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

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

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

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 .
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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 .

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?

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.

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?

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

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.

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.

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?

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 )

boy done good!

Proposed acquisition of the EPUK Group
On 13 January 2016, Premier announced that it had entered into a conditional agreement for the acquisition of the EPUK Group from E.ON Beteiligungen GmbH for a net consideration of $120 million plus a completion adjustment. On 1 February 2016, Premier announced that the amount of the completion adjustment had been agreed at $15 million and that the aggregate cash payment payable by Premier was therefore $135 million. The EPUK Group holds all of E.ON’s UK upstream oil and gas assets which are located in the Central North Sea, West of Shetlands and the Southern Gas Basin.
Subject to the satisfaction of certain conditions, it is currently expected that the completion of the Acquisition will occur by the end of April 2016. The terms and conditions of the Acquisition are contained in the Acquisition Agreements, which are summarised in Part III of this document.

http://www.premier-oil.com/premieroil/dlibrary/panda/Eva-FINAL-CIRCULAR.pdf

StockMarketWire.com
Premier Oil director, Falkland Islands and SE Asia, Neil Hawkings, has decided to step down from the board with effect from 30 June.

He will continue to work for Premier on a consultancy basis, with a particular focus on the Falkland Islands and SE Asia business units and will continue as a member of the Executive Committee. Independent non-executive directors David Bamford and Michel Romieu will stand down from the board at the close of the annual general meeting on 11 May.

Chairman Mike Welton said: "It is incumbent on us, in the current commodity price environment, to consider the appropriate size of board membership. I would like to thank David Bamford and Michel Romieu for their significant contribution to the Board and the Company during their service period as Board members and to wish each of them well for the future.

"I would particularly like to thank Neil Hawkings, who has been an executive Board member for over 10 years. I am delighted that Neil will continue to play a key role going forward in the business units and projects where his expertise is most valuable."

Was PMO on the ABCD?
Are now on a double TOP?

a basic ABCD from the initial move from 25p on 10th Feb to 47p on 22nd Feb........then a 61.8% Fibonacci retrace to 33p on 2nd March......then a 127% Fibonacci extension to the next high where was a good time to take profit at point D............the Sp then declined 38.2%

Do not think ABCD has got much to do with it reckon CPPB more relevant i.e. crude price per barrel
lol

I think your right :)

By Dmitry Zhdannikov and Henning Gloystein

LONDON/SINGAPORE, April 15 (Reuters) – Oil prices fell on Friday in thin trade as analysts said a weekend meeting of major oil exporters would do little to help to clear global oversupply quickly, even though it would provide a floor for the market.

Oil producers led by top exporters Saudi Arabia and Russia will meet in Doha, Qatar, on Sunday to discuss freezing output around current levels in an effort to contain a glut exacerbated by production that exceeds demand by about 1.5 million barrels a day.

It would be the first joint action by major OPEC and non-OPEC producers in 15 years, though Iran has refused to participate, saying that it wants to rebuild its output to levels achieved before imposition of the recently lifted economic sanctions.

"Momentum is building behind an agreement that likely excludes Iran (and potentially Libya). While there will likely be little effect on the physical market an agreement would represent an important psychological shift in setting oil prices," investment bank Jefferies said on Friday.

Brent crude futures were down 2 percent at $42.93 by 1330 GMT. U.S. West Texas Intermediate (WTI) futures were also down 2 percent, trading at $40.63, having lost as much as 3 percent earlier in the day.

Yet with discussions among producers focusing on freezing output rather than cutting it, most analysts said they had little hope for a deal that reduces the global oversupply.

The glut has pulled down crude prices by as much as 70 percent since mid-2014.

"The Doha meeting does not materially change the oil market balances," Barclays said.

"If recent supply-side fundamental support holds and the market's expectations for a credible statement and commitment are met, the meeting could help prevent prices from falling back to the low $30 range." Consultancy Petromatrix said it saw the Saudis as a G20 member pushing for a deal to freeze output because both the IMF and the U.S. Federal Reserve are growing increasingly impatient about low oil prices.

"Saudi Arabia has already frozen production at January levels and it now needs other countries to make some concessions," said Olivier Jakob, of Petromatrix.

"Otherwise it fears that it will be forced by the G20 and its international institutions to cut production to stabilise oil prices – and cutting production is something it does not want to do as Iran comes back." Energy consultancy Wood Mackenzie said that even if a deal is agreed, it does not expect a genuine freeze to occur during the remainder of 2016.

