Harbour Energy Share Discussion Threads

[manics] 06/2/2017 15:04

It's Sea Lion which will motivate like Eon did imo. Premier already in "advanced talks" on financing ($1.5bn). Wait for that one to drop -a game changer in terms of demonstrable growth.

[frightened city] 06/2/2017 15:04

Maybe. But some reservoirs are nice and thick and therefore forgiving. Perhaps you haven't looked closely at the Catcher reservoir?

[theelectrolyte] 06/2/2017 14:59

That's just the same as with any new development (by anyone) Frightened City.

[frightened city] 06/2/2017 14:45

Main risk with Catcher is the reservoir and therefore not achieving promised production. IMHO.

[bakedbean57] 06/2/2017 14:20

Catcher is also about c30% under budget with FX and reduced costs...

[bakedbean57] 06/2/2017 14:19

But we have a greater than 80,000 bopd underpin! Peaking at times at 96,0000 boepd. Solan not great but will get sorted and still contributing c13,000 bopd.

[frightened city] 06/2/2017 14:12

Ithaca paid the price for a project with problems and a debt hill.
Remind you of anybody with a really poor project and a debt mountain?
Solan was ~2 years late, double original budget, 50-60% of promised production.....
Why the faith that they can do Catcher better? Even more so with Sea Lion!

[deanroberthunt] 06/2/2017 13:56

daylight robbery at Ithaca...

[bakedbean57] 06/2/2017 13:45

Cheers manics appreciated

[manics] 06/2/2017 13:08

January Euroclear update:

STOCK ON LOAN -monthly averages
JAN17 74.8m (15%)
DEC16 77.4m (16%)
NOV16 58.9m (12%)
OCT16 33.1m (6%)

[patience a virtue] 06/2/2017 11:41

Quiet on this thread, a very good sign. The short termers are gone and we can start to enjoy some peace and quiet, and share price moving up.

[squiresquire] 06/2/2017 09:44

One whifffy of a decent buyer and the shorts have a lot to close. The MMs will take as much delight skinning them, as they did us. Time to skin the shorters IMO

[squiresquire] 06/2/2017 09:30

Looking very very cheap though

[nav_mike] 06/2/2017 08:41

Would be interesting to know how many or what % of the 90m warrants will be issued to those linked to short positions

Could be drag on the price for a while if shorters have a safety net of warrant shares they can close out with.

[bakedbean57] 06/2/2017 08:36

Hardly anything hit the SETs come on this is now looking obvious !

[begorrah88] 06/2/2017 08:26

Usual story so far.

Being kept at 84pish while both sides weigh up the next move.

[crystball] 06/2/2017 08:04

Only the start of consolidation in the oil and gas sector. Would someone please make an offer for RKH?

[stansmith3] 06/2/2017 07:09

great news

[manics] 06/2/2017 07:06

IAE taken out at 120p this morning. Implications for North sea oil imo, especially given the established context set by Chrysaor/Shell last week.

[manics] 05/2/2017 17:44

Nice to see Premier coming out swinging at long last. Lets keep a momentum!

[leoneobull] 05/2/2017 17:38

While Sea Lion still has hurdles to clear, Premier is preparing to make an investment decision "shortly" on a gas project in the southern North Sea. Mr Durrant said the $600m Tolmount development, part of a package of assets acquired last year from Eon of Germany, was drawing interest from infrastructure funds interested in backing the project, which includes a gas pipeline to Yorkshire.Approval for new projects will be needed from Premier's creditors, who have been given more say over how the company spends money, after Friday's deal to extend debt maturities to 2021 or later. Mr Durrant said lenders were "on board" with Premier's plans. But Ashley Kelty, analyst at Cenkos Securities, questioned whether banks would have the stomach for a project as big and risky as Sea Lion after the pain of recent years.Premier's debt ballooned as it pushed ahead with its $1.6bn Catcher oilfield in the North Sea while low prices hit existing production. Mr Durrant said the company was turning a corner as it prepares to bring Catcher on stream later this year.Mr Kelty said Premier needed further oil price increases for sustainable recovery: "I do not think they are out of the woods yet," he said.

[leoneobull] 05/2/2017 17:31

Today 16:53Price: 84.25Godbless74 postsFTSave AN HOUR AGO by: Andrew Ward, Energy Editor Premier Oil is preparing to seek finance for a $1.5bn development off the Falkland Islands, as the UK company refreshes its strategy after its long-awaited debt restructuring deal last week. Sample the FT's top stories for a week You select the topic, we deliver the news. Select topic Enter email address Enter email address Invalid email Sign up By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy. Tony Durrant, Premier chief executive, said calmer relations between the UK and Argentina had improved the outlook for investing in the Falklands, where Premier has an estimated 520m barrels of resources in a field called Sea Lion. Mr Durrant said his priority remained strengthening the balance sheet, after agreeing terms last week to refinance $2.8bn of existing debts. However, by ending uncertainty over Premier's future, the deal with creditors would allow management to start laying the ground for development of Sea Lion, the company's biggest untapped asset. "The majority of our 2017-18 cash flow will be dedicated to reducing net debt?.?.?.?but from 2019 we will be able to invest," Mr Durrant told the Financial Times. He planned talks with lenders and investors about Sea Lion this year, even though a formal go-ahead would not come until later. "Balance sheet is the priority, but an exploration and production company which doesn't reinvest will eventually disappear," Mr Durrant added. Development of hydrocarbon reserves around the Falklands has been held back by tensions over UK sovereignty of the islands, which lie 300 miles off Argentina and were the cause of war between the two countries 35 years ago. However, Mr Durrant said prospects had improved since Mauricio Macri succeeded Cristina Fernández de Kirchner as Argentina's president in 2015. The centre-right leader has prioritised trade ties with the UK ahead of the Falklands dispute, in contrast to the belligerent stance taken by his predecessor. High development costs in the remote south Atlantic have been another obstacle, particularly since oil prices crashed in 2014. But the economics have been improved by cost-saving measures and a recent rebound in prices above $50 per barrel. Mr Durrant said projected capital expenditure on Sea Lion had been cut by 17 per cent to $1.5bn, while the breakeven point for the field had fallen from $55 per barrel to $45. Premier plans to sell a stake in Sea Lion to help fund development. While Sea Lion still has hurdles to clear, Premier is preparing to make an investment decision "shortly" on a gas project in the southern North Sea. Mr Durrant said the $600m Tolmount development, part of a package of assets acquired last year from Eon of Germany, was drawing interest from infrastructure funds interested in backing the p

[hearts1] 05/2/2017 16:49

Should see some action on the asset sale front over the next few weeks.Hopefully Catcher will start to get priced in as it gets closer to FOIL.

[marvin9] 05/2/2017 16:29

Nicked this from another site:

Just spoke to Elizabeth Brooks at PMO IR. Very helpful again.

The key point that I wanted to establish was that dilution will only be gradual over the 5 year period and will only occur as and when individual warrants are exercised. This is the case.

After the 5 year term the option will just lapse.

Synthetic warrants do not dilute and warrants can also be detached from the bonds and traded over the counter.

Warrants will be eligible to exercise by the April/May time but don't expect much action (i.e dilution) until the share price is a lot higher. At which stage, a little gradual dilution won't hurt anybody as the bigger picture will have well and truly emerged.

GLA.