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Premier Oil - Can it go as far (or further) than Cairn ?? (PMO)     

pjstanton - 21 Jan 2004 13:43

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

draw?epic=PMO

mentor - 11 Apr 2016 13:46 - 300 of 543

going places since last Friday 48.50p +2p

oil price on the way up also

mentor - 11 Apr 2016 23:00 - 301 of 543

Chart shows what’s really driving crude-oil prices - By Mark DeCambre - Apr 11, 2016 16:13

Inverse relationship with dollar holding strong

When one goes up, the other goes down.
Supply glut? Worries about waning demand? All of these factors may have contributed to crude oil losing nearly two-thirds of its value since its peak in June 2014. But a chart tweeted on Monday by Charlie Bilello, director of research at Pension Partners, highlights another key factor swaying crude’s gyrations.

MW-EJ992_dollar_20160411152602_NS.jpg?uu

Bilello’s graphic shows that while oil has tumbled more than 60% over the course of the past year and a half, the dollar—as gauged by the ICE U.S. Dollar Index DXY, -0.20% —the has climbed nearly 17%. The data underscore a striking negative correlation between the dollar and crude futures CLK6, +1.61% which are priced in dollars. In other words, the stronger the greenback, the more expensive it makes oil to buyers using other monetary units.

The fact that the buck has influenced crude prices in that way isn’t surprising, but the degree to which the currency weighs on oil is striking. Oil on Monday ended above $40 a barrel for the first time in nearly three weeks on Monday.

Bilello told MarketWatch that the moves in the dollar and crude may be catching some investors flat-footed since few expected a lower dollar in an environment in which the Federal Reserve declared itself on a path toward interest-rate normalization at the end of 2015.

Crude’s upswing may also be a surprise to investors who believed supply strains might continue to dog investors. MarketWatch veteran Myra Saefong explains why crude prices have rallied recently. A meeting of major oil producers in Doha on April 17 to discuss a freeze in oil output also is being followed closely since it could stabilize prices.

“If this reversal continues, [it] will have an impact across many asset classes. Entering Q1 earnings, [we] should start to see this help S&P 500 earnings on the margin as higher dollar/lower Crude was weighing on earnings over the past year,” Bilello said.

The chart also recalls a research note from a team of Morgan Stanley analysts led by Adam Longson, head of energy commodity research which made the case in January that traders have applied too much blame in tumbling commodity prices like oil on market fundamentals, rather than the dollar. Indeed, some analysts had argued in 2014 that the dollar’s rally was the primary driver of the crude rout.

Lingering concerns about economic conditions overseas have prevented the Fed from further tightening monetary policy, so far. For now, that seems to be good news for those hoping to see oil ramp higher and bad news for dollar bulls.

mentor - 12 Apr 2016 09:46 - 302 of 543

52.75p +2.25p

another push up, as is looking for 55p at this rate as next round figure
oil prices on the rise is helping as one would expect.

HARRYCAT - 12 Apr 2016 09:53 - 303 of 543


200 DMA might prove to be the resistance. Am looking for 70p if possible, but not confident at the moment. Oil price also crucial. I have a feeling that PMO's next set of results aren't going to be pretty.

mentor - 12 Apr 2016 10:12 - 304 of 543

re - I have a feeling that PMO's next set of results aren't going to be pretty.

Is that a silly thing to say?
certainly is out of order, not even the large company's, BP, Shell, are making ends meet at this silly oil prices at the moment.

jimmy b - 12 Apr 2016 10:18 - 305 of 543

mentor why are you so arrogant ? HARRY posted a sensible post ,why do you have to jump on anything anyone says .

mentor - 12 Apr 2016 11:01 - 306 of 543

why don't you .......

Harry has a mouth to speak, just like Cameron but one has to say the right thing, not silly things, and that is why others can say so, just like I did.

right to repply

... ... go away to the - THE TALK TO YOURSELF THREAD. - if you have nothing to talk about here.

look over you shoulder, and you will see, you are just a little boy .........
----------------

jimmy b - 11 Apr 2016 10:58 -
Is Trevor Phillips a little Englander Stan ? i know you won't have the brain to answer that.
----
jimmy b - 11 Apr 2016 12:52 - 70000 of 70053
PS my memory is good i'm not a piss head.
-----------
jimmy b - 11 Apr 2016 15:38 -
grannyboy ,he never answers any question ,just like Fred ,that would mean having some kind of opinion .
I think they are both drunks .

