Premier Oil Share Price (PMO)

Share Name Share Symbol Market Type Share ISIN Share Description
Premier Oil Plc LSE:PMO London Ordinary Share GB00B43G0577 ORD 12.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.65 0.58% 112.65 6,827,513 16:35:04
Bid Price Offer Price High Price Low Price Open Price
112.05 112.25 114.40 111.55 112.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1,095.86 124.05 13.57 8.5 937
Last Trade Time Trade Type Trade Size Trade Price Currency
17:48:02 O 389,321 112.50 GBX
Related Shares
Bp (BP.), Royal Dutch Shell (RDSA), Spitfire Oil (SRO), Nautilus Marine Services (NAUT)

Premier Oil (PMO) Latest News

Premier Oil News

Date Time Source Headline
20/1/202017:00UKREGPremier Oil PLC Holding(s) in Company
20/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
17/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
16/1/202011:51UKREGPremier Oil PLC Update on Schemes of Arrangement
16/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
14/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
10/1/202018:00UKREGPremier Oil PLC Holding(s) in Company
10/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
09/1/202011:00UKREGPremier Oil PLC Holding(s) in Company
08/1/202007:22ALNCFAlliance News Flash Headline
More Premier Oil News
Premier Oil Takeover Rumours

Premier Oil (PMO) Discussions and Chat

Premier Oil Forums and Chat

Date Time Title Posts
25/1/202019:20Premier - Charts and All47,738
26/11/201923:10PMO???????????164
28/10/201909:13premier oil - 2018 and beyond42
12/7/201911:59pmo by end of 20191
07/5/201916:55Premier Oil -821

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Premier Oil (PMO) Top Chat Posts

