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So it’s official and as forecast by myself and Ovets along with Nigoil on numerous occasions, Zama is to be sold!

What does this mean?

1. Premier Oil will sort their debt issues out once and for all enabling them to start paying a dividend. Expect a huge re-rating if PMO with shirts running for cover over there. Expect news soon
2. Sealion is now going to happen and is their key transformational project

Expect FID and sanction by year end.p followed by OM.

It’s about to get interesting!

Much

Great post Cyan.

This was my take however I was starting to think I had viewed it with rose tinted spectacles until you echoed my sentiments.

Also worth focusing on the monetisation of Zama conversation in the interview which on its own sorts out Premier's debts, allows them to start paying a dividend and funds Sealion. Also Premier like to be lead operator and they're a passenger on Zama. Little doubt in my mind that it will be sold once fully proved up.

Much

Not a ramp Olliesky .. just observations based on hard facts

Human psychology can be a fascinating thing. Reading the posts here and watching market reaction on diddly squat volume would be fascinating to study if it wasn't all so financially painful and distressing. From name calling to blaming the board and Sam, it's all happening on the RKH board..

However, take a step back and you will realise nothing has changed here. Its August city silly season (worst performing month of the year) Brexit and no deal are on the horizon, and we're a stock that has been bobbing around on rumour and hopes for the last 10 years. The market hates uncertainty and of course oil falling in price are the icing in the cake. Consider the following:

1. Lloyds Banking Group wer 87p and hadn't made a profit. Assuming share buy back money was paid as a div and with current div they have a yield of 10% on profits of £7bn. Yet they are trading today at 49p.
2. Premier oil peaked last year at £1.50 but today can be bought at 70p. Again nothing changed except debt is some £400m lower
3. UK stocks have underperformed world markets by more than 20% - hardly a tail wind for speculative stocks
4. The market has lost interest in RKH. Bugger all volume and no news. No one is going to push the button until there is news re the EFG Loan, FID and of course Ombrina Mare which if we were to see a highly probable £150m post Legal fees would deliver a 30p increase in the share price on its own

It is ironic that as we move into the last qtr of the year we have never ben closer to the jackpot than we are now and yet the share price is hitting record lows day after day.

Remember behind the scenes everything is happening with the UK Gov, FIG, Premier, the contractors and RKH to make this happen. It's a game changer for al stakeholders so if they can make it happen they will.

Keep the faith ... the darkest hour is often just before the dawn.

Enjoy your time in the sun carrot....... it’s been easy for you to ride the waves of impatience and frustration in a binary stock like this year after year.

I only need to be right once however, and when it comes to pass in the. It too distant future, your drivel will be consigned to the depths of the internet for all eternity.

Just imagine being short on the day of FID or OM...... you can almost smell the fear from here and with each day that passes, the risk grows ever larger.

Be very, very careful. It could very very nasty when my time is nigh and it’s time for you to cover.

Firstly the sanctioning of Sealion and FID are completely out of the hands of Sam and his crew so you may as well shoot the messenger. They are as much prisoners as the moaning hoards on here. TD and Premier will make the final decision when they are ready which will be once Zama is fully appraised and ready to be monetised.

The Edison report is spot in so far as I am concerned.

It’s city silly season and with BREXIT on the horizon it’s going to be a bumpy ride so I suggest people go away and enjoy what is left of the summer and return here post October the 31st.

Trust me the last quarter of this year is when it’s going to really start to get interesting here. Get out now at your peril.
Much

Hey Muzzletoff

I think you can safely say that if OM comes in there won't be any need for a cash call or rights issue.

Remember, the night is always at its darkest just before the dawn.

Everything is set up nicely here.......5 months and we should be in a very different place.

Lets not forget that the market is in a bad place with low volumes and people holding off until there is clarity around BREXIT.

November and December should be an interesting time to be an investor here.

Much

Phase 2 will be financed from cash flow from Phase 1. With both phases pumping some 130k barrels of oil will be coming out of the ground each day. I’ll let you do the maths to work out what that is in cash on a daily basis.

Albeit by then we will all be Premier Oil shareholders following an all share merger.

Everything falling into place here with lots clearly going on in the background (big thanks to Moger especially) and loose ends being tied up ahead of the inevitable sanctioning year end / early 2020.

Some of the stuff being posted sounds like it is coming fro people who are either insane or extremely worried. And the only people who would be worried are people with open shorts ....... got to challenge the motives of Ollie and Carrot here.

