Premier Oil plc - Explorer & Producer

was heute morgen im PMO Share Chat so geschrieben wird:
http://www.lse.co.uk/ShareChat.asp?page=4&ShareTicker=PMO

Fakt ist, dass der Kurs schon ein Weilchen nur mehr eine Richtung kennt und zwar nach unten. Die Refinanzierung zieht sich schon ewig lange hin, das ist Gift für den Kurs. Wir brauchen endlich was Handfestes, nicht seit Monaten diese "vielleicht", "wahrscheinlich" und "wenn dann".  

Share price weakness

24 Feb 2017

Premier notes the recent weakness in its share price.

As per the timetable previously guided, the Private Lenders are currently going through their formal credit committee approval process in respect of locking up to the terms of the refinancing and good progress is being made. Premier is also in the process of finalising agreement to the amended terms of its convertible bonds with additional significant bondholders who are also expected to lock up shortly. Premier expects to provide a refinancing update to the market in the next few days.

Current operational performance remains strong with production year to date averaging over 79 kboepd against market guidance of 75 kboepd, which remains unchanged.

Enquiries

Premier Oil plc
Tony Durrant, Chief Executive
Richard Rose, Finance Director
Tel: 020 7730 1111

Bell Pottinger
Lorna Cobbett
Henry Lerwill
Tel: 020 3772 2570

dass wir in ein paar Tagen schlauer sind.
Nur nicht nervös werden!

und Marktmanipulation betroffen. London South East ist voll davon!
http://www.lse.co.uk/ShareChat.asp?page=1&ShareTicker=PMO
Geht mal ein paar Seiten zurück.

Nr.1
Premier Oil agrees refinancing terms with some bondholders
Wed, 1st Mar 2017 13:08

http://www.lse.co.uk/...grees_refinancing_terms_with_some_bondholders

Nr. 2
UPDATE: Bondholder "Deeply Dissatisfied" With Premier Oil Terms (ALLISS)
Wed, 1st Mar 2017 14:33

um Öl- und Gas-Deals zu beschleunigen/vereinfachen.
Kommt uns sehr entgegen. Aktie steigt gerade wieder.

http://www.lse.co.uk/...w_tax_to_speed_up_North_Sea_oil_and_gas_deals

Britain to review tax to speed up North Sea oil and gas deals
Wed, 8th Mar 2017 10:58

By Karolin Schaps

LONDON, March 8 (Reuters) - Britain will look at ways of making it easier to sell North Sea oil and gas fields by changing tax rules in order to keep them producing for longer, the finance ministry said.

The move, which is due to be announced in finance minister Philip Hammond's budget on Wednesday, follows a call by the industry's oil lobby group for a change to decommissioning tax rules that have prevented deals in the North Sea.

Owners of oil and gas assets get tax relief on the future costs of dismantling them, but as assets are sold the relief cannot be passed on to new owners.

"The UK government will publish a discussion paper and establish a panel of industry experts to consider how tax can assist sales of oil and gas fields, helping to keep them productive for longer," the ministry said in a statement.

The North Sea has seen an uptick in deals this year, mainly due to the $3.8 billion acquisition of a large chunk of Shell's assets by private equity-backed Chrysaor.

But deals would have been concluded more quickly and others would come to fruition if the decommissioning cost taxation regime is updated, Mike Tholen, economics director of Oil and Gas UK, said.

"For (new buyers) it would be easier for the deals they are thinking about if the ability to release decommissioning tax relief between the vendor and the purchaser was part of the tax regime," Tholen added.

Many traditional North Sea operators, such as Shell or BP, are gradually winding down ownership of old North Sea assets as smaller, more nimble companies snap them up to apply new technologies that help extract more oil or gas.

"The right assets need to be in the right hands to maximise economic recovery late in the life of the North Sea," said EY's head of oil and gas tax, Derek Leith. (Editing by Alexander Smith)

Na also!

