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TLW Tullow Oil Plc

-1.04 (-3.13%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Tullow Oil Plc TLW London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-1.04 -3.13% 32.14 16:35:28
Open Price Low Price High Price Close Price Previous Close
32.62 32.36 33.12 32.14 33.18
more quote information »
Industry Sector

Tullow Oil TLW Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 21/6/2024 11:24 by xxnjr
OTOH it's difficult to imagine Tullow remaining independent.

7% bonds are partly being repaid with $400m of 15% debt.
10.25% bonds will be replaced but at what cost?

Surely TLW would be in a much better position, transformed even, if it were absorbed by an undertaking with a lower cost of capital? Sadly though, not suggesting there will be a knock out take out price.

There doesn't need to be a knock out take out price.

Mr Dhir now has about 24.5m shares. As a result of awards, like this

Even at todays SP, Mr Dhir will make a truck load of money. An unfortunate aspect of the scheme AFAICS is, the lower the share price at time of award the more shares the CEO receives, as 50% of annual bonus is awarded not as cash, but as shares.

(Awarded Bonus divided by low spare price = higher no. of shares granted.)
Posted at 21/6/2024 09:01 by xxnjr
In the time that Rahul has been CEO

EnQuest reduced net debt from about $1,350m to about $350m, or reduced by 74%
TLW reduced net debt from about $2.5bn to about $1.6bn, or reduced by 36%
(excludes $500m rec'd from Uganda sale completion, sold before Mr Dhir arrived)

Anyone think the strategy was questionable?
Posted at 21/6/2024 08:36 by xxnjr
It would be good if it made any difference!

Brent 2024 YTD: +11%
TLW 2024 YTD: -15%

Brent at Rahul start date: $41.50
Brent now: $85 +105%

TLW at Rahul start date: 31.5p
TLW now: 33p +5%

Anyone think we need a new CEO?
Posted at 14/6/2024 16:26 by mcsean2164

Just sold the rest. TLW is not the company I invested in, I've lost a lot of money but that's it done.

Uganda, in particular, is a conuntry I don't want to have anything to do with.

Thanks to you, booty and others for your really helpful insights over the years and best of luck in your market adventures.
Posted at 10/6/2024 16:24 by xxnjr
Apologies. Going down memory lane today. Another start up by former TLW directors, on an old 'high impact' TLW block, which apparently today now holds 7 billion barrels potential and could host 6 major FPSO developments.....!

Their share price?...... 0.2p
Posted at 01/6/2024 11:02 by xxnjr
Ever wondered who one of the worlds highest polluting oil companies is? as measured by kgs of Co2 emitted/boe produced? Here's a clue. According to p.34 latest annual report TLW's emissions were

2020: 29 kg CO2e/boe
2021: 35 kg CO2e/boe +20%
2022: 37 kg CO2e/boe +5.7%
2023: 40 kg CO2e/boe +8.1%

That is
4X higher than Saudi Aramco!!!! (10.7 CO2e/boe) Would never have thought that!!!!
2.67X higher than Petrobras (brasil) (15.0 CO2e/boe)
1.42X higher than Seplat(nigeria) and Pertamina (indonesia) (28.0 CO2e/boe)

Seems TLW is one of the dirtiest oilers on the planet!

Data extracted from p9. of M et P's 'Présentation - Assemblée Générale Mixte du 28 mai 2024', available here
Posted at 31/5/2024 12:16 by xxnjr
Rahul Dhir Bonus watch

TLW 2024 YTD: 1.94%

Comparator Group

Africa Oil: 0.80%
Capricorn: -10.70%
Energean: 16.70%
Enquest: 4.22%
Harbour Energy: 2.87%
Kosmos Energy: -11.27%
Pharos Energy: 2.67%
Seplat Energy: 68.77%
BW Energy $650m: 22.15%
Diversified Energy: -2.54%
Maurem et Prom: 17.71%

Average of group: 10.13%

Most of the above, apart from Kosmos, I think pay divis as well.

(So far) TLW near the bottom. Kosmos are bottom due to BP operated delays on Tortue FLNG Senegal coming onstream.

Maurel et Prom (+17.71%) own 20.46% of Seplat (+68.77%)

PIEP (PT Pertamina Internasional EP) own 71.84% of Maurel et Prom
Posted at 31/5/2024 11:10 by xxnjr
No such issues for Seplat +10% this am. It seems their 2022 deal to acquire Exxon's onshore acreage in Nigeria is edging towards the finishing line

Seplat's 2nd largest shareholder are Petrolin with 81m shares (13.77%)

Petrolin is owned by Samuel Dossou-Aworet

Samuel Dossou-Aworet is also TLW's largest shareholder with 243.6m shares (16.8%)

In 2004 TLW bought Energy Africa from Samuel Dossou-Aworet.

Energy Africa was the gift that kept giving for TLW as a lot of TLW's African production in the intervening 20 yrs came from those assets.

If it goes through Seplat will be quite a large producer.

It helps to have friends in Africa! But it seems we didn't receive an invite.
Posted at 16/5/2024 17:42 by wellbutpoor
An interesting day, with some excellent commentary - this is a great BB with plenty of knowledge and well rounded discussion.

I would agree that TLW might appear expensive in terms of enterprise value.

I would also agree that today's results did not inspire - particularly underwhelming was the schoolboy error around output.

The ability of the BOD's also appears questionable - particularly around comms.

But the market largely shrugged these concerns off....reinforcing the fact that TLW has strong support in the market at present.

Bonds are strong, little evidence of shorting activity and debt is under control.

Yes there are some operational challenges, but the belief must be there that these can be overcome and improved on.

At 0730 I was considering selling out with a 35p stop. However, I opted to stay in the game a while longer to see what develops.
Posted at 16/5/2024 08:20 by ashkv
HBR, SQZ, PTAL etc appear dirt cheap in comparison to TLW - surprised share price hasn't corrected to sub 30p based on this horrendous update re low guidance for 2024 being the new bar!!!

Share Price -> 36.25p
TLW share price vs 52 Week low of 23.94p on 1 June 23 -> 51.42%
TLW share price vs 52 Week High of 39.94p on 6 Sep 23 -> -9.24%
Brent Price -> $83.20
Outstanding Shares -> 1,456,705,746
Market Cap GBP -> £528,055,833
GBPUSD -> 1.27
Market Cap USD -> $670,630,908
Net Debt USD (YE 2023 Per March 2024 RNS) -> $1,608,000,000
TLW Q1 2024 Production [Excluding 7kboepd of Gas] -> 52,000
TLW 2024 Low-Guidance Excluding 7kboepd gas [Revised Per Q1 Trading Update - May 2024] -> 55,000
TLW 2023 Average Production (Excluding 6kboepd Gas) -> 57,000
TLW 2022 Average Production -> 61,100
Enterprise Value (USD) -> $2,278,630,908
EV/BARREL-USD Q1 2024 Production [Excluding 7kboepd of Gas] -> $43,820
EV/BARREL-USD 2024 Low Guidance Excluding 7kboepd gas [Low Guidance Indicated per Q1 2024 Update RNS] -> $41,430
EV/BARREL-USD 2023 Average Production (Excluding 6kboepd Gas) -> $39,976
EV/BARREL-USD 2022 Average Production -> $37,293
Abandonment / Decommissioning Liability (FY 2023 Results) -> $377,900,000
EV/BARREL (2023 Guidance) with Decommissioning Liability -> $46,606
2P Reserves per FY 2023 Results -> 212,000,000
Enterprise Value / 2P Reserves (Per Barrel) -> $10.75
EV (Including Decom)/2P (Per Barrel) -> $12.53

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