If only...
Oil company Premier Oil (LSE: PMO) has exploration and production interests around the world. Its share price rose in January as the firm, which started production from the Catcher field in the North Sea in December, said that full-year output averaged 75,000 barrels of oil equivalent per day (boepd), up 5% from last year. Last month its shares rose further as the firm reported it was on track to meet full-year guidance of 80,000-85,000 boepd. If the oil price remains stable for the rest of the year, Premier expects a significant fall in its $2.7bn net debt during the second half.
Be glad you didn't buy...
Petra Diamonds (LSE: PDL) is a mining group focused on the exploration and mining of diamonds in Africa. Its shares plunged in September after Tanzania's government said it was investigating the country's diamond sector, leading Petra to suspend operations at one mine. The shares fell again in January when the firm released a profit warning. Last month, Petra announced a rights issue that will see it raising £133m from shareholders to pay down debt (it stood at $622m in April). The figure has soared due to the rising value of the South African rand against the US dollar.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
