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A very strong company with depressed SP that got stuck between boris's Brexit and Corbyn's renationalisation.
Premier has hedged 43 per cent of its second half 2019 oil entitlement volumes at $69/bbl and 14 per cent of its 2020 oil entitlement volumes at $66/bbl.
"We have delivered a strong first half. I am particularly pleased with the continued high operating efficiency from our producing portfolio which has enabled us to reduce our debt by $180 million. This puts us in good stead to meet our debt reduction target for the full year, which remains a top priority for the Group. In addition, we have retained significant optionality with our future developments and an extremely attractive exploration portfolio which together offer substantial upside exposure."
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https://www.ft.com/content/2b5826ea-97f2-11e9-8cfb-30c211dcd229
Petrofac surged on reports that the Serious Fraud Office had dropped a criminal investigation into three businessmen who had been accused of conspiring to make corrupt payments to secure contracts in Iraq. The SFO launched an investigation into Petrofac in May 2017 as part of a wider probe into Unaoil, a Monaco-based oil consultancy.
https://www.ft.com/content/2b5826ea-97f2-11e9-8cfb-30c211dcd229
I'll buy back when all today's doom mongers lose their money and go bankrupt
Cash and cash equivalents down from 600m to 236m
Debt is 300m
Of 300m carried forward compared to 14m cash last year.
Ladies and gentlemen, your rmg flight is about to take off. please fasten your seatbelts and enjoy the flight. Gla
I was browsing about nationalisation. A link here
http://moneygrower.co.uk/2017/05/how-would-labour-nationalise-national-grid-energy-rail-mail-and-water-industries/
Premier and Rockhopper tend to stick together performance wise although the former would tell you that it has many more strings to its bow than just Sea Lion. Having said that the Falklands may be crucial to RKH but for longer term developments is is almost as crucial to Premier. The best way to play it may be through RKH though and Premier is always being linked with fancy asset purchases it can’t afford…
https://www.malcysblog.com/2019/02/the-bucket-list-update/
Volume Sold 637k shares; volume bought 3.55m. Sp increased 0.26%. Shorters need to sell more to match the buys to hold the sp flat?