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

Perky - 28 Apr'04 - 05:45 - 14 of 14
Any ideas please as to why the drop in price over the last few days?
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Hi Perky, They announced a "plugged and abandoned" well off west Africa. But they were ambiguous in their statement as to whether there would be future potential from "Sinapa-2"

When they last took a dive downwards 480p was the bottom, currently at 500p I feel they are reaching an "oversold" status very soon.

I managed to get out at 580p, but their 52 week high was 612p. I would be looking to get back in around the 480-490p mark.

They have a large ongoing drilling program for this year (+/- 20 wells), if they announce some success from these then the price should climb back to the 52 week high or better.

Good luck & regards

Peter

Anyone any thoughts please on whether the recent fall in PMO is just a blip or have we seen the best?

You tell me after you have looked at this. ">

Extract from an todays e-mail. Make what you will and I hope it is of some use.

Although oil prices are set to move much higher in time, for now they look as if they are due to pull back for a while. This could be good for equities generally, but maybe not for Premier Oil. The immediate up trend has been breached, and it looks as if we are due to test support levels between 510p and 595p.

Just pulled this one from the mists of time.

They bought another 100000 shares yesterday the lastest of a series of buy backs, leaving just 81 million out there.

Now that is not a lot imo.

http://moneyam.uk-wire.com/cgi-bin/articles/200505231742146567M.html

Its been a long time since anyone has posted to this thread and since last May, the share price has risen well. It's surprising that there is no interest for PMO on the Moneyam BB's. This company has some interesting exploration sites which will come good this year. Many comentators in the industry feel the share price has far to go.

Any interest amongst Moneyam investors as to its potential?

I have a lot of interest in Premier but I am not going to speculate as to what price it might achieve in the next year. That all depends on the success or otherwise of its drilling program. However, I'm not selling!

US crude oil stockpiles hit an eight-year high

By Kevin Morrison

Published: June 21 2006 18:46

US crude oil inventories rose to their highest level in eight years, US government data has revealed.

A weekly report by the US Department of Energy showed US commercial crude stockpiles rose 1.4m barrels to 347.1m barrels in the week ended June 16, its highest since May 1998, when US benchmark oil futures were trading at less than $15 a barrel, about a fifth of current prices.

US oil inventories have risen to such a level that some analysts are predicting they are close to reaching capacity in the worlds largest oil consuming market.

The increase in stockpiles was boosted by a rise in US crude imports of 447,000 barrels a day last week to an average of 11m b/d, suggesting there is no shortage of oil supplies at the moment, in spite of disruptions in Nigeria, a key oil exporter to the US, and in Iraq.

There is simply no way that a state-owned company in Mexico is going to table a bid for PMO.L.
It's ludicrous!!!! (almost laughable)
The MM's are taking the small punters for a ride.

Metals are good value at the moment.

this was my posting from a few days ago:


The only source of this buy-out rumour has been one reporter from the 'Independent' newspaper. No-one else has made any such claim. This is because the rumour is groundless and, as such, it has no credibility whatsoever. If it was credible then it would have been corroborated by other sources.

A good clue is found in the claim that the buy-out offer would come in friday morning. It clearly did not. Thus, somebody somewhere is obviously interested in spreading incorrect information. Do we really need to ask why?

The truth is, there is simply no way that a state-owned company in Mexico is going to table a bid for PMO.L.

It's just too ludicrous for words!!!!  (almost laughable)

The MM's are taking the smaller more gullible punters for a ride.

Once the rumour is seen for what it is the sp is going to sink - and, in a market where the oil price is also going down daily, 'sink' could very well = plummet !!!

....and now this:



Daily Telegraph - 05/09/2006
Market report: By Yvette Essen


Hopes of a 13-a-share bid for oil explorer Premier Oil receded.
The shares fell 15p to 10.42.

Premier Oil says no approach from Shell

By Tom Bergin


LONDON (Reuters) - Oil company Premier Oil has not received a takeover approach from Royal Dutch Shell, Premier's Chief Executive told Reuters on Tuesday.

Earlier, a Dow Jones Newswires report said that Shell was seeking bank advice regarding a possible bid for Premier Oil.

"I have no knowledge of any talks ongoing with Shell. We have not received any approach from Shell," Simon Lockett said, speaking in a telephone interview from Kuwait.

A spokesman for Shell said the company did not comment on market speculation.

just a thought .... what is Mr Lockett doing in Kuwait? Not a tourist destination.

Comments welcome.

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