Tullow Oil Share Discussion Threads

[jzd] 09/1/2012 11:35

Is TOTAL shaping up to be the prime candidate to merge/takeout TLW?

[eipgam] 09/1/2012 10:05

it says....

Davy Research


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Tullow Oil
(USc) (TLW LN)
African angles
09 January 2012
Job Langbroek
Closing Price: $21.61 Rating: Outperform 30/06/09

FACTS: Total, a deep-water specialist oil and gas explorer, has announced that it has acquired a deep-water block offshore Mauritania. The block (C9) is an ultra-deep licence located some 140km offshore Mauritania.

Meanwhile, reports from the Ghana National Petroleum Corporation (GNPC) indicate that the Jubilee consortium has agreed to buy out the Kwame Nkrumah, the 120,000 b/d FPSO used in the development of the Jubilee field.

ANALYSIS: The block on the continental slope break and is, according to a senior vice president, "aligned with Total's strategy of expanding its exploration operations into high-potential plays". Cleary, the information gleaned from the drilling of the Zaedyus well offshore French Guiana has given Total sufficient confidence to build out its position in the Atlantic twin play. This exploration concept is built on the science that in terms of geological provenance, one side of the Atlantic is a mirror image of the other.

No exact price for the purchase of the FPSO has been provided, but we suspect that the deal will conclude somewhere between $700m and $750m. Earlier guidance was that the current operating cost per barrel is somewhere in the range of $100m per annum. While the purchase of the vessel will reduce the operating cost (c.$2.50 per barrel), additional capital will be tied up. On balance, we suspect that the deal, if it completes, owes something to the flexibility offered by owning the vessel without any encumbrance on how the latter phases of the field should be completed.

DAVY VIEW: The Total news reflects the rapid moves by industry to become involved in the Atlantic margin play and is clearly a validation of Tullow's work in this play. We suspect that Mauritania will grow in importance in the context of Tullow's exploration portfolio - something which has been signalled by Tullow. In fact, the recent changes announced in its Mauritanian portfolio - it materially increased its exposure and became operator - materially increases its exposure to this sector. Tullow has felt for some time that the deeper pre-tertiary targets should be prioritised. The licence changes allow it to pursue this strategy.

[jbtrend2] 07/1/2012 13:21

Tullow Oil backs Plexus' HGSS subsea wellhead project
ian.forsyth | 07/01/2012

[85gary] 06/1/2012 17:26

The latter is certainly dragging on. I know timing for funding should work out fine but I think investors will be happy to see Uganda farm down concluded with UG blessing. Whatever the outcome, it has been going on for too long. Too long for Tullow and too long for the good of the Ugandan people imo.

Short term W Africa production and price should be the saviour, especially with Iran's hot air influencing oil price, but how long that lasts in 2012 I'm not so sure. It would be good to have farm down in Uganda complete, money in the bank and a program funded for S America. Maybe it is all there or thereabouts but I'm sure there are many shareholders who share my thoughts. Uncertainty is not a good thing if it carries on for too long. Rant over.....have a good one.

[eipgam] 06/1/2012 17:07

you may be able to follow the conference through

I don't suppose there will be anything new in the presentation (which is only 15/20 mins long).... some of the smaller oilers (such as GKP) have posted their presentation on their own websites in the past... perhaps you could ask IR @ TLW?

Personally, I am looking forward to the trading statement on the 18th which must/should have some UG/CNOOC/TOTAL details, West Africa production levels and S America progress. If it's very good news, you will see us surge I think, but I'm guessing that the UG situation is still in limbo....

[85gary] 06/1/2012 16:32

Yes they are, but I don't know much about them. Something to research at the weekend I guess.

Any idea how we follow up on the presentation. i.e. do Tullow produce a briefing note?

[eipgam] 06/1/2012 16:29

are they on the TSX?

A few months ago, around about the time of the Zaedyus announcement, there were some very good research notes posted on this bb that mentioned CGX (if I remember correctly)

[85gary] 06/1/2012 14:38

with regard to presentation.....

If I understand correctly re French Guiana, Guyana and Suriname....Latest action is Repsol currently drilling with Atwood Beacon rig offshore Guyana, Georgetown block, (Tullow has part interest) and CGX shortly to drill eagle 1 Corentyne with Saratoga rig offshore Guyana? (No Tullow interest). rig en-route.

I imagine presentation will be with regard to Zaedyus find and plans to accelerate appraisal?

Just in passing, does anybody follow CGX?

[eipgam] 06/1/2012 13:11

exmooroil - 6 Jan'12 - 10:44 - 1955 of 1958

Tullow Oil is presenting at Macquarie Explorers Conference in London on Monday 9th January at 1.15pm.

Tullow's slot is specifically under the South America section:

(thanks to Buffin100 on Fool)

[l2user] 05/1/2012 22:36

Thursday, 05 January 2012 16:57
Tullow oil to contest Uganda suit
By Geof Magga

[ben chod] 05/1/2012 20:02

good things come to those who wait as youra pensioner I guess youre going tobe around for decades

[l2user] 05/1/2012 11:28

Investec, potential buyers are likely to come from the Far East due to the asset's strategic position on Africa's eastern seaboard.
January 05

[ringer12] 04/1/2012 21:46

What are the prospects of the TLW/Total/CNOOC deal being finalised this month/year/century? I ask the question as I'm a pensioner and Tullow shareholder,unfortunately getting older every day.

[anotherardbeg] 31/12/2011 15:36

I wouldn't click on these urls.
It's been mentioned they can steelstuff from your browser and set up spam.

[jbtrend2] 30/12/2011 21:50

Top 10 Active Canadian Junior Oil Stocks 2011
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[texas tea] 30/12/2011 21:48

Top 10 Active Canadian Junior Oil Stocks 2011
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[eipgam] 30/12/2011 15:34

Cheers Ben

[ben chod] 30/12/2011 15:01

TS and operational update on the 18th Jan

[ben chod] 30/12/2011 14:49

heres oneto throw over the left shoulder