Tullow Oil Share Discussion Threads

[frazboy] 08/11/2017 08:20

the most interesting aspect of today's results is, that the market is reacting to news that was already in the market. bizarre.

[frazboy] 08/11/2017 08:17

yep, agreed Greg, if the hedge expires out the money, then there's no payment due (except for the cost of the instrument), but if it's in the money then you take it up.

[gregpeck7] 08/11/2017 08:15

Guys you hedge for a price or a minimum. The latter is more expensive but flexible.

[xxnjr1] 08/11/2017 08:12

good point on floor price - I'll contact TLW and see if they can add any colour.

[frazboy] 08/11/2017 08:07

me neither, the release does say floor price, but that is open to interpretation.

[onehanded] 08/11/2017 08:04

shorters will later try to get out as the day closes, will be interesting.

[xxnjr1] 08/11/2017 08:03

frazboy - I'm no expert but I'm assuming that's the price they get, irrespective of what the OP is on the day. TLW don't seem to use collars.

[gregpeck7] 08/11/2017 07:59

L2 looking good

[mreasygoing] 08/11/2017 07:57

Nice stuff, should see a reaction here today to that news. Should see similar from ENQ next year.

[onehanded] 08/11/2017 07:57

i see £2.40 next target to break.

[frazboy] 08/11/2017 07:53

xxnjr1: the hedging, is that a floor price, or is that a price they most take (or pay)?

[gregpeck7] 08/11/2017 07:51

Increased production those years though can ride the oil price. Also future hedges higher.

[xxnjr1] 08/11/2017 07:48

Couple of negatives in there.

Artificial lift didn't work as anticipated on Etom-2, Kenya.

2018/19 Hedging may prove to be a millstone around TLW's neck.

Compared to the declared position at interims, TLW has added another

2018 11,500 bopd @ $50.72
2019 8,000 bopd @ $49.63

Maybe layered those hedges in a bit early?
Unless OP drops back again. It's tricky being the CFO.

[midasx] 08/11/2017 07:45

Great to be getting paid via insurance for oil you are not producing leaving more future reserves.

[onehanded] 08/11/2017 07:37

looking good for this week.

[gregpeck7] 08/11/2017 07:33

Great update. Ahead on all measures.

[billy_buffin] 08/11/2017 07:23

And Mr Shorty...

[xxnjr1] 08/11/2017 07:19

Lets see what Mr Market makes of it!

[cbr60000] 08/11/2017 07:18

Agree with last two posts, given ME unrest as well, bodes well for Tullow, got tipped also by investors mag, I'll be topping up in the SIPP.

[gregpeck7] 08/11/2017 07:14

Strong performance. Throwing off cash now.

[mariopeter] 08/11/2017 07:06

Excellent report. Net debt reduced significantly in this quarter. Its now 3.6B.


Full year 2017 West Africa net oil production guidance, including production-equivalent insurance payments, revised upwards to 85-89,000 bopd (from 78-85,000 bopd), following strong production performance from both TEN and Jubilee.
TEN FPSO commissioning completed; 2017 gross production now expected to exceed guidance of 50,000 bopd following higher rates in the second half of the year; final ITLOS tribunal decision results in no adverse impact to the TEN fields and allows development drilling to resume in early 2018.
Greater Jubilee Full Field Development Plan approval received from the Government of Ghana – drilling to commence in 2018; Jubilee turret remediation work optimised and now planned for 2018 with seven-to-nine weeks of total shut-down.
Uganda farm-down submitted to the Government for approval following signature of pre-emption documentation; deal completion expected in the first half of 2018. Working towards FID in the first half of 2018, with FEED and ESIAs for upstream and pipeline progressing in line with schedule.
South Lokichar Exploration and Appraisal drilling campaign now concluded, results being evaluated and incorporated in the development plans. Early Oil Pilot Scheme (EOPS) is now expected to commence early in 2018.
Araku-1 wildcat well drilled in Block 54 in Suriname; no significant reservoir quality rocks encountered, but presence of gas condensate de-risks deeper plays for future possible exploration.
2017 Capex guidance reduced to c.$0.3 billion; free cash flow of around $0.4 billion forecast for 2017; Net debt at 31 October 2017 reduced to $3.6 billion. The RBL re-financing is on schedule to complete before year-end.

[steve73] 08/11/2017 05:59

Don't forget 200 now is equivalent to (around) 300 this time last year in term of M-cap, after the 25 for 49 Rights issue.

So it's now within c. 10% of last years highs...but with plenty more to come. IMO.

[tallrugbyguy] 07/11/2017 22:05

API another draw on oil, looking good for tomorrow?

[ifthecapfits] 07/11/2017 16:58

hxxp://www.theblaze.com/news/2017/11/07/what-the-heck-is-going-on-in-saudi-arabia/