Member Info for Givingthelowdown

https://www.fool.co.uk/investing/2019/08/22/does-the-premier-oil-share-price-make-it-a-bargain/

Good luck with that one

good luck with the short DBNO

surely we would be trading at 70p without this with oil sluggish, so i'm a happy bunny

Operational highlights

· Production of 84.1 kboepd (2018 1H: 76.2 kboepd), a record for 1H

· Catcher Area high plateau rates of 70 kboepd (gross) maintained, operating efficiency of 99%

· Tolmount project on schedule and under budget

· Zama gross resource upgraded to 810 mmboe (P50) following successful appraisal

· Attractive acreage captured: Andaman Sea position increased, entry into a high-impact appraisal project in Alaska

· Climate Change Committee established; review of all operations to reduce emissions initiated



Financial highlights

· Profit after tax of US$121 million (2018 1H: US$98 million)

· EBITDAX of US$680 million (2018 1H: US$488 million, adjusted for impact of IFRS 16)

· Opex of US$10/boe plus lease costs of US$6/boe

· Cash margins 35% higher than 2018 1H

· Free cash flow of US$182 million (2018 1H: US$90 million cash outflow)

· Net debt reduced to US$2.15 billion (31 December 2018: US$2.33 billion)



2019 Outlook

· Production (75-80 kboepd) and expenditure (US$12/boe opex, US$340 million capex) guidance unchanged

· Over 40% of 2019 2H oil production hedged at US$69/bbl

· First gas from Bison, Iguana and Gajah-Puteri (BIG-P) gas fields expected end Q4

· Tolmount East appraisal well results due early Q4

· Sea Lion Phase 1: discussions with senior lenders progressing, farm down process launched

· Formal Zama sale process initiated

· Forecast full year net debt reduction of over US$300 million reiterated (excluding any potential disposal proceeds)

Forecast on Copper doesnt look good either

Im interested in Kaz at sub 300p

Brent should be touching that 61.5 come EIA tomorrow afternoon, should see us at 74p

I’m holding , there are times to trade this share and take a couple of % , other times when you just hold and watch the daily increases , I want at least mid 80’s before I even think about selling , sure there might be a trading opp on results day but it’s a gamble

I kinda agree with you SK, i think we will still have some growth in SP between now and 2nd half of 2020), but the writings on the wall after that, so we really need to see debt under 1.5BN by 2nd half 2020, ideally £1bn (but cant see that realistically), so selling Zama would make a lot of sense to achieve this

Its only Dnob who quotes WTI, everyone else knows it follows Brent

DBNO will abandon the ‘world is about it end’ rhetoric now , now it’s back to ‘be careful’ cos he is a stooge , and a lousy one at that

I think we can rule out brent cascading to 54 , instead a double bottom looks like order of the day so PMO fall is done ....IMO ....indices turning the corner as well

The current SP completely ignores fundamentals, i.e debt is being reduced rapidly, strong business going forwards etc etc....ive learnt that thing to do when you are deep in the do do is just look the other way, its the constant watching every minute and the false dawns that turns us into an emotional wreck and we press the sell button, and then it flies up and we curse ourselves for not seeing clearly...this could have bottomed, might go 63, 61 or 59, cant see lower, can see 80's again and soon.....just forget abaaat it

could be 1 way ticket to heaven from here

.....is this board is super busy with PMO chat...usually a good sign ;0)

When I bought at 74 p I thought this was great value , never mind, just have to hold on to them and wait it out .....again

I will be happy with 76p tomorrow

BTFATH 1 ...you may regret this ......

super stuff