What a chart, further to go, or not
Comments please

much excitement here following w/e rumour that KNOCC (or whatever it's called) is now setting its sights on PMO after being refused by DNX ..... whether or not there is any substance remains to be seen

From the FT sector watcher today:
"According to yesterday's Observer, PMO has had a recent approach from Korean state oil company KNOC regarding a possible takeover. No comment from PMO, although it wouldn't surprise us if KNOC had indeed taken a look at the group. We have a core NAV for PMO of 1698p/share, based on a long-term oil price of $70/barrel and a 10% discount rate. However if we use a more aggressive oil price assumption of $85/barrel and a discount rate of say 8% we get to a NAV of around 2400p/share, i.e. a 33% increase on the current level - and this includes nothing for exploration upside.
Since KNOC's hostile acquisition of Dana completed a few weeks ago, we have mentioned PMO as a possible follow-on target, given its high-quality asset base in the North Sea, Indonesia and Pakistan, as well as its strong medium-term forecast production growth. Moreover given that KNOC bid a very aggressive price for DNX (c70% premium to pre-bid price), it feels like a price for PMO in the mid-20s area is about right. Even if the KNOC rumour proves to be false, I'd be shipping in the PMO - it's been our pick of the midcaps for months."

beware of accepting valuations from a BB subscriber - and that includes here!

rightly or wrongly, i tend to compare PMO with TLW - yes, i know they have very different portfolios - but the comparative chart below is interesting ..... PMO is the runaway winner, and diverging ever more

my stock to ramp!
none of you ever pay attention anyway, but this has been better than a steady performer of late ..... i guess breaking and holding above 20.00 is the next (psychological) test

goody gumdrops!!

Premier Oil , Encore Oil , Nautical Petroleum PLC : * Varadero oil discovery * Varadero well successfully encountered high quality oil bearing reservoir in target tay sandstone * Tay formation had a gross thickness of 186 feet with a calculated net pay of 84 feet * Reservoir quality is excellent, with high permeability, average porosity of 35%,average oil saturation of 84%

having taken a wallop this morning with the Catcher result, i sold my balance at 20.31, still with a very healthy profit and then got greedy and bought back at 20.10 as 20.00 seemed to be holding quite easily ..... we shall see!

Chefs break eggs- oil exploration cies sometimes have less than anticipated drilling results- no big deal

i would agree, though PMO have not been having a good run over the last year, even if the share has performed very well

none of you silly buggers ever listen do you!!??

* Barclays raises Premier Oil PLC price target to 2525P from 2170P .... so now you know why PMO is having such a rubbish day lol

in a tough day on the markets, PMO is performing strongly for no obvious reason, especially as GS reduced it to SELL just a couple of days back

News from the Grosbeak appraisal can't be too far away.

Although on further consideration .... Premier stated that they expected results within 3 months from the spud date. In that case we are about half-way there. On the plus side, Grosbeak is estimated to contain up to 200 million barrels with Premier having a 20% stake.

http://offshore247.com/news/art.aspx?id=18829

I agree that something appears to be happening today - Premier is up and the other oils I have looked at are down.

& Opinion

Earnings.Small Caps.Personal Finance.Economy.More News.Market Movers.Upgrades & Downgrades.Newspaper Tips...My Portfolios
Quotes.Edit.....Create Portfolio...Personal Finance
Loans.Credit Cards.Insurance.Savings.Mortgages.Pensions.Banking.Money Guides.Utilities.....Search for share prices
Search for share prices
.Sun 19 Jun 2011 18:49 - UK Markets are closed
..Premier Oil submits bid for BP's Wytch Farm stake - report

tweet0Print..Companies:PREMIER OILPREMIER LTDTopics:Mergers & AcquisitionsCommoditiesOil & Gas.Related Quotes
Symbol Price Change
PMO.L 471.50 +6.40

PREMIER.BO 87.55 -1.05


Follow these stocks
{"s" : "PMO.L,PREMIER.BO","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} 16:51, Sunday 19 June 2011

LONDON (Reuters) - British oil firm Premier Oil (LSE: PMO.L - news) has made an offer to buy BP's stake in the Wytch Farm oil field in south west England, the Sunday Times newspaper reported.

BP said in May it had agreed to sell its interests in Wytch Farm and surrounding oil fields in Dorset to privately-held Perenco in a $610 million (376 million pounds) deal, a sale which is subject to partner pre-emption rights.

Premier (BSE: PREMIER.BO - news) , which behind BP is the second largest partner in Wytch Farm, on Friday exercised its pre-emption rights and lodged an offer for BP's controlling stake, the report said, adding that BP was expected to name the new owner this week.

BP and Premier Oil declined to comment on the story.

