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Premier Oil - Proposed take-over of Zama partner puts Premier into play™

January 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:
  • 75.5p
Although the shares have tracked Brent crude lower, the business itself marches on. Year to date production has averaged 78.4k barrels oil equivalent per day (boepd) versus 76.2k in H1 alone and the full year forecast for 2018 is now expected to be around 80,000 boepd.As usual the majority of production came from the UK (44.3k boepd) with the new Catcher field continuing to outperform original targets. It’s averaged 19.4k boepd for the period but a massive 26.5k since June reflecting strong reservoir. Premier says the FPSO provider will now increase the contractual oil production rate from 60 to 66k boepd gross (or 33k boepd net). Production from the Elgin Franklin area exceeded expectations averaging over 7k boepd but the Huntingt ...

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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.

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