Premier Oil is an independant oil and gas company based in the UK with operations around the world.

Premier Oil plc is an independent UK oil company with gas and oil interests in the UK, Asia, Africa and Mexico. It is devoted entirely to the 'upstream' sector of the industry - the exploitation of oil and gas - as opposed to the 'downstream' refining and retail sector. even though the company is listed on the London Stock Exchange, the annual and quarterly reports are valued in US dollars.

The financials of Premier are mixed. Current market capitulation $409m with 2019 revenue at $1.4bn. Revenue is up 31% from 2018, however for the past 8 years revenue has not been stable neither has it shown growth. Because of this profit after tax has also been really mixed. 2019 profit after tax was $105m but the year before the loss was $270.2m. Cash on hand last year was $372m, this has again been very unstable. Receivables is also the lowest it has ever been at $282.3m. Total assets $6.28bn with liabilities at $5.17bn. This gives net positive assets of $1.1bn. Q1 results have not been published yet.

From a technical standpoint, Premier is in a good position on the 4 hourly. MACD is about to turn positive with the shares already in the upper Bollinger band, these could indicate upside. Support sits below at 40.20p and 27.43p To the upside, a Fibonacci would indicate the following levels as targets. 50.13p (38.2%), 61.24p (50%), 72.36p (76.4%). To the downside 36.37 also is another support barrier which is the 23.6% fib.

Overall Premier oil is very mixed as an investment. From a financial standpoint, there is no stability and the company often has swung in and out of profit as well and having variable revenues, hence showing instability. From a technical aspect however, the company is well placed with support below and targets which seem reasonable. One issue here is that financials statements are difficult to get ahold of so investor will not know the true damage of COVID until mid-year results are published. With this indisutry already struggling it would make fesable sesne to see this company drop into a deep loss again, possilbly hurting the share price.