Tullow Oil Share Discussion Threads

[gkp_banggone] 12/2/2019 12:21

ðŸ¤-SALE BY SCHEME OF ARRANGEMENT ANNOUNCED BY 8:00 AM FEB 19ðŸ'ŒYOU CAN TAKE THAT TO THE BANK 😊 AND YOU ARE VERY WELCOME😊ðŸ'ŸðŸ–¤ðŸ–¤ðŸ'–ðŸ'–ðŸ'œThe more their proxy Citigroup /Pareto have bought in the higher holders profits at t/o:ðŸ'–ðŸ'–ðŸ'ŸðŸ'ŸPeel Hunt issued a recent note on the company.#Valuation and recommendation. Following the above tweaks to the production profile and capex, we revise our core NAV to 392p from 387p. We continue to conservatively include no value in our target price for the 239MMbbl gross 2C in Shaikan, worth 34-136p/sh risked-unrisked.Gulf Keystone Petroleum continues to stand out as one of our top sector picks and we reiterate Buy.#They are being super CONSERVATIVE 🌋ðŸ'‹!They use 58% WI when we now know it remains 80%.So their core valuation must be revised by this, 38% higher.The do not place any value on 2C, actually 330m at 80% WI, and even at a very modest $ 2.3 boe this adds further £2 plus.They are only using $3.4 boe for 2P when MOL report $8 and Shamaran higher.So low base-case in my assessment is 470m 2p, 330m 2C (which would in my be treated as effectively 2P when new FDP approved)Working on 800m 2P without adding any value for the MOL recently reported upside and using a stil very modest $10 boe provides $ 8bn asset resource value.This is still very modest in that a land based resource of this size would be strongly fought over by IOC.With 229 million shares, using dollar exchange of 1.29, £ 27 per share would be the minimum I would expect the company’s major owners to accept.It would not be a surprise to me if this number doubled.🎈

[subsurface] 12/2/2019 12:02

A new production well in service on Ten,some comment if they are to farm down in Guyana,Oranduik
Discussions making progress in Uganda,and partners helping with CGT .remain on track for FID mid year.
Dividend payment details,
On my wish list I would like to know how many prospects in the Kanuku block only comment so far a couple! so we may get some more information
and detail about first drill with location Map and Risk.

[ifthecapfits] 12/2/2019 11:11

Results tomorrow should be interesting. Also look forward to any updates on Guyana. What are people expecting?

[gkp_banggone] 11/2/2019 09:27

This IS about to be taken overRNS - SOLD BY SCHEME OF ARRANGEMENT By 8:00am Tuesday 19th FebruaryðŸ'‹ðŸ'ŒYOU CAN TAKE THAT TO THE BANK 😊. ðŸ'–AND YOU ARE VERY WELCOME ðŸ'–ðŸ'ŸðŸ–¤ðŸ–¤ðŸ'–ðŸ'–ðŸ'œThe more their proxy Citigroup /Pareto have bought in the higher holders profits at t/o:ðŸ'–ðŸ'–ðŸ'ŸðŸ'ŸPeel Hunt issued a recent note on the company.#Valuation and recommendation. Following the above tweaks to the production profile and capex, we revise our core NAV to 392p from 387p. We continue to conservatively include no value in our target price for the 239MMbbl gross 2C in Shaikan, worth 34-136p/sh risked-unrisked.Gulf Keystone Petroleum continues to stand out as one of our top sector picks and we reiterate Buy.#They are being super CONSERVATIVE 🌋ðŸ'‹!They use 58% WI when we now know it remains 80%.So their core valuation must be revised by this, 38% higher.The do not place any value on 2C, actually 330m at 80% WI, and even at a very modest $ 2.3 boe this adds further £2 plus.They are only using $3.4 boe for 2P when MOL report $8 and Shamaran higher.So low base-case in my assessment is 470m 2p, 330m 2C (which would in my be treated as effectively 2P when new FDP approved) to UIWorking on 800m 2P without adding any value for the MOL recently reported upside and using a stil very modest $10 boe provides $ 8bn asset resource value.This is still very modest in that a land based resource of this size would be strongly fought over by IOC.With 229 million shares, using dollar exchange of 1.29, £ 27 per share would be the minimum I would expect the company’s major owners to accept.It would not be a surprise to me if this number doubled.🎈 bcx

[cashandcard] 11/2/2019 09:08

manicat,


Agree. Put simply, they need to go all out in Guyana. The value that stands to be outed is phenomenal, CPR for Orinduik has 3bln boe over 10 or so leads. Given Exxon/Hess in Stabroek before and after, it may well be the case all stakeholders are surprised to the upside.


Cash

[manicat] 10/2/2019 10:37

3 or 4 more wells drilled in guyana would be far more useful for shareholders than a dividend imo

[subsurface] 10/2/2019 07:02

Yellow Tail next for Exxon located 6 miles west of Tilapia-1 .

[mccracken227] 08/2/2019 12:24

Full year results Wednesday, let's hope for a divdend

[mariopeter] 08/2/2019 10:22

Thanks for all the links guys. Uganda sanction will change this share....all those extra barrels of oil for no outlay. Discoveries in Guyana would change it more. Still holding...