DateSubject
25/1/2020
08:20		Premier Oil Daily Update: Premier Oil Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PMO. The last closing price for Premier Oil was 112p.
Premier Oil Plc has a 4 week average price of 96.12p and a 12 week average price of 82p.
The 1 year high share price is 120.70p while the 1 year low share price is currently 64.48p.
There are currently 831,517,099 shares in issue and the average daily traded volume is 4,086,170 shares. The market capitalisation of Premier Oil Plc is £936,704,012.02.
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19/1/2020
09:31		montevid: If a share squeeze were to happen very quickly what price would you like to guess the share price could climb to to close out the shorts? Think about Porsche/VW short squeeze in Oct 2008 (82% rise). I would be willing to bet on this occasion the share price would increase 10s of multiples of the current share price due to the fact this is a much smaller company than VW with a smaller share capital and shareholder base (mostly made up of institutional lenders who will relish in teaching a lesson to the offending ARCM). Love to see a £50 plus share price to close out the squeeze. But probably wishful thinking. ARCM will probably do a deal with the FCA. Am I right that UBS Bank is a funder/participator in ARCM? I may have read that on a filing somewhere.
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02/1/2020
10:34		cyan: PMO share price is climbing and I note that the short positions are off the high a bit according to the chart on shortracker; hTTps://shorttracker.co.uk/company/GB00B43G0577/ Are the shorters giving up?
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13/12/2019
22:04		peterlowen: What was the reason for the drop in PMO shares from "Oct 3rd 2018" £143.70 a share price to 54.70p ? Oct 2nd shorts were at 13.87% and the start of a build up to 20.03% on 14th Jan 2018(PMO 12/01 £0.99 15/01 £104) then shorts all the way down to " on 30th Jan 2018" 4.45% and PMO at £0.88 Why would they start shorting after the news on 12 September 2017 Proposed Sale of Wytch Farm Interests for 200 mil ? 5th Dec 2018 Premier Oil PLC Mandatory Conversion of Convertible Bonds was the only news out and started the decline in the PMO share price from £1.41 all the way down to 54.70 on Dec 27th 2018 ( what a Christmas present, NOT) Could the shorting have been the result of the suggested (PMO's) interest in the sale of Chevron's north sea assets circ $2 billion that the FT published about that time frame ? and thoughts of of rights issues to spook the market so to cause the share price decline ? 11th jan 2018 a good trading update (catcher) shorts big reduction hence the short lived rise 99-104 And what of this latest undeclared short, with all the good news about, I know its all about hedging with against the loan but it is spooking me as to how it will reduce. sorry about the grammar.
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10/12/2019
18:12		whiskeyinthejar: The problem for Tullow with any of the usual ways of comparing oil companies is that enterprise value is used, so despite TLW share price falling, TLW still looks expensive compared to peers. I calculate TLW enterprise value as $3.6b ($848m market cap +net debt). PMO still has a lower enterprise value of $3.0b. So TLW is up for sale. But on face of it, I'd rather buy PMO for $3.0b than buy TLW for $3.6b because PMO is generating more than twice as much free cash. Similar story with reserves. TLW has much higher enterprise value than PMO, but similar reserves(2P, 2P+2C). So PMO still cheaper on reserves too. On outlook, Tullow board say (RNS), group production for 2020, AND following 3 years won't increase. That's 4 years, no increase. On NAV, Premier seems set to substantially upgrade reserves at Catcher, Tullow shareholders face a downgrade which will hit TLW share price again I think.
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03/12/2019
11:06		whiskeyinthejar: Lee- I wasn't saying gas was as valuable as oil. I said brokers say Big P is worth 3-4p per share. That's rather small compared to Catcher etc. But it's not negligible. In Permian,gas is already pretty worthless. Aging shale wells have already killed the gas price. They will pay you to take the gas off their hands. Negative prices. They are flaring more gas in Texas than many countries use. But that's not the same as Asia where there is a decent market for gas. Tolmount East was worth 8p per share, and it was priced in beforehand (risked) so the result was only worth about 2p. Was never going to move price. Gas and oil in the ground isn't so valuable, but Tolmount is actually rather material once we extract the gas. As PMO say, in Brookes' June presentation, it will pay back within a year, that's over $120m in a year and they say it will contribute over a billion dollars to coffers in lifetime of field. These numbers are at 60p/ therm. We are currently hedged in North Sea at 64p/ therm so that billion dollars is realistic. The date that Tolmount starts up is also therefore material. As far as oil is concerned, people I think are overlooking Catcher. Catcher is outperforming and is set for an upgrade at year end. This is flagged in new November presentation. Sanctioned reserves are based on a 30% recovery factor. But this very low for North Sea. One way of looking at it is if the recovery factor is doubled to 60%, it's like Premier adding a second Catcher field. However, 50% is figure Elizabeth Brookes mentions. But still a big deal. The share price sits where it does because that's what the market guesses is how much is left for shareholders after debt is paid off. Based on current valuation of assets if sold off. So Sea Lion etc sold off before development. Catcher barrels sold at $23 per boe (that's $1.1bn for 48 mmboe). Add on other production ( $0.9b) and add on tax losses, but set against this is $2bn debt and other costs and basically it all cancels out. This is core NAV and it's slightly negative (-$28m or -3p per share) at $70 brent. However, we have assets for appraisal and development. So Total risked core NAV is 140p ($70 Brent) or about 80p if Brent is at $60. This is why share price is where it is. And this is why share price is leveraged to poo. Someone was saying PMO is leveraged to poo because it has 'high beta' , but this is meaningless. It's like saying there's big waves on beach because they have high amplitude. It's not a reason. It's about valuation, how the market values oil companies (forget PE it ignores debt), how much cash the business generates at varying poo and the proportion on non -producing assets PMO has. We are leveraged because the value for shareholders (risked NAV) approximately doubles if poo goes from $60 to $70 and triples if it goes to $75. They can only do the reserves upgrade annually. There will be other additions, probably including another small add from Big-P. But Catcher upgrade alone should be transformational to the valuation of PMO, confidence in its ability to repay debt and mean refinancing debt next year is on better terms.
