Tullow Oil Share Discussion Threads

[up just a little bit] 26/4/2024 17:11

Cheeky little buy of 921975 at .367

[xxnjr] 26/4/2024 13:53

Patrick P made a passing reference to Uganda on Total's results call just finished. It was in the context of contracting strategies and cost inflation. He said Total were a lot more open to contracting Asian suppliers these days as Asians tend to respect prices quoted. The example he cited was Uganda where 50% of contractor content is Asian. The gist being things are going very smoothly in Uganda and agreed prices are being respected.

[up just a little bit] 26/4/2024 11:26

https://www.theguardian.com/business/2024/apr/25/oil-price-could-exceed-100-a-barrel-if-middle-east-conflict-worsens-world-bank-warns

[wellbutpoor] 26/4/2024 11:24

It would be great to see 36p hold today.

I've been watching the O/B this week and I believe there's a large buy order working it's way through which might get published later.

I'm hopeful that we'll see an attack on 40p over the next few sessions.

[xxnjr] 24/4/2024 22:11

Meanwhile Mauritania, the 2021 Annual Report says

"In Mauritania, the Group’s operated decommissioning programme of the Banda and Tiof fields is expected to commence in the fourth quarter of 2022. Planning is well advanced, with major service providers secured. Non-operated decommissioning of the Chinguetti field is ongoing and seabed infrastructure clearance is expected to complete this year. The expected remaining UK and Mauritania decommissioning exposure over 2022-26 is c.$180 million, with over half of this forecast spend in 2022....."

Somewhat ironic then that another grouping are planning to invest $1.3bn into developing Banda field!



"Mauritania’s government has approved a draft decree that will allow an Egypt-based consortium to become the latest operator to try to commercialise 1.2 trillion cubic feet of gas held in the challenging Banda discovery offshore Mauritania.

Discovered in 2002, numerous attempts to exploit Banda’s marginal volumes of gas have been assessed over the years by the likes of Woodside, Roc Oil, Petronas, Tullow Oil and New Fortress Energy, but all have failed to pass muster.

The new kid on the block is the Taqa Arabia-Go Gas consortium, which earlier this month signed a deal to secure an exploration and production licence for Banda and the nearby Tevet oil discovery, with plans to invest $1.3 billion, according to the government."

Reminds me of UKNS. TLW and partners discovered a quite large gas discovery "Cygnus". We gave it up for some reason. Others developed what became the largest new field development in the Sth North Sea in recent years.

[hubshank] 24/4/2024 17:08

Think this post needs bringing to the forefront. What impact will it have on value of sp?

[hubshank] 24/4/2024 15:26

This share dipped last April / May too before recovering for September. It's cyclical so don't be too disheartened. Fairly certain - and maybe someone else could confirm, that we had the potential for around a 70% upside (I may be talking nonsense so anyone contribute on the upside front)

[badger36] 24/4/2024 12:17

We can't get above 36. Need some catalyst to justify such a significant more in market cap

[wellbutpoor] 24/4/2024 10:05

xxnjr - agree, a significant breakout to the upside looks imminent.

45-50p could be achievable as the upside is challenged IMO.

WBP

[xxnjr] 24/4/2024 08:36

This is not financial or charting advice. But to those of you considering selling out around the 40p area, looking at the chart above, wouldn't a two day close above 40p favour a more positive/bullish share price outlook from a charting perspective?

[mcsean2164] 23/4/2024 15:12

Agree. Wonder who down voted you. Possibly a recent investor who didn't pay into the last fundraising 🫣

[xxnjr] 23/4/2024 11:15

Hanging on to Argentina doesn't appear to make a lot of sense. Surprised it's still there. Buenos Aires is nice though. Not that I'm suggesting it's just there so our guys can have a nice relaxing stay in BA for a week ;-)

[subsurface] 23/4/2024 09:03

So if you buy one of Tullows rejected blocks, very good chance of finding Oil
Hurry while stocks, last still have Argentina!

[xxnjr] 23/4/2024 08:23

Our drillship is expected to finish drilling operations in Ghana in about 5 wks according to it's next client where it will be drilling Ceiba-Okume complex sold by Rahul

[badger36] 22/4/2024 11:33

You can produce with discovery though and they have been either inept, corrupt or plainly unable. Either way we have had nothing for years

[xxnjr] 22/4/2024 11:27

Going forwards. The SP? You could say the medicine is working. Debt is coming down. Costs are under control. We could possibly be at an inflexion point. But for that to come to pass we need to see stable and decent production from now into 2H 24 and 1H 2025 after the rig leaves Ghana. Producing the stuff ultimately is what counts.

[xxnjr] 22/4/2024 11:03

I kind of get it. The company was in a terrible mess. Not Rahul's fault. We needed to save money. What I don't get is why we exited Namibia in the middle of the Venus-1X exploration well, literally between spud and well result. If we'd waited a few more weeks we would have known that that years "well to watch" was a highly promising basin opening discovery!

[badger36] 22/4/2024 10:44

At 46 I'm even and out

[badger36] 22/4/2024 10:43

Certainly not run for shareholders Backhanders and disposals done based on flawed analysis or corruption

[mcsean2164] 22/4/2024 10:19

xxjnr,

I'm hoping to exit around 40p. The company fell apart during covid and is not the same company anymore. Soon time to move imho.

[badger36] 22/4/2024 08:44

One can only despair at some of these decisions and combined with drilling disappointments you must wonder if a badly trained monkey could be any worse

[subsurface] 22/4/2024 08:39

Tullow had 37.5% of the Kanuku block Guyana Repsol the operator who may of lost the licence
No Compensation ?


Tullow gets key nod to exit Orinduik, but might remain on Kanuku license

hxxps://oilnow.gy/news/tullow-gets-key-nod-to-exit-orinduik-but-might-remain-on-kanuku-license/

[subsurface] 22/4/2024 08:27

Tullow Oil chief executive Rahul Dhir has “no regrets” about the company’s decision to quit a highly promising exploration block offshore Namibia, upstream reported.


2022 Chevron spends big to enter Namibia’s oil race


The multi-national United-States-based energy corporation, Chevron, has reportedly paid US$100 million (around N$1.7 billion) for a stake to explore oil in the Orange basin offshore Namibia.

Online global energy publication Energy Voice this week reported Chevron invested after the US super-major acquired an 80% working interest in Petroleum Exploration License 90 (PEL90), which covers Block 2813B – about 200 to 250km offshore – close to the Venus and Graff discoveries by TotalEnergies and Shell, respectively.

hxxps://neweralive.na/posts/chevron-spends-big-to-enter-namibias-oil-race