Harbour Energy Share Discussion Threads

[adg] 04/7/2019 09:23

Oil usage is forecast to continue to rise up to 2040, all the 'easy' oil seems to have been developed and going forward the new fields are in increasingly more hostile environments and are generally getting smaller.
Recovery factors of existing fields could of course be increased as technology advances but generally the cost of extraction, as well as cost to develop smaller fields, will ultimately keep prices buoyant.
Just think if (when?) fracking in USA was outlawed? Or a really big kick-off in ME, or civil unrest in some of the larger producing countries.... what would happen to POO then?
I have firmly come to the belief that POO is to some extent controlled by a select few(people? Nations? who knows), as volatility (especially if part-orchestrated) makes a lot of money for those few.

[chinahere] 04/7/2019 08:53

Even if Oil and Gas become hated as much as tobacco, the companies will still be around. The oil use today is more than it's ever been I think. About 100 million barrels per day.

[johnwise] 04/7/2019 08:32

Royal Marines storm supertanker off coast of Gibraltar heading for Syria full of crude oil


BRITISH Royal Marines have stormed a super tanker off the coast of Gibraltar after suspecting it of carrying crude oil to Syria in a breach of European Union sanctions.

[deanroberthunt] 04/7/2019 08:16

I just wonder if the days of Oil equities have had their day and never will again as we move faster and faster to renewables.....it's a dirty anti climate industry now...

[deanroberthunt] 04/7/2019 08:15

It's nowt to do with algos or owt, it's all down to oil and gas sentiment and volatility....there's no investment.

[jelenko] 04/7/2019 07:38

Steve,

I think the 1yr payback says it all really.

[steve73] 04/7/2019 01:56

Trouble with Tolmount is that it's gas, and UK gas prices are highly variable (and I read somewhere expected to fall significantly over the next few years, although I can't recall if that was with or w/o a no deal brexit..)).

Many large gas producers sell their gas on long term (often Take or Pay) contracts, although I don't know about Tolmount. It's a Q I've been meaning to ask of IR for a long time.. Does anybody know for sure?

[whiskeyinthejar] 03/7/2019 20:51

I know RBC cover Tullow, so must be picking Premier over Tullow:



Anyway, there's a limit to how much I can discuss research I haven't seen.

But I watched Elizabeth Brooks' presentation today. She made important point that investors often overlook Tolmount. Its true imo, we rarely discuss Tolmount here. But in BOE terms, she points out project is same size as Catcher. Payback in less than a year.

And Tolmount East spuds this month. With potential to increase Tolmount reserves by 50%.

[frontdoor bull] 03/7/2019 18:21

Check out @PremierOilplc’s Tweet:

[whiskeyinthejar] 03/7/2019 17:28

It's not old news, they have updated their review of all the companies they cover.

Everything that's happened to those companies recently is collected and their valuations recalculated, so the research is bang up to date. I think it's unsurprising PMO came top again, with so much likely to add to valuation in near term.

[rationaleee] 03/7/2019 17:16

Whiskey - RBC had PMO as TOP PICK since April with 150p target. Its old news but would be interesting to see their report as well as UBS' if anyone can locate it

[peteret] 03/7/2019 17:10

Only 1% of new cars bought are electric or hybrid so we are still going to need oil for many years. It's a waiting game here at the moment while the shorters wreak havoc.

[whiskeyinthejar] 03/7/2019 16:58

I bet you're a barrel of laughs at a party.

I haven't seen this note, but I've seen previous Royal Bank of Canada notes where they cover a range of oil companies rigorously valuing each. So not just a meaningless comment. Actually well worth getting hold of their report if possible.

Their target price will be based on RENAV. Also meaningful.

Premier Oil plc@PremierOilplc
Royal Bank of Canada reiterated #PMO as a TOP PICK this morning with a target price of 150p/sh. #RBC highlighted #PremierOil's strong start to the year and subsequent further appraisal success at Zama

[nav_mike] 03/7/2019 16:27

Apparently RBC marked us a 'top pick' with a target of £1.50

Another probably meaningless broker comment....

[titasiinitramho] 03/7/2019 15:13

Worth a look if not already seen...

[nav_mike] 03/7/2019 12:12

Seemingly regardless of what the oil price does, our friends the algos are relentless in feeding small blocks of shares onto the offer.

Whether they belong to shorters, MMs or Goldman Sachs, its obvious they dont want the price up anytime soon

[onedb1] 03/7/2019 11:48

I agree share price is pants . The $800m paid down ( or on its way towards that figure end of this year ) has had very little impact on current market cap . Same as the clear value adding assets , ZAMA but the rest too . But technicals need to see 200ma flattening and then moving up . At the moment all my trades bar the recent 71.25 are just short term reversals . For trend to change we need some time

[deanroberthunt] 03/7/2019 09:16

going to take a long time to right this ship, much longer than originally thought

[cumnor] 03/7/2019 09:12

Needs to get debt below $1.5Bln by selling some assets and cash generation over next year. Then shorts will go away and share price will be £3+ if poo in $65-80 range. This volatility-related to debt fears-is a Godsend to the hedgies.

[osirisra] 03/7/2019 08:43

Trading and Operational update on the 17th of July. Me thinks PMO's share price is going to look pretty cheap if the debt reduction continues (as it should do) and the outlook is upbeat (which it should be).

[asa8] 02/7/2019 17:53

True onedb1 but the share price is pants

[edjge2] 02/7/2019 17:42

Top up time today wonder what the morro may bring. Drop at 8:30am?

[jelenko] 02/7/2019 16:08

I don't think companies like PMO sell much if anything at spot prices. Most of the sales orders must be pre agreed in terms of volume and price. The Spot price means nothing to anyone except oil traders/gamblers.