Market Reaction: Slightly positive. An agreement along these lines was expected. This will somewhat boost Premier's balance sheet and this opens the door for a farm-out of Solan post first oil in 4Q15. Premier currently estimates that the royalty payments and the NPI would become payable at an average oil price above US$75/bbl and US$100/bbl, respectively. These deals add about £0.15-£0.20 per share to our RENAV. We continue liking the shares at current levels. Premier continues t
02 Jun 2015
RESTRUCTURING OF SOLAN HELPS BALANCE SHEET AND IS ACCRETIVE
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RESTRUCTURING OF SOLAN HELPS BALANCE SHEET AND IS ACCRETIVE
Harbour Energy Plc (HBR:LON) | 281 -8.1 (-1.0%) | Mkt Cap: 2,164m
- Published:
02 Jun 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly positive. An agreement along these lines was expected. This will somewhat boost Premier's balance sheet and this opens the door for a farm-out of Solan post first oil in 4Q15. Premier currently estimates that the royalty payments and the NPI would become payable at an average oil price above US$75/bbl and US$100/bbl, respectively. These deals add about £0.15-£0.20 per share to our RENAV. We continue liking the shares at current levels. Premier continues t