Member Info for Krakenoil

Peel Hunt has upgraded Premier Oil to Buy with a price target of 50.00p brokerforecasts.com

I’m thinking they might wrap up the refinancing adding a further £200m to it and the equity raise will be a small token to shareholders and dilution will be minimal.

BJ Services Company, one of the pioneers of the fracing techniques behind America's shale revolution, filed for Chapter 11 bankruptcy

Same as flu causes much more problems in the elderly and venerable as well. 99.7% of people wouldn't be affected by it and most wouldn't even know they have had it.
The world will move on

I'm getting a funny feeling that we wont get a chance to buy the RI or Open Offer, I think we are going to get another major investor

Looks like PMO got a great deal

Bit misleading that story. That was half of ARCM's short position as a backhander to allow the BP asset purchase. But with only £182.5m left to pay i'm not sure TD will want to raise the funds through equity now. He would be better off to re-finance our debt and adding this on top. I don't think our major investors would agree to allowing their equity to be diluted by half to raise such a small amount.
PMO's Market cap is worth 4 times what it is currently with oil in the mid 50's.
We all know oil prices cannot stay low for too much longer - Its impossible

Berenburg Bank raises PMO target price of 45p

All green apart from poor old PMO :-(

https://www.reuters.com/article/us-global-oil-russia-demand-idUSKCN24H2Y3

All eyes on the UK vaccine.

If you overlay the charts of most of the mid cap oillies they all seem to be following the Sam pattern give or take the odd spike/dip. Settlement will change once the market has a clear view of where the pandemic is going, but we know oil demand is rising by the floating storage figures and OPEC needing to finely increase production to balance demand and keep the price from climbing to quick(must keep a lid on those shale drillers for the next few months)
But we are in quite a strong position looking forward as we know things are slowly getting back to normal, even cruise ships will be back in operation from October.
42p is a mega low share price and when oil returns back to mid $50’s it will be much higher than where it is today. Patience is the name of the game now.
If US production drops under 10m we will have a oil supply problem next year.

Looking at the number of flights In Europe today compared to last week is a huge increase.

Oil stocks have been on a downward trend from the 23rd of June, oil demand and oil price rising have to change this at some point in the near future.

OPEC are responding to the demand increase, if they don’t oil prices will climb too fast.
Shale production is dropping and will soon roll over

Be careful. This could be back to a £1 soon

Thats over 2 years.

The sellers list is much larger. But what date was this from ?

Anyone else noticed all the off book buy's of £14700 coming in over the past week or so ?

Well your going to find it hard at 51p ferret, one less massage a week lol