Member Info for LONGWAIT

Premier Oil (PMO) Price Target Increased to GBX 135 by Analysts at Canaccord Genuity

https://www.fairfieldcurrent.com/news/2019/03/13/premier-oil-pmo-pt-raised-to-gbx-135-at-canaccord-genuity.html

I think you have a good chance of getting back your original investment and making plenty on your recent ones.

I got out at about 10 p and back in at 1.49 - 1.85 p.

I have only 80,000 though!

Good luck, James

That wasn't the only mistake in the phrase 'seen as your a mug ', AS01!

I know oil companies, unlike companies in other sectors, are not valued according to their price-earnings ratios, but a ratio of six (which I arrived at by dividing market capitalization by post-tax profit in sterling) looks low.

Net debt is down from $2.7 bn to $2.3 bn.

In about five years time, debt should be nearly gone.

Welcome to the club and congratulations on achieving such a low average!

I've just realized: your calculation was based on my initial purchase price.

My average is actually below 30 p.

Thanks, SAS.

Actually, with a total position of 225,000 shares, the profit would have been higher than that, but it's more difficult to calculate with a spread bet.

I have bought more than 125,000 and never sold a single share.

I did sell twenty percent of my spread bet, but bought it back.

I first bought shares in HUR at just above 40 p in June 2014.

Thanks for your reply, exetrchief, which I have only just seen.

I'm not sure whether you're saying you agree with me or disagree with me, but everything you've written confirms what I wrote - in short, that the fall in sterling helped the share price reach 1816 p and enhanced the dividend received in sterling.

Conversely, if - as I expect - sterling recovers, the share price recovery quoted in London will be held back, and dividend growth too.

Thanks, IOG.

I'll be watching from the sidelines.

Maybe you're right!

The fall in the value of the pound may be history (until the next sterling crisis).

In other words, the high of 1816 p was partly due to the devaluation of the pound.

As the pound rises in value, it will slow down any recovery in the share price as well as any dividend growth (in terms of sterling).

I only hope the beer is not served with pickled gherkins ...

If you're right, Investoroilgas, then the shares could be worth 9 p each, but almost ever since I started following this company, everything has suggested that most posters have until recently been oblivious of the fact that it has been slowly going down the plug-hole.

'Brent not having the best of mornings … if Poo was behaving this would be higher .'

Maybe so, but it's $66.36 !

Remember, it was about $50 a couple of months ago and the share price didn't go much lower than where it is now.

'No trader or analyst is going to value this at 1 billion plus without a means of delivering that revenue.'
(Ilikesalmon)

Evidently, the traders don't; the analysts already have!

Thanks for that comparison, BlooBird.

I'm sure we all look forward to a share price of about 260p in March next year...

Yes, Manyana.

I just checked Poseidon on Wikipedia, which gives almost identical figures to yours.

But, even if you take 0.5p as your starting point for LOGP, a similar rise would give 178p as the peak.

A low of about 4.8p for PVR would give a peak of about 1700p.

Even if South Dunquin, Avalon and Newgrange are successful, that would surely be too much.

Now I understand: you started reinvesting in 2015, after almost all the correction had taken place, all the way down to 8.45 p.

I got out at about 80 p and started buying back at below 12p.

I was tempted to buy some at 6p, but waited for confirmation of a farm out and bought some at 7.5p

BUT that was my SMALLEST investment; all my other purchases were at higher prices, the last being at 13p.

Wish I had made my largest purchase at 6p or 7.5p.

Fortune definitely does favour the brave, including those who bought LOGP at 0.5p.

I agree with your analysis, Sobeit/Manyana, except for two things.

Don't you mean 2014 rather than 2015?

And the bottom was not 8.5p, but about 4.8p!