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

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.
2517

Thanks George

Pelikan - first gas


Premier is pleased to announce that gas production from the Pelikan field in the Natuna Sea Block A offshore Indonesia commenced on 9 March 2015. This follows first gas from the Naga field, also on Natuna Sea Block A, in November 2014. Both projects were brought on-stream to budget.

Pelikan and Naga will deliver additional reserves into the Singapore and domestic market under the Company's long term gas contracts. Deliverability from the two fields of up to 200 BBtud will allow Premier increased operational flexibility, additional volumes to be supplied to meet growing market share within existing contracts and, when the opportunity arises, to respond to increased Singapore or domestic gas demand.

Premier, with a 28.67 per cent equity stake, operates Natuna Sea Block A on behalf of its partners KUFPEC, Petermina, PTT and Petronas.

http://www.moneyam.com/action/news/showArticle?id=4994447

thought for the day ......
it must be very likely that young george will be offering some pretty serious incentives to the north sea oil producers in the the budget this week
that being so, the likes of TLW and perhaps more so, PMO would be beneficiaries, and therefore perhaps worth a punt at the current depressed levels

and if he doesn't then this could really sink along with many of its peers. Fight for survival for the indebted ones me thinks.

not really .... neither PMO nor TLW will go broke