Updates

Premier Oil

September 2016

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.

The Brexit result as well as an unexpected increase in US oil reserves has sent Brent crude back down below US$44 a barrel, which is hardly ideal for Premier. Nevertheless Premier’s trading update for the six months ended 30 June noted strong average production of 61,000 barrels oil equivalent per day (boepd) with recent record rates above 80,000 boepd. Full year production is now expected to be “at or above” the upper end of earlier guidance of 65-70,000.Encouragingly, the two big North Sea development projects are on track. Solan (100% owned) has reached 11,000 boepd from its first well and the second producer well has been successfully tested so production should continue to ramp up ultimately to 20-25,000 boep ...

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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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