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

Premier looks to have green shoots of recovery now firmly in place.

Some recent broker comment...

Deutsche Bank cuts prices in the oil & gas sector. It cut Tullow Oil price target to 720p from 755p; rating buy, Cairn Energy price target to 2860p from 2895p; rating buy, Dana Petroleum price target to 1335p from 1480p; rating buy, JKX Oil and Gas price target to 365p from 370p; rating buy, Premier Oil price target to 1360p from 1455p; rating buy and Venture Production price target to 425p from 490p; rating hold.

Wish it would recover.

I hold at a higher price!

I think it will DD.

Dollar weakness will lead to switch to oil and gold.

OPEC decision sometime today aswell.

fingers crossed.

Broker forecast very positive...

Premier Oil PLC

FORECASTS
2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
16-12-08 BUY 206.79 80.90 13.05 -35.10

Numis Securities Ltd
05-12-08 BUY

Evolution Securities Ltd
01-12-08 BUY 268.20 114.56 326.43 134.82

Canaccord Adams
21-11-08 HOLD

ABN AMRO
29-08-08 BUY 186.54 106.03 193.38 110.52

Seymour Pierce
16-05-08 BUY 87.07 27.57 101.60 51.21

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 229.33 98.30 193.38 110.52
1 Month Change 2.45 -2.15 11.84 22.94
3 Month Change 5.02 -10.28 -17.18 -2.93


GROWTH
2007 (A) 2008 (E) 2009 (E)
Norm. EPS 4.04% 57.40% 12.43%
DPS % % %

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)
EBITDA 141.80m 333.16m 371.04m
EBIT 141.80m m m
Dividend Yield % % %
Dividend Cover x x x
PER 14.22x 9.03x 8.04x
PEG 3.52f 0.16f 0.65f
Net Asset Value PS 241.19p 410.76p 732.48p

Blasting away again, this dana and Tullow have been cracking trades over the last couple of weeks.

And it looks like there could still be a lot left before the Middle east and russian disputes end.

And oil might not pull back even then....as a rebound is in the air !.

Going steady today, but could yet end with a glorious finish.

recent highlights from the Edison broker note...


http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=1648

You cant beat the market so Im out with some good profits.

will return when conditions are better.

loads err money, what a corker this has been over the last few days.

perhaps time to dust this one down ..... relative to TLW (don't ask me why, but i pair them), PMO has performed pretty poorly, mainly i suspect because they have had a string of duff drilling results ...... surely the odds must favour them next time around, mustn't they?

how much more puff left here in the immediate future? ..... 200 dma is now close at hand at the psychological level of 10.00 and figures, undoubtedly good/execellent, due out this coming thursday.

200 dma hit .... big rise over last week .... figures out on thursday ..... surely short odds of a pullback, so have banked that lovely profit too!

makes a change to have got out effectively at the top ..... shall watch for further weakness to buy back in

strong results + acquisition + deeply discounted rights isue

suspect share will get walloped today, but that could be a good chance to buy back in .... not sure of my own views on all the above

lol! ..... just shows what i know .... market seems to love both the results and the rights issue ...... sp opened around 960 and i momentariuly thought of buying ... spent a few mins on my e-mails and behold sp is 1040!

have rashly bought back in, partly (mainly?) through pure greed and partly because sp has now surged through 200 dma resistance

Market seems to do the opposite of what it should be doing which along with the rise in some tiddlers, suggests to me that this is a bottoming process. Go with the trend is the order of the day.

decided to take a modest but very acceptable profit ..... shall now watch to see what happens next

seems to have stabilised well at around 1042, so with NY opening quite strongly, assuredly helped by strong durable goods orders, there could well be more profit to be made (and banked)