Instead, Wood Mackenzie said it expects OPEC output to rise by 0.5 million barrels per day year on year in 2016, with most of that growth coming from Iran and Iraq, both of whom have indicated plans to increase output this year.

I think you two talking rubbish

re - Was PMO on the ABCD?

ABCD has already happen and that is already explain on post 322, oil price was rising and PMO was falling as the share price was on the retracement B to C ( end February ), so read before and well

Saudi-Iran tensions scupper deal to freeze oil output
DOHA | BY RANIA EL GAMAL AND REEM SHAMSEDDINE

Saudi Arabia's Oil Minister Ali al-Naimi arrives to a meeting between OPEC and non-OPEC oil producers, in Doha,

A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

The development will revive oil industry fears that major producers are embarking again on a battle for market share, especially after Riyadh threatened to raise output steeply if no freeze deal were reached.

Iran is also pledging to ramp up production following the lifting of Western sanctions in January, making a compromise with Riyadh almost impossible as the two fight proxy wars in Yemen and Syria.

Some 18 oil nations, including non-OPEC Russia, gathered in the Qatari capital of Doha for what was expected to be the rubber-stamping of a deal - in the making since February - to stabilise output at January levels until October 2016.

But OPEC's de facto leader Saudi Arabia told participants it wanted all members of the Organization of the Petroleum Exporting Countries to take part in the freeze, including Iran, which was absent from the talks.

Tehran had refused to stabilise production, seeking to regain market share post-sanctions.

After five hours of fierce debate about the wording of a communique - including between Saudi Arabia and Russia - delegates and ministers announced no deal had been reached.

"We concluded we all need time to consult further," Qatar's energy minister Mohammed al-Sada told reporters. Several OPEC sources said if Iran agreed to join the freeze at the next OPEC meeting on June 2, talks with non-OPEC producers could resume.

Russian oil minister Alexander Novak called the Saudi demand "unreasonable" and said he was disappointed as he had come to Doha under the impression that all sides would sign the deal instead of debating it.

Novak said Russia was not shutting the door on a deal but the government would not restrain output for now.

Russia is a key ally of Iran and has been defending Tehran's right to raise output post-sanctions while also supporting the Islamic Republic in many of its conflicts with Riyadh.

TOUGH SAUDI STANCE

The failure to reach a global deal could halt a recent recovery in oil prices.

"With no deal today, markets' confidence in OPEC's ability to achieve any sensible supply balancing act is likely to diminish and this is surely bearish for the oil markets, where prices had rallied partly on expectations of a deal," said Natixis oil analyst Abhishek Deshpande.

In December, OPEC failed to agree on output policy for the first time in years after Iran disagreed over a production ceiling proposed by Saudi Arabia, arguing again that it wanted to boost output post-sanctions.

"Without a deal, the likelihood of markets balancing is now pushed back to mid-2017. We will see a lot of speculators getting out next week," said Deshpande, who added that prices could fall close to $30 per barrel.

Brent oil LCOc1 has risen to nearly $45 a barrel, up 60 percent from January lows, on optimism that a deal would help ease the supply glut that has seen prices sink from levels as high as $115 hit in mid-2014.

Amrita Sen of Energy Aspects said oil prices could fall below $40 on Monday in a knee-jerk reaction.

"While today’s lack of a freeze deal has no negative impact on balances - since Iran is really the only country likely to raise output substantially - it has a huge negative impact on sentiment especially as the deal had been hyped up so much," she said.

Gary Ross, the founder and executive chairman of New York-based consultancy PIRA, said the failure to reach a deal was negative but would not have a long-lasting impact.

"The market has recently moved up due to tightening balances. We see geopolitical risks to supply rising, we see U.S. production declining. In many respects, the rebalancing has already started," he said.

Saudi Arabia has taken a tough stance on Iran, the only major OPEC producer to refuse to participate in the freeze.

Deputy Crown Prince Mohammed bin Salman told Bloomberg that the kingdom could quickly raise production and would restrain its output only if Iran agreed to a freeze.

Iran's oil minister Bijan Zanganeh said on Saturday OPEC and non-OPEC should simply accept the reality of Iran's return to the oil market: "If Iran freezes its oil production ... it cannot benefit from the lifting of sanctions."