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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Harbour Energy Plc | LSE:PMO | London | Ordinary Share | Ordinary Shares |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.40 | 22.50 | 22.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5676N Premier Oil PLC 15 July 2003 PREMIER OIL PLC ("Premier") Statement at Annual General Meeting Premier is an independent exploration and production company with gas and oil interests principally in the UK, Pakistan, Indonesia and West Africa. At today's Annual General Meeting, Sir David John, Chairman, made the following comments: "2002 was a milestone year - the culmination of several years of financial and operational performance. The restructuring will be completed shortly and will transform Premier into a fully independent oil company for the first time in 8 years, able to pursue its strategy of value creation and early realisation through oil and gas exploration and commercial deal-making. Net asset value per share for continuing shareholders will increase by 20 per cent post restructuring and our gearing and debt levels will be reduced to low levels. "Production post restructuring will stand at around 35,000 barrels of oil equivalent per day on a sustainable basis and we intend to keep the Group's finances strong. "Looking ahead, we have an exciting drilling programme over the next twelve months. In the UK we will be drilling on our new farm-in licence P1048 in the Moray Firth and in Pakistan, three wells will be drilled, and another in Jaipur, North Eastern India is planned. "We announced in May this year, that we have entered into a multiple asset transaction with exploration company Fusion, which builds on our West African position. We expect to drill three wells in Mauritania this year, as well as up to five further wells in Guinea Bissau and Gabon in the first half of 2004. We see this area as having the potential to replicate the business we built in Asia. This is part of our strategy to build a significant business in the region with medium risk exploration and a focus primarily on oil. "Our goals are very clear. We want to generate further shareholder value whilst continuing to close the value gap between our assets and share price. We will achieve this by building core business areas together with exploration success. We will also continue to manage our portfolio actively by maximising value at optimum times in the cycle, as illustrated by our recent UK and Australian disposals which have raised over #18 million in cash. "In conclusion, I believe the company has an excellent platform of assets from which it can successfully grow in the future." 15 July 2003 ENQUIRIES: Premier Oil plc Tel: 020 7730 1111 Charles Jamieson John van der Welle College Hill Tel: 020 7457 2020 James Henderson This information is provided by RNS The company news service from the London Stock Exchange END AGMGUUAGMUPWGPA
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