POO sentiment This share is so dependant on POOWith the meeting on Monday it's uncertain where POO will go tend to be bearish at minute, shell made a brief recovery and back down again.I keep trading this due to the uncertainty I have one tranche at minute.See what happens Monday
Elastic This share is dying to push upwards, it is beyond comprehension why the market seems to largely ignore the discovery of a decade, along with other news flows.At some point all the pulling on the elastic band holding this share back is going to snap, and we're going to be catapulted into another dimension. -Upcoming news flows-Price of oil reading to bound upwardsOnly a matter of time. I've learned a lot from this share.
Re: ? I think right now the SP is firmly influenced by the qty of shorts, and the uncertainly re the upcoming warrants / dilution etc. POO has minor influence at present in my view. I think it will reverse suddenly at some point, but right now we could see low 50's first.
? The sp reflects an sp which would suggest Zama never happened.That whilst PMO is said to follow POO in reality it doesnt.It just strikes me as silly season.So much news on the horizon, and in the main all known great news.CatcherRefinancingTolmountZama apraisalZama deepIf this could be proven to be forward selling warrants then heads really should roll.Moreso, Huge fines should be issued to serve as a warning.Will it even be investigated? We know the answer to that.
Re: Tax Allowances - Albrad OK MV, looks like there's more flexibility than I originally thought with the allowances. Thanks for your research.
Upstream Articles UK-listed Premier Oil is preparing to issue invitations to tender to a shortlist of fabricators wishing to build the main infrastructure for the promising Tolmount gas field in the UK southern North Sea.It comes as heavily indebted Premier closes in on signing an innovative deal with an as-yet unnamed infrastructure fund to finance much of the projects capital expenditure in return for tariff payments once Tolmount begins producing.Chief executive Tony Durrant told Upstream that Premier is in fairly advanced discussions with an infrastructure fund, though he declined to name the party.A heads-of-terms is expected to be signed probably in the next couple of weeks, he said.The nature of the discussion we are having with the infrastructure fund is for them to own and fund the platform, the pipeline and the onshore terminal modifications, Durrant said.I dont think anything has been done like that in the North Sea before. I think obviously for Premier and its current balance sheet it is an innovative solution to funding the capex for the project."Once concluded, the deal would very significantly reduce the draw on Premiers balance sheet and Premiers only capital outlay would be development drilling and a small amount of project management costs.Tolmount, located in Block 42/28d, was acquired as part of the UK companys $120 million acquisition of E.On E&Ps UK portfolio.Durrant also confirmed that Premier is in the final stages of drawing up a shortlist of bidders that are hoping to build the minimum facility platform and the projects offshore pipeline.We have just held the internal tender board processing and we have brought it down to a shortlist for platform and pipeline," he said.We are just finishing off ITTs. We havent, as far as I know, informed all the potential interested parties for the platform or the pipeline, so we are a little bit away from that but over the next week or so that will become obvious.We are coming down to, as you can imagine, three or four shortlisted bidders for each of the packages.Tolmount is expected to be developed initially by four wells drilled from a minimum facility platform with wet gas transported via a new 20-inch export pipeline for processing at the Perenco-operated Dimlington terminal.The last three years have witnessed the entrance into the UK North Sea of several dedicated infrastructure operators financed by private equity and pension funds.In December, pension funds advised by London-based Ancala Partners agreed to buy the interests of US independent Apache in the Sage gas plant and pipeline.Earlier, private equity fund Antin Infrastructure Partners took a 99% stake in the major Central Area Transmission System, known as CATS, after buying both BG Groups and BPs interests. Another major investor is North Sea Midstream Partners (NSMP), formed in 2012 by affiliates of ArcLight Capital Partners, former Venture Production chief executive Mike Wagstaff and senior management of the UKs Teesside Gas Processing Plant, which have completed deals to acquire Total E&P UKs interests in the Fuka and Sirges pipelines and the St Fergus Gas terminal.Earlier this year, Premier selected Wood Group Mustang to carry out the offshore front-end engineering and design for Tolmount. Land & Marine is doing the beach crossing and Costain is working on the onshore FEED. Sanction is planned for the second quarter of next year and first gas from the project is expected late in 2020.Premier owns a 50% operating stake in Tolmount with South Korean-owned Dana Petroleum also owning 50%.Estimated resources in the main Tolmount field are about 450 billion cubic feet of gas, while Tolmount East, and another structure, Tolmount Far East, are estimated to hold about 250 Bcf and 150 Bcf of unrisked prospective gas resources, respectively.Premier said previously gas output is expected to reach about 200 million cubic feet
