{"id":69466,"title":"Malcy’s Blog – Premier & Angus","publisher":"Share Talk","author":"sharetalk","published":"2020-03-05T16:28:32+00:00","modified":"2020-03-05T16:29:36+00:00","canonical_url":"https://www.share-talk.com/malcys-blog-premier-angus/","markdown_url":"https://www.share-talk.com/malcys-blog-premier-angus.md","json_url":"https://www.share-talk.com/malcys-blog-premier-angus.json","category":"Energy","categories":["Energy","Malcy's Blog"],"tags":["Angus Energy","Malcy's Blog","premier oil"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"An early start US time means a really short flash blog today, I will catch up with both companies on my return. But good news needs getting out and both companies have good things to say.\n\n### **Premier Oil**\n\nThe numbers today were first rate, as expected and Premier continue with their exceptional operational performance. Production was 78.4 kboepd and 2020 guidance is a conservative 70-75 kboepd. Catcher payback was reached and Catcher North and Laverda sanctioned whilst BIG-P achieved first gas on schedule and below budget.\n\nTolmount is on tr@ck for first gas by y/e 2020 at 20-25 kboepd and Tolmount East targeting 2020 2H sanction. The Zama process is underway with clear associated questions I can’t get to from here. HoT for Sea Lion and Tuna underway and there are UK Acquistions from BP and Dana going through process.\n\nNet debt is $1.99bn with the covenant leverage ratio of 2.3x (2018 3.1x) and fcf indicates further debt reduction. Overall a really credible performance as we might have expected, more later.\n\n### **Angus**\n\nin haste, CPR on Saltfleetby gas field of net 2P of 16 bcf and condensate of 97/- bbls show substantial mean value of reserves giving a central case of £25m.\n\nIve been very impressed by what George Lucan is doing and will update shortly."}