Refinancing update

09 Mar 2017

Premier is pleased to announce that it has entered into lock up agreements with the requisite majority of each of the lenders to the RCF, FLS Term Loan and US Private Placement notes (in total 87% by value) to the terms of the proposed refinancing. The lock up agreements, which will become effective once the Schuldschein lock up process has completed, will commit the parties to vote in favour of the amended terms. Currently, nine of the ten holders of the Schuldschein loans have entered into lock up agreements while the remaining holder has recommended the proposed terms to its credit committee and its approval process is underway. Once this holder is locked up, the Schuldschein holders will also be committed to implement the refinancing.

As a result of the lock up processes, the Group will have the requisite level of support to commence the Scottish Court schemes of arrangement by which the amendments to the terms of the RCF, FLS Term Loan, US Private Placement notes and Retail Bonds will be implemented. The Court schemes will require a vote of more than 75% by value of the RCF, FLS Term Loan, US Private Placement notes and Retail Bonds present and voting. This is more than covered by the value that will be bound under the terms of the lock up agreements referred to above.
(.......)

Tony Durrant, CEO, commented

“Based on the support now received, we can look forward to completion of the refinancing. Documentation to shareholders and public bondholders will be issued in due course.”

2016 Annual Results

09 Mar 2017

Tony Durrant, Chief Executive, commented:

“Premier has a robust business which continues to deliver excellent operational performance. In 2016 we achieved record production, maintained a low operating cost base and completed the highly value adding acquisition of E.ON’s UK upstream portfolio. Significant progress was made on our operated Catcher project which will deliver a further step change in our production levels once on-stream later this year. Our complex refinancing has created uncertainty and volatility but is now nearing completion. Looking forward, our strong and growing cash flows will reduce our debt and in due course allow us to invest in new projects to deliver value for all our stakeholders.”

(......)

Aber die Aktie interessiert das nicht. Vielleicht weil zeitgleich der Ölpreis wieder einbricht. Kannst du mal eine Einschätzung zum Aktienkurs geben, Palaimon?
 

bei 60 GBp, außerdem viele Shorties unterwegs, auch der fallende Ölpreis hat negativen Effekt.

Dann hat der Broker Jefferies International das Kursziel gesenkt auf 90 GBp, immerhin ja über 1 Euro, aber von 106 GBp, also rund 15%. Aber Kaufempfehlung bestätigt.
http://www.iii.co.uk/stockmarketwire/397025/...il-plc?context=LSE:PMO

Die Shorties sind
Canada Pension Plan Investment Board 0.52% 2016-04-01
Capital Fund Management SA 0.61% ↑ 0.07% 2017-03-01
GLG Partners LP 1.21% ↓ -0.29% 2017-03-03
Marshall Wace LLP 2.03% ↑ 0.13% 2017-03-01
Polygon Global Partners LLP 0.52% 2017-03-08
Systematica Investments Limited 1.21% ↑ 0.02% 2017-03-06
Whitebox Advisors LLC 1.29% ↓ -0.05% 2017-01-09
Total 7.39%

Aus lse:
http://www.lse.co.uk/ShareChat.asp?page=4&ShareTicker=PMO

auch die ganz Großen, aber die Kleinen natürlich um so mehr!

Dann haben wir noch das schwache  Pfund, das nicht nur unter dem nun auch vom Parlament abgesegnetem Brexit leidet, sondern auch darunter, dass Schottland ein neues Unabhängigkeits-Referendum anstrengen will.

>>>A number of oil related stocks ended lower because of the slide in crude prices. Premier Oil fell 6.8%, Nostrum Oil & Gas fell 6.3%, and Tullow Oil fell 5.4%. The heavyweight oil companies were also hit, with Royal Dutch Shell 'B' closing down 1.5%, 'A' down 1.3%, and BP down 1.4%.

Oil will continue to be in focus, with the American Petroleum Institute's weekly crude oil stocks at 2030 GMT. <<<

Diese Nachricht hat dem Kurs auf die Beine geholfen.

