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

UKOG - hohoho! ...... i was taken severely to task either here or on advfn when i suggested it was just a load of over-hyped rubbish

It's only beaten up punters 'averaging down' that is keeping much of the dross afloat.

A good clear out is required on AIM then new stuff can come along but that's years away.

Add the wording as appropriate!

"man with big chopper has cellar full of wood"

That's a big chopper.

From a high of 520p to 82p today.

A new low @72.30p.

It sure has the Lonmin feel/decline about it.

It's got the major debt problem to match as well. Value trap ahoy. It's all a bit of a lost cause this oil sector. Oil on the whole has bounced back over the last 10 odd years but now the odds seem stacked. The shalers may implode sub $50 in the next 12/18 months but then the distressed funds owning all the U.S shale cos' debt will start a Lehman type roll and then the world goes full tits recession... and then and then and then. It's all a bit crap. I don't hold either way but this looks doomed and ready to climb in the coffin of Afren.

Worth watching Australia LNGers... Now they are fuck.. The math won't work for them and they sure do love to carry the debt.

Off 11% today.

Think it has further to fall.

Operational update

makes a change of late to see a positive rns from pmo

Yes - off the highs now.

Barclays Capital Overweight 67.08 190.00 190.00 Reiterates

Deutsche Bank Buy 67.08 215.00 140.00 Reiterates

Premier Oil - time to catch this falling knife?

68.65p +4.50p

Some interest on the stock today though oil price hardly move today
OPHR is also on the rise as it is the rest of smaller companies though not as much on % terms
share price performance: the difference of having a big debt to a big cash on the balance sheet


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Members Primate Gallery

interesting that yet again today both TLW and PMO are having really strong days, albeit from pathetic base lines

crude is up but not by much

Believe that a.o PMO has hedged 2016 production -a long time ago-at $75/80 p/bbl on futures mkt-if that is the case then the dramatic fall in sp is greatly overdone as in my humble opinion we will see a (modest?) rebound in crude lvls during 2nd h 2016 due OPEC members putting pressure on Saudi

but don't forget iran coming on stream

Difficult to gauge how Iran envisages to plug holes in balance of payments but am sure that they can work out that -revenue wise- 2x$30 p/bbl equates to 1x$60 p/bbl ( i believe my sums are right...lol)

Trading statement from PMO on Thurs 12th Nov.