---
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"
date: 2020-03-05
canonical: "https://www.share-talk.com/malcys-blog-premier-angus/"
category: "Energy"
categories: ["Energy", "Malcy's Blog"]
tags: ["Angus Energy", "Malcy's Blog", "premier oil"]
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"
---

# Malcy’s Blog – Premier & Angus

**Published:** March 5, 2020
**Author:** sharetalk
**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)

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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.

### **Premier Oil**

The 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.

Tolmount 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.

Net 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.

### **Angus**

in 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.

Ive been very impressed by what George Lucan is doing and will update shortly.

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