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
  1.81 6.78% 28.50 13,612,900 16:35:03
Bid Price Offer Price High Price Low Price Open Price
28.62 29.09 29.71 28.04 28.62
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1,194.92 77.29 15.01 1.8 239
Last Trade Time Trade Type Trade Size Trade Price Currency
18:15:32 O 18,660 28.50 GBX

Premier Oil (PMO) Latest News (1)

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Date Time Title Posts
01/6/202020:08Premier - Charts and All50,109
29/4/202010:45premier oil - 2018 and beyond61
12/7/201912:59pmo by end of 20191
07/5/201917:55Premier Oil -821

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Premier Oil (PMO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-06-01 17:16:2928.5018,6605,318.10O
2020-06-01 17:02:5229.0618,6605,422.04O
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Premier Oil (PMO) Top Chat Posts

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 26.69p.
Premier Oil Plc has a 4 week average price of 24p and a 12 week average price of 10.02p.
The 1 year high share price is 120.70p while the 1 year low share price is currently 10.02p.
There are currently 839,864,567 shares in issue and the average daily traded volume is 20,230,512 shares. The market capitalisation of Premier Oil Plc is £239,361,401.60.
andypop1: Whites, You really don't like ARCM do you. Continually posting unfounded groupthink comments like “they sought to trash the share price” without offering any proof or back up frankly stinks of you trying to blame them for your misfortune. Do you think the threat of the company raising up to $500m plus costs in the current climate and given the market capital is helping the share price? ARCM have not directly adjusted their short position since July last year, that is despite the share price ranging from 120p down to 10p, that should be a clear indicator to even the least experienced on here that the short is not influencing the share price and the hedge fund will let the insurance policy run until the monies owed are paid back at full face value. If, as you say, the short is not a hedge to protect ARCM’s exposure to the toxic debt against the company failing why have they taken it out? I sense a lot of anger in your posts, maybe you should channel that anger into research and come back with a little more than hope and dreams summed up by your favourite line suggesting PMO having something up their sleeve to deal with the pesky shorter! The BoDs have encouraged such entities with sweeteners, fees and enhanced interest rates at a time when the cost of borrowing is at a recent low. Good luck.
stansmith3: hopergiven you think poo coukd double by next year, what do expect from the pmo share price?(given the issues going on just now)
steve73: Seems to be lots of untruths (or let's be generous and call them misunderstandings) about ARCM's short position, and their objections to the RI/ER. It's my understanding (and this could also be flawed, so DYOR), that ARCM hold a substantial amount of PMO's Debt (not sure if as bonds or otherwise, but for the sake of this discussion I'm assuming it is as bonds, since they have a very visible "Value"). ARCM have also surreptitiously built up a significant short position over the past couple of years (suspiciously commencing about the same time that laurel and hardy started posting here), and only publicly announcing it to the market once they got to over 16% short (which was approximately the same "value" as their debt liability). It's difficult to be completely sure of how ARCM's short position developed, but by looking at how the stock-on-loan increased during the period Oct '18 (5.8%) to Oct '19 (29.1%) whilst the disclosed shorts remained at between 1-5% you could get some idea. (Note: the disclosed short positions were subsequently update in Dec '19 to more closely reflect the S-o-L figures which confirms the previous approximation.) Furthermore, by looking at the share price over this period, you can make an estimate of the average price. (I've not done a detailed calc. for this, but my mk1 eyeball puts it somewhere around, 80-90p. I recall others had made similar estimates when ARCM finally decided to "come-clean".) So now they have a short position bought at an average of say 85p (so well in the money at the current price, but this is offset by their debt holdings, which (assuming bonds) are currently worth just 60p in the pound. If we consider than PMO will either survive or doesn't then we can look at the 2 possible outcomes for ARCM. If PMO survives, then the debt gets repaid, and the shorts lose their value (but they will need to get repurchased, which will drive the share price considerably higher, although impossible to determine at what price they would average). If PMO fails, the debt has a reduced value (potentially with zero being recovered since the bonds are junior to other debt), but the short's become effectively "fully paid" immediately. Of course, failure COULD occur at any time whilst survival (for the purposes of this discussion) is when the debt is finally repaid, i.e. at some future point (12 months for the bonds, longer for other debt, but most likely about to be renegotiated - again). So IMHO ARCM would prefer the proposed refinancing fails, PMO defaults, and they can get "paid" immediately on their short position, rather than having to wait "even longer" for their debt to be repaid. This is why they have appealed against the court decision to allow the refinancing to proceed. Again IMHO, if the refinancing does proceed, then they should prefer there to be a larger equity raise (either placement or RI) at the current low share price, since it will allow them to offset their short much more cost effectively than if they were to have to buy on the open market. But either way, existing shareholders get screwed, which reflects the current low share price ... there's lots of risk discount currently built-in. I'm looking forward to hearing how others understand this situation (and no doubt will get severe criticism from potentially "interested" positions.) Fire away...
markymar: StanRome was not built in a day nor shall PMO share price but in time we will get there..It's a postive
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:// Are the shorters giving up?
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.
montevid: GS still manipulating the PMO share price with the other shorters. At $71 per barrel the PMO price should be clearly higher.
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:// 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.
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 ?
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
Premier Oil share price data is direct from the London Stock Exchange
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