Tullow Oil Share Discussion Threads

[ringer12] 07/2/2012 18:03

Has the oil agreement actually been signed? It,s not quite clear in these statements...as usual. Hopefully it has.

[ben chod] 07/2/2012 17:19

theres been so much finger pointing its hard to know whostellingthetruth when it boils down its a meagre distillation indeed but what matters is that Total and CNOOC have the skills to move thisproject forwardnow that they are offically on board this development

[85gary] 07/2/2012 16:46

All the signs for a Tullow announcement that farm down is complete appear to be appearing in the background. Then of course there remains the small matter of the arbitration result!

[eipgam] 07/2/2012 16:16

and on from that presidential demand, here comes another

Uganda President Warns Lawmakers Against Delaying Oil Development

[85gary] 07/2/2012 16:14

......meant to extract this quote but uploaded too quickly...

Museveni further warned that "nobody will ever again be allowed to delay the development of infrastructure", adding that he would "deal" with lawmakers and bodies who have embarked on schemes aimed at derailing development of the country's oil reserves.

[85gary] 07/2/2012 16:12

Nice to see Museveni is behind oil agreement Ben. Should help minimise any gremlins that may manifest?

[ben chod] 07/2/2012 15:47

I ordered minister to sign oil agreement – Museveni

[anotherardbeg] 06/2/2012 17:18

Its going to need a heated pipeline I believe. A nightmare to build and maintain.

[flyingswan] 04/2/2012 19:16

Tullow could also strike oil in Tanzania, Nest Week, as they have a 25% stake in Nyorya-1 Drilling:

RNS Number : 2736W
Aminex PLC
27 January 2012

NTORYA-1 DRILLING UPDATE

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces a further update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.

The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. Ntorya-1 is expected to reach total depth around the end of January.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.

Partners in the well are:

Ndovu Resources Ltd (Aminex) 56.25% (operator)

Tullow Tanzania B.V. 25%

Solo Oil plc 18.75%

[5mally] 04/2/2012 19:06

Ringer.. yes and if you include possible pipeline from south sudan also into kenya then the three pipelines could meet up and make a final run down to Mombasa as a single pipeline...

By the way thanks to both eipgam and 85gary for all your astute attentiveness to developments. i do not pay much attention to Tullow.... i just read your comments a few times a week. Thanks

[ringer12] 03/2/2012 23:44

Just a thought...if Tullow strike oil in Kenya could there be a shared pipeline. Depends,of course, where the Kenya prospects are situated.

[eipgam] 03/2/2012 20:13

I wonder if the Peoples Republic of China will be adding to their holding now.

[oilretire] 03/2/2012 20:04

From earler - "what does PO mean?"

Price Outperform would be my guess?

And I would further guess that that's what we will see once the money is confirmed from Total & CNOOC :-)

[tomgorham12] 03/2/2012 19:33

If not highest-ever close tonight, must have been fairly close?

[eipgam] 03/2/2012 18:37

The Total/CNOOC deal will be done in a few days.... there's nothing to stop it now... It was all agreed ages ago and now govt permission has been given, away we go.

Perhaps we should write to the DJN journo and ask him to explain himself.

[85gary] 03/2/2012 17:59

Makes sense eipgam. As I understand it Tullow was the last "big" account for Hoare Govett. RBS put them up for sale recently, so it is no wonder Tullow have gone. As an aside RBS have ruined Hoare Govett imo, which was a great broker in the past. (My dad worked for them years ago before RBS took them under their wing).

Maybe ringer12, I'm optimistic of good news next week, and hope to see share price bursting through all time high, but the story about the boy who cried wolf comes to mind, so we might have a bit of Dow Jones / East African press in the interim. I'm not enamoured with Dow Jones journalism by the way.

[ringer12] 03/2/2012 17:47

"Government and company officials said they expected the sales deal to be completed in the next few days" Could that be the reason for the muted response! I seem to have read something like that before. Another last minute injunction perhaps but surely it must happen at last.

[eipgam] 03/2/2012 17:39

re my earlier post about why the change of broker. Here's why....

Friday 3rd February 2012, 2:22am
ADVISERS
DAVID HELLIER

TULLOW Oil, the FTSE 100 oil explorer, yesterday parted company with its long-standing corporate brokers, Bank of America Merrill Lynch (BAML) and RBS Hoare Govett, appointing Barclays Capital and Morgan Stanley in their place.

BAML's position had been precarious ever since the bank parted company with corporate broker Andrew Osborne in November.

Osborne, whom Tullow described yesterday as a "very valuable broker to the company" left BAML after being investigated by the Financial Services Authority over claims that he passed over inside information to a large shareholder in a client, Punch Taverns, in 2009. Osborne maintains that he did not deliberately breach any rules and is considering appealing against a £350,000 fine.

BAML says it will maintain a close relationship with Tullow, to whom it is a lender and an adviser.

RBS Hoare Govett, which has been sold to Jefferies, also expected to lose the mandate.

BarCap will be especially pleased with the win. It has been picking up big UK broking clients like British Airways owner IAG, and 3i, the private equity group. Alastair Gain and Bertie Whitehead were on the pitch, while Andrew Foster and Tom Perry led Morgan Stanley's campaign.

[eipgam] 03/2/2012 17:37

Fox Davies waffle....


Tullow Oil (LON:TLW) moved 3% better to 1475 in trading, after the company announced that it has signed two new Production Sharing Agreements, or PSAs, with the Government of Uganda covering the EA-1 and Kanywataba licenses in the Lake Albert Rift Basin, adding that it has also been awarded the Kingfisher production license. As a result of this signing, Tullow will now finalizes arrangements with oil companies CNOOC and Total for completion of the farm-down and the related transfer of monies as soon as possible.' Major resistance sits at 1475p, so any break and close above could get the chartists among us excited. Support looks to be around the 1400p area.

[r4282] 03/2/2012 15:54

Tullow 'Could Double Production' in 5 Years after Ugandan Deal

[eipgam] 03/2/2012 15:37

where? who? I can see nowt...