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15/4/2019
09:07		montevid: GS still manipulating the PMO share price with the other shorters. At $71 per barrel the PMO price should be clearly higher.
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19/2/2019
17:16		whiskeyinthejar: Marvin went on about all this before last trading update, and one before. The story goes that because share price isnt doing what we want, then shorters must be fraudulently being fed inside information by pmo. Have to say it doesn't follow. So what was this negative information in the last trading update, or prior one that insiders knew about before and retail didn't? Was it that debt targets are being met? Or was it that Catcher was over performing? I can't see that there has been anything that insiders could've been fed that was any use to them. Genel has a similar chart to PMO. It has similar risk on/off behavior too. It's share price also halved from last year's high to a low at end of December. Since then its share price has recovered, but has got stuck under £2 in same way pmo is has met resistance at 80p. Are Genel shareholders speculating they have insider traders controlling their share price? Ironically a former Genel director was done for insider trading, but i haven't seen any speculation on advfn that Genel CEO is engaging is criminal activity. Perhaps because Marvin doesn't post on Genel. This whole idea that one or two players can control the share price of a large company is bogus imo. In short term with deep pockets or high frequency trading an institution can push the price how it wants. But if wider market is moving in opposite direction all that happens is they'll lose money. Like a football being pushed into a swimming pool, shorting it down against buying pressure doesn't work. It's simple imo- if there's enough buyers in medium term the price goes up. Looking at chart, i think Pmo hit a double top at the beginning of January at 80p. We all know the Gann theory that double top signals a loss of confidence that share price is ready to go higher. And so it's proved, confidence had flagged. Other part of Gann theory though, is that the 4th try at breaking resistance level usually succeeds. Link as I guess many will say I made 4th time lucky theory up! hTtp://www.hubb.com/TradingTutors/Articles/2204/Fourth-Time-Lucky Gann published 286 of his trades in advance in a newspaper. About 90% of them came off. I don't think anyone on advfn can trade this well. Absolute legend. Anyway doesn't matter too much, 4th or 14th attempt, I can wait. However, I can't prove the fundamental reason why we failed to break 80p in January. But IIRC: - it coincided with brexit vote which May lost. The chat then was a general election was option and therefore the prospect of a Labor government more likely. Corbyn wouldn't be good for north sea or Sea Lion approval imo and uncertainty is always bad. Since then option of early general election seems to have faded. - it coincided with Times article. timing was bad as it came at 80p inflection point. - share price had risen by about a third in three weeks. That's a fair bit in a short period so bound to be profit taking - brent was only $60. I haven't done the numbers but UBS have and they calculate at $60, pmo is only worth 77p NAV with the upgrade to the Catcher FPSO. The other part of this is that UBS calculate that with Sea Lion approved, Zama, appraised and Brent at $80, NAV is £2.90!! So there's an arithmetic reason why we are so geared to oil price and why the share price halved. No need to resort to exotic theories then. Occam's Razor anyone? Anyway, I think it's a reasonable opinion to believe someone else could run pmo better. He's 60 this year, must be near retirement. More difficult to understand is why Marvin wants to fist him in the car park at Nandos though. But i think Durrant leaving right now would be disruptive, Durrant will have lot of business knowledge and several projects are at key stages. Also the company strategy is tied to the BOD rather just Durrant. It's not like a AiM oily where the CEO is key, bigger oil is more of team game imo. So him leaving won't change strategy and operationally, PMO are now performing well under Durrant. Anyway I think the pmo specific problem that weighs on the share price is their strategy. They have so many options to sell assets or grow in Mexico, North Sea, Falklands etc. that it looks like they lack a plan. Big thing then is getting FID on Sea Lion and outline plan on Zama. Zama development should be cheap as they only have 25% of cost and intend to use appraisal wells already drilled as producers, but lots of uncertainty about plans and whether Zama should sold etc Unfortunately no listed company will tie their hands by ruling out a placing.But I don't see need for pmo to sell Zama or do a placing unless oil sinks badly. I'd say the possibility of pmo selling off assets in a fire sale has actually weighed on share price in past. They wouldn't get a good price if they sold Zama or SL undeveloped. Seems unnecessary, because if similar performance to Q4 continues they should be able to pay down more debt from cash flow this year than they'd get for Zama. However, what I think they should do counts for nothing, but imo Premier needs to clarify their story. Then they can up the PR and can say to institutions invest in us because they have a clear plan and certainty of funding in place to implement plan. They can say 'we're going to make pots of cash in Sea Lion', instead of woolly current situation of final decision hasn't been made. It's also my personal preference not to invest in exploration or the wait between discovery and funding in place. However once you have funding sorted, I think you can make good money waiting for first oil and the project to be priced in. Anyway, I think more clarity will come in next update in March and there ought to be significantly more interest in PMO with FID for Sea Lion sorted. But I think to see real value here you'll need to wait another 2 years for first oil at SL and Zama, not 2 weeks. Sorry long post.
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15/2/2019
14:48		rbonnier: What has got to happen here for the pmo share price to recover to a more realistic valuation ? Oil price recovery hasnt worked so whats going to snap the elastic bid story in the sunday telegraph ?
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11/2/2019
10:50		montevid: GS is manipulating the PMO share price with its controlling CFD position of approx.6% as well as the shorters: Shorter - Current Percentage - Effective Date AHL PARTNERS LLP - 2% - 2019-02-06 WHITEBOX ADVISORS LLC - 1.11% - 2018-12-18
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30/1/2019
17:51		seangwhite: POO going up lifts the PMO share price as we all know. Any hint of a rights issue will knock it back. The BOD were slow to react to the last rumours and not very proactive on the promotion front with the institutions.Let's hope POO keeps going up as the current BOD's efforts are fairly hopeless as shown by the share price graph.
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