I don't understand all the details of the info that has been circulating saying that 11.1.2.*3* has Premier Support through date A while 11.1.2.*4* has PS through date B. That's not how Oracle has ever specified PS windows. This stuff is covered by documented Oracle policies that are broader in applicability than just EPM/BI.
PS attaches to the "major release", which is 11.1.2 level (not the "patch set", which is 126.96.36.199 or 188.8.131.52 or whatever). PS was originally going to expire in April 2016 (5 years from GA date), but Oracle extended it through April 2018 (in late 2013) then to December 2018 (just a couple of months ago) and now, reportedly, through 2020. A large extension following the short extension so closely suggests that Oracle are reacting to customer disquiet (which is great). Jeff, my take is that you're hearing rapidly changing stories because the story is changing rapidly. :)
All that said, I haven't found any official written statement of any of this yet. The relevant doc hasn't been updated since the extension to the December 2018 date. http://www.oracle.com/us/support/library/lifetime-support-applications-069216.pdf