The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I’ve been holding this for 3 years now and it never stays in the 80s or 90s long. So much time in the 60s and 70s, but once that’s gone it zooms through. Wouldn’t be surprised to see 104p or 109p in the next few months.
They beat estimates from the street. Their rise is not to do with Zama news.
This company is trading at a fraction of its real value on almost any metric. Don’t know why a decent rise after some resistance was broken requires imminent news, but let’s see. Don’t expect Zama news for another 2-3 weeks.
And production dropped, although those numbers don’t mean so much anymore. Bullish report for sure.
Taken from an upstreamonline.com article about the drilling of the Tolmount East exploration well (spudding in about 4 months): Werner Riding, an analyst at Peel Hunt, told Upstream that Tolmount and the resource upside in the surrounding acreage was a “very important part of Premier’s future and will help maintain deleveraging efforts from 2021”. “This was an asset that came as part of the E.On E&P UK package three years ago, which now looks like an amazing deal having already comfortably paid back and delivered value well in excess of the headline consideration of $120 million,” he said. On Tolmount East, Riding said the current unrisked net asset value implies $110 million of value on successful appraisal/development for a currently modelled volume of 220 Bcf. He added: “Our valuation assumes first production in 2023 and so the closer you move towards first gas the discounted value can be expected to increase up to a peak value of circa $350 million in 2024 showing the upside available subject to successful appraisal and a timely development.”
Apache - Beryl & Forties area - Apache reportedly selling North Sea assets Apache is believed to be farming out its North Sea business to focus on the US, according to press reports from March 2019. Apache owns 60.56% of the Beryl Field in Quad 9, and operates satellite fields including Buckland, Ness, Nevis and Skene, Callater and Garten. The Storr discovery is expected to be tied in H2 2019, with Seagull (Neptune Op) & Corona discoveries scheduled for appraisal and development. Apache also has identified additional prospects similar to Garten on trend. Apache owns 97.14% of the Forties Field, located in Quads 21 and 22, with nearby production from Aviat, Nelson, and Bacchus. North Sea total production was at 63,321 MMboe/d in Q4 2018 with operating costs at US$ 42/bo. Apache plans to drill 11 wells in Beryl area (including a second Garten well) and six in the Forties area in 2019. In 2014 Apache was looking to divest its North Sea "non-core" assets.
Just to point out in case people haven’t realised, you can watch a replay of the webcast for end of year results (where that transcript has come from) on PMO’s website.
https://www.upstreamonline.com/live/1723440/premier-turns-from-laggard-to-leader-in-uk-north-sea
Massive drop in reserves as FI taken out, let’s hope the market doesn’t overreact to that.
Isn’t tomorrow just full year 2018 results? If so, unless they mention it in passing, we won’t get an update on current debt. Looking forward to hearing about Catcher reserves. Hoping they’ve been bumped up a bit. Can’t really believe with Catcher online at over 65 kbopd this is still stuck in the 70s.
Not x2.5, x2.8.
No worries. Don’t know if this is new info, but the slide deck also listed Zama as 180,000 kbopd production, which struck me as higher than previous estimates, but I may be wrong. Even with only a quarter that’s 45 kbopd net to PMO.
Representative from PMO just presented at a conference I’m at. DST should be kicking off in approximately two weeks with results expected in April.
Don’t think there’s a hold up, it’s probably wrapping up or close to. I expect some news in the next 10 days.
Holding for 5 years and you sell now? Seems quite an oddly insignificant time to go. Anyway, good luck with your future investments, I’m sure we all (well, most anyway) hope you’re wrong.
Stupid question, but wouldn’t that require insider knowledge and therefore be illegal Plebeens? I know they’re not afraid of shady dealings, but wouldn’t that sort of stuff be really obvious after the details emerge?
Unlikely.
Got to clear up a little bit of misinformation here. Pemex are, at present, only drilling one well in the coming months. It’ll be called Asab-1 and will spudded on or around the 28th Feb by the the Opus Tiger 1 drillship. After the current Zama-2 sidetrack, Talos will drill another well on our block further south. Between this and the Pemex will, that will take the total number of wells on the field to 4.
Shows you how often expectation is scewed to the upside.
Was it a great update? Seemed okay to me I guess. Now BP, there’s an update that the market has really liked.