Premier has been hit hard by low oil prices and investors have been concerned about rising debt cash burn and project execution risk. The company was swift to respond but strategic action to date has not been enough to ease the financial pressure. The conclusion of debt refinancing in 2017 will put the company on a firmer footing but Premier will remain leveraged to the future direction of oil prices. The underlying business outlook is encouraging with peer leading production growth out to 2018. Premier has longer term growth options including the large deepwater Sea Lion project but the timing approval and financial capability to participate in pre FID projects is uncertain as the company focuses on rebuilding its financial strength.