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

Yes - I've just been revisiting these - temping!

No one is in a hurry while oil prices still falling.

At 8.43am, WTI and Brent crude were down more than 1%

That's the problem , i'm looking at PMO and TLW but i don't think oil is going to turn around any time soon .
There could be huge gains to made somewhere down the road on some of these oilers provided they can stay afloat .

Barclays Capital Overweight 103.50 103.50 190.00 190.00 Reiterates

Huge debt pile here and that can't be serviced with this oil price for sure.

I think a wave of administration over the next 12 months throughout this sector sadly. A generation of investors taken out. Hopefully wrong, but I just don't see a sudden commodities rebound on the horizon. Look at LMI drowning by the day. Astonishing times.

No change of stopping the rot so far, gone under 100p just now
oil prices holding well today after yesterday's small bounce
Hold onto your cash the chart says

They say "hold cash and buy at the bottom"
but were is the bottom?

Same for TLW ...No end in sight at the moment .

Could this fall to 70p in the next month.

By Motley Fool | Mon, 17th August 2015 - 16:01

Premier Oil (LSE:PMO) is expected to return to profitability in the short to medium term, with asset write downs also presenting a considerable challenge to the business. However, further problems in this space seem to be more than sufficiently priced in, with Premier Oil having a price to book (P/B) ratio of just 0.44. This indicates that there is considerable support in the company's share price, as well as upside potential over the medium to long term.

Furthermore, Premier Oil trades on a forward price to earnings (P/E) ratio of just 9.8, which highlights just how cheap the company's shares have become. And, while further problems are set to lie ahead, with the company due to report a loss this year, it remains a very tempting stock to purchase.

Half-Yearly Results for the six months to 30 June 2015

Tony Durrant, Chief Executive, commented:
"First half operating cash flows increased year-on-year driven by reliable production, our hedging programme and operating cost savings of 30 per cent. With Solan on-stream later this year and Catcher in 2017, we expect both growing production and reduced debt levels. Amended financial covenants announced today provide balance sheet flexibility and demonstrate the on-going support of our capital providers. With the optionality in our portfolio, we are well placed for growth in a stronger oil price environment."

Operational highlights
· Production averaged 60.4 kboepd (2014 H1: 64.9 kboepd), despite recent disposals of non-core assets; full year guidance is maintained at 55 kboepd
· Increased momentum across sanctioned developments; Solan first oil is still targeted for Q4 2015 and Catcher first oil on track for 2017
· Progressing Vette and Sea Lion for 2016 investment decisions; ongoing engagement with the supply chain indicates significant potential for reduced costs
· Discoveries at Zebedee and Isobel Deep, Falkland Islands and incremental resource added at Anoa Deep, Indonesia; ongoing programmes in Norway, Falklands
· New venture focus on building portfolio in Ceará Basin, Brazil and Sureste Basin, Mexico
· Formal sales process for Pakistan assets initiated

Financial highlights
· Strong operating cash flow of US$513.0 million (2014 H1: US$499.4 million)
· Profit before tax and impairments of US$170.6 million (2014 H1: US$194.4 million); non-cash post-tax impairments of US$225.7 million result in loss after tax of US$375.2 million (2014 H1: profit after tax of US$172.7 million)
· Operating cost and gross G&A savings of 30 per cent and 20 per cent
· Amendments to Premier's debt covenants secured out to mid-2017
· c.60 per cent of 2015 H2 liquid volumes hedged at US$92/bbl; c.25 per cent of 2016 liquids hedged at US$69/bbl
· 2015 full year capex guidance unchanged at US$900 million (development) and US$240 million (exploration); US$500 million of total capex expected for 2016
· Net debt marginally lower at US$2,093 million; cash and undrawn facilities of US$1.5 billion

Hmmm! +6.1%.

I'm looking as well skinny ,also looking at ENQ they look to be pretty well funded .

Do you read Malcy's Blog ,it's worth a read ..

http://www.malcysblog.com/

No never heard of it - I'll have a look thanks.

I took the plunge earlier!

Premier impresses in "miserable" market

In auction again +18.0%.

Excellent bullish engulfing candle on good volume.

Beaufort Securities Speculative Buy 106.65 - - Retains

Deutsche Bank Buy 106.65 215.00 215.00 Reiterates

Jefferies International Buy 106.65 185.00 180.00 Reiterates

They could fall to 70p and still be overvalued by this market.

OUCH

a new low for PMO 87.60p
now below OPHR 88.50 not seeing for a long time

Tumbling Chinese Oil Demand Provides More Fuel To Sell Premier Oil PLC, Vedanta Resources plc & Enquest Plc
By Motley Fool | Wed, 9th September 2015 - 13:46

Another day, another set of worrying data from commodities glutton China. The country -- which is the world's second largest oil consumer, of course -- has announced that crude import volumes tanked 13% in August from the previous month, to 26.59 million tons.

Although optimists will point out that total oil purchases during January-August are up 10% from the corresponding 2014 period, last month's 5.6% year-on-year gain adds support to the idea that the Chinese economy is rapidly running out of steam.

Monday's news has sent the Brent price further below $50 per barrel, and the benchmark was last camped out around the $49.30 level. This still provides a slight cushion from the six-year lows of $42.50 punched late last month, but I believe crude prices are in danger of plunging again as the steady stream of poor data from Beijing shows no sign of letting up.

Supply woes set to persist

It is generally acknowledged that oil demand continues to rise, and the International Energy Agency (IEA) noted last month that black gold consumption was rising at its quickest pace for five years.

The body now expects 2015 demand growth to clock in at 1.6 million barrels per day, and by 1.4 million barrels next year thanks to ultra-low prices. "Oil's plunge below $50 barrels a day from triple digits a year ago has seen demand react more swiftly than supply," the organisation noted.

However, the IEA commented that supply cutbacks remain slow and are therefore likely to keep prices corked for some time yet, commenting that "while a rebalancing has clearly begun, the process is likely to be prolonged as a supply overhang is expected to persist through 2016... suggesting global inventories will pile up further."

Indeed, the number of rigs operating in the US shale sector has begun to steadily creep higher again thanks to the stabilising crude price, offsetting the effect of rising consumption levels. When you throw into the equation OPEC's commitment to rebuilding its market share; output from the North Sea striking multi-decade highs; and Russian producers pumping like there's no tomorrow, any blip in the global economic recovery is likely to send oil prices tanking again.

Operators under massive pressure

Such developments make terrifying reading for the likes of Premier Oil (LSE:PMO), whose latest financial release last month showed the business swing to a $214.7m pre-tax loss during January-June. It had recorded a profit of $50.7m in the same period last year.

Metals and energy play Vedanta Resources (LSE:VED) -- which generates a fifth of total revenues from fossil fuels -- has also seen profits tumble thanks to the plummeting oil price. Consequently the firm has been forced to write down the value of its Cairn Energy oil division by a huge $3.1bn.

And over at Enquest (LSE:ENQ), the economic health of the business is coming under increased scrutiny as brokers take the hatchet to their crude price forecasts. The firm's colossal net debt pile is also stomping higher -- this registered at an eye-watering $1.28bn as of June -- while costs in the North Sea are also rising. I believe that Enquest, like the rest of the oil industry, remains at risk of prolonged profits pain as the oil market balance endures.