Edition:
United States

Premier Oil PLC (PMOIY.PK)

PMOIY.PK on OTC Markets Group

0.82USD
--
Change (% chg)

-- (--)
Prev Close
$0.82
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
2,240
52-wk High
$1.15
52-wk Low
$0.60

Latest Key Developments (Source: Significant Developments)

Premier Oil announces refinancing update
2:00am EDT 

April 25 (Reuters) - Premier Oil Plc ::Holders representing more than 75% by value of its $245m convertible bonds have now entered into lock up agreement.This commits them to vote in favour of proposed refinancing on terms of that lock up agreement.This is a sufficient majority to pass required resolution to implement amended terms of convertible bonds..  Full Article

Premier Oil says to dispose Pakistan business for $65.6 mln
Wednesday, 5 Apr 2017 02:12am EDT 

Premier Oil Plc : Sale of Pakistan Business . Signed a share purchase agreement with Al-Haj Energy Limited (Al-Haj) for sale of Premier Oil Pakistan Holdings BV . Sale for a cash consideration of us$65.6 million . Premier anticipates recording a book gain on disposal estimated at $40 million . Al-Haj have paid a deposit to Premier of us$15 million and will pay a further interim deposit of us$10 million within next 60 days . Scotiabank is acting as sole financial advisor to Premier on this transaction. .Sale will be used to reduce company's net debt. Economic date of transaction is 1 January 2017 with premier retaining 2016 net cash flows..  Full Article

John Wood renews, extends North Sea contract with Premier Oil
Monday, 27 Mar 2017 02:15am EDT 

John Wood Group Plc : Awarded a $50 million contract with premier oil .Two year contract which has three, one year extension options, retains more than 150 jobs.  Full Article

Premier oil announces revised conversion price for convertible bonds
Thursday, 23 Mar 2017 03:07am EDT 

Premier Oil Plc : Premier oil plc - announces revised conversion price for premier's $245 million convertible bonds . Premier oil plc - amended conversion price to be 74.71p, a premium of 20% to volume weighted average price of premier's shares over march 1-22, 2017 . Premier oil plc - exchange rate to be used on any future conversion of bonds to be re-set to a fixed rate of $1.2280/£ .Premier oil plc - amendments will become effective on completion of premier's refinancing.  Full Article

Premier Oil reports 2016 pre-tax loss of $390.6 mln
Thursday, 9 Mar 2017 02:07am EST 

Premier Oil Plc : 2016 profit after tax of us$122.6 million . Cash flows from operations of us$431.4 million . Net debt of $2.8 billion as at year-end . 2017 production guidance maintained at 75 kboepd, before any contribution from catcher . 2017 opex and capex guidance of <$16/boe and us$390 million . Net cash flow positive at forward curve in 2017 .2016 loss before tax $390.6 million.  Full Article

Premier Oil says over half of convertible bondholders agree to new terms
Thursday, 9 Mar 2017 02:04am EST 

Premier Oil Plc : Entered into lock up agreements with requisite majority of each of lenders to rcf, fls term loan and us private placement notes to terms of proposed refinancing .Holders representing over 50% of convertible bonds have now entered into lock up agreements.  Full Article

Premier Oil says making progress over refinancing, bond deal talks
Friday, 24 Feb 2017 09:28am EST 

Premier Oil Plc : Share price weakness . Premier notes recent weakness in its share price. . Private lenders currently going through their formal credit committee approval process over terms of refinancing and good progress being made . In process of finalising deal to amended convertible bonds terms with additional significant bondholders who are also expected to lock up shortly . Expects to provide a refinancing update to market in next few days . Current operational performance remains strong with production year to date averaging over 79 kboepd .Market guidance of 75 kboepd remains unchanged.  Full Article

Ocean RIG UDW Inc Q4 loss per share $45.08
Wednesday, 22 Feb 2017 06:00pm EST 

Ocean RIG UDW Inc : Ocean RIG UDW Inc reports financial and operating results for the fourth quarter 2016 . Q4 loss per share $45.08 . Q4 revenue $355.4 million versus i/b/e/s view $313.1 million . Q4 earnings per share view $0.38 -- Thomson Reuters I/B/E/S . Ocean RIG UDW Inc says continues to explore and consider various strategic alternatives with its financial and legal advisors . Ocean RIG UDW Inc says total backlog as of February 22, 2017 amounted to $1.5 billion . Ocean RIG UDW Inc says if consensual solution cannot be reached among all stakeholders, co will consider implementation of restructuring plan . Ocean RIG UDW Inc says fleet wide utilization for Q4 of 2016 was 95.49% . Ocean RIG UDW Inc says on February 10, 2017, company reached an agreement with ConocoPhillips to terminate contract of Ocean Rig Athena . Ocean RIG UDW Inc says as part of agreement, ConocoPhillips will pay a termination fee . Ocean RIG UDW Inc says Ocean Rig Athena is presently en-route to its final lay-up location in Greece where unit will be cold stacked . Ocean RIG UDW Inc says on february 6, 2017, company reached an agreement with Premier Oil and Noble Energy .Ocean RIG UDW Inc says agreement with Premier Oil, Noble Energy was to settle disputed invoices related to contract of Eirik Raude against payment of $25 million.  Full Article

Premier Oil says gets financial covenant test deferral
Thursday, 29 Dec 2016 02:00am EST 

Premier Oil Plc : Deferral of financial covenant test . Received monthly deferral in respect of test of financial covenants with test for 12 month period ending 31 Dec 2016 waived . Monthly deferral replaced by a test for 12 month period ending 31 January 2017. .Expects to continue to receive monthly deferrals until refinancing of financial facilities currently being negotiated has been agreed..  Full Article

Premier Oil gets monthly deferral for test of its financial covenants
Wednesday, 30 Nov 2016 02:25am EST 

Premier Oil Plc : Has received a monthly deferral in respect of test of its financial covenants with test for 12 month period ending 30 November 2016 . Waived and replaced by a test for 12 month period ending 31 December 2016 . Is making good progress in finalising revised terms of its financial facilities and agreements .Expects to continue to receive monthly deferrals until negotiations with its lending group conclude..  Full Article

More From Around the Web

BRIEF-Premier Oil announces refinancing update

* Holders representing more than 75% by value of its $245m convertible bonds have now entered into lock up agreement