FTSE-250 constituent Premier Oil (PMO) has this morning noted that exploration well 16/4-6S on the Luno II prospect (Premier: 30%) in the Norwegian North Sea “has resulted in a potentially significant oil discovery”. This has helped Premier’s shares up just over 5% to 381.4p at the time of writing. This is up from late 2008 lows of little more than 116p and 336.5p at which the shares commenced 2013. They did however hit 535p in early 2011 and the following updates on today’s announcement and its significance from an investment point of view.
on TradingResearchPoint | CommentsFiled under: