Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PREMIER OIL PLC. We currently have 56 research reports from 4 professional analysts.
|02Dec16 03:00||RNS||Director/PDMR Shareholding|
|02Dec16 09:00||RNS||Total Voting Rights|
|30Nov16 07:00||RNS||Deferral of Financial Covenant Test|
|18Nov16 10:00||RNS||Notification of Change of Auditor|
|17Nov16 07:00||RNS||Trading and Operations Update|
|08Nov16 01:01||RNS||Market speculation|
|08Nov16 11:00||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
PREMIER OIL PLC
PREMIER OIL PLC
GMP FirstEnergy ― UK Energy morning research package
17 Nov 16
Tag Oil (TAO CN); BUY, C$1.25: no major changes to estimates | Great Eastern Energy (GEEC LN) (not covered): Half Yearly Results ended 30 September 2016 | Santos (STO AU) (not covered): Farms into Papua New Guinea license | Premier Oil (PMO LN); SPEC. BUY; £1.20: 3Q16 Trading Update | DNO (DNO NO) (not covered): MoU in Iran | Orca Exploration (ORC.B CN): 3Q16 Results | Statoil (STL NO) (not covered): FID at Tanzania LNG delayed by five years
Looking Closer to Home?
22 Aug 16
With Solan now officially moving to the back burner, the Company is finally starting to deleverage its balance sheet. While divesting stakes in Catcher and/or Solan is not in the cards anymore given the depressed state of the asset market, Premier is turning its attention to new growth projects such as Tolmount in the UK that are a much better fit (in terms of more modest capex). In this note, we look in more detail at what could become a new important hub for Premier in the Southern North Sea. With a clear focus to deploy capital on the most attractive projects, the casualty of this strategy would appear to be the Falklands where the Company is unlikely to sanction the project until a partner is identified. This could take some time. We have updated our valuation to include Tolmount but we have taken a more conservative view on the Falklands assets and excluded the Bagpuss prospect. Overall our ReNAV is reduced from £1.48 to £1.34 per share. The story remains leveraged on an oil price where we see 100% downside on the Brent Forward Curve but around 70% upside on our price deck. Speculative Buy recommendation re-iterated with target price reduced from £1.50 to £1.30 per share.
NOTES FROM 1H16 RESULTS - SEA LION TAKES BACKSTAGE, TOLMOUNT LOOKS MUCH MORE INTERESTING THAN ENVISAGED
19 Aug 16
Overall, Premier is now looking beyond Solan, Capex and Opex keep falling and the firm could be FCF positive from 4Q16. The E.ON UK portfolio continues to prove better than expected (even than Premier expected). In particular Premier is providing much more detail on Tolmount that could become not only a new major hub but also the next engine for growth following the start-up of Catcher. Tolmount offers 30% IRR and is commercial at 30p/th. We are currently not carrying any value for it, which we will probably have to revise. Catcher is on track and as highlighted previously is likely to benefit from a reserves boost (that we already carry). Sea Lion, unsurprisingly, is moving to the back burner. Without a farm in partner, the project is probably too capex intensive for Premier. This is particularly true in the context of an upcoming debt refinancing with Premier's creditors, which is likely to give them far more influence on any large investment decisions made by Premier. Epect an agreement by September/October 2016, fully papered by YE17.
19 Aug 16
The Fort McMurray wildfire took more than 1.2 mmbbl/d of oilsands production offline at one point, disrupting operations of many companies within our coverage universe. We expect production estimates for many oilsands producers (HSE, IMO, SU, ATH) to be more varied than usual with more variables to account for than usual (downtime, ramp up, sales volumes). • SCO prices were boosted by the wildfire, with CNQ best positioned to have taken advantage, given the upgrader at Horizon was only mildly affected by wildfires. • CVE, HSE and SU likely benefited from a positive FIFO impact. We estimate a positive FIFO impact of $4-5/bbl of throughput assuming a 30 day lag, with a larger positive FIFO impact on longer lags. • We are generally close to consensus for most CFPS estimates, with the exception of Suncor, where we are estimating $0.34/share versus consensus at $0.44/share. • There are no target price or ranking changes with this publication.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
Small Cap Breakfast
28 Nov 16
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.