Share Name Share Symbol Market Type Share ISIN Share Description
Premier Oil LSE:PMO London Ordinary Share GB00B43G0577 ORD 12.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.50p +1.32% 115.20p 115.30p 115.50p 115.70p 113.00p 113.00p 3,904,754 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 772.3 -271.2 -36.6 - 894.91

Premier Oil Share Discussion Threads

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DateSubjectAuthorDiscuss
21/9/2017
15:23
gregpeck7........Thanks for the kind words.For the past 37 years, I have made my living out of trading shares from home...........So......I have no option but to get it right (as much as I can anyway..!) Regards , Moneybags, IOM
moneybags
21/9/2017
15:17
Ps I agree you have pushed them up. It's classic coiled spring here and you may well have times that buy close to perfection imo.
gregpeck7
21/9/2017
15:16
Moneybags, i bought just over 150,000 recently, did 4 trades to avoid the premium... like you say anything over around 100k they get fussy..
gregpeck7
21/9/2017
15:11
I haven't had PMO at the going price on the purchase side for a while now. anything from 100,000 shares upwards, they always want a premium. Moneybags 'Quote of the Day'...............If your in the city mile and you see a yellow Porsche go past, You can say..........'I helped to buy that car'.....Ha The stock market is all good fun Regards , MoneyKeepPumpingThatOilBags Later Edit.............Looks like I just moved the share price up (for the moment anyway)
moneybags
21/9/2017
15:02
Well done moneybagsI'd have preferred to see you put the 200000 on the bid at 62p though;-)
begorrah88
21/9/2017
15:01
To clarify my point using your example:-If I value the company at 100 & the share price is 50 then I would buy but what I wouldn't do is buy at 50 & simultaneously short the same stock.That, to me is self defeating
begorrah88
21/9/2017
14:55
Thanks for taking the time to post that onedb1I cannot fathom how they make a profit over their costs as they (like many) are operating a potential neutral strategy.Gains on a falling share price offset by CB arbitrage is hedging against yourself. I can understand why some funds do it as they are governed by requirements to actively use client funds rather than leave them on account but it does appear to show a lack of conviction in what you are doing if you are hedging against yourself & sitting both sides of the fence.I get the pricing imbalance exploitation logic but don't believe that opportunity has just presented itself for Polygon any more so now than when this all kicked off.I also question whether the CBH are minimising their own potential returns by holding the share price down. That equation loses any cost effectiveness the longer it goes on and the more the cost of financing a shorting strategy?Anyway cheers
begorrah88
21/9/2017
14:47
Just topped up with another 200,000 shares at 62.52p...... 14.44 timed trade (showing now) and had to pay around a 1/4p premium, to be expected. Regards , Moneybags, IOM
moneybags
21/9/2017
14:22
begorrah88 & Nav_Mike Hi there First of all am ex City , I worked in many different roles. My major is in Finance, I am also close to finishing my CMT exams( chartered market technician) and I have to finish some CIMA exams ( I never completed it but have just a few to do should be quick) I understand what Polygon is doing and others in their position as first of all I know what Polygon does. Polygon Convertible Fund is one of the best using Sharpe Ratios as the reference point. The second part is to understand what a convertible bond hedge does. I wrote a long piece on the iii bb of PMO ages ago about this. When all this started. If I find it, it should be useful as I have one memo with all the levels. So short version : 1st of all one needs to understand what a convertible bond actually is and what the arbitrageur is trying to do. Now the CB definition you can find on investopedia or similar sites, maybe wiki too. But what they are trying to do is what most are interested in and its vaguely this : Convertible arbitrage implies that a hedge fund will buy a company’s convertible bonds at the same time as it shorts the company’s stock.We see the shorts as they are over 0.5% disclosed by the FCA If the company’s stock price falls, Polygon will benefit from its short position; it is also likely that the company’s convertible bonds will decline less than its stock,( because they are protected by their value as fixed-income instruments). On the other hand, if the company’s stock price rises, the hedge fund can convert its convertible bonds into stock and sell that stock at market value, thereby benefiting from its long position, and ideally, compensating for any losses on its short position. So given that sometimes a company’s convertible bond is priced inefficiently relative to the company’s stock, convertible arbitrage attempts to profit from this pricing error. Which is what Polygon's gurus are doing . They are not there in the belief that PMO is going down but are using the mismatch in CB vs stock price. Technically when we buy stocks we are arbitrageurs too. We do our fundamentals evaluation and come up with a valuation. If the value is 100 and the stock is at 50 we buy as we think the stock is undervalued . Well they are doing this on the instrument . Hopefully that is the simplest way I can put it.
onedb1
21/9/2017
14:21
Thanks for updates.
gregpeck7
21/9/2017
14:12
Catcher now in canal at 7kn, looks like one tug pulling and the second following behind.
fireplace22
21/9/2017
12:57
Oil falls back a bit will pmo rise?! Inverse relationship forming!!
gregpeck7
21/9/2017
10:07
Convoy out into Great Bitter Lake - good progress being made.
rogsim
21/9/2017
09:11
Onedb1Whilst I like your posts & positivity on iii, I would like to know how you say the Polygon increase isn't bearish with such authority?As NAV_Mike says - why increase now if it is CB hedge related?
begorrah88
21/9/2017
09:01
onedb1 Fair enough...though i am aware of the fact that its linked to the CB, as Ive bleated on about it for long enough :) Explain one thing though...given that no more CB have been issued, why the sudden need to increase their apparent short, when most of the others are reducing theirs? Genuine question btw Also....given that the CBs are likely to be around for years to come, what would be the timescale on this 'hedge'?
nav_mike
21/9/2017
08:48
Bid watching bots always ready to remove anything over 62pEither that or someone desperate to achieve that extra £4 for the shares they had to sell.Not sure what Polygons game is but I think it most likely they have been employed to keep this in the 62p area(whatever that takes) whilst hedgies/shorts close out.Probably having that favour returned on some other stock etc
begorrah88
21/9/2017
08:46
NAV-Mike,The short by Polygon has nothing to do with a bearish view .It's to do with the current convertible hedge in place. So it's not a conviction but purely a hedge. They are specialists of such strategy too .The whole restructure of the deal has forced the convertible hedge strategy in place by many , hence the illusion that some here have that the likes of Polygon is shorting PMO. They aren't really . The deal was complex for most private investors
onedb1
21/9/2017
08:23
They could be hedged, I doubt they would be naked.
jelenko
21/9/2017
08:11
Polygon Global must really dislike PMO lol....far and away the biggest short now at around 14 million shares
nav_mike
21/9/2017
08:04
Dodgey looking opening!
bakedbean57
21/9/2017
07:51
LoL fp... Leon, I'm sure TD won't be personally telling my broker how to convert warrants... but someone should be able to answer. Might be useful if TD is onboard, as it will sit a little lower in the water... ;-)) edit - in the canal now with a few "Mossad" tugs in attendance... Just the route 40 bridge to go now!!
steve73
21/9/2017
07:46
Heaven help it then!
fireplace22
21/9/2017
07:41
Steve. Give TD a break. He is at the helm steering Catcher through the suez
leoneobull
21/9/2017
07:28
Polygon really big increase in their short position..
gregpeck7
21/9/2017
04:29
My broker still doesn't know how to exercise the warrants. I have cash waiting and have requested the action to be taken. They have acknowledged receipt of my instruction, but have said they are awaiting details from the co. and as yet nothing happening. Shoddy & incompetent! (OK, so what's new?) Looks like the Cat is waiting for it's turn (or perhaps waiting for them to drain the level in the canal a little so it can fit under the bridge.)
steve73
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