Tullow Oil Share Discussion Threads

[billy_buffin] 19/7/2016 11:29

ENGIE DRILLING THE CARA EXPLORATION WELL IN THE NORTH SEA.

License partners in PL 636: ENGIE E&P Norge AS (30% and operator); Idemitsu Petroleum Norge (30%); Tullow Oil Norge (20%); Wellesley Petroleum (20%).

[wardrv] 17/7/2016 19:01

New West Africa Energy Hotspot About To Go OnlineBy Daniel Stemler - Jul 15, 2016, 5:51 PM CDTInteresting read on oil price.com about TEN starting up soon.

[cricklewood] 15/7/2016 06:06

Inside traders targeting new company floats: Watchdog probe into sudden spike in suspicious share deals

Read more:

[steve73] 15/7/2016 04:05

useful website that - thanks mcsean.

could they be covering their shorts with physical longs... which they will swap when they've regained their net positions...?

[mcsean2164] 14/7/2016 13:21

Interesting theory but no sign of shorts unwinding

[steve73] 14/7/2016 02:43

I'm pretty sure this was shorted massively on the day of the bond issue, by the (potential) bond purchasers simply as a way of driving the conversion price down. These shorts are now slowly unwinding and the price recovering accordingly.

One could argue that Tullow were stupid to announce in the morning that the conversion price would be set by that days weighted mean price - it was an open invite to short the price down. But if they'd tried to place that number of new shares, it would have needed to be at some discount to the previous days price, and it would have caused a drop anyway. At least this way they get more and the bond holders convert more cheaply. A win-win, unless you're an existing holder needing to sell in the short-term.

If anyone wanted to buy 9% of the company (the approximate additional shares the conversion added) on the open market the price would have rocketed. So buying the bonds just for the conversion is a cost effective method - by shorting to get the conversion price down will allow the bond holders to convert sooner.

It was a great buying opportunity last week (of which I took advantage), and the window of opportunity is slowly closing as the shorts continue to get unwound. Certainly good for short-term trading.

The additional funds will help with ongoing costs, and once converted will not add to the debt, although the resultant dilution will reduce the rate of share price rise somewhat.

...at least this is how I see it.

[mcsean2164] 14/7/2016 00:16

hxxps://www.thestreet.com/story/13633257/2/tullow-s-punishment-for-its-convertible-bond-is-misplaced.html

[mcsean2164] 14/7/2016 00:12

It's disconcerting to see the shorters flocking back to TLW, especially with the reduced price of sterling.

Shorts peaked at 9.65% on Feb 8th when the share price was 175p.

We are now at 225p or 28% higher and it looks like shorts are peaking again. As of 8th July, we are back at 9.5%.

If it's insider trading, news on TEN or otherwise share price is screwed if it's technical and TEN comes online, there may be a nice surprise to the upside.

Is it illegal to loan stock to yourself, i.e. could odey be loaning tlw from a subsidiary to the main company, main company pay interest to subsidiary? How much interest would Odey have to pay to hold his shorts? It can't be cheap..

[nicebut] 13/7/2016 12:54

I notice a few shorts were opened on these over the last 2 weeks...Bit of short closing going on today perhaps? Seems to be running against the PoO movement...

[peterlowen] 13/7/2016 07:04

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13 Jul Barclays... 320.00 Overweight

[mercer95] 12/7/2016 15:00

A finish above £2-30 would be good, gap up in the morning towards £2-40 would be sweet, worth holding out for ten & news on Guyana test well.

[ifthecapfits] 12/7/2016 09:36

Come on TEN - where are you beauty.

[mcsean2164] 12/7/2016 00:34

Significant upside
Meanwhile, Tullow Oil’s (LSE: TLW) share price isn’t dependent on the performance of the UK economy. However, it’s closely linked to the price of oil. A downturn in the price of black gold can’t be ruled out over any time period, since supply remains high and demand sluggish. This means that the billions of dollars in writedowns that were seen in recent years could return, which is a clear risk to Tullow’s financial outlook.

However, with Tullow trading on a PEG ratio of only 0.1, it seems to offer limited downside and significant upside. Its new project in Ghana is about to come on-stream according to the company’s update at the end of June. This is likely to be a game-changer for the company and should aid cash flow, thereby seeming to make Tullow’s debt profile more manageable. This could cause investor sentiment in the stock to improve even after Tullow has risen by 54% in the last six months.

[billionaire1] 11/7/2016 09:18

sub £2 today
I hope not

[billy_buffin] 08/7/2016 09:10

BUZZ-Tullow Oil sells first oil cargo from Ghanian TEN field

* The 650,000 barrel cargo is due to load Aug. 28-29. The tender closed on Thursday afternoon but the winner could not be immediately confirmed.
* The grade is sweet with an API (Stuttgart: 565969.SG - news) gravity of about 33 degrees, one of the sources said.
* The TEN field is expected to come on stream in the next three to six weeks and produce an average of 23,000 barrels-per-day (bpd) gross this year, Tullow said at the end of June.
* Tullow's key asset in Ghana is the offshore Jubilee field that produced around 100,000 bpd in 2015, according to its website. (Reporting By Julia Payne)

Yahoo finance...

[peterlowen] 08/7/2016 07:07

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8 Jul Goldman Sachs 270.90 Buy
7 Jul Davy Research N/A Outperform

[billionaire1] 07/7/2016 23:44

how much did this latest drill cost

[billionaire1] 07/7/2016 13:19

more good news

[oilretire] 07/7/2016 13:04

7 July 2016 - Tullow Oil plc announces that Tullow Oil Norge AS has completed drilling of the exploration well 16/5-6 on the Rome prospect in production licence PL776 in the Central North Sea. The well did not encounter any hydrocarbons and will now be plugged and abandoned.

The well was drilled to a total vertical depth of 2,319 metres below sea level by the semi-submersible Borgland Dolphin rig in a water depth of 98 metres. Tullow Oil Norge AS has a 40% operated interest in licence PL776 with Concedo, Wintershall and Petoro each holding 20%.

[runwaypaul] 07/7/2016 13:03

d*u*s*t*e*r

[zingaro] 07/7/2016 12:48

Perhaps that includes Odey

[phillis] 07/7/2016 11:21

expect the convertible buyers have been shorting the ordinaries
standard hedging practice