Full Year Results 

Premier between a rock and a happy place

Premier between a rock and a happy place

Despite a $171m (£123m) post-tax impairment charge, and a 53 per cent decline in its net asset value per share, Premier Oil’s (PMO) full-year numbers offer reasons for hope. Average daily production increased to 75,000 barrels of oil-equivalent (boepd), and could rise to 85,000 boepd in 2018, as Catcher ramps up. Elsewhere, the Tolmount gas project is nearing sanction, the Zama discovery is set for appraisal, a final investment decision on Sea Lion is coming, and free cash flow is growing.

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