image

The best stocks to buy since 1993

Latest issue now available

SIGN UP NOW
Updates

Premier Oil

September 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PMO
  • Price:
  • 80.75p
Premier has recorded H1 production of 84.1kboed, +5% over estimates (+15% year-on-year) causing brokers to lift FY19 production estimates. This has been driven by the continued strong performance of the UK Catcher field at 69.4kboed gross in H1 including 99% FPSO operating efficiency. Also, mature UK fields such as Huntington continue to outperform. Premier plans three additional Catcher wells in 2020, which will help maintain oil production but the company clarified to us that they expect Catcher can maintain production levels through to end-2020 even without the new wells. The lightening rod is also confirmation of deleverage -  free cash flow was US$180m in H1 (US$300m forecast for year at US$65/b of oil) and will leave year end ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Related Articles

Premier Oil - Shares could spring back sharply (December 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

LIMITED PERIOD OFFER

SUBSCRIBE TODAY AND SAVE £40 WITH OFFER CODE 40OFFSCSW

To access our archive of articles and to receive current issues you need to subscribe

SUBSCRIBE NOW