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

Its been a long time since anyone has posted to this thread and since last May, the share price has risen well. It's surprising that there is no interest for PMO on the Moneyam BB's. This company has some interesting exploration sites which will come good this year. Many comentators in the industry feel the share price has far to go.

Any interest amongst Moneyam investors as to its potential?

I have a lot of interest in Premier but I am not going to speculate as to what price it might achieve in the next year. That all depends on the success or otherwise of its drilling program. However, I'm not selling!

US crude oil stockpiles hit an eight-year high

By Kevin Morrison

Published: June 21 2006 18:46

US crude oil inventories rose to their highest level in eight years, US government data has revealed.

A weekly report by the US Department of Energy showed US commercial crude stockpiles rose 1.4m barrels to 347.1m barrels in the week ended June 16, its highest since May 1998, when US benchmark oil futures were trading at less than $15 a barrel, about a fifth of current prices.

US oil inventories have risen to such a level that some analysts are predicting they are close to reaching capacity in the worlds largest oil consuming market.

The increase in stockpiles was boosted by a rise in US crude imports of 447,000 barrels a day last week to an average of 11m b/d, suggesting there is no shortage of oil supplies at the moment, in spite of disruptions in Nigeria, a key oil exporter to the US, and in Iraq.

There is simply no way that a state-owned company in Mexico is going to table a bid for PMO.L.
It's ludicrous!!!! (almost laughable)
The MM's are taking the small punters for a ride.

Metals are good value at the moment.

this was my posting from a few days ago:


The only source of this buy-out rumour has been one reporter from the 'Independent' newspaper. No-one else has made any such claim. This is because the rumour is groundless and, as such, it has no credibility whatsoever. If it was credible then it would have been corroborated by other sources.

A good clue is found in the claim that the buy-out offer would come in friday morning. It clearly did not. Thus, somebody somewhere is obviously interested in spreading incorrect information. Do we really need to ask why?

The truth is, there is simply no way that a state-owned company in Mexico is going to table a bid for PMO.L.

It's just too ludicrous for words!!!!  (almost laughable)

The MM's are taking the smaller more gullible punters for a ride.

Once the rumour is seen for what it is the sp is going to sink - and, in a market where the oil price is also going down daily, 'sink' could very well = plummet !!!

....and now this:



Daily Telegraph - 05/09/2006
Market report: By Yvette Essen


Hopes of a 13-a-share bid for oil explorer Premier Oil receded.
The shares fell 15p to 10.42.

Premier Oil says no approach from Shell

By Tom Bergin


LONDON (Reuters) - Oil company Premier Oil has not received a takeover approach from Royal Dutch Shell, Premier's Chief Executive told Reuters on Tuesday.

Earlier, a Dow Jones Newswires report said that Shell was seeking bank advice regarding a possible bid for Premier Oil.

"I have no knowledge of any talks ongoing with Shell. We have not received any approach from Shell," Simon Lockett said, speaking in a telephone interview from Kuwait.

A spokesman for Shell said the company did not comment on market speculation.

just a thought .... what is Mr Lockett doing in Kuwait? Not a tourist destination.

Comments welcome.

.

Off she goes.

the "sophisticated" chart that i have in my sticky fingers indicates that if sp can now break upwards from exactly this level, then next serious resistance is about 1365.

as TLW have gone exceedingly quiet, have switched from there to here, though will keep TLW on watch, especially if it looks likley to break back up through 400

PMO has been very dull in recent months, but there has been a sudden surge in sp, though "trades" show nothing significant ..... chart below is still nothing to write home about, but just perhaps PMO has at last got some good news imminent

sudden and serious surge today but no published news ...... could be many reasons, but from a chart point of view, 200 dma resistance swiftly approaching

very curious indeed ..... sp rockets by about 1.00 but volume is quite light (could be more demand still hidden i guess) and no rns ..... in comparison, TLW has scarcely moved