Member Info for Goodmann

The shareholders will now buy in at a discounted price to drive the share price over 30s again whilst the Pi suffered great losses.

On the positive side the bottom is at 22p, which gives more confidence to reinvest and hopefully make up for the losses.

Good luck today

Interesting point Antigua,

Could they be legally challenged in court for all the money we lost due to this, whilst the larger investors had inside information.

AK, thanks for sharing this. Seem like the SP tanked at 21.32p. We witnessed some share purchases end of last week and there more room to go up than down. Crude oil is update today and it may continue rise due to hurricane season reducing the oil production by 13% and gas by 4%

Companies shut in 13% of oil production, 4.4% of gas as storms hit US Gulf of Mexico

https://www.hellenicshippingnews.com/companies-shut-in-13-of-oil-production-4-4-of-gas-as-storms-hit-us-gulf-of-mexico/

Something very odd about PMO published results without providing a RI nearer to the time. Lots of investors lots a lot of money due to this.
I am not usually a conspiracists but I am beginning to think that someone is going to make a big raise because of all this!

Artical below is from was published by Alliance News on 5 June. PMO issued 82.2 million shares to Asia Research Capital at a price of 26.69 pence each. Could the above share price help establish RI?

One of the creditor agreements is a stable platform agreement with a subset of creditors representing 40% of its debt facilities to waive Premier's financial covenants and provide continued facility access. Once terms are agreed, Premier will seek formal support from its wider lending group for the agreement.
In addition, Premier has reached an agreement with Asia Research Capital Management for the creditor to withdraw its appeal of the court's judgement approving the scheme required for the facilities extension and the BP asset purchase.
In return, Premier Oil will issue 82.2 million shares to Asia Research Capital at a price of 26.69 pence each, which will raise USD27.5 million, the proceeds of which will be used to partly fund the acquisitions. Asia Research Capital will use the new shares to reduce its current short position, last reported being 17%.

FunkySausage,

Totally negative man, think this is heading under 20s

Looking good so far, buy and hold... will be on the blue today...

All I have to say is no panic selling today and watch the SP increase. A lot of people playing on the fear of others to reduce the SP. A higher share price means less new share would need to be issued. And may a buy back is not a bad idea.

Wouldn’t a higher SP mean that PMO will need to issue less new share to raise funds and a lower price would actually increase the number new shares issued... so the a higher SP is good for investors before the Introduction new shares. We all need to help increase to SP and then less will be issued by PMO.

Buy what we also need to take in account is the fact that Oil production will increase from 67bpd to 110dpd, that’s over 40% increase in Oil production.. the future SP should move higher than the past.

They need to raise £246mln and I think yesterday SP drop already compensated for any additional shares being added.

The company is not doing as bad as some larger oil companies who lots £10s of billions. PMO will be cash neutral by end of the year and that’s really good in current climate. There will be good earnings in 2021.

Invested shouldn't panic sell as it’s not helping anyone. Now it’s time to invest and move the SP up and make money.

They need to raise £246mln and I think yesterday SP drop already compensated for any additional shares being added.

The company is doing as bad as some larger oil companies who lots £10s of billions. PMO will be cash neutral by end of the year and that’s really good in current climate. There will be good earnings in 2021.

Invested shouldn't panic sell as it’s not helping anyone. Now it’s time to invest and move the SP up and make money.

It may fall (Hopefully not lower than $35pb) but no point panicking before anything’s happened.

Totally agree with you, even with the 8.5% they are looking to repay their debt. What we need to realise is that the Creditors have given PM0 until 2025 credit extension. Even with CoVid and the global issue that give PMO some time to optimise it’s production of oil and repay its debt. That can only be a good thing.

Not sure why everyone is surprised to the drop in income due to disruptions by COVID. Also the BP asset was a good buy as PMO managed to negotiate a lower than asking price due to the current crisis.

They have increased the assets, which will help speed up debt repayments. I think the drop was a lot to do with panic selling. PMO share has high beta rate hence it over reacts to any new information.

Premier needs the oil price to top $37 a barrel to break even. The current trading oil price is well above that and they will be in the positive by end of the year. This is good time to buy cheap shares.

Hi

I am new to the chat and would join in-

There is nothing new in the earnings report from PMO a lot of the investors were aware of PMO and the purchase from BP assets. Understandably the debt level has increased due to the purchase but on the other hand the repayment of the debt will also be speeded up due to the increase of the oil to 100 kboepd.

There has been a lot of talk about PMO releasing additional shares to service the debt, the shares price should not be affected as the company has increased its assets and will also increase its daily oil production in the near future. The company assets have increase and it will add more shares to the market.

Ultimately it is the buyers of the shares that dictate the price and because a lot of people have panicked to the news that most people were aware of I feel that’s why we have had such a large drop in the SP. If we all held onto our shares then the SP will go north with new buyers so we need to more confident in PMO and more positive to help lift the SP.

Good luck tomorrow