Member Info for Givingthelowdown

What concerns me is that many oil producer in the west are now proiftable at 45 dollars per barrel, some as low as 20's -30's, where it used to be more like 60/65 (i think), as a result OPEC have got a job on their hands keeping oil in the 60's/ 70's without giving up market share.

Problem with Shale and Permian Basin is they need huge quantities of water and they are running out of the stuff.

Problem with Shale and Premian Basin is they need huge quantities of water and they are running out of the stuff.

Imminent Chevron announcement written all over it , pump n dump

Dodger, I respect you because you are an innovator, but 90's really??? oil about to fall through the floor, surely?

I doubt it Anituga

Could test late 68's in next 24 hours, not sure it will do much to this SP though, the Chevron cloud will see to that.

But the 50 MA hasn't crossed 200, on the bullish side on the DOW all we have is the last 1 hour candle, also 25277 is flimsy support structurally, just the MA keeping it there, nah ! shit week coming...IMO

What happened? Did the men in white coats come for him? maybe aliens?

65.4 GivingTheLowDown
68.0p Smut
76.3p Yanbu-arabia
79.75p MrEMC2
79.9p Ohmetoe
82.0p outofideas
90.0p Hawkeye
84.0p loofer

Check out 13-20 November on Brent, same sequence followed by big red

Dragonflies are great if the previous bars are red, previous 4 day bars are green, so Im not reading to much into it as a directional indicator,

Was

Hope you were listening , it’s gone up more than 10 % in the past 15 mins!!!!

Horrendous! good old trade wars

Personal equity , typing on phone

Only higher Inflation can boost indices etc , think 1970’s , it will come , it has to to eradicate debt mountains , but it will be preceded by big crash , all the banks future money is in the form of personality equity and assets , they will get their hands on a lot of it in the next 18 months

Help me, my ave 33p, bottoming today unless my name is Sharon

Debt the same (2.3bn), no mention of Chevron (still a cloud), debt reduction forecast for 2019, 250m -350m (assuming oil price 60's-70's)

“2018 saw higher production, positive free cash flow and a return to profitability. The Group is ahead of plans to restore balance sheet strength and remains focused on consistently delivering free cash flows. Growth projects such as Tolmount, Zama and Sea Lion, together with promising exploration in Mexico and Indonesia, are being advanced within a disciplined financial framework.”

2018 Operational highlights

Record production of 80.5 kboepd (2017: 75.0 kboepd)
Catcher oil plateau rates increased to 66 kbopd (gross)
Tolmount Main (UK) gas project sanctioned; estimated peak production of 58 kboepd (gross)
Highly prospective new licences secured offshore Mexico and Indonesia
US$73.4 million of cash receipts from non-core asset disposals
2018 Financial highlights

US$133.4 million post tax profit (2017: post tax loss of US$253.8 million)
EBITDAX increased to US$882.3 million, up 50% (2017: US$589.7 million)
Cash flows from operations of US$777.2 million, up 64% (2017: US$475.3 million)
Opex of US$10/boe with additional lease costs of US$7/boe; low cost base maintained
Total capex (development, exploration and abandonment) of US$353 million, below forecast
US$181 million debt reduction from accelerated conversion of convertible bonds
Year-end net debt of US$2.3 billion, down US$393 million (2017: US$2.7 billion)
Covenant leverage ratio reduced to 3.1x (2017: 6.0x)
2019 Outlook

Production guidance of 75 kboepd, a 5% increase after disposals; 89 kboepd year to date
Cash margins expected to be 30% higher at comparable commodity pricing
Opex (excluding lease costs) and capex guidance of US$13/boe and US$340 million, respectively
Project sanction of Catcher Area additions (Catcher North and Laverda) anticipated 1H
Zama, Tolmount East appraisal programmes to complete Q3
Formal loan application for Sea Lion funding to be submitted in Q2
Material free cash flow, driving further debt reduction of US$250 million to US$350 million
ENQUIRIES

Premier Oil plc
Tony Durrant
Richard Rose
Tel: + 44 (0)20 7730 1111

Camarco
Billy Clegg
Georgia Edmonds
Tel: + 44 (0)20 3757 4980

A presentation to analysts will be held at 9.30am today at the offices of Premier Oil, 23 Lower Belgrave Street, London SW1W 0NR and will be webcast live on the company’s website at www.premier-oil.com. A copy of this announcement is available for download from our website at www.premier-oil.com.

To view the full statement, please click the link below:
2018 Full Year Results