Member Info for Bladesman

I think. Gla.

Nice trend. Let's hope this continues and develops momentum

Are encouraging. Not PI, s I would have thought. Shorts beginning to close?

Of shorts closing??

35m volume today. Good sign!

35m volume today. Good sign!

Well soon see. I hope you're right LC.

“Given duration of outage, we suspect equity performance (of Oil Companies) may be short-lived as investors continue to focus on imbalances in 2020 crude fundamentals.”
Quote from Bloomberg article on how the oil outage will impact on oil sector SP. .

https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2019/09/14/oil-could-rise-10-per-barrel-after-drone-attack-forces-saudi-to-cut-output.html?amp_js_v=a2&_gsa=1&usqp=mq331AQEKAFwAQ%3D%3D#aoh=15685293979891&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.cnbc.com%2F2019%2F09%2F14%2Foil-could-rise-10-per-barrel-after-drone-attack-forces-saudi-to-cut-output.html

You can be sure the results will be announced on a day when POO tanks, or Trump tweets something to spook the markets , or both, just so any rise in PMO SP is nullified !

Ultimately the pmo sp is linked to poo despite improving fundamentals. Therefore the shorts are holding out and gambling on an oil surplus and poo either staying down or more likely going down from here.

please add for PMO specifics
1. re fi next year
2. and poss return to divi

Should have read PR machine. Apols.

It gives the facts more credibility and gets the message across to opinion formers. Part of the or machine spreading the word among those who can a make difference

FT article, here you go

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https://www.ft.com/content/042e9cce-c4a8-11e9-a8e9-296ca66511c9

Premier Oil is selling its stake in a “world class” project off the coast of Mexico and wants to reduce its holding in a long-awaited scheme north of the Falkland Islands as it tries to lighten its $2bn debt burden.

The UK-listed independent oil explorer said on Thursday it had kicked off formal sales processes for both assets and had already held talks with some interested parties in the hope it can secure agreements by the end of the year, although completion of any deal would take longer.

The company wants to sell its entire holding of roughly 15 per cent in the vast Zama discovery, made in 2017 in shallow waters in the Gulf of Mexico, after earlier this year raising its estimate of resources that could potentially be recovered from the discovery to between 670m and 970m barrels of oil equivalent.

Mark Wilson, an analyst at Jefferies, has estimated the Zama stake could fetch more than $430m.

Looking forward to a good day again today.

Hammering depends on how far pmo, s standing has come up in the markets sentiment

Hmmm, profit takers selling into the hands of the shorters who need to quickly close their postilions as the SP is going up. So, alls well . GLA !

The change is the change in strategy .I believe the BOD have told TD that reducing risk and paying down debt with sales of LT assets (Zama) is the key change. It has moved sentiment towards PMO now being an investable company and which is now treading the boards in the US for new investors to buy into . That old message (paying down debt over a v long period whilst being vulnerable to volatile oil price) would not have worked or built confidence. Also, this strategy helps us get to the point of restoring the dividend much earlier which is the big prize.

Brent crude hits new five-week high
Brent reached a five-week high yesterday, with fears over a shift in strategy from Saudi Arabia being allayed after early comments from the new energy minister.

The four-hour chart highlights a trendline break off the back of this rise out of a consolidation zone. However, it is also worthwhile noting the wider downtrend remains intact, with the 76.4% Fibonacci retracement at $63.15 a key resistance level up ahead. For now, the short-term bullish theme looks like it could continue, with the reaction to that Fibonacci level likely to prove telling. On the flip side, we would need to see a break below $61.32 and $59.23 to bring the bearish picture back into play.