Member Info for magmanus_49

Note: debt covenants waved, and production capacity up - Takeover/ merger worth 32p to shareholders - here we go.
time to buy and cover asap. well done if buy and holding.

Highlights

§ Proposed merger with Chrysaor announced, creating the largest London listed independent oil and gas company with a strong balance sheet and significant international growth opportunities

- Combined production to the end of October of 237.5 kboepd

- Creditor support received. Transaction completion expected by end Q1 2021



§ Premier's production averaged 62.5 kboepd for the 10 month period. Full year production guidance is revised to 61-64 kboepd to take into account recent constraints at Catcher



§ Solan P3 brought on-stream in September as planned, production capacity of more than 10 kbopd from the field in the near term



§ Tolmount: platform installed and drilling of the four development wells commenced. First gas forecast for Q2 2021, adding 20-25 kboepd (net) once at plateau



§ Significant growth optionality maintained:

- Zama (Mexico) unitisation and development plan negotiations progressing with Pemex

- Tuna (Indonesia) farm-out agreement signed with Zarubezhneft in September. Fully-carried two well appraisal programme planned for 2021

- Highly encouraging results from new 3D data sets in Mexico and Indonesia



§ Forecast 2020 opex (ex-lease costs) unchanged at $12/boe and full year capex guidance now $325 million, reflecting full year savings and deferrals of c. $255 million



§ Net debt of $2.05 billion, as at end of October. Financial covenants waived through to completion of the Transaction

Tony Durrant, Chief Executive, commented:

"The merger with Chrysaor, which will create a Combined Group with diversity, scale and balance sheet strength, is progressing to plan. We now have creditor approval and we expect to publish the prospectus in December, with completion on track for the first quarter of 2021."

The current takeover is expected...

''The agreement also effectively valued Premier's equity at roughly $280.0m'' - that's 32p.

Thought i'd let peeps know what they buying - even @20p that's 50% discount. Following shorting since August/ Sept expecting the oil to drop but it held and gain instead. :)
-
Oil price was $40p back in August and ppps was 35p-40p - so expect the same price - and minimum 32p.

US oil production is down and current world production will remain for the foreseeable future - and economy will improve. So oil price will remain between £40-44 Min. SO all good there.

We have huge takeover protection, so not bothered about general oil price moves just want that 30p - which we get anyway, so anyone buying he is buy 32p @ price of 20p - due to the courtesy of short friends - who need to cover and go long to gain some value.

Plus shareholders and board have right to increase the shareholder equity with improved economic outlook.

Great update...and we know who DR Gareth is and why be bough 18.9% of shares up to 5.9p

Volume nearly 430M....!

Tomorrow will huge day here - looks set to 4p will broken ready for Friday.

Get in ealry and you will do 1/2 a bag right off the bat. To much interest.

well done if holding and buying. You will sell much higher - 5.90 was high and that will be tested :) - and my guess breakthrough - hopefully people are getting some idea of the numbers...before we told.

closed strong with now sell, and any profit taking was well taken - and pushed up. And buy has been signaled, and we broke 5o dma with impressive volume- so see much higher price, regardless of little ups and downs from here.

look at 6 month chart, and you will see sellers are long gone, and we have big upward gap to fill.

Well well - Oil has increasing from $36, while PMO was falling - so we have a lot of catching up to.

Shorts need to cover asap, - under 20p if possible - otherwise its 25-30p come Monday.

Also expect and update Friday/ Monday...

TLW price also rebounding @ 25p, higher than PMO - so PMO has a lot of catching up to -0 hence the huge volume today.

Future is safe for big oil companies like PMO and TLW.

Why is PMO being taken over to join forces to become the largest oilier in UK? High production and huge asset value.

Never buy sell/ price, buy value - and right PMO is all time lows....and has huge upside potential.

My 5ok is going, junks through the day - may we hit 3op next. Usually does - but this time we have good winds.

Express you had good buy, and it was over shorted and now need to be covered in good, and we have good market, with oil improving....so you buy now is even better. :) ..see you at 22p, , and if you can hold to 25/30p very soon.

from here too. And PMS and other oil too low to ignore - based on improving world markets.

bought AMIGO at 6.50p last week - did well there, and bought more of rms at 1.20 on Monday and doing very very well there. Let these run.

PMO just started so need to build position here and let it run. and Top slice when the price is valued correctly.

When i know i know and get exciting and do my dd. So just finished DD and value PMO shareholder stake at 35/4op.

And we have huge short postilions that need to be cleared, so we should get back to August price.

I am added another 5ok here - and letting it ride.

All holders and buyers today and from here on will do very well.

And we one post ID. Was waiting for them one :)

buy/ load up, small resistance at 18.70, then its all the way to 25p, for push into 30's next week.

find out tomorrow - 160m volume and news it won't be down here that's for sure. may move to 4op by then.

This PMO about to become UK largest oil producer - we want a piece of that - and this is late re-rate.

what 160M volume is ramp? sure a ramp up in price. we'll take and ride with it - by buying. :)

its hard to cover when buyers are loading up too.

We have minor resistance at 19.70, and nothing to 25p. :)

We shall breakthrough...../ only bought 505 today, the rest to go int tomorrow - happy to buy under 20p.

On this kinda of volume, PMO rarely stops, :)

yes and price goes up...i am guessing you sold out bud!

sorry volume 160M! when was the last time you saw this kind of volume on PMO volume the upside :)

Just re-rating following merger news to create largest Oil producer in UK :)/ recovering from oversold/ shorted position August.

Buy and hold for now - as we progress towards 25p.

we have not seen anything yet. :) - this one is long term hold.

PMO should gap and rally towards 25p (Zak Mir Breakthrough) , and then I am moving profits back in here, already added RR profits here. :)

why sell under 6p for now. I said you will bag, and say it again you will bag from here a few times.

PMO also looks good - up on 13OM volume with 32m buy (has only 900M shares, and most held) - my next one to gain and put more in here and few others.

have 28 stocks I am playing with - get busy sometimes.

Rookie- volume speaks and 130M is right :) - 24/25p could well be tested tomorrow.

buy, add, and hang in there. PMO is back - if you been here before, you know what i ma taking about

Rookie1 then held at around 17p to fill another order, will be shown tomorrow i guess - was bloody big one as it was there 3omins - soaking all the sells up!

Nice buy on close....lucky bugger got it! - at times it was hard to buy 1k.

16:29:31 16.9642 250,000 Buy* 42.41k