Tullow Oil Share Discussion Threads

[ibug] 16/8/2016 12:09

It appears that Merrill Lynch are expecting a rerate of the stock to approx 285p on higher production to 40,000 barrels net to TLW by the end of 2016.

[kevjones2] 16/8/2016 12:04

Thanks mccracken227. I actually thought TEN had already started operating and an RNS would be to update us on how the start-up went! Very impressive that it was done on schedule too.

[mccracken227] 16/8/2016 11:18

Kev, i think it refers to earlier post saying the taps turn on TEN on thursday 18th so probably rns to confirm.

[kevjones2] 16/8/2016 11:13

ibug, where did you find the information that we have an RNS coming this Thursday?

[ibug] 16/8/2016 10:24

Kenyan Cabinet Approves Bid To Pump Oil Commercially By 2017


Work is currently underway on road rehabilitation leading to the refinery and on the upgrade of heating tanks, and Tullow Oil PLC, which discovered oil in Kenya in 2012 (an estimated 750 million barrels of recoverable reserves) calculates that life of field development costs should be in the region of $25 to $30 per barrel.

[peterlowen] 16/8/2016 10:19

monthly chart looking good.... notice shorting on TLW risen from 11.5% to 12.3%
c/o can only imagine their hoping for a big drop in oil.

Everything else looking good for Tullow.....

[ibug] 16/8/2016 09:35

RNS news due Thursday about the Ten project first oil and also a statement about Kenyan oil development---approx 720 million barrels in reserves to be tapped.

[hazl] 16/8/2016 08:05

the shorts will close at some point......

IMO

[dealer1972] 15/8/2016 22:24

PMO, RKH, IAE

[woodpeckers] 15/8/2016 19:59

Wookie, appreciate oils flying but which O&G stocks were on fire? Most on my radar were at barely blue.

[wookie77] 15/8/2016 19:37

Yes but a bit worrying why these finished red when the O&G sector along with Oil was on fire.

[hazl] 15/8/2016 18:15

Well I am picking up a few of these at this price.
oil won't be out of favour for ever,I'm sure.

IMO

[ibug] 15/8/2016 12:29

Oil surges on possible talks between Russia & Saudi Arabia
Published time: 15 Aug, 2016 09:46


Russian Energy Minister Aleksandr Novak said Moscow is considering engaging in talks with Riyadh on stabilizing oil prices. The possibility of a production freeze between the world’s largest producers has boosted global oil prices.
Read more

Saudi Arabia crude output at record level on high summer demand
“With regard to cooperation with Saudi Arabia, the dialogue between our two countries is developing in a tangible way, whether in the framework of a multi-party structure or on a bilateral level,” Novak told Saudi newspaper Asharq al-Awsat.

“We are cooperating in consultations regarding the oil market with OPEC countries and producers from outside the organization, and are determined to continue dialogue to achieve market stability,” he added.

The news helped recently slumping oil prices to rally. On Monday, North Sea benchmark Brent reached August highs of $47.61 per barrel, while US WTI crude traded above $45 a barrel.

Prices are rising despite data from the US that shows its oil rigs count continued to grow for seventh week in a row, the longest run since 2014.

A production shortage in Nigeria helped offset the US data, however. Nigerian Oil Minister Emmanuel Kachikwu said the country will not produce more than 1.5 million barrels per day (bpd) this year, as militants have seized important oil facilities. The country used to pump almost 2.5 million bpd.

The Russian Energy Minister doesn’t expect the oil market to rebalance next year, while the era of low prices is likely to end by 2017.

Novak’s words come just days after Saudi Energy Minister Khalid al-Falih said the Kingdom is ready to kick off talks with both OPEC and non-OPEC members in order to revive oil prices.


Talks on a production freeze between Russia, OPEC, and other oil producers collapsed in April, after Saudi Arabia demanded that rival Iran be included in the deal. Tehran ruled out cutting production at the time, as it aimed to return to its pre-sanction production level of four million bpd.

An informal meeting of the world’s largest oil producing countries is scheduled for late September in Algeria.

[shaws67] 15/8/2016 09:49

filling the gap to 221p

[mccracken227] 15/8/2016 09:27

Can not work this out, oil up, more buys than sells wtf.

[the grim idiot] 14/8/2016 21:53

And my two larges losses.

[value king] 14/8/2016 17:14

Brent oil closed at $47+ on Friday - are we in for a good week this week for TLW?

TLW and PMO are my two largest holdings now.

[wookie77] 12/8/2016 08:43

could be a big trading volume day today. 45 minutes in and we are over half the volume traded yesterday. shorts closing?

[kevjones2] 12/8/2016 08:15

Nice so far today. I think the TEN news may largely be already factored in by the market but it should help. The PoO is the main driving force behind Tullow's sp, in my opinion.