Tax Allowances - Albrad Sorry Albrad, not sure I agree that the US$4bn tax allowances are somehow restricted to individual PSCs. That doesn't make sense to me.If you look at the 2016 Annual Report and Financial Statements released 10/04/2017, it states on page 7 when discussing the acquisition of the EON assets:>>Realises operating and cost synergies as well as tax synergies, including accelerated use of Premiers current US$4 bn tax loss position<<Also on page 14 under Acquisition:>>Premier continues to assess new opportunities, especially in the UK where we have a tax-advantaged position<<And on Page 20:>>The Tolmount field is looking increasingly attractive and is likely to provide our next phase of growth. It meets our economic thresholds even at low gas prices, accelerates the use of our UK tax losses and allowances and fits well with our financial profile.<<This suggests to me the tax losses and allowances while restricted to UK revenue are not restricted to the PSC they were generated from.Just my view.GLA and DYORMV
Re: Tolmount just got to be a long term hold, real value in this share eventually must be reflected in the share pri
Re: Tolmount Shouldn't be long now before PMO release an RNS on Tolmount.Barclays Broker Target reiterated today at 72p.For the moment, it seems the shorters that got stung by the zama-1 news are doing their best to get the sp lower and lower. Test the liquidity of some eager beavers who bought at 63p/64p. See if they can close out a few shares at mid 50's rather than mid 60's.Assuming PoO stcks around $49/$50pb and based on previous levels, PMO's sp is currently down 8p against PoO's 20% bounce and zama-1 never happened... according to the market.In this casino anything can happen. 72p looks more likely to me than 52p come August.Roll on news flow pleaseHUB
Tolmount Out to tender, platforms to be funded by Infrastructure fund.
Re: Sunday Times Premier Article Re: MaxValue,Good points. I wasn't saying there isn't inherent value in PMO just that the type of fields we have are the types of fields the majors have been offloading over recent years (SL and Zama aside).As for your tax losses and allowances, I'm pretty certain you'll find those are tied to individual PSCs, so a major couldn't just pick up PMO for a dime and utilise the tax losses against their own (other) UK production. I might be wrong on this point - maybe someone else can confirm?
Peel hunt Target 80p Peel Hunt generally quite bearish across E&P's which makes their 80p PMO target all that more interesting.20 Jul 17 Premier Oil PLC Peel Hunt Buy 59.38 90.00 80.00 Retains
Re: Mention of Zama here I think Art is telling porkies! He's talking it down as his US paymasters will not want Mexico licence prices going sky high.Don't you just love how the experts seem to want to play down huge discoveries.Big oil companies want into Mexico big time and I suspect Art would be telling a different story had a few US oil companies already got their hands on nice licence deals.Mexican's might want to pay for their own wall to be built soon simply to keep the US oil company snouts out!HUB
Re: Sunday Times Premier Article Re: Emerald CShorttracker.co.uk has the current disclosed short position (over 0.5%) in Premier at 8.29%Think the article might be out of date but who knows!GLA & DYORMV
Re: Sunday Times Premier Article Re: AlbradYou ask why Premier?How about:RNS 12/01/2017 - Trading and Operations Update>>Premier continues to benefit from its substantial UK corporation tax loss and allowance position with estimated losses and allowances of $4 billion carried forward at 31 December 2016.<<What do you make of that?I understand it as, after the current net debt position of:RNS 13/07/2017 - Trading and Operations Update>>Net debt has reduced to $2.74 billion<<And the current Market Cap of:Shares in issue = 510,824,261Market Cap @ 59p = £301.39m @ $1.30US = $391.81mSeems to me the tax allowances are greater:$391.81m + $2740m = $3131.81mSo if you're a major with uk production would it make sense to buy Premier, pay off its debt and write the whole cost off against your existing tax burden?So all the production and reserves for £0 ??? Is that right?GLA and DYORMV