This company will be ok , 85p only 4 weeks ago and 220p in Dec . Monday we be a good time to get in at a low point . That 200k buy and the other big buys look definitely not like a punt . We shall see next week . There is a few things to come over but that’s probably all company’s but one thing for sure it will not last for ever as markets go down then up.
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I think they wouldn’t go ahead with the deal12 Mar 2020 15:32
The acquisitions are to cost the company a combined USD820 million. A court hearing is scheduled to start Tuesday next week to decide whether or not to sanction the deal.
However, Asia Research & Capital Management, which is Premier's largest creditor but also has a 17% short position on Premier's shares, has - not for the first time - called on the firm to abandon the acquisitions to focus on its balance sheet and cash flow.
"As per ARCM's previous statements, we believe Premier Oil should be focusing on its cash flow position and protecting the balance sheet as a matter of priority," the lender said.