Tullow Oil Share Discussion Threads

[itsme0] 20/2/2017 10:03

Possibly aiming for the gap at 230 to be filled before we go back up

[dealer1972] 20/2/2017 09:23

Well the last time ta indicators were similarly aligned was back at the end of August 2015 where the share price rose from a low of 181p to 224p before heading back down. So 257 to 280 wouldn't be inconceivable. Depends on POO of course.

[master rsi] 20/2/2017 09:05

268p +8.70 (+3.36%)

It seems like the right time for the bounce today the fall last Friday was smaller and was bouncing from the 259p and 261 magic numbers.

A marked up from the start of the day and holding with the gains since as the Oil price rise is helping with the bounce

[tyler90] 20/2/2017 09:05

Dealer1972...testing your brains...what is your tp for this short/medium term rally? I am looking at 280

[dealer1972] 20/2/2017 09:00

Couple of things influenced, POO on the rise and Barclays this morning re-iterated BUY but more importantly Jeffries upgraded from SELL to BUY with an increase in tp from 250p to 340p. Concern would be the gap left behind this morning at 259.3p which is likely to be re-visited after this rally in the short-medium term.

[sawadee3] 20/2/2017 09:00

They popped months ago. Crispin is the clown of fund managers these days. Common knowledge :-)

[sawadee3] 20/2/2017 08:56

Does Odey have any actual balls left to squeeze?

[tyler90] 20/2/2017 08:50

Is there going to be a squeeze on the shorts or is this a dead-cat bounce?

[sawadee3] 20/2/2017 08:37

Good morning nicebut. Didn't see your post, hopefully answered now :-)

[sawadee3] 20/2/2017 08:35

Well done all last weeks buyers, this is only the start of the rally :-)

*Rubs Hands*

Happiest days of our lives chaps :-)

[nicebut] 20/2/2017 08:30

So you`re out sawadee?

[sawadee3] 20/2/2017 08:06

There's nothing quite like starting the week with insta-profit :-)

As fully expected :-)

Easy game :-)

Happy days chaps :-)

[cricklewood] 18/2/2017 05:59

Environmental campaigners see him as an oil and gas industry stooge who is "lukewarm" on the threat posed by climate change - they fear that hard-won environmental regulations will be overturned.

[master rsi] 17/2/2017 17:09

The Oil Man: Jersey Oil & Gas, EnQuest, Ithaca, Bowleven
Malcolm Graham-Wood | Fri, 17th February 2017 - 12:37
The oil price is almost the same as it was last Friday, nothing is moving it at the moment almost as if it was the subject of price fixing, à la gold and silver of yore, not any tomfoolery I assure you.

This week saw another set of whopping inventory increases which only seem to steady the price. Indeed, that is a subject worth looking at on its own. Money managers are still incredibly long and yesterday, chat out of Opec was that they are considering extending their pact with non-Opec countries and indeed possibly increasing it.

They will need to do just this and then, maybe next year they might be able to make out like bandits. On that subject the only bearish stuff comes from those who worry about US production to whom I would say, don't worry your pretty little heads about it, whatever they can produce isn't enough to move a determined market…

Jersey Oil & Gas

A corporate and operational update today from one of the new members of the bucket list and all appears to be going pretty well. Statoil are close to signing a rig and services contract for the Verbier well expected to be drilled in the North Sea in the summer, JOG are carried up to $25 million worth of costs here.

Azinor has announced that it intends to drill the newly named 'Partridge' (Homer) prospect on farmed-out Jersey Oil & Gas (JOG) acreage later this year, success here would trigger payments of $2 million for a discovery and another $2 million at the time of a successful FDP.

Finally, JOG are committed to acquiring some producing acreage to balance their portfolio and say that the number of opportunities remains good as a number of sellers have come to the market recently. JOG is an interesting play and still remains cheap if you bear in mind what might be when the drill bit turns at Verbier. Significant skill will be needed in trading the shares, but with the underlying upside so substantial, the risk at JOG is not being involved.