Refinancing update

15 Mar 2017

Premier today announces that the final Schuldschein loan holder has entered into the lock up agreement with respect to the terms of the proposed refinancing.  As a result of this, the lock up agreements entered into by the Private Lenders (comprising the RCF, FLS Term Loan, US Private Placement notes and Schuldschein loans) and the convertible bondholders have now become effective, committing the parties who have locked up to vote in favour of the refinancing.

Hier werden Winners und Losers aufgeführt. PMO gehört zu Ersteren!

WINNERS & LOSERS SUMMARY: Marshalls Shares Rise On Rock-Solid Margins
Wed, 15th Mar 2017 10:27

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
(.......)
MAIN MARKET AND AIM - WINNERS
(......)
Premier Oil, up 10%. The North Sea explorer said the last Schuldschein loan note holder has entered into the lock-up agreement related to the company's proposed refinancing, resulting in all of the lock up agreements signed with other lenders becoming effective. Last week, Premier Oil said lenders that held 87% of its total outstanding debt had entered into lock-up agreements. The company said it was only waiting on the final Schuldschein lender.

Share Price: 63.50 Bid: 63.25 Ask: 63.50 Change: 8.75 (+15.98%) Riser - Premier Oil
Spread: 0.25 Spread as %: 0.40% Open: 59.00 High: 63.75 Low: 58.25 Yesterday’s Close: 54.75
http://www.lse.co.uk/...hat.asp?ShareTicker=PMO&share=premier_oil

Premier Oil gushes higher on Peel Hunt initiation
Thu, 16th Mar 2017 09:44

(ShareCast News) - Premier Oil gushed higher for the second day in a row on Thursday as Peel Hunt initiated coverage of the stock with a 'buy' rating.

On Wednesday, Premier shares surged after it said it had secured the final lock-up for its refinancing bid.

The brokerage said that with Premier now expected to complete its refinancing in the short term, the focus can shift to delivering value to shareholders through growth and debt reduction.

Peel said that securing extended maturities and covenants will enable Premier to invest in development-led growth while reducing net debt, with its modelling suggesting a reduction of 10% to $2.5bn by the end of 2020.

"The portfolio provides flexibility to outperform our forecasts and we see potential for a share price re-rating as rising production and falling opex are reflected in improved cash flows. We also flag near-term exploration upside."

Peel Hunt recognised that Premier remains highly geared and therefore the share price remains sensitive to further oil price weakness, however it set its target price at 90p, representing 40% upside to the current price.

At 1020 GMT, the shares were up 6% to 67.31p.

http://www.lse.co.uk/...ier_Oil_gushes_higher_on_Peel_Hunt_initiation

Premier Oil Sets Conversion Price For Bonds At 20% Premium (ALLISS)

Thu, 23rd Mar 2017 08:55

LONDON (Alliance News) - Premier Oil PLC on Thursday said it has amended the conversion price related to its USD245.0 million convertible bonds, with the premium of 20% unchanged.

Premier Oil is edging closer to refinancing its debt after striking agreements with bondholders and, at the start of March, it said the conversion price of the bonds would be reset to a premium of 20% to either the volume weighted average price of Premier's shares between March 1 and March 22, or 62.0 pence.

On Thursday, Premier Oil said the conversion price has been set at 74.71 pence, representing a 20% premium to the volume weighted average price of Premier's shares over that 22-day period. Premier Oil shares were up 0.1% on Thursday at 65.82p per share.

"As previously announced, Premier will seek to implement the amendments to the terms of the convertible bonds by way of extraordinary resolution at a meeting of the convertible bondholders. The amendments will become effective on completion of Premier's refinancing," said the company.

Premier Oil has been progressing its refinancing talks with lenders since last year and said the amended terms will see the maturity date of those bonds extended to the end of May 2022, with the interest rate remaining flat at 2.5%.

kam nach dieser Nachricht:

wegen PMO's finanzieller Situation.

