Updates

Premier Oil

September 2018

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.

While the clock is ticking on Iranian oil sanctions, President Trump has threatened OPEC to increase supplies and is believed to have instructed a partial draw down of the US’ strategic oil reserves. For now the two are cancelling each other out leaving brent around US$72 / barrel which is still pretty good for Premier. Its latest update confirmed unchanged full year guidance of 80-85,000 boepd for the year. Production averaged 76,100 boepd in the first half, a decline from 82,100 boepd a year ago reflecting the sale of Wytch Farm assets. Importantly its flagship North Sea Catcher field continues to produce at peak output of 60,000 boepd.Net debt was unchanged at US$2.65bn but is expected to fall US$300m-US$400m in H2 at curr ...

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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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