EnQuest

Good news from EnQuest (ENQ) this morning as news from Kraken is that the FPSO has arrived and has been hooked up successfully. With delivery of first oil on track for Q2 this year things are beginning to look up for ENQ and it probably deserves a better reception than that given by the market this morning.

Ithaca- Alert, being sold out on the cheap…

Along the same sort of lines, Ithaca (IAE) has announced that the Stella Field has started up production, albeit some time after the market had expected. Having said that, the news will be exceptionally good for the company as revenues will start to flow and debt can be paid down.

I'm sure that this is what Delek thought when it bid for the company at a modest, nay measly, 11% premium last month. Despite it being the star performer in the 2016 bucket list, as soon as the good times are in sight and meaningful rewards are offered, management and shareholders jump ship at the first sign of men from the east bearing gifts.

I would like to think that those in decision making positions whether they be institutional or retail would think twice before selling out like the management have done, after all Ithaca is the original wallet warmer…

Sundry

Bowleven (BLVN) has issued a long list of counter points following COC's recent letter to shareholders. Having said my piece earlier I do not intend to do so again, shareholders can make their decisions between now and March 14th.

Solo (SOLO) raised £2 million by issuing 400/- shares at 50p, a raise that had been telegraphed for some time but given that the shares have roughly doubled recently one can understand management's desire to wait!

Gulfsands (GPX) also appeared with a begging bowl, theirs was to lenders who popped up with £4 million. 37.3% came from Waterford, 31.4% from Blake Holdings (Richard Griffiths) and 31% from ME Investments which I think we can have an inspired guess at. I am slowly, very slowly, thinking of taking another look at GPX and am looking forward to a meeting with new MD, John Bell.

And Chariot (CHAR) announced a re-jig of their licences in Morocco ensuring that they retained exposure to the Kenitra permit and its possible upside. With no other commitments, CHAR will run 1,000 square kilometres of seismic which will cost about a third of what it would have been a couple of years ago.

With nothing to drill at all this year CHAR has been off the radar screen, but the management, who describe themselves as being 'cautious but not conservative' deserve credit for staying in the game. With Rabat Deep to drill next year, it may be the time to revisit the watch list.

[master rsi] 17/2/2017 16:09

Late this afternoon 260p seems support despite a weak order book

[sawadee3] 17/2/2017 15:15

So 258 is the best the shorts could do then. Weaksauce :-)

Looking forward to a nice rally next week :-)

Happy days chaps :-)

[master rsi] 17/2/2017 14:14

The 257.50p intraday double bottom seems is holding so far as is bouncing from this point
Oil price is down $0.40

Intraday chart

[master rsi] 17/2/2017 12:02

It seems it want to bounce from around the 78.6 Fibonacci retracement and at the same time 200 days MA. Order book has been strong on the bid side since 11am
earlier 89 v 122
now 118 v 114
259p and 261 are the magic numbers,

red line 200 days MA

[sawadee3] 17/2/2017 10:08

C'mon Tullow, don't be a buzz-kill you know you want to go into the weekend on a high :-)

All the same, i suspect we may have a good week next week :-)

[mariopeter] 17/2/2017 09:56

free stock charts from uk.advfn.com

[mariopeter] 17/2/2017 09:16

free stock charts from uk.advfn.com


Blue= 200 SMA

[dealer1972] 17/2/2017 08:50

Bounced off 200day SMA, see if it holds. Long way to the gap fill at 218.6p. Interesting few days ahead.

[nicebut] 17/2/2017 08:45

Just lumped on ....Am I too early?

See a few ii have reduced their shorts a tad -WorldQuant and Millennium ..... Still 14.44% short though...

[sawadee3] 17/2/2017 08:45

Can't resist :-)

If TLW continues like this, i'm going to finish up with quite a holding :-)

*Rubs Hands*