Harbour Energy Share Discussion Threads

[nicky21] 12/7/2018 14:22

Guys you really need to check out COPL currently to buy 0.55p.a potential to be a multi baggar.it tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company.
Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset.
The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil.
When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true.

What is holding the share price back presently is NNPC approval.

$60m was spent on this asset by the previous operator.the potential for Copl is huge.
I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m)

Copl management wants it to be a mid tier oil and gas company ie £250m-£500m

All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE

[aishah] 12/7/2018 14:14

Oil Shock: Iran sanctions could push crude to $100

US-led sanctions against Iran could help push oil prices way above from their current $77 a barrel, says Columbia Threadneedle head of commodities David Donora.

[aishah] 12/7/2018 13:49

Is the Premier Oil share price heading for 300p again?

Desperately undervalued
With leverage now nearly halved since 2016, in my opinion the shares look desperately undervalued. In the past, the stock deserved a low multiple because of the bankruptcy risk surrounding the business. Now this risk has receded, but the stock still trades at a depressed valuation, giving a wide margin of safety for investors, in my view.

City analysts believe the company is on track to report earnings per share of $0.32 for 2019, or 24p based on current exchange rates (based on the current production rate this looks probable). This means the shares trade at a 2019 P/E of just 5.4, compared to the broader oil & gas sector average of 11.4. As Premier continues to clean up its balance sheet, I see no reason why the stock cannot trade up to this multiple — as long as the price of oil doesn’t collapse again.

Put simply, as Premier’s borrowings continue to fall over the next 18-24 months, I believe the shares could be worth between 250p and 300p. There’s still time to profit from the Premier recovery.

[jelenko] 12/7/2018 12:54

The thing to remember is that generally oil prices are higher in the second half of the year. Trump might be able to cause the odd blip in the oil price but he cannot effect true supply/demand and that will dictate the price of oil. the long term trend is up. He's only had another go at china because they are willing to buy Iranian oil.

He is behaving like a playground bully, he's forgetting that there is always someone bigger, stronger, and cleverer than you and at some point he will meet him.

[deans] 12/7/2018 12:30

Correction to my post above whilst Catcher is producing at 60k it is only 30k to PMO doh! Apologies all round.

[adg] 12/7/2018 10:53

They said it all several months ago by stating that they expect to return to investment grade rating the end of this year....

It is quite obvious that H2 2018 WILL BE A GAME CHANGER and PMO will return to favour and with that a healthy SP

Barring a total POO disaster (like that muppett idiot windylicker brokenbrain orangutang trump doing something even more stupid if that were possible, for example), fwiw my opinion is that we are gonna come really good in the 6 to 12 months.

[american idiot] 12/7/2018 09:20

Probably massively increase cap-ex on new projects ;-)

[datait] 12/7/2018 09:20

going blue folks.

[s34icknote] 12/7/2018 09:16

300 400 million in second half What will they do for the whole of 2019 with better hedging !Sicknote

[s34icknote] 12/7/2018 09:15

Catcher was 13000 barrels half one 60000 half two !Oil over 70 dollars makes all the difference Cash flow 2 h will be greater and little expenditure All second half weighted like the England game !Sicknote

[marmar80] 12/7/2018 09:14

Nice recovery here!

[seangwhite] 12/7/2018 09:14

Zama in q4 so something to look forward to for a rosier 2019

[bis5] 12/7/2018 08:35

very disappointing on production so far for 2018

[american idiot] 12/7/2018 08:29

The higher average production from Catcher over H2 should ensure production targets are met but the point I'm making is there is no overall growth in production (Catcher ramp up offset by natural declines / asset sales / planned shutdowns which wont be one-offs etc etc) and the only debt reduction is purely down to the higher price of oil.

The only positive is the high oil price will speed up debt reduction.

[mercer95] 12/7/2018 08:28

Disappointing price action first thing but it will stabilise IMO, that oil drop last night obviously doesn’t help just before a trading update, I’m just gonna hold.

[fitton] 12/7/2018 08:22

Interesting share price action this morning.It's is rather amazing that even though there is a large volume of shares being traded I could not buy 25k of shares via Barclays at 1.23 or below for a good 7 or 8 minutes.

[fireplace22] 12/7/2018 08:21

Full year guidance is maintained so no problem. First half had some planned shutdowns and gas purchaser maintenance issues.

[american idiot] 12/7/2018 08:13

H1 2017 production - 82.1k

H1 2018 production - 76.1k

Catcher H1 2018 - 13.3k

Without Catchers H1 2018 production, H1 2018 production would have been 62.8k v 82.1k 2017.

We know a few assets have been sold in the last year but thats still a real hefty fall in production (excluding Catcher) over the past year.

[asa8] 12/7/2018 08:06

The debt is the elephant in the room

[paulbiya] 12/7/2018 07:28

Some nice hedging coming in though...