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

Saxo have oil spiking to $100 in 2016 on their 'outrageous' predictions. CNBC this morning.
2517

Looking dire here George.

Certainly is mitzy, I'm fortunate in that I don't hold these. Saxo reckon that Saudi's/OPEC will need to do something to increase the oil price as they are all struggling atm and they are selling other assets to get by. Not certain but I think he said their debt is 22% of GDP. So this could be a raging buy.
2517

far far far too late i have lost patience with these, but still hold TLW on which i doubt i'll ever see a profit

however, of the pair, TLW looks the better and safer bet for a number of reasons

Got a feeling next year will be much the same.

This is priced to to go bankrupt.

Broker note from JP Morgan Cazenove today reaffirms its neutral investment rating on PMO and cut its tp to 60p from 78p.

TP almost 100% from it's current sp and they rate it neutral---the mind boggles
2517

I wonder if this will survive ...

As I've said many times, these oilers will only be around after huge dilution but after reading ST then maybe not anymore. Private equity/institutions seem unwilling to chuck anymore in these indebted oilers. It's going to take 2/3 years imo for overcapacity to be taken out via producers falling over. Sad :-(((

Suspended this am.

sad demise of what only a couple of years ago was a very promising company

At the request of the Company, Premier's ordinary shares have been suspended
from trading on the London Stock Exchange with effect from 7.30am this morning
pending an announcement of a potential acquisition of assets by Premier which
may be classified as a reverse takeover under the FCA Listing Rules.
Therefore, the Company has requested the temporary suspension of trading in
its ordinary shares whilst clarification is sought from the UKLA.

Very sad for shareholders of course but many of these companies have been ruined by poor financial management. Ultimately poor financial decisions has meant $100 oil was required merely to keep things ticking along. This comment just made me chuckle on another forum..

"If you take away the debt worry then Premier is clearly undervalued at the current price."

I thought something was going on yesterday by the sudden drop ,i wonder if this will be another Afren ?

Apparently rumours buying EON North Sea assets .reuters .

Try this VIC

Premier Oil is in advanced talks to acquire the UK North Sea assets owned by German utility Eon, the Financial Times understands.

Eon is the operator of the Huntington field and has production interests in the Elgin, Franklin, Glenelg, West Franklin, Scoter and Merganser fields, write Kiran Stacey and Christopher Adams.

It also operates the Babbage, Johnston, Hunter and Rita producing fields, and holds interests in the Caister, Minke and Ravenspurn North fields, as well as the ETS and CMS pipeline systems. It has exploration licences west of the Shetlands.

The deal, should it go ahead, could be structured as a “reverse takeover” because the purchase price may be close to Premier’s £100m market value. The company’s share price has more than halved since the start of the year, from 46p to 19p amid a renewed plunge in oil prices.

Industry insiders suggested that CalEnergy Resources, owned by Warren Buffett’s Berkshire Hathaway, had been involved in the discussions as a possible joint investor, though is no longer thought to be part of the discussions. A deal could be announced within days.

A sale of some or all of Eon’s UK offshore assets would follow the disposal, announced in October, of stakes in several Norwegian oil and gas fields.

Russian billionaire Mikhail Fridman’s LetterOne Group, through its Dea subsidiary, beat off competition to acquire interests in three producing North Sea fields for $1.6bn.

Maybe thinking long term as it should be with energy .

StockMarketWire.com
Premier Oil's shares remain suspended on LSE pending clarification from the UK Listing Authority on the status of the proposed acquisition of E.ON's UK North Sea assets.

Discussions with the UKLA remain on-going and there can be no certainty over the period that the shares will remain suspended.

StockMarketWire.com
Premier Oil had its shares reinstated to trading on London Stock Exchange following announcement on Jan. 13 of a deal for it to acquire the whole of E.ON's UK North Sea assets for a net consideration of USD120m, plus completion adjustments.

The deal would be funded from existing cash resources, adds immediate cash generative production to Premier Oil, realises tax synergies on Premier's current c.USD3.5bn UK tax loss position and is accretive to lending covenants.

On announcement of the transaction, Premier's ordinary shares and public bonds were suspended from trading on the London Stock Exchange at the Company's request. The aggregate of the consideration and the expected completion adjustment was, at that time, sufficient to classify the transaction as a reverse takeover under the Listing Rules.

Premier and E.ON have now agreed to reduce the completion adjustment to $15 million and the aggregate consideration for the transaction payable by Premier to $135 million. This is a result of an increase of the dividend paid to E.ON prior to completion. The sale and purchase agreement has been amended to reflect the revised agreement.

On the basis of this lower aggregate consideration, the acquisition has been classified as a Class 1 transaction. We have requested that Premier's ordinary shares and 5% listed bonds resume trading on the London Stock Exchange from 7.30am on Monday 1 February 2016.

As a Class 1 transaction, the proposed acquisition will be subject to approval by Premier's shareholders. Premier intends to publish a shareholder circular and notice of meeting in due course, with a shareholder vote to follow during March/April. The proposed acquisition is also subject to the approval of Premier's US Private Placement noteholders and lending banks.

Nomura today upgrades its investment rating on Premier Oil PLC (LON:PMO) to buy (from neutral) and raised its price target to 80p (from 75p).