Premier Oil started out searching for oil in Trinidad in 1934 as the Caribbean Oil Company. The group is now a leading independent oil and gas company with production interests in the UK, Indonesia and Pakistan, and exploration ongoing in the UK, Indonesia, Philippines, West Africa and South Asia.
Premier Oil Plc Ord 12.5P is listed on the London Stock Exchange trading with ticker code PMO.L, and is part of the Metals sector. It has a market capitalisation of £87,258m, with approximately 822m shares in issue. Over the last year, Premier Oil share price has been traded in a range of 92.2, hitting a high of 146.90, and a low of 54.70.
Premier Oil, officially known as Premier Oil Plc Ord 12.5P was formed in July of 2002, making the company seventeen years old. The company filed its latest accounts on 31st December 2014, showing a turnover of approximately 1.07 billion GBX with gross profits of 423.54 million, or 0.5155 per issued share, and a pre-tax profit margin of -23.57%. Premier Oil currently has 11 directors, and has had 13 previous directors over the last 17 years. In the last set of accounts produced by Deloitte Llp, the company showed 113.07 million paid in salaries to the 940 staff (average wage of 120 thousand), with the directors receiving an average 30 thousand each. In the accounts filed in 2014, the company paid 28991237 in dividends, or 0.0353 per share. These accounts also showed Premier Oil to have a net worth of 530.87 million, with 192.26 million held in cash.
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|Shares in Issue||822m|
|52 Week High||146.90|
|52 Week Low||54.70|
Premier oil Plc. shall be avoided at the current levels. The stock finished trading on the London stock exchange at 50.95p a share on 15th June, down by 3.3% compared to the previous close. In our last article on Premier oil plc. we had mentioned that if the stock would break the support zone of 60.0p, it would test new lows and fresh longs shall be avoided till the stock is done with its consolidation. However, the stock couldn’t sustain the support of 60p last month and had tested the lows of 48.40p. Currently, the stock has been trading below its 20 day moving average (DMA), 50 DMA and 100 DMA of 56.0p, 59.0p and 66.60p respectively. In terms of technical analysis or charting, the stock has been in downward trend and has been forming lower lows and lower highs. The next support zone for the stock would be 47.0p and any breach below that level would further increase the selling pressure and stock could be seen making new fresh lows. Hence, premier oil plc shall be avoided till we witness some sort of trend reversal. As of now beers seem to be in full charge so we have to wait for the sign of reversal. We would advise traders or investors to avoid Premier oil Plc for the time being. The weekly chart of the stock also depicts the bearish trend of the stock. (Read more)
Premier Oil plc. is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company's operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World. In total, the Company manages approximately 760 million barrels of oil equivalent (mmboe). The Company has production rates of over 90 thousand barrels of oil equivalent per day (kboepd). The Company focuses on producing 68 to 73 kboepd. The Company's four-well North Falklands Basin campaign targets multiple stacked fans in PL004 and PL032 using the Eirik Raude rig. The Company owns an interest in over two licenses, such as Natuna Sea Block A and Kakap. (Read more)