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

Was it ..?

I thought it made 500p top.

Checking the charts...looks like you're right mitzy 520p....there were other north sea oilies that went above 10 pounds....

Quite a strong bounce atm.

Yes one hell of a bounce.

There goes your pound mitzy !

Are you relying on the Falklands RF it might be a long wait.,.

bounce is based on budget incentives for north sea

No Balerboy.....but still have some RKH and FOGL.....you never know....might get lucky...

You can't rely on luck when investing , might as well go to the casino

But that's gambling! :-)

That's my point

Good tax breaks for North Sea Oilers in the budget.

25 Mar Barclays... 270.00 Overweight

Exploration drilling update - Oil and gas discovery at Zebedee, Falkland Islands

2 April 2015


Premier is pleased to announce that the Zebedee well (14/15b-5) in PL004b (Premier 36 per cent equity) discovered 81 feet of net oil-bearing reservoir and 55 feet of net gas-bearing reservoir.

The well penetrated multiple targets in the Cretaceous F2 and F3 formations with a total hydrocarbon net pay of 136 feet. The pay is primarily located within two F2 sands:

· The Hector sand, which contains 55 feet of net gas pay.

· The Zebedee sand, which contains 79 feet of net oil pay. No oil-water contact was observed in Zebedee.

The reservoir at both the Hector and Zebedee intervals is of good quality and the above results are in line with prognosis. Good oil shows were recorded at the deeper F3 targets but at this location the sands are not well developed.

The well will now be plugged and abandoned as a successful exploration well. The Eirik Raude rig will then drill the first exploration test of the Elaine/Isobel fan complex in the southern part of the North Falkland Basin with the Isobel Deep well. The results of this well are expected in late April.

Not really the one to be in .....RKH might be better if you want full exposure to the Falklands.....

This isn't just in the Falklands though rf and in my mind a better bet for a recovery .

More exposed to the price of oil than exploration strikes but also less risk of a further crash....just depends on what you want .....

In fact Argos Resources have gone up the most....and that's because of their proximity to a discovery......they might have big oil and gas reserves...

Stock of the week: Premier Oil gets discovered - Lee Wild - Fri, 10th April 2015 - 14:51

It's been all about oil this past week. The price of the black stuff rose 10% in a matter of days and Shell's (RDSB) $47 billion offer for BG (BG.) marks the biggest industry takeover in years. Predictably, oil companies dominate the list of top share price performers and the FTSE 350 Oil & Gas index is up an impressive 6%. Unfortunately, we can only pick one company and this week Premier Oil (PMO) just shades it.

The North Sea and Falkland Islands operator is up 18% in the past five days, from 133p to 157p currently, a five-week high. Momentum began to build at the end of last week when Premier announced that the Zebedee well had discovered 81 feet of net oil-bearing reservoir and 55 feet of net gas-bearing reservoir.

"We now look forward to the results of the upcoming Isobel Deep well, potentially the highest impact well in this campaign," says exploration director Andrew Lodge. The results of this well in the southern part of the North Falkland Basin are expected in late April.

The price of Brent crude is up from less than $54 a barrel the Thursday before the Easter holiday to a high of $59.25 less than a week later.

Deutsche Bank is certainly excited about prospects.

"The well is testing the southern extent of the basin and success could establish a second, discreet hub, potentially equivalent in size to Sea Lion to the north," writes the DB oil team, which has a 230p target price on Premier. "In a farm-down scenario, we believe the prospect of multiple development projects would enhance the overall appeal of the basin, support individual project economics and provide optionality in any disposal discussions.

"Using Premier estimates, the Isobel well is targeting c. 55mmboe of resource with the potential to de-risk 243mmboe across the Elaine/Isobel fan complex. Isobel represents 2p/9p (risked/unrisked) of our ~325p risked NAV [net asset value]."

Of course, Shell's bid for BG has reignited speculation that the oil industry is about to witness the most significant round of consolidation since the late 1990s. Premier has already fended off one takeover approach - from Ophir Energy (OPHR), which has just bought Salamander Energy (SMDR), this time last year - and would clearly make an attractive target.