Member Info for grippa

when are results expected now please?? Anyone got a total drill estimated date please?? Am I right in saying total drill is expected in 3 weeks??

Welcome Bladesman

at present its costing premier $20 per barrel operating costs $8 dollars per barrel to service the debt and $18 dollars per barrel is going to CAPEX, this is what TonyD is in Aberdeen for to see where they stop delay or rearrange costs.
I'm as sickened by the last weeks events as anyone but just been reading a article the Russian oil minister explaining why they have done what they have and he says this of the price going forwards!!!

He believes that oil prices will increase to $40-45 per barrel in the second half of 2020 and continue their upside to $45-50 in 2021

ARCM I phoned investor relations the 150 outflow is IF they don't pull back don't pull back on the 465 CAPEX it was categorically stated to me that THERE IMMEDIATE PLAN IS TO REASESS THE capex infact TD is in Aberdeen right now figuring out how they can cut back on capex AND USE IT TO GET US THROUGH THIS DIFFICULT PERIOD if they re-jig the CAPEX then there may be no outflow!! I asked how much of the CAPEX was put aside for Tolmont and was told 14% Alsaka is already drilling but think it is estimated to cost 26 million still leaves a sizable amount to get us through he storm!!

There will be lots of meetings coming weeks and months we have management with a very good track record, will take a while for us to hear but we will in time, our next hurdle is the court case next week. This court cast is not to say if the deal is a good or not, but to decide if Premier Oil have acted professionally/fairly. GOOD LUCK EVERYONE!!

FOR ANYONE FEARING BANKRUPTCY, WITH ALL THE SCARE MONGERING GOING ON, YES ITS UNSETTING BUT THIS MIGHT REASSURE A FEW.
Premier oil first half of 2020 40% of oil hegged at $64. Second half of 2020 14% hedged at $63.
IF prices stay where they are, we will be 150 million down buy the end of the year!! this is assuming no sale of Zama or adjustments to CAPEX.
They have 475 million of CAPEX this year this includes tolmount, drilling sea lion, catcher and other projects, which can be trimmed adjusted or deferred to assist in low oil price enviroment. Would like to think BP will be sympathetic to the current environment regarding the asset sales and timescales which are still making profit due to operating costs being only $20 but over the coming days and weeks options will be discussed with BP and the different options but doubt a share issue would be done at todays prices. (its in BP's interest to be as accommodating as they can be)
They don't plan to break covenants and wouldn't even if prices stay where they are for the rest of the year but if things lasted lower for longer still then could get wavers.
GOING BANKRUPT IN SECOND HALF AS SOME SUGGEST IS JUST SCAREMONGERING!!!

Sorry if sound a prick you sound semi positive but impossible to delay......

DD77 making statements like delaying Alaska there currently drilling it how is it possible to delay it.....

Thanks so maybes this coming week but if not the one after, will have to follow more closely!!! Cheers ;)

Not following to closely due to work when are drill results expected to start coming in please?? Next week??

whats a beta Owls please and who are they joint with??

Thanks Moneymaker think I'll hold :)

Whats a realistic share price here if the drill is successful please folks??

Whats a realistic SP if Charlie 1 has moderate success please guys??

Thats disappointing to hear Pelta I read several months ago she was ahead of trump in a poll at that time, potty as hate the orange faced twat and a ban of fracking would be great both enviromantaly as well as financially

So dose Elizabeth Warren I don't know if she's even considered a threat at trump at present but she was at one point if she gets in there will be an overnight ban on fracking!!! Thing is unfortunately Trump is still favourite to get another 4 year term :(

ACRM I recently spoke to a few in the know, I am led to believe that on March the 17th court hearing it is thought ACRM will probably to PMO's asset purchase and the associated financial changes relating to it. PMO have spoken to several specialists regarding the situation and have a good idea of the argument that ARCM will use to oppose the plan. The court hearing is not to judge wether the deal is a good one but to check that PMO have went about it in the correct manner and legal diligent to there debt holders. PMO are quietly confident that they will have the answers the court needs to hear and actually have plenty ammunition to highlight to the court of the lack of legal followings by ARCM (bare faced cheek of them to put it lightly). I am told that when PMO originally discussed the deal the SP was 80p and they still thought it was a good viable deal at that SP. It would have obvious benefits if the fund raise could be doe at a higher SP, would love PMO to be able to delay the raise a few months but think they plan to go ahead as per schedule, but good to hear PMO still think it has plenty benefits at todays SP. I think for anyone wanting to take park in new share purchase they will need the cash towards the end of April.

cheers beerbull will do!!

Actually Beerbull my mind failed me there correct they were not allowed to pay dividends under current Debt agreement. Since thats been kicked out 2 years all being well might have to wait another 2 years before were allowed to pay divies!!!

Thanks Bladesman can understand that reply in the past but all being well once tolmount is producing revenue I think they could surely spare 3o mill a year would surely make a big difference to the SP. That said I trust in what big T has instal for us his judgement has been spot on so far!!!