Member Info for MrEMC2

I did say be positive this morning before the market opened :)

Hmm! Will that be it? Well let's get to 75p first.

Back below 50p.

arthurchance that is not positive. You may be right but let's hope it closes well above the lows for the day.

Christmas is only 6 months away:

Premier's 2019 free cash flow generation is weighted towards the remainder of the year due to phasing of capex and interest payments. Premier's leverage ratio (covenant net debt/EBITDA) at the end of March was 2.7x. At current oil prices, Premier is forecasting full year net debt reduction at the upper end of the $250m to $350m guidance with a forecast year end 2019 covenant leverage ratio of less than 2.3x.

So if I have understood the hedging schedule at the end of TA - large percentage of future oil (58%) and gas (about 70%) production is NOT hedged. Please correct me if I have this wrong.

From page 16 of 2018 Annual Report

"For 2019, the Company has hedged approximately 40 per cent of its oil production at an average price of US$69/bbl. In addition, 25 per cent of the Group's UK gas production has been hedged at an average price of 61 pence per therm. Premier has also hedged part of its 2019 and 2020 Indonesian gas production"

And from Trading Update 16th May

"Premier has taken advantage of the strengthening of the oil price to increase its hedging position to protect future free cash flow. Premier has hedged 42 per cent of its remaining 2019 oil volumes at $69/bbl and 10 per cent of its 2020 oil volumes at $66/bbl. Premier has also hedged a significant proportion of its remaining 2019 and 2020 Indonesian gas volumes. Premier's complete hedging schedule is set out at the end of this release".

We are always looking at POO but what about natural gas prices - they are low at present so this might affect PMO more than other oilies.

Maybe I got lucky, bought some just under 68p before going out in the afternoon. No cash left if this drops to 55p.

In now watch it go down - joined the moaning brigade.

Too much typing so may miss my 68p entry. On the other hand I don't like to trade before 10am especially on a Monday morning.

To buy or not to buy at 68p ?

The perceived long term prospects for PMO have been stated time and time again. However, the fact remains that big players want PMO to go down and good news is brushed aside.

Also see chart provided by Capra on 4th June:

https://www.dropbox.com/s/bl9i5juonfkv8zv/Screenshot%202019-06-04%2010.11.13.png?dl=0

and longer term chart 2017-2019 showing a head and shoulders pattern.

It could go to 55p but I hope not as I am proposing to buy at 68p, a target price I set myself some while ago after I sold at 90p. During that time I could have easily jumped back in too early. Please note that I have never shorted a share in my life.

British Bulls:

There is now an ominous undertone in the market and there may be more sadness

Was hoping to buy at 68p this week - any chance in next 45 minutes?

This article states a double bottom is forming

https://uk.investing.com/analysis/oil-spikes-after-tanker-attack-double-bottom-forming-200430439

Too cheeky!

Oil is ready to take off this afternoon - plane waiting at the end of the runway ready to go

But please not before 68p first:)

Oil up several $ don't think we will see 68p today

DBNO you stated at 11:21

"be careful. next wave down for oil is to $48 if 51.60 breaks (WTI)".

What's the timeframe for $48?

Scenario 1:
68p or lower tomorrow then back up to 75p. Then another fall to 60p during the summer. Then hopefully a rise to 90p etc etc

Scenario 2:
68p or lower tomorrow then back up to 75p. Then next week no more builds. Then climb back to 90p etc etc

Scenario 3:

?????????????????