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
  +1.70p +2.30% 75.55p 75.10p 75.30p 75.80p 73.75p 74.45p 4,984,703 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 796.4 -316.3 19.4 4.4 579.53

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Date Time Title Posts
23/2/201822:23Premier - Charts and All36,052
03/2/201811:45PMO the catcher wave1
21/11/201710:35Premier Oil100
20/12/201607:53L2 - Observations, comments and screenshots50
16/5/201614:06PREMIER OIL BOILING UP1,163

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Premier Oil (PMO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-02-23 17:09:1575.555,0003,777.50O
2018-02-23 16:53:0374.814,1003,067.23O
2018-02-23 16:52:1374.918,8006,591.98O
2018-02-23 16:51:5274.7818,90014,132.80O
2018-02-23 16:35:2175.55174,989132,204.19UT
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Premier Oil (PMO) Top Chat Posts

DateSubject
23/2/2018
08:20
Premier Oil Daily Update: Premier Oil is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PMO. The last closing price for Premier Oil was 73.85p.
Premier Oil has a 4 week average price of 68.10p and a 12 week average price of 68.10p.
The 1 year high share price is 104p while the 1 year low share price is currently 42.75p.
There are currently 767,080,382 shares in issue and the average daily traded volume is 4,627,285 shares. The market capitalisation of Premier Oil is £579,529,228.60.
22/2/2018
19:23
marvin9: Its come to my attention that more and more small time mugged investors are making allegations that PMO share price has being manipulated for the last 18 months. This is nothing more than a conspiracy as quoted by Jabba and Lizard lips.
17/2/2018
21:52
marvin9: And u will be top of the list for stating PMO share price is 'NOT' being manipulated! ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF RF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF RF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF ARF! ;@) Pigs in a trough!
16/2/2018
10:48
badger60: A huge increase in free-float shares added to a bit of manipulation and general oil volatility/sentiment explains much of the limp PMO share price performance. The CB's no longer have a stranglehold over the share price, so once the free-float is absorbed, hopefully the real value with be reflected. The priority is to pay down the debt, and a meaningful reduction this year towards the $2bn mark would give the share price a huge shot in the arm, imo, as a circa £500mio mkt cap is way too cheap.
03/2/2018
21:12
rationaleee: adg- Well said. The downturn has been horrible for the industry. This can be seen from the recent behaviour of the E&Ps, even after 2 years of oil price crash. Today most of the oil producing companies like PMO, TLW, ENQ have become very risk averse. What I mean is that these E&Ps are too scared of the oil price volatility (and who can blame them!). Wounds from the recent oil price crash are still fresh in their minds, which has forced them to protect the oil price downside by hedging substantially more than what they did during the pre-crash period. This becomes clear when we compare PMOs Jan 2018 Trading update with the update in Jan 2013. For 2018, PMO has hedged 40% of its oil production at less than $60/bbl. Compare that with Jan 2013 when PMO hedged around 17% of its production for 2013 at $105/bbl. In 2013, by hedging at $105/bbl PMO was trying to maximise the oil price upside by hedging less (17% of production) as they expected oil price could be higher than $105/bbl, while in 2018 its trying to maximise the downside protection by hedging the most (40% of production) as oil prices could drop below $59/bbl. And same thing is seen across industry at TLW, ENQ, etc. That is why IMO we will see limited upside on most of these E&Ps share prices this year even if oil price rockets above $80/bbl as majority of them have already hedged a lot of their production at much lower prices than say $80/bbl for 2018. So the benefit of higher oil prices will be limited in 2018 in most hedged E&Ps in UK. When they start hedging less, say in 2019 or beyond, that's when the real benefit of an increase in oil price will start to filter through. So the current share price performance of most of these E&Ps is reflective of their limited upside in 2018 irrespective of the higher oil prices, unless obviously oil sentiment flips(on some geopolitical event) to "buy the E&Ps first and then ask questions". GLA
17/1/2018
19:47
rationaleee: A lot of PIs who sold out are sitting on the sidelines, desperate to jump back in and get in at a lower price, just for a reward of a few extra shares. They have watched PMO share price manipulated time and time again over the past 1-2 years and roughly know how the manipulation works. What they seem to be forgetting is that this will be the last time we will all be witnessing the dreaded manipulation that we all have come to love/loathe. There won't be anymore manipulation/suppression that we have seen time and time again, once this showdown finishes. So good luck to those PIs who'd be staring at the share price 8am-4.30pm over the next few days trying to time it. With every passing day the oil price rising and Catcher moving closer to plateau, this would be fun to watch irrespective of the share price move, esp. for the HF guys who have all along shorted it and have just flipped on to the other side. Market has demonstrated time and time again, majority of those PIs waiting on the sidelines, would be left on the sidelines waiting for their entry price, which would never come as any price they would get would still not be low enough. Just like KAZ at £1.80s, GLEN at £0.80s, FXPO at £0.30s, AAL at £4s, where we had a lot of PIs complaining that the price was not low enough to buy in as compared to where it was few weeks/months ago in Q1 2016. History doesn't repeat itself, but it sure does rhymes. Btw KAZ had a net debt equivalent to PMO ($2.8bn) when it was in £1.50s or priced in c.£500mn market cap in 2016, and currently its net debt is still not significantly different from that of PMOs even with the FCF, although its market cap is around £4bn. Just some food for thought around leveraged cos. in commodoties space.
13/1/2018
20:39