Premier Oil: What can investors expect once refinancing completes?
09:35 06 Apr 2017
Completion of the refinancing will be significant de-risking event that should mark an end to any uncertainties over Premier’s finances.

So much of the attention on Premier Oil PLC (LON:PMO) has been focussed intently on the oiler’s pivotal refinancing and now that the debt questions are all but answered, what happens next?

The easy, simple answer is make money - keep producing and selling oil to make enough money to repay the lenders that allowed the company to stay afloat through the crude price crisis. Investors, meanwhile, hope there’ll be sufficient cashflow leftover to allow the company to keep growing.

The company itself phrases it as “providing a solid foundation for Premier to deliver strategic plans” which focus on “debt reduction and selective reinvestment”.

Precisely what that top-level mission statement actually means, investors will have to speculate.

So, let’s start by looking at what Premier Oil presently has.

Premier had record production of 71,400 barrels oil equivalent per day, marking a 24% rise year-on-year. Most of it comes from the Chim Sao (17,000 boepd) in Vietnam and the Natuna Sea (14,000 boepd) operations in Indondesia, and the Huntington (12,000 boepd), Solan (8,000 boepd) and Elgin Franklin (7,000 boepd) fields in the North Sea.

(......)

Mal schauen ob wir heute jenseits der 80 Eurocent schliessen.
Wenigstens sind jetzt die Wolken mal gelichtet, denke aber es braucht neue Impulse damit die Aktie wieder über 1 € kommt.  

PMO verfolgt weiterhin die Strategie, alle nicht zum Kerngeschäft gehörenden Vermögenswerte
zu verkaufen.

quote
Premier is pleased to announce that it has signed a share purchase agreement with Al-Haj Energy Limited (Al-Haj) for the sale of Premier Oil Pakistan Holdings BV, which comprises Premier’s Pakistan business for a cash consideration of US$65.6 million. Al-Haj have paid a deposit to Premier of US$15 million and will pay a further interim deposit of US$10 million within the next 60 days.

The transaction is in line with Premier’s stated strategy to dispose of non-core assets and the proceeds from the sale will be used to reduce the Company’s net debt. The economic date of the transaction is 1 January 2017 with Premier retaining 2016 net cash flows. The transaction is subject to receipt of customary government and regulatory approvals and is expected to complete by year-end 2017. Premier anticipates recording a book gain on disposal estimated at US$40 million.

Scotiabank is acting as the sole financial advisor to Premier on this transaction.

Tony Durrant, CEO, commented
“We are pleased to have reached agreement to sell our Pakistan business. While now non-core for Premier, our Pakistan business has consistently outperformed our expectations over the years and this is testament to the hard work and skill of our team in Islamabad.”
unquote

dass jemand auf Chart Technik Wert legt, soll er sich diesen mal anschauen:

http://pasteboard.co/2DZ1qZxVs.png

Eine schöne Erklärung dazu gibts von YChang "Message of the day" -
http://www.lse.co.uk/ShareChat.asp?page=5&ShareTicker=PMO

>>>Guys - although you may be disappointed in today's PMO SP performance -

Lets not forget that we are on a 6 day blue/green streak -
Refinancing is coming to an end and POO is above $55 heading towards $60 -
We are doing well :) Hang tight and I promise our time will come - We are soon to breakout anyways and the charts are showing to me it will be very soon ;) Patience !!
Link to chart is here - http://pasteboard.co/2DZ1qZxVs.png

The chart is basically showing 2 pairs of resistance lines - One going horizontally the other going upward diagonally -
A triangle is formed similar to the one form in SP500 before breakout when one of the lines from each of the pair is joined together - We have a resistance at 63p which we breached and the next resistance will be at 74p - Which will be the SP we have to break in order to breakout from the triangle - with Refinancing coming to the end and POO heading upwards we may be breaking out upward :) - We are on a 6 green/blue streak so lets continue the good work :) Don't be disheartened by the SP performance because I have faith, and if you are also in PMO you should also have faith and patience :)<<<