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

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.

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.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


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{"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




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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."

slightly strange happenings here today with sp going in and out of auction a number of times .... volume ok without being particularly heavy

http://www.sharesoc.org/ShareSoc_Press025_Premier%20Oil.pdf

.

StockMarketWire.com
Premier Oil is abandoning its Coaster exploration well in the North Sea in which it has a 50% stake.

It has been found to be a dry hole and is being plugged.

A total of 17 feet of tertiary sandstones were encountered but these were shown to be water wet on logs.

The next exploration well to be drilled by Premier in the North Sea is the Spaniards East well on UK block 15/25a, which is due to spud in September.

The company says that its Benteng-1 exploration well on the Buton Block in Indonesia has reached a total depth of 12424 feet and is being plugged and abandoned as a small but potentially commercial oil discovery.

The next exploration well to be drilled by Premier in Asia is the Chim Sao Northwest appraisal well, which is due to spud in July.

Simon Lockett, Chief Executive officer, commented:

"The Coaster and Benteng wells were both assessed as very high risk pre-drill. Coaster was an important well to drill, given its proximity to the Catcher licence; but in recognition of the risks we took the precaution of farming-out 50% of our equity on a promoted basis. The Benteng-1 results are encouraging as they have established a working petroleum system in a previously unproven basin."

Thursday 12th July - Premier Oil issues a trading update on progress towards its targets of average annual production of 60,000 barrels of oil per day (bpd), with a 75,000bpd run-rate by the end of the year. Analysts at Singer Capital Markets recently called Premier one of their 'best ideas’, initiating coverage with a 'buy’ rating.

Up 3% on the RKH farm-in news. All seems very muted considering the hype that preceeded the news!

PREMIER OIL plc -Sail away of the FPSO Voyageur Spirit
1st October 2012
As announced by Sevan Marine ASA earlier today, Premier is pleased to note that the tow of the FPSO Voyageur Spirit from the Nymo upgrade yard at Eydehavn, Arendal to the Huntington field in the UK North Sea has commenced. The Voyageur Spirit let go of the moorings at 07:50 hrs on Sunday 30 September and is estimated to arrive at the Huntington field on Thursday 4 October.
The Huntington partners are E.ON E&P (operator, 25%), Premier (40%), Noreco (20%) and Carrizo (15%).

cynic are you still in, todays news of a new license award in the outer Moray Firth (PMP 50% Ithaca 50%) close to the Athena field discovery is encouraging.

yes i am indeed .... it's one of my long(er) term holds together with AFR and (usually!) TLW

we have bought in as it is a cheap way to get into the sealion story, as well as the prospect of PMO paying a dividend in 2013.