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

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

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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.

i'm not fussed about the divi, but agree re sealion, and of course pmo has a pretty good portfolio anyway, which perhaps makes it a t/o possibility at some time (unimportant)

Could be a bit more of a drop yet imo
">.,.

nice rise in sp today.

Nomura lifts Premier Oil to buy from reduce, target price cut from 500p to 476p.

anyone in the know re sharp rise?

operations and trading update this thursday 17th

StockMarketWire.com
Premier Oil said an exploration well in the Luno II prospect in PL 359 has resulted in a potentially significant oil discovery and will now be tested to obtain flow rate information.

Premier said it was commenting after a press release by Lundin Petroleum AB, the operator of the exploration well 16/4-6S on the Luno II prospect. Premier holds a 30% equity stake.

The well was drilled in water depth of 101 metres.

The well encountered a significant gross reservoir section of close to 200 metres with a gross oil column in excess of 40 metres. The oil water contact was encountered at approximately 1,950 metres below mean sea level.

Information gained so far indicates that the petroleum system in Luno II is different to that of the nearby Edvard Grieg and Johan Sverdrup fields. A comprehensive coring and logging program has been performed and the discovery will now be drill stem tested.

that's why i bought back in this morning :-)