catalysts for share price growth next year, the situation in Iraq appears likely to remain volatile in the months ahead. As a result, and while Gulf Keystone does have significant long term potential, its shares may continue to disappoint during the course of 2015 due to the potential for further unrest in Iraq and its negative effect on sentiment. Of course, BP and Premier Oil aren't the only companies that could be worth buying right now. However, finding the best stocks at the best prices can be a tough task."
cricklewood: Yesterday on M/F The oil sector may seem rather akin to the ‘wild west’ at the present time, with the financial performance of its incumbents being heavily affected by a low oil price. As such, investors may be put off investing within the space, with it seemingly being difficult to assess just where the price of black gold and the profitability of oil companies will go over the short to medium term. However, by focusing on valuations, profitability and margins of safety, it is possible to turn a low oil price to your advantage. And, while the ultimate performance of the oil price is beyond your control, through focusing on minimising risk and maximising potential return, you can begin to bring order to your exposure to a highly volatile, but very promising, sector. For example, the likes of Tullow Oil (LSE: TWL) and Premier Oil (LSE: PMO) both offer exceptional value for money at the present time, which provides investors in the two companies with a relatively wide margin of safety. In other words, if the oil price does decline then both Tullow and Premier Oil could see their share prices hold up better than expected. In fact, despite recording mass-writedowns to its asset base last year so as to turn its bottom line from black to red, Premier Oil still trades at a substantial discount to its net asset value. It has a price to book (P/B) ratio of just 0.58 so that even if the value of its net assets falls by 42%, it would still be trading at a relatively appealing price. Similarly, Tullow has a P/B ratio of just 0.95, which indicates that the market is already pricing in a fall in its net asset base. If this does not occur, both companies could see their share price rise, while even if further asset write downs become a reality, their share price falls may not be so dramatic since investors appear to be pricing in such a scenario. Meanwhile, the situation appears to be similar for oil explorer, Xcite Energy (LSE: XEL). It trades on a P/B ratio of just 0.45 but, unlike Premier Oil and Tullow, is expected to remain loss-making in each of the next two years. This is understandable, since Xcite is in a different phase of its development and, with it having an appealing asset base, it could prove to be a profitable long term investment. However, with the current state of the oil industry and the huge uncertainty surrounding even some of the major players in this space, sticking with larger, more diversified stocks that are set to be profitable and which have more certain finances, seems to be a prudent move to make. Certainly, Premier Oil and Tullow Oil are more expensive than Xcite, but they also have more certain futures and could more easily cope with further challenges within the sector. In other words, they appear to strike the right balance between being cheap and offering a stable near-term outlook. As a result, they seem to offer the more lucrative risk/reward ratio and could allow you to take advantage of the turbulence that is set to continue for oil explorers and producers.
adh0: All in all good results but nothing to set the share price alight.Its steady as she goes to all intents and purposes, when the oil price recovers so will PMO, until then it will waft around the £1 level I expect. Which is annoying as I bought several tranches much higher.From the sounds of it the Falklands development is definitely on hold until the price is up and outlook is rosey and EVEN THEN they are bringing another partner onboard.I suppose some M+A activity could liven things up...
the millipede: "can't see the share price going anywhere over the next couple of years. As long as this doesn't go bust, it will recover eventually.I paid £3.55 - will we see that again by 2020 I wonder?"FWIW I think there are several possible scenarios for the oil price and for the exploration programme planned for this year. On the oil price, although I do not think the Saudis will change their minds and start cutting production, their oil minister has suggested we have seen the price bottom and he has also suggested that the fall from $75 was driven largely by investors in oil investment products, not by the dynamics of the actual oil market. So IMO there is reason to suppose the oil price has reached its bottom and that a sudden snap back by $20 is not impossible. It could also be the case that the oversupply corrects itself more suddenly than anyone expects: large companies, say BP, cutting back on investment, some shale plays getting into trouble, etc. This could take a bit longer but the good news here is that PMO has hedged 40% of 2015 production at nearly $100/barrel.Then there is the exploration programme and, of course, anything could happen but it is not inconceivable that the Falklands campaign is about to open up a whole new oil province..... it would be strange IMO if SeaLion turned out to be the only commercial oil field out there. Any success there, on wells that have a high chance of success (according to the presentations), should be good for the share price.Plus of course the company were buying back shares at £3.30 so they must have seen that as a crazy low price otherwise would they not have invested in the business not in the stock?Who knows what might happen. Maybe none of the above but I think there are reasons to be positive for buyers now and perhaps for anyone who bought at higher levels. IMO...... anyone agree/disagree? I wrote something similar on iii which had provoked absolutely no comment at all!
ohisay: Whackford - that's a sad story - PMO price when Encore folded was 330p odd ??
kiwi2007: Odd that the bond price is down hard whilst the share price is up? Makes no sense to me. hTtp://uk.advfn.com/cmn/chrt/chrt_wrap.php?epic=PMO1&name=&type=1&sprd=0&size=2&period=4&freq=1&date1_day=27&;date1_month=10&date1_year=1986&date2_day=20&date2_month=08&date2_year=2015&ind_type1=0&ind1_1=&ind2_1=&ind_type2=0&ind1_2=&ind2_2=&ind_type3=0&ind1_3=&ind2_3= Bond holders do though tend to look long term and less speculatively.

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AT 910 103.80 03 Sep 2015 15:54:44 GBX

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