(Reporting by Sarah Young; Editing by Jane Merriman)

Premier bid for Encore great bull




View Author's profileAdd to favouritesIgnoreAuthor's posts
May be the First of many bargains the bigger boys try to take over,

RNS Number : 5805P
Premier Oil PLC
05 October 2011









PREMIER OIL PLC

("Premier")



Recommended $340 million acquisition of EnCore Oil plc ("EnCore")

Trading and Operations Update

5 October 2011



Premier today announces the recommended acquisition of EnCore for cash with a share alternative for a consideration of 221 million (approximately $340 million). Premier today also provides a Trading and Operations update.



Simon Lockett, Chief Executive, commented:



"Today marks a significant milestone for Premier. We continue to prove our ability to execute development projects and to identify acquisition opportunities which enhance our portfolio and growth profile.



First production will start Friday morning from the Chim S oil field in Vietnam and is expected to commence shortly from the Gajah Baru gas field in Indonesia. These new fields will boost production to 60,000 boepd by year-end.



In addition to our organic growth, today's recommended acquisition is an example of our ability to use our strong balance sheet to capitalize on opportunities. Together, these show that Premier is on track to deliver on its stated strategy and to realize its medium-term target of 100,000 boepd."



Recommended acquisition of EnCore

As separately released today, Premier announces the acquisition of EnCore, an AIM-listed independent exploration and appraisal company. The board of EnCore are recommending the terms of the transaction. The acquisition of EnCore will increase Premier's interest in the UK Catcher area to 50 per cent, provide Premier with the operatorship of the Catcher development and add to Premier's exploration position in related Central North Sea plays. Details of the terms of the acquisition are provided in a separate joint release by both boards and can be found on both companies' websites.



Chim S first oil

Premier received yesterday the Ready for First Oil Certificate from the FPSO contractor. After final performance tests today, production is expected to commence from the Chim S oil field in Block 12W on Friday morning. Premier has a 53.125 per cent operated interest in Block 12W in the Nam Con Son Basin.



The Chim S field, discovered by Premier and its partners in November 2006, was approved for development by the Government of Vietnam in December 2009. The development comprises a FPSO, a well head platform and a subsea pipeline system to transport hydrocarbons, to export gas, and to provide water injection and gas lift.



Crude oil from the Chim S field is transported to the FPSO Lewak Emas, which has a processing capacity of 50,000 barrels of oil per day (bopd), where it is processed, stored and exported via tankers. Gas will also be exported to shore for power generation to meet domestic demand. Output from Chim S is expected to plateau at around 25,000 bopd at which time gas production will be approximately 25 million cubic feet per day.



The successful development of the Chim S field, on budget, is a significant milestone for Premier, the field partners and the contractors.



In addition, the oil discovery in the fault terrace to the north west of the Chim S field, made by the previously announced CS-N2P development well, has been successfully appraised by the CS-N1P development well. The CS-N1P well intersected an estimated 89 metres of net oil bearing sands within a stacked sequence of Upper Dua sandstones. This compares with an estimated 15 metres of net oil bearing sandstones intersected in the CS-N2P well.



Separately, the Chim S development drilling programme has been extended with the inclusion of a production well to accelerate recovery from a shallow reservoir within the Middle Dua Sandstone section.



Gajah Baru

The Gajah Baru facilities, located in the Natuna Sea, are mechanically co

Premier Oil acquires Encore Oil
StockMarketWire.com
Premier today announces the recommended acquisition of EnCore for cash with a share alternative for a consideration of 221 million (approximately $340 million).



Story provided by StockMarketWire.com

don 't know why none of you guys follow this good second tier oilie ..... results out next thursday (i think), and likely to be good ..... nice puff in today's ST Biz section

i usually hold hold PMO and/or TLW, and currently very happy to be holding both, though would like to see sp break out from it's current narrow range

NORTH SEA OIL FIRMS SET FOR £17BN BOOST,Saturday March 17,2012
http://www.precogz.com/news/page/2/

SATURDAY 17 MARCH 2012-Osborne will throw lifeline to North Sea oil industry
http://www.precogz.com/news/

Deutsche Bank review note:
"Premier Oil (Buy, TP 565p) A premier cash generation story -
Premier’s shares are down 25% over the past 12m, despite a major increase in production capability and a broadly flat oil price. Against a core NAV of 469p (362p on the strip) the market is factoring in no upside from discovered resources and/or the exploration programme. That makes no sense to us, given Premier’s track record of project delivery on Gajah Baru/Chim Sao and an exploration record which has added equivalent to the current share price over the past decade. Our TP moves from 605p to 565p to reflect a model review and futures strip pricing, but we reiterate at Buy and make Premier one of our top sector picks."