Davy Research

Premier Oil

Premier Oil - Strong trading and operational update
Resource
Premier Oil

DAVY VIEW

Premier Oil’s trading statement reports high operating efficiency, good cost discipline, debt reduction and substantial exploration success. The group reiterates that first oil from the Catcher project is on schedule for 2017, although we think this looks tight. We believe that the group’s strong trading update was largely anticipated by the market and near-term share price movements mainly depend on further analysis of the significant Zama discovery.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Premier Oil

    Closing Price: 80.6p

  • RATING 20/06/14

  • PREVIOUS RATING 03/04/12

    Outperform

Analyst(S)

COMPANY DATA

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