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

OPEC Failure Turns Premier Oil Into Even Better Bargain!-By Motley Fool | Mon, 18th April 2016 - 15:19

"Oil Price Slumps As OPEC Talks Fail!" screamed the headlines this morning, and I feared the worst for my investment in Premier Oil (LSE:PMO) as I rushed to check the prices.

And you know what? Nothing much has actually happened. Brent Crude is still selling above $40 per barrel, and at $41.20 as I write it's really only lost the $3 to $4 it picked up in optimistic anticipation of a successful outcome at the oil-heads pow-wow. And, the truth is, very few of us expected any production-capping breakthrough anyway, not with Iran only just having been allowed to start selling again and not even having sent a delegate.

Down... a little

And the share prices? Premier is down 6% to 49.2p, but it's still 22% up since 7 April. And shares in Tullow Oil (LSE:TLW) have only lost a very modest 1.4% to 210p. Since the start of the year, Premier is up 14% and Tullow is up 25%. In my book, this is not a time to be crying.

Clearly Premier Oil's massive debts of more than $2.2bn mean it really does need to see oil prices rising. But the thing is, it doesn't really need big rises and it doesn't need them all that fast. Premier's lenders are still being very flexible and have extended its covenants to mid-2017. On top of that, abut a third of Premier's 2016 production still hedged at above $70, and its cash position is remaining pretty stable. Premier has pared its costs to the bone by ditching some non-core assets, and at the same time its acquisition of E.ON's North Sea assets for $120m, which are immediately cash generative, seems like a masterpiece of bottom picking to me.

an again ABCD and the change of direction at time of PMO retracement V oil price ( 8 February to 20 March )



...........

Blah Blah Blah Blah Blah Blah .

Oil holding steady at $43 pb. I thought I had missed the boat to sell my PMO stake, but it seems not, for the moment!

Hi (De)-mentor.
Funny that crude up PMO up (see my post of 15/4)-actually a no brainer as it is as simple as ABCD

Are you another stupid c#nt like - jimmy?
Read and talk about ABCD not the future

ABCD and the change of direction at time of PMO retracement V oil price ( 8 February to 20 March ) and the sell also happen till the end of April

during that time PMO had a retracement while oil kept rising, that was the point, not rubbish about what is doing now and mixing apples with pears

Classy man .

As far as I concern I have been the first and only one trading the stock several times at a profit, wile the rest saying it will not survive.

robin - i knew your comment would cue almost instant abuse! ........ so predictable!!

"The pot calling the kettle black" ........................

miss meddling could not stay away "nosey neighbours at MAM"


cynic - 18 Apr 2016 15:45 - 349 of 366
your unwarranted abuse of all and sundry is legendary (in your own lunchtime)
as you say, enough ..... so fuck off!

PMO - really rocking today and +10% on what i think is massive volume - 12.5m traded so far

however, we saw something similar with TLW a few days ago, and the volume was just that with no apparent sub-plot

in fact, TLW is up a handy 5% today and again on strong volume - 9.8m traded so far

If you are talking b@llocks

You will get a kick on the left testicle

Unless you are a sophisticated Lady

And someone then will call you B!tch

at the close ......

PMO and TLW
interesting ....... both have traded huge volumes, 21m and 20.5m respectively and both are also nicely up, 6.5% and a more modest 2% respectively

it would be easy to get sucked into chasing this one as it's up another 6% today, but with no news

Where is "robin"?
has the cat eat it?
it looks like the one liner, has got stuffed with it own words, for not seeing further away than its TAIL.

"Today Market report
Stocks in London were falling to noon as a slip in crude prices."

Oil prices falling and PMO well up 62p +4p, you theory is not working it seems.

robinhood - 15 Apr 2016 14:22 - 323 of 371
Do not think ABCD has got much to do with it reckon CPPB more relevant i.e. crude price per barrel
lol

"robinhood - 21 Apr 2016 11:31 - 362 of 371
Funny that crude up PMO up (see my post of 15/4)"

I am digging the grave for you, and I make sure I put plenty of dirt on top so you can rotten properly.

Funny how can I take the P!ss out of you for not being experience enough to spot when the abnormal is happening >>> ABCD and today.

Caught with the trousers down and nothing to show.
That is the difference between MEN and BOYS.

My LOL is capital letters >>>> robinhood

mentor just get on with it you have done ok here unlike a lot of your other picks ,you don't seem to like anyone else's view so just post away to your self .Good Luck.

Mentor aka Proselenes and a few other names. Always right (at least in his/her mind). Needs to get out more.

it's possible that someone is going to take a pop at this one, as not only is sp strong but yet again, so are volumes
but to buy on that supposition is very dangerous indeed
however, if someone should do so, then there'll almost certainly be a significant knock-on effect with the likes of TLW

Given the global downturn and expense / risk of drilling for new reserves, its sometimes better to buy an established E&P oiler like PMO. Good safe reserve assets in politically safe areas and a knockdown price tag.

Expect Tree-shakes to 'sack a few nervous investors', as PMO stock in demand.

Expecting takeover bids to increase on mid-cap oilers.

DYOR

HAb

that argument has been in place for at least 2 years, but surprisingly little M&A activity in that time
indeed, both PMO and TLW have been touted as prime targets at various times