Member Info for Auson

The market could have priced in ( mostly ) the production rise that was mentioned by Saudi and Russia. I think they will maintain the status quo with a commitment to replace any lost barrels from Iran or Venezuela. I think we could see a few dollars rise on confirmation of Iran sanctions and a spike when Venezuela finally defaults.

Krakenoil, Let hope so, where do you see POO going today ? Looks like it could consolidating into an ever tighter range.

January, I think it most likely OPEC will maintain the cuts with an assurance that they will increase to replace any likely supply outages from Iran or Venezuela. I think Saudi and Russias statement was not just for Trump but they wanted to avoid $100 oil which looked like it was fast approaching. I think they are happy with $80 + or - $10 For a gold miner have you looked at CEY ?

Krakenoil, Your right there its all fear and greed and at the moment we are clearly in the fear zone. I think its the uncertainty regarding 20% Kraken sale ? Bumi sign off ? FCF ? Net debt ? To many unknowns for a correct market pricing. Hence �377m Mcap for 59k bpd to Premiers �864m for 85k bpd

Shhhh don't tell the market we've currently only got a �377 million Mcap.. So they'll all be pilling in soon and we can't have that.

How do you know where the stop losses are ?

Macrock59, Does anyone else think its possible that the double 14490000 trades might have been an off book buy/ sell pairing or do we think they were one buy split into two ?

hydraides, Thanks for that mate can you give me some advice on my Zinc media shares now please ? I'm also looking at Debenhams again too any thoughts ? Perhaps we could start paying you for your spot on analysis.

Not looking good. POO could spike just as we get another taker offload. https://oilprice.com/Latest-Energy-News/World-News/24-Million-Barrel-Backlog-And-Counting-PDVSAs-Fate-Looks-Bleak.html

Thanks Matrix, It says on marine traffic Kraken Oil Field ETA 8/06/18 is that correct ?

Wassatt, Hope your feeling better soon chap, all you can do is keep a positive mental state to give your body the best chance of healing. Oh and keep a very close and watchful eye on the doctors and your treatments ( and an even closer eye on any of the hot nurses.)

I would also add that the shareprice is not the best guage of how the CEO is performing. Production, FCF and net debt are.

Squif, Again your talking complete nonsense there, As I stated before from the trade data over the last 5 days there has been more buying than selling, moreover a lot of the buys were large ( so not PI driven ) 'The street' as you refer to, aside from the fact we don't have a 'wall street' thats in the US we have 'the city' knows nothing and its the uncertainty ( and Kraken shutdown ) that has driven the SP decline. Interestingly I remember there were so many 'bashers' over on PMO for months and months especially when it hit the 40s were you one of them ?

I was referring to the movements on the one month chart which included the drop after the update. Premier has done slightly better on that time frame. Over 3 years PMO -33.78% ENQ -37.98%

chilting, How could they release a statement that would be factually correct when they would have no way of tracing what happens to the Kraken oil once its sold ?

Total BS have a look at the PMO chart next to ENQ chart and Shell too while your at it. All follow the same pattern the only difference is Enquest dropped more after the update. Kraken heavy is more difficult to extract and with Enquest heavily North Sea focused and with half the Mcap of PMO the share price is bound to be more volatile. The total number of buys in the last 5 trading days is 27.98 million vs 23.3 million sells. There is no big sell off going on so I'm not worried.

ShinFalls, I think its the uncertainty regarding Bumi sign off FCF and current Net Debt. If sign off is this month it will be one down two to go. It would be good timing if we get the sign off just as Brent goes back to $80

epiphany121, Looks like an absolute bargain with Brent at $76. They were asking at some points 32.3 yesterday with Brent holding firm at $74. The dollars down a little bit from yesterday but nothing to write home about. INMHO the share price should be 10p higher

Matrix, I don't think they are hoping for bad news its purely POO related ( they are in touch with OPEC ) and would have known about the production cuts statement. 9.8% is still pretty high for PMO with all the good news and the SP rally they've enjoyed.

Matrix, I'm not surprised about that and hopefully it helps explain the SP weakness. At least they are already n the money so could close at any time and when they decide the need to close in a hurry it will give us a nice boost. Cairn is at 6.43%