HARRYCAT - 12 Apr 2016 11:01 - 307 of 543

PMO has a market cap of £237m.......BP has a market cap of £65,314m.
It's going to be much easier for BP to ride the bad times than it is for PMO.
So a bad set of results from PMO are going to hit the sp harder.

cynic - 12 Apr 2016 11:06 - 308 of 543

harry - i think oilies in general are a pretty dangerous place to be, but i agree that the likes of BP and Shell (RDSB) are unlikely to give you sleepless nights

HARRYCAT - 12 Apr 2016 11:08 - 309 of 543

I agree. I am just trying to trade this stock. Not a long term holder.

jimmy b - 12 Apr 2016 11:20 - 310 of 543

I agree ,any small oiler is dangerous , BP are paying a large divi and will not go bust ,i used to trade the likes of PMO and TLW but have left them alone of late .
-----
mentor as i said before you lost 50% on several penny stocks at the end of last year so your not so clever as you think ,you also started a beef with me for no reason ,now your trying to do it with others .

mentor - 12 Apr 2016 11:30 - 311 of 543

All the small to medium companies have come out with BAD results, and that is not surprise, as I said earlier due to the low oil prices on the past few month and still now. were most companies do not make any money as such.

But despite that their share prices have been rising as the oil price is bouncing back as well.

One to see as an example not long ago, as I bought stock at 14p ENQ and sold at 21p two week later, for now ridding high at 30p . Last month came out with large losses and impairment of 1,2Billions, but the news to go forward were positive.

The case for PMO are much the same as ENQ with huge debt, but PMO are on top waiting for news of Solan coming into production any time soon

By the way there was a 1 share on the ticker ( meaning news on the way any time ) tomorrow?

Chart.aspx?Provider=EODIntra&Code=PMO&SiChart.aspx?Provider=EODIntra&Code=ENQ&Si

mentor - 12 Apr 2016 11:50 - 312 of 543

re - BP being safe share

or yes very save and paying an over the top dividend, but I am looking for next year to pay capital gains and if possible plenty( not like CAMERON ( Dodgy Dave ) and that is only possible with companies that have been hammered by their debt burden, and now there is light at the end of the tunnel, due to the bounce back on the oil price.

that means those companies like PMO, ENQ, TLW, can double and triple on no time, but do not expect that from BP.

I will rest my case now, and looking at my open positions for any more buying or maybe selling.

Chart.aspx?Provider=EODIntra&Code=BP.&Si

cynic - 12 Apr 2016 11:51 - 313 of 543

certainly the russkies are feeling the heat of continuing low crude prices, and us shale producers similarly (i'm sure)
there is also talk of opec countries limiting their production ...... the reality might prove different from the words, as so often in the past!

on the basis of the above, i suppose it's not unreasonable to argue that crude prices will rise at least a bit (leave $ roe out of the equation)
however, with world economies in a dreadful state, will demand actually improve and thus any rise (to say $50) be sustainable?

mentor - 12 Apr 2016 15:29 - 314 of 543

Close one position before lunch, today was my last day of the T+20 and as I was well in profits there is not much point on paying for the stock, anyway I am keeping the other one with some days still left.
The oil price at that time was weakening a bit also, though so far is keeping well considering the rise lately.

oil price
5txAYPFI

mentor - 12 Apr 2016 23:12 - 315 of 543

Oil Breaks Key Technical Level for First Time Since 2014

U.S. bench mark oil settled above the 200-day moving average for the first time since July 2014 as U.S. production continues to decline. West Texas Intermediate crude ended at $42.17, the highest level since November. Production dropped to 9.01 million barrels a day in the week ended April 1, the lowest since Nov. 2014, according to the EIA.

-1x-1.png

HARRYCAT - 13 Apr 2016 08:16 - 316 of 543

StockMarketWire.com
Premier Oil has confirmed first oil from the Solan field was safely achieved on April 12.

The first producer well (P1) is being naturally flowed at a deliberately restricted initial rate.

It is planned that the well will remain free flowing for a short time after which the ESP (pump) will be turned on.

Following this initial period and, taking advantage of the availability of the Superior Flotel, over which Premier has contractual options until the end of May, Premier intends to carry out a planned production shut down to complete the final commissioning of the water injection plant, the tie in of the second water injection well (W2) and preparation for the tie in of the second producer well (P2).

The Ocean Valiant rig is currently drilling the second producer well (P2y), where 1,500ft of high quality reservoir sands have been intersected and which is expected to be completed and tied-in by mid-year.

Production from the field is expected to build up to an anticipated production rate of 20-25 kbeopd in the second half of 2016 when both pairs of producer-injector wells will be on stream.

mentor - 13 Apr 2016 08:40 - 317 of 543

I was not only right in 1 but two of my comments yesterday, news tomorrow and Solan


mentor - 12 Apr 2016 11:50 - 312 of 316 edit this post

The case for PMO are much the same as ENQ with huge debt, but PMO are on top waiting for news of Solan coming into production any time soon

By the way there was a 1 share on the ticker ( meaning news on the way any time ) tomorrow?

mentor - 13 Apr 2016 13:40 - 318 of 543

Close 2nd position as the sell on the news seem right again today.
Had a good run since and PMO normally does that, a good run and then a good retracement, waiting for that now.
a 25.2% return on 13 days ( 2 weeks )

cynic - 13 Apr 2016 14:23 - 319 of 543

boy done good!
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