Sabyam .. if you need to work out why the share price rose last year to above 40p, have a look at the list of larger shareholders.

You'll find a couple of smaller institutions took the decision to buy in ahead of FID which they believed was going to happen by the end of the year. They remain shareholders.

It's all in their fund review info if you have a dig around.

The price rise also would have attracted momentum investors. Its all pretty above the line and normal if you think about it.

Yeah apologies Sabyam and to anyone else.

I picked it up from Malcy's Blog yesterday when he covererd Premier and dropped in the link I shared which he described as an 'interview a few weeks ago'.

Had I realised a few weeks meant May then I would of course have caveated it.

That said its an informative and bullish piece in my opinion and givenwe are now a couple of months on suggests that some of what he stated will have already happened.

Carrot, my purchases have been at a high of 85p in FOGL down to a low of 19p in RKH a couple of years ago. Timing here has been awful with hindsight with each false dawn suckering me in further. Technically this one fails to follow any normal rules but as we have said before it’s a binary stock.

Sadly I added last summer during the previous false dawn at 38 p and have an average of around 36p here. This has never been about ‘if’ but instead ‘when’. The key has been to amass at these lower levels and as near to lift off chronologically as possible. Something which I think it is fair to say we have all failed to do done.

Ideally I would have no holding here yet and would be buying now but hindsight is a wonderful thing.

My exposure is just over 100k shares which given my situation and commitments gives me enough upside to make life very comfortable indeed when this goes.
However my portfolio has to be balanced so although I would love to add further here, I have to balance risk and reward along with safeguarding pension savings etc.

So to answer your question, no I am not amassing as I don’t have the spare funds and already have the level of exposure that suits my needs. It if I wasn’t in I would be buying ad many as I could afford.

Make no mistake here the upside here is phenomenal and as TD states, it’s not just Sealion but Isobel and the follow on opportunities that could make this the investment of a lifetime over the next 10 years.

Carrot. By the end of the year you’re going to look like the biggest t*at any of us have had the misfortune to ever have indulged.

Ultimately we have placed our bets and will soon find out who was swimming naked..

I hope you look good when fully exposed albeit I suspect what we will see is little more than a shrivelled little baby carrot.

Worth listening to this interview from a week or so ago. Go to 10mins ish and hear all about Sealion for around 4 mins of discussion.

Trust me boys, it’s going to happen....https://www.malcysblog.com/2019/05/core-finance-ceo-interview-tony-durrant-of-premier-oil-2/

I personally like Tony Durrant. He has all the skills and vision long term to make Premier a global player whilst at the same time ensuring he mitigates the risks.

I’m confident that he will deliver. The next 6 months are going to be very interesting indeed with OM the icing on the cake.

Agree. As I have said before, these departments operate free of any political interference and have clear whistle blowing policies if anyone tries to lean in them.

They are se up to lend and support so if you tick the boxes the support will be forthcoming. It’s not just the oil companies but also the beneficiaries in the supply chain that benefit.

So long as you meet the criteria it will be agreed

Hey Sabyam,

Then they'll just have to make an offer that enough shareholders are willing to accept to get it through.

I would expect it to value RKH at fair value ie £2 plus

One to revisit in a few years time!

Another point she makes when talking about PMO is that they like to be Lead Operator, something that I have pointed out before.

Zama leaves them at the mercy of others. Sealion leaves them with an even bigger prize with complete control in a safe UK protectorate with low tax rates.

The only fly in the ointment is us hence I predict an all share merger of Premier and RKH once Zama is sold and Sealion is confirmed.

Prediction as before is that ultimately we are all going to be PMO shareholders. If Premier can get their share price up to a decent level, using equity to buy us out will be the cheapest way of acquiring us whilst giving RKH shareholders a decent price.

I'd happily be a PMO shareholder if it was producing 200k barrels a day which at $70 is £14m per day of revenue or $5bn per annum!

Massive upside potential here and then again as PMO shareholders for those patient enough to see full value.

Very kind Nigoil.

And of course credit to Ovets who has ben calling the sale of Zama for as long as I can recall.

Great minds and all that.

Make of it what you will but Zama looks like it is almost certainly going to be sold and Sealion production is being factored in to future projections ....
https://www.proactiveinvestors.co.uk/companies/stocktube/13932/premier-oil---proactive-s-oil-capital-conference-june-2019-13932.html

I think the Italian attempt was based around EU law which prevents one EU state from suing another .

With that out if the way they can get down to business.