rationaleee: IMO the way to look at this whole conversion induced dilution is by comparing the fully diluted market cap of Pmo with the closest peer we have, and assume the market values a mid-cap oil company fairly given where oil prices are. Its important to compare with a peer stock which does not have distorted trading going on in the background as PMO does. This will give us an understanding of how the market is valuing a peer at the current oil prices of c.$70 and how it would value PMO when all the shorting HFs have left and the total shares in issue are c.800mn. The closest peer that comes to mind is ENQ, not TLW obviously because of the quality of their reserves/assets and margins. PMO and ENQ both operate primarily in the UK so lets assume similar opex, margins, country risk, etc. Production assumed at 85kbd vs 65kbd, which could be evened out by debt of $2.7bn vs $2bn for PMO & ENQ respectively. So given the current market sentiment and oil price of $70, ENQ is being valued at £470mn for its c.60-65kbd production, $2bn debt and any Kraken specific risks. While PMO is being valued at £501mn @ 525mn shares with the news of conversion out in the market, and if we assume market values a company fairly, the diluted market cap PMO currently has is £760mn @ an assumed c.800mn shares in issue. So at oil prices of $70 the current market value difference between PMO and ENQ is £760mn-£470mn = £290mn as of today. So for PMO we can assume the additional £290mn attributed to our marketcap post dilution is essentailly valuing the difference between PMO and ENQ, such as higher production of 20kbd, $465mn of additional debt (post conversion and removing $235mn debt), Zama, Tolmount, Sea Lion, Tuna, etc. So I think if PMO share price goes down from the current level of say 95p, this premium of £290mn in our market cap over ENQ, that values everything PMO has that ENQ doesn't, should go down in tandem with oil prices. But if oil prices stay where they are or go up and ENQ valuation goes up with it, the valuation gap between PMO and ENQ will increase a lot more if PMO share price stays flat or goes down due to this dilution priced-in/ not-priced in confusion. i.e PMO gets more undervalued for what it has due to this CB conversion confusion. This presents a buying opportunity to anyone who does not want to second guess the market. If you think PMO share price will go down even if oil price stays flat or goes up, IMO that will be a brilliant buying opportunity and I would definitely be buying in more, as PMO will be falling behind ENQs fair valuation proxy as described above. Or we could sell right now and book profits in the hope of buying in cheaper(+ stamp duty payment again grr!) which may or may not happen depending on oil prices. IMO buying back cheaper is more risky right now as you'd have the dillemma of knowing when to buy in as it could keep falling or if you don't buy, it could start rising, especially when we know how fast PMO rises when the tide turns. Based on a lot of PIs experience PMO can let you sell your stock easily but does not allow you to get back in the stock that easily or cheaply when the tide changes. Honestly, too much hassle for a patient investor but obviously not for traders. For traders anything mentioned above is irrelavant and they will obviously do whats best for the short term, as they are used to second guessing the market and speculating rather than investing. Obviously above mentioned are just my thoughts and could be wrong on the whole thing described above, so DYOR. But I'd be keen to hear what other members on this board think especially Steve, bakedbean, etc. on the above whole dilution aspect? Thanks
12/1/2018
08:55
steve73: prewar, The way I understand the CBH shorting is as follows: The CBH takes a short for every potential share he can convert to. If the share price rises the short looses value, but the bond (once converted to a share) gains by the same amount... So he's NET even. He must pay to borrow the stock, but this is probably offset by the interest he gets (enhanced if he's getting cheap stock rather than cash). If the share price drops below CP, the short gains value whilst the bond value is retained at it's maturity value. So potentially he makes a profit. Clearly with the share price rising there is now little benefit in holding a balancing short, but if it's not actually costing him anything then why not keep holding? If the CBH is NOT shorting, then as the share price rises, the CB's potential value when converted is rising. But in the meantime it's earning a little interest, so there's little incentive to convert early UNLESS the cash is required elsewhere. So with a rising share price there is still little benefit in converting and selling unless the holders have other (better) investment opportunities. In both cases there's an incentive to keep holding on the off-chance that the oil price crashes (or some other negative event occurs), another refinancing becomes necessary, and perhaps the CBHs can renegotiate an even lower conversion price. It certainly worked well for them last time in renegotiating from $7 to $0.9174 so allowing them to accumulate more than 7x as much equity. IMO, the possibility that we'll fail our covenant tests and need yet another refinancing are rapidly diminishing, but of course there's always the chance of a black swan.. On balance, it's probably better to remain unconverted, so Tony has dangled a carrot to try to persuade them to convert early. FWIW, similar logic applies for the warrants. Better to leave them unexercised until the latest possible date. Each one is effectively valued at one share but available at a discount.. Why spend the cash to convert now when you can get the same benefit at the same cost by converting later. Of course, if the share price looks like it'll drop for a sustained period then we may see a lot more conversions according. At least this is how I see the situation... NAI, DYOR etc.
27/12/2017
11:52
marvin9: Your missing the point for your own agenda! The only reason the share price is hanging onto very small gains is due to the lucky oil price hike. If the oil price had fallen your charts would mean nothing and the share price would have crashed below your farts support level; that's a fact! Your statement that the share price trend is up, is truly misleading; it all depends on the oil price and nothing to do with the performance of PMO, due to corrupt manipulation of the share price , historically. If oil dropped $3-$4 then PMO would struggle to hold onto 65p TLW £2.05 PMO 78P LOL GET REAL! The share price should be at least £1.30 now!
15/12/2017
08:41
marvin9: AI, as said, your trading range is all fine unless the oil price falls or Catcher fails to come on stream. then we will be back in the 40p region in a flash. Amazing how the oil price keeps rising and the PMO share price stands still, utter manipulated corruption with the backing of puppet Durrant. Sack the clueless fat lazy fool now and employ a carrot!
01/12/2017
08:42
begorrah88: Guess what? More of the same yet again Brent well over $63 but once again the small AT sells come out to wipe 1.5p off the PMO share price. Nothing from the CEO though - no surprise, no concern just perhaps a little chuckle to himself as he laughs at his shareholders.
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