Tullow Oil Share Discussion Threads

[chessman2] 18/1/2019 00:02

ss, by coincidence I have also held for 20 years and was also convinced I would sell at £20 when the takeover arrived.

Alas they fell and fell, and £20 was left as a dream. Fortunately my average price is less than yours so I am only a bit under water. However I enjoyed the AGMs in the City when food and wine flowed.

[subsurface] 17/1/2019 23:01

Mcsean agree with you about Aiden he put Tullow together from the very start a risk taker with a vision.He always said Tullow was for the long term!but how will history judge him what he did or what he left behind.
To be very fair had my chances at 16 pounds ,had a plan to sell at 20 and learn how to day trade Tullow just on the ups and downs we have had quite a few opportunities over the years I was a man with a plan.
With the shares I have I can make a recovery quite quickly or on a take over situation and can hold another 6 years or more such is my resolve.
On the share price agree with you on the oil price the industry needs $70 to be able to invest and Saudi needs more.and a bit of luck with the drill bit and bingo!
Shale oil is a worry if POO goes too high.
I was hoping the big share holders would pressure them, your right it is time to give them a shake, I will put something together .
value all your comments, thanks chaps,

[xxnjr] 17/1/2019 18:27

If anyone ever needs to contact IR, then email their IR head
[e-mail]
he always get back straight away, and is very helpful.

[mcsean2164] 17/1/2019 16:39

SS,

I've been in touch with tullow investors relations twice. The first time was like talking to a recently graduated spoilt brat, second time was a lot better.

I would say with 99.9% certainty, they are not monitoring this forum.

AFAIK, Aidan heavey was the visionary, tullow are now devoid of vision and competence. Imho, the oil price recovery should bring tullow back above €2.50 and if Guyana comes in happy days.

There's the carrot and the stick. These clowns need the stick. I'd definitely recommend writing directly to them, give them a bit of stick!

[mcsean2164] 17/1/2019 12:58

Great post ßs, may be worth sending a mail to that effect to tullow!

Seems like the last good news was itlos ruling.. groan.

[xxnjr] 17/1/2019 11:44

good news - I've managed to reclaim my xxnjr moniker without the "1". Never felt at home with that "1" on the end. Just like the good old days SS. May bring better luck with TLW!

SS - dunno if TLW is your main stock holding? If it is then perhaps a bit of diversification at some point would be good? BP and Shell (for example) come with a pretty good dividend. OTOH TLW may get back to 300p with Guyana success.

[subsurface] 17/1/2019 03:05

If you were to cherry pick Tullow Ghana has proved itself a good place to be and generating cash. We do look to have a good position in Guayana For a possible transformational change going in after EXXON has done the spade work is the way to go, not always trying to be a leader with an EGO and keep the FPSO strategy, when things go wrong can sail away!
I would like to see them exit Uganda sell up and pay down some of the debt and farm down in Kenya. don,t like all this cross country pipeline stuff too many problems adds years to cash recovery and security issues as well.
Shrink the company to a manageable size run the show with a CEO and Finance director until the good times return. just my thinking.

[subsurface] 17/1/2019 02:24

My position is that I have 60k shares in Tullow that I have built up over 18 years I have never sold a share it was always for the long term and still is.
I never questioned what Tullow did, because many things are not fully under there control such as POO and working in places which can be unstable.
I am sorry to say that my comments turned Negative after the sea drill and then Uganda mess, always thought Kosmos were good partners to have not sure what the relationship is like after that spat,
I was thinking that what happened is Tullow had a cash flow problem at a point in time and by stopping the drilling were able to move the problem to a later date where they were more solvent and took the hit.
with a few successes under there belt Tullow started to think they were a super major loads of staff flashy offices here and there and inflated salary,s and benefits to match, they tried to move too fast and look at the mess.
time for them to take a very hard look at Tullow be realistic and not over exposed in unstable areas in my opinion. .
I posted a long time ago that the oil price helped them out Saudi and Tullow need a strong oil price,Saudi is the key.

[billy_buffin] 16/1/2019 16:06

+Screw up at Jubilee Turret Fiasco. Complacency seems to rule. Still living in the glory days I guess.

[xxnjr1] 16/1/2019 15:18

Would not normally suggest this. Does anyone think management may be giving up, with a view to flogging off the company? Those stock options presumably would be awarded if there was a change of control?

I mean screw up Uganda, park Kenya in a place where nothing is happening, screw up Peru, screw up Seadrill, Cormoros maybe screw that up too - it's years away anyway. There wasn't much meat on the "organic" in todays release was there (Ghana/Guyana excepted). And ISTR, the CEO uttering words to the effect of "why am I doing this?" during the recent CMD, as if we should all be grateful, for the long days put in.

[subsurface] 16/1/2019 14:46

Then trying to keep us sweet with the dividend so they don,t get voted out!

[xxnjr1] 16/1/2019 14:11

the worst aspect..... greedy management awarding themselves stock options for woeful under performance.

[subsurface] 16/1/2019 13:53

A mountain to climb if we are lucky!

[mccracken227] 16/1/2019 13:49

Like Guyana speculative.

[subsurface] 16/1/2019 13:36

on the law suits ,a competent management!

[subsurface] 16/1/2019 13:22

So what do Tullow do Peru, Zambia Comoros Islands!Do a little research what a mess!

[mccracken227] 16/1/2019 13:12

I am sure that is the problem subsurface, Uganda has been a curse, Kenya seems a long way off, we desperately need Guyana to be a winner or we are left with Ghana and whilst doing okay it will not pay debt fast enough. We need an aggressive management to sort out all these problems and law suits etc.

[subsurface] 16/1/2019 13:02

They thought they were the Tops when we were 16 pounds a share it went to there heads
the problem is the mind set ,they still think they are! we need change

[mccracken227] 16/1/2019 12:50

Seems to have lost its way of recent, maybe Guyana will be our salvation, but if we miss there then the outlook is not great.

[subsurface] 16/1/2019 12:50

It was 2006 when Tullow started to drill in Uganda so to first export circa 14 years
by contrast 3 and a half years FPSO offshore,says it all

[lonrho] 16/1/2019 12:11

some broker comment from BMO on ft market live on ft alphaville a couple of minutes ago, target price £2.38.

[mariopeter] 16/1/2019 11:28

Yes xx would likely mean selling current but non performing assets. Thanks on JOG btw.

[xxnjr1] 16/1/2019 10:38

Heavens above mariopeter, imagine the debt numbers if they required another FPSO for Ghana.