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

indicated price above of 334 is clearly an anomaly (nonsense!) ...... expect sp to open ~311 which is where it truly closed last night

EARLY CLOSURE OF THE OFFER PERIOD

PREMIER OIL PLC
5% STERLING BONDS DUE 2020 (THE "BONDS")


On 25 November 2013, Premier Oil plc ("Premier") announced and launched an offer of the Bonds, available to wholesale and retail investors. This announcement confirms that the Offer Period will close at 12 noon (London time) today (the "End of Offer Date"), such date and time being earlier than the scheduled end to the Offer Period which was at 12 noon (London time) on 6 December 2013.

Premier will release its announcement constituting the Final Terms Confirmation Announcement as referred to in the Final Terms relating to the Bonds dated 25 November 2013 at a time and a date shortly after the End of Offer Date.

Defined terms used herein shall have the meanings attributed to them in the Prospectus dated 18 November 2013 and/or the Final Terms dated 25 November 2013 relating to the Bonds

-Ends-

Trading and Operations Update

Premier today provides a trading and operations update ahead of its 2013 Preliminary Results which will be announced on Thursday 27 February 2014. A Capital Markets Day will also be held for investors and analysts on 6 February 2014.

Simon Lockett, Chief Executive, commented:
"2013 was a challenging year for Premier and the wider industry as a whole. It is however pleasing that production reached record levels towards the end of the year, that four new projects will achieve first oil and gas in 2014 and that our mid- to longer-term projects, including Bream, Catcher and Sea Lion, have taken significant steps forward. We are also pleased our exploration record improved in 2013 as we refocus on selective new basins with material upside."

Production Operations
During December Premier's average production rate was 69 kboepd with a peak weekly average rate above 75 kboepd. Estimated average production for the full year 2013 was 58.2 kboepd (2012: 57.7 kboepd). Whilst our fields are capable of producing in excess of 75 kboepd, our output in 2014, after taking into account production efficiency and planned maintenance periods, is expected to be in the region of 58-63 kboepd.

CEO stepping down resulting in SP up 8%-funny old world

Ex -divi wed 16th Apr (5p)

StockMarketWire.com
Premier Oil said despite external market volatility 2014 has seen strong operational performance as it continues to deliver on the key targets communicated to investors earlier in the year.

Year-to-date production averaged 64.0 kboepd, up 12.6% on prior corresponding period.

Looking forward, CEO Tony Durrant said new projects would be sanctioned if they were robust at Premier's long-term oil price, which was currently $85/bbl.

"This includes a phased, lower capex solution for Sea Lion. In 2015, net cash flows will benefit from lower development capital expenditure and a programme of cost reductions," he said.

The company's interim management statement for the period 1 January to 31 October 2014 included the following highlights:

§ Good progress with development projects: Dua on-stream; first gas from Naga; Solan commissioning underway; Catcher FPSO construction to commence shortly

§ Following a project review, Sea Lion will now progress initially as a smaller development in the north east of the field with an estimated capex of less than $2 billion

§ Upcoming material exploration wells in 2015 include Badada (Kenya), Myrhauk (Norway) and Zebedee and Isobel Deep (Falkland Islands)

§ Cash flows protected by forward hedges: c. 43% of liquids sold at an average of $101.5/bbl for 15 months out to year-end 2015

§ Strong funding position retained, with cash and undrawn facilities of $2.2 billion.

A chart disaster

No different from many of the oilers atm. Might be some good bargains when crude starts to rise again.

Could be worth waiting 6 months Harry,

140p next stop..?

Down to 133p today.

RBC Capital Markets Outperform 142.30 300.00 250.00 Retains

Looking strong today.

And now in auction +10.9%.

Morning skinny, looks like you made the better choice yesterday hasn't suffered the same profit taking so far as TLW. Did you go long yesterday or were you already in?

Exploration drilling update - Badada-1, Kenya

Premier announces that the Badada-1 exploration well (Premier 55 per cent) drilled on Block 2B, onshore Kenya, has reached a total depth of 3,500 metres and is being plugged and abandoned as a dry hole. The well was drilled within budget.

Chris I was already in and and have been twice since - currently from 167.4p

Annual Results for the year ended 31 December 2014

Tony Durrant, Chief Executive, commented:
"Despite the challenging macroeconomic circumstances, the group delivered record production and operating cashflow in 2014. In 2015, we will continue to optimise our stable production base, push forward with approved developments and anticipate adding to our substantial resource base with targeted exploration. This can be achieved while re-setting the cost base to a new low oil price environment. These actions will position Premier as a well-financed low cost producer with significant undeveloped resources and acquisition capacity, highly leveraged to a future recovery in oil prices."

2014 highlights
· Strong operating cash flow of US$924.3 million (2013: US$802.5 million), up 15 per cent
· Revenue of US$1.6 billion (2013: US$1.5 billion); loss after tax of US$210.3 million (2013: profit after tax of US$234.0 million), reflecting non-cash post-tax impairments of US$327.8 million due to lower near term oil price assumptions
· Record production of 63.6 kboepd (2013: 58.2 kboepd), up 9.3 per cent and above upper end of market guidance
· Key milestones reached on development projects: government approval of the Catcher project received, installation of the Solan facilities achieved, FEED completed on the Vette field and a lower capex solution for the Sea Lion project selected
· Exploration successes included a 100 mmboe oil and liquids-rich gas discovery at Kuda/Singa Laut in Indonesia
· Continued portfolio rationalisation with approximately US$190 million of non-core asset sales announced of which Scott area and Luno II disposals completed during the year
· Dividend suspended for full year 2014

Financial position and outlook
· Significant liquidity with cash and undrawn facilities of US$1.9 billion
· Sustainable operating cost of less than US$20/boe
· Favourable, low cost debt structure; renewal of main bank facility completed on improved terms and increased to US$2.5 billion
· Significant cost reductions budgeted for 2015 via sustainable savings in operating costs, reduced G&A spend, and re-phasing of capex

Chart has further to go..downwards.

What stake as PMO got now in RKH and FKL exploration drilling ?

Premier has got 60 per cent. of Rockhopper's interests in its licences in the North Falkland Basin including the Sea Lion development and adjacent discoveries, Casper and Casper South.
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