This morning;Tullow Oil PLC Tullow secures commitments for extension of RCFSource: RNS Regulatory NewsRNS Number : 7017MTullow Oil PLC19 November 2024 |
Started loading this AM. |
So a VLCC is part loading at Bonny/Nigeria, after which it's apparently collecting a cargo from Jubilee. It possibly may arrive sooner than predicted by marine traffic, but if it doesn't that suggests production is now kind of c.82.5K!
Update on my previous above. The tanker from Bonny was cancelled and replaced with another from NW Africa that arrived 9am this morning. It hasn't started loading as standing off about 30kms south of the FPSO. Will most likely start loading tomorrow which again suggests c.82.5K. |
So if you can contain your unbridled enthusiasm until the 28th you may have some of your questions answered. However knowing your determination to extract information for every cent of expenditure and where it came from and to where it will be assigned I doubt you will be satisfied. |
Perhaps some unplanned maintenance to get the output up. Perhaps this leaked and is the reason for the Oct-Nov fall in share price. |
Rec'd the following response to a Q e-mailed to IR
"Yes, the flotel is contracted to support both the 4D seismic programme to be completed in early 2025 and the scheduled Jubilee maintenance programme.
And yes, a November Trading Update is scheduled for 28 November 2024." |
I'm sure they will call you before they order the sandwiches for the next board meeting. |
 "xxnjr - 06 Nov 2024 - 13:28:16 - 60782 of 60797
Different subject. A bit odd. According to Marine Traffic a 60,000 ton 500 bed 'Floatel' is on its way to Jubilee with an ETA of 13/Nov. Must be an error surely?"
Well it's the 13th today and a 500 bed hotel is indeed near Jubilee! Even more surprised to uncover this
"New Contract Awarded: Arendal Spirit to Support Tullow Ghana's FPSO Maintenance Campaign
07 NOV 2024
We are excited to announce a new flotel contract with Tullow Ghana to support planned maintenance activities on their FPSO in Jubilee Field offshore Ghana.
This six-month contract, set to commence in November 2024, will utilize the Arendal Spirit DP3, a 500-pax accommodation unit, providing safe and dependable lodging for personnel engaged in maintenance activities. Our partnership with Cross Energy Ghana makes this project possible, demonstrating our shared commitment to advancing energy support services across the region.
We anticipate a successful campaign and look forward to further strengthening our relationship with both Tullow Ghana and Cross Energy Ghana."
All this seems new to me! Shouldn't we have been told about this. Leasing a 50,000 ton dynamically positioned 500 bed hotel for 6 months plus whatever the upgrade will cost sounds expensive? Will production be effected? What is the scope of the work? |
This share really is a shower of sh*t..... |
Yet again if it does....... |
So a VLCC is part loading at Bonny/Nigeria, after which it's apparently collecting a cargo from Jubilee. It possibly may arrive sooner than predicted by marine traffic, but if it doesn't that suggests production is now kind of c.82.5K! |
The pay n perks they dish out are off the scale. Most uk oilies are the same. |
This cr*p is back on it's knees, when poo goes up this goes no where, when poo goes down this drips down a drain. .sh*t show... |
Never mind apologies from Rahul, what about apologies from the board that let his performance go unchallenged for 4 years and not demanding better, on behalf of shareholders. No accountability in this company whatsoever. |
Whilst that is true zingaro, the sad truth is that all Rahul's lofty predictions of jam tomorrow for Kenya, TEN, Jubilee, Cairn Merger, a meaningful Ghana gas sales agreement, Jubilee "at 107K" etc etc have been empty promises. What is annoying is Rahul seems to think he is doing a good job! A bit of humility and an apology to shareholders for making empty promises and strategic errors is what is called for IMHO. Not that you will get it. |
Sorry 1,591 days and counting! |
Apparently Rahul's latest 'plate spinning' wheeze is to suggest developing Kenya will solve South Sudan's oil evacuation issues. He'll say anything to give false hope to shareholders and avoid the inevitable Kenya write down! |
OMG Rahul has completely lost the plot (again) in a very Rahul 'posterchild' way. He needs firing immediately.
It's 1,498 days and counting and not one cent of value has been added for shareholders. The company has no future with this ineffective, failing CEO.
It's incredible that he thinks Tullow is a 'posterchild' or whatever adjective/noun he used in this interview. It and its CEO have become a laughing stock due to failure to deliver.
What we need is a CEO who talks about and delivers positive, consistent shareholder returns. And talks not waffle but about the actual stuff that matters, producing oil and gas. |
The Q from the KOS call, which is why I suspect the rig is coming in slightly earlier than they previously anticipated.
Charles Meade. And then on the '25 Jubilee drilling, I wonder if you could talk a little bit more about what the priorities are there? I mean obviously, you're trying to get the FPSO up to capacity. But I imagine that whatever you learn from this - from your 4D seismic shoot, it's going to be - not going to have enough time to - for that to inform your '25 drilling, but would maybe confirm that and just talk about the goals of the '25 drilling program are?
Answer "..... We'll start at the next phase of drilling on Jubilee, Charles. And as we've sort of remarked, I think that I believe the 4D is going to have a big impact on that. And it's - the actual line - the acquisition techniques, it's a towed streamer. It (the acquisition technique) hasn't actually moved massively. But clearly, the processing has both in terms of the quality of what you get and actually the timeliness of it, you get the product a lot earlier, yes.
So we have a sort of a challenge to manage when we start (drilling), the earlier we start the better, but how do we ensure that we're fully incorporating that learning. Now there are a couple of wells where we know that the 4D is not going to have a big impact. So we have sort of a couple of wells that are secure, from that perspective. And then, you start to feather in the additional information that you get from the 4D seismic.
So in a way, it's just getting the right balance of how do you ensure you're taking full advantage of the seismic, but not waiting too long, by where you're diminishing the impact of the infill program. So I think, we've gotten the balance of that right now.
===============================================================
Different subject. A bit odd. According to Marine Traffic a 60,000 ton 500 bed 'Floatel' is on its way to Jubilee with an ETA of 13/Nov. Must be an error surely? |
Lets hope that expected trading statement actually moves the price up and not drip drip down like at present. If cr*p ever hits 60p again, that is me gone, this has been another nightmare share like PFC.... |
There's a trading statement in a week or so, that should give you all the info that you need. |
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