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Premier Oil - Rising oil price boosts shares

April 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.

Premier is doing everything in its power to survive the sub US$40 / barrel environment and full year results showed production ahead of guidance at 57,600 barrels oil equivalent per day (boepd) (2014: 63,600 boepd) despite disposal of non-core assets. Forward guidance is for 65-70,000 boepd for 2016, lower than originally expected because first oil from its Solan field (adding 25,000 boepd at peak plateau) has been delayed again to the third week of March. More positively, its Catcher field (also 25,000 boepd) is currently under budget and on track for first production in 2017 and should increase group production towards 90,000 bopd by FY’18.Revenues fell to US$1.1bn (2014: US$1.6bn) giving a loss of US$1.1bn reflecting non-c ...

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Premier Oil - Rising oil price boosts shares

April 2016

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