Tullow Oil Share Discussion Threads

[eipgam] 27/2/2012 15:52

It all helps, Ben, but that analyst must get the Oscar for saying nothing of any consequence at all!

[ben chod] 24/2/2012 17:35

well we are poised a bid from Shellperhaps

[ringer12] 24/2/2012 17:23

TLW valued at $3.85...surely there must be a bid on the way..I,m holding on for at least a fiver!

[eipgam] 24/2/2012 15:18

even more interest in East Africa now.... rival bids at COV

[85gary] 24/2/2012 10:01

I'm just hoping they haven't spent it on a 200,000 bbl/d refinery!

[peter27] 24/2/2012 10:00

implicit in the first sentence of rns
"21 February 2012 - Tullow Oil plc (Tullow) is pleased to announce that it has completed the farm-down of 66.6666% of its Ugandan licences to CNOOC Limited and Total for a consideration of $2.9 billion. "

[niceyman1] 24/2/2012 09:12

Will we get an rns when monies go into bank $2.9 billion?

[85gary] 23/2/2012 08:31

Anyone pick up on the size of the refinery headline? 200k bbl/d $1.5m price tag. I'm thinking this might not be capacity or cost at day 1, plus picking up that greater % participation seems to be weighted to Chinese?




I'm thinking now that sale is out the way there may be progress in London arbitration for Heritage? I see Tullow are taking local route to try and decrease tax due on their farm down and that maybe a London decision may influence any local decision?

[wodahsnoom] 23/2/2012 07:48

Wexboy, I was prepared to give you the benefit of the doubt on the KMR board that you'd just got your numbers mixed up (10p valuation - market price 58p and 2012 P/E of 10) but this must be an elaborate wind up? TLW $3.85 - if you feel so strongly about these two and you are genuinely trying to inform investors why don't you short the hell out them. Sorry, you have no credibility as far as I'm concerned.

WS

[wexboy] 23/2/2012 02:09

Hi folks,

Just posted Part V of The Great Irish Share Valuation Project, including valuation and some commentary about Tullow:



Cheers,

Wexboy

[eipgam] 22/2/2012 18:59

CNBC-TV18 learns that Cairn India is currently evaluating opportunities in Uganda, where the government is likely to put on offer oil blocks next month.

Sitting on cash of over USD 1.5 billion, Cairn India is looking at inorganic growth and is keen to have an overseas presence. In fact, the company is going to open an office in London for M&As and international business.

While Cairn India's immediate focus remains ramping up Rajasthan production to 240,000 bbl, it is looking at mergers and acquisitions as well as organic growth overseas to maintain its reserve replacement ratio and to sustain its annual cash generation of USD 2-2.5 billion.

Cairn India though has ruled out shale gas and natural gas assets for now.

[85gary] 22/2/2012 17:53

Thing I picked up on today is that Shell's interest in Cove brings all East Africa very much into play, including Tullow.

[eipgam] 22/2/2012 17:48

GKP not on your monitor then?

Remember 1508 was our ATH for ages and ages (we even went sub £10 since then).... now we are not falling below it even though some analysts seem to have it in for us in the last few days.

Got to keep things in perspective. If you are a pensioner, perhaps you should look at your risk profile again, and perhaps sell equities as and when you have made a profit.

NOT advice, just a comment....

[ringer12] 22/2/2012 17:01

Looks like the Tlw sell off proceeds are going into the other small oil companie. Several of them rocketing over the last two days. All on my monitor
but failed to invest to as usual. It would appear we now need a mega new oil find to get the shares moving again...anything less presumably means a downturn.

[mpclag] 22/2/2012 07:45

i don't think theyll have too much to worry about now the chinese are on board-they have a way of making things happen!

[85gary] 21/2/2012 22:01

I've finally worked it out. All those names on GKP bb discussing which car to get. UG ministers, all of them.



Not wishing to dampen the farm down achievement which is a long awaited milestone but, reading between the lines, I'm picking up market doubt over timescale being proposed for production. Not from Tullow and partners programme but from feared UG delays.

[ringer12] 21/2/2012 20:17

Ah good. It will be interesting to see which concession has the most success.

[mpclag] 21/2/2012 19:03

i understand that all 3 will get a third share in total combined production from the three companies

[ringer12] 21/2/2012 17:23

Under the tie up do the three partners share equally in the spoils irrespective
of any further success in each territory. I note that immediate priority appears to be in the Total concession.

[ben chod] 21/2/2012 13:38

those years will comeand go notabig deal in the scheme of things

[peter27] 21/2/2012 12:18

Hurrah - but we are still some years away from seeing any oil to sell!

[eipgam] 21/2/2012 12:13

Tullow press release: 12:03

Tullow Oil plc (Tullow) is pleased to announce that it has completed the farm-down of 66.6666% of its Ugandan licences to CNOOC Limited and Total for a consideration of $2.9 billion. The farm-down follows the recent signing of Production Sharing Agreements ("PSAs") and the Kingfisher production licence with the Government of Uganda.

Tullow, CNOOC Limited and Total ("the Partners") have been working closely since March 2011 on development options for the Lake Albert Basin and are looking forward to discussing them with the Government of Uganda later this year. It is currently expected that small-scale oil and gas production for the local power market will commence in 2013 from the Kaiso-Tonya area. Major production from the Lake Albert Basin is anticipated to commence approximately 36 months after a basin-wide plan of development is approved by the Government of Uganda. Based on this timetable, ramp-up to major production would commence in 2016.

In accordance with the Government of Uganda farm-down consents, operatorship responsibilities within the basin will be divided between the Partners. Total will operate Exploration Area-1 (EA-1) and Tullow will operate Exploration Area-2 (EA-2). In the former Exploration Area-3A, CNOOC Limited will operate the new Kanywataba licence and the Kingfisher production licence.

The Partners are now re-commencing drilling activities in the area to undertake a wide-ranging exploration and appraisal programme in 2012. Immediate exploration priorities include drilling the Kanywataba prospect, a series of prospects west of the Nile starting with the Omuka well in EA-1 and further appraisal work in both EA-1 and EA-2.

Aidan Heavey, Chief Executive Officer of Tullow, commented today:
"I am delighted that we have completed this farm-down with CNOOC Limited and Total, two experienced partners with whom we have already built a strong working relationship. The Lake Albert Rift Basin is one of Africa's most exciting oil discoveries and I look forward to working with our new Partners and the Government of Uganda in driving this project towards major production."

FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc

[ben chod] 21/2/2012 11:37

many analysts have pointed to the fact that the well will need further appraisal to due to the limited information given - a possible reason for the negative market reaction this morning.