[gkp_banggone] 07/2/2019 09:05

🕰ï¸?SALE BY SCHEME OF ARRANGEMENT AT HUGE PREMIUM ANNOUNCED NO LATER FEB 19 ðŸ'ŒYOU CAN TAKE THAT TO THE BANK 😊 AND YOU ARE VERY WELCOME ðŸ'–🖤🖤ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'–ðŸ'œThe more their proxy Citigroup /Pareto have bought in the higher holders profits at t/o:ðŸ'–ðŸ'–ðŸ'ŸðŸ'ŸPeel Hunt issued a recent note on the company.#Valuation and recommendation. Following the above tweaks to the production profile and capex, we revise our core NAV to 392p from 387p. We continue to conservatively include no value in our target price for the 239MMbbl gross 2C in Shaikan, worth 34-136p/sh risked-unrisked.Gulf Keystone Petroleum continues to stand out as one of our top sector picks and we reiterate Buy.#They are being super CONSERVATIVE 🌋ðŸ'‹!They use 58% WI when we now know it remains 80%.So their core valuation must be revised by this, 38% higher.The do not place any value on 2C, actually 330m at 80% WI, and even at a very modest $ 2.3 boe this adds further £2 plus.They are only using $3.4 boe for 2P when MOL report $8 and Shamaran higher.So low base-case in my assessment is 470m 2p, 330m 2C (which would in my be treated as effectively 2P when new FDP approved)Working on 800m 2P without adding any value for the MOL recently reported upside and using a stil very modest $10 boe provides $ 8bn asset resource value.This is still very modest in that a land based resource of this size would be strongly fought over by IOC.With 229 million shares, using dollar exchange of 1.29, £ 27 per share would be the minimum I would expect the company’s major owners to accept.It would not be a surprise to me if this number doubled.xx🎈 xxxxxx

[oilretire] 07/2/2019 07:40

Yep, lots of articles out there. 12!! discoveries to date

[subsurface] 06/2/2019 22:24

Thanks Gersemi,Some more detail here. Waiting for June!


Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbot, Longtail and Pluma discoveries. Tilapia-1 encountered approx. 305 feet (93 meters) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet (5,726 meters) in 5,850 feet (1,783 meters) of water. The well is located approx. 3.4 miles (5.5 kms) west of the Longtail-1 well.

The other discovery was at the Haimara-1 well, which encountered approx. 207 feet (63 meters) of high-quality, gas-condensate bearing sandstone reservoir. The well was drilled to a depth of 18,289 feet (5,575 meters) in 4,590 feet (1,399 meters) of water. It is located approx. 19 miles (31 kms) east of the Pluma-1 discovery and is a potential new area for development.

[gersemi] 06/2/2019 11:15

More Exxon discoveries in Guyana

[bootycall] 06/2/2019 09:37

Looks like things are chugging along nicely !

[subsurface] 05/2/2019 10:23

Interesting documentary on Aramco and Saudi

[subsurface] 03/2/2019 13:45

Yes indeed bet Tullow remember him too, remember the court case, Tullow paid and recovered Taxes to get the deal done.

[oilretire] 03/2/2019 10:57

Speaking of Uganda, anyone remember Tony Buckingham & HOIL?? Looks like he's back in a big way....

[subsurface] 03/2/2019 01:34

Uganda Tanzania pipeline.
Quite a lot of detail here and another meeting February 7th,To agree Arbitration and Tax issues. Looks like the push is on.!




They agreed on registration of local companies, security of the pipeline, immigration, national content, insurance of the project, environmental obligations, investor duties, relevant standards and procedures, construction and operation of the project, as well as the required stability clauses.
Stability Clauses good for the partners!

In Tanzania, nothing is pending in terms of the law. All our laws are within the agreement. We have only now to take the signed agreement before our parliament for ratification,” Minister for Constitutional and Legal Affairs Palamagamba John Kabudi said at the launch of the IGA.

[subsurface] 02/2/2019 08:15

Welcome Oilretire, be nice if Cnnoc stump up too!

[oilretire] 02/2/2019 07:53

Cheers for the link, great news if true. Total willing to stump up half of the tax bill to break the deadlock....


Another key item that was on the agenda during the State House meeting was the failure to come to some common agreement that would lead to the closure of Tullow Oil’s $900 million farm-down of 21.5 per cent of its Uganda interests to Total and Cnooc. A capital gains tax bill of $167 million, which Tullow Oil disputes, has delayed the completion of this deal.

Tullow Oil argues that the proceeds from the sale of part of its Uganda interests will be invested in the crude oil pipeline as a share of its of its capital investment and, therefore, should not attract a capital gains tax. The Uganda government, on the other hand, says Tullow Oil has benefitted from the sale and, therefore, the deal should attract a tax.

Jessua said that Pouyanne suggested to Museveni “a pragmatic approach” to achieve the closing of the Tullow transaction, which Museveni agreed to. It is not clear what this pragmatic approach is all about, but our sources say Total E&P suggested that it would pay about $80 million to $85 million of the tax bill. We could not independently verify this because of the sensitivity of the State House meeting.

[subsurface] 02/2/2019 03:10

Stevenstevo,This may help!

Jessua said that Pouyanne suggested to Museveni “a pragmatic approach” to achieve the closing of the Tullow transaction, which Museveni agreed to. It is not clear what this pragmatic approach is all about, but our sources say Total E&P suggested that it would pay about $80 million to $85 million of the tax bill. We could not independently verify this because of the sensitivity of the State House meeting.

[stevenstevo] 02/2/2019 00:28

Bought in at 261 and have averaged down , now at 209 should see some blue next week was going to buy eco Atlantic at 42 but punted tlw instead haho.

[stevenstevo] 02/2/2019 00:27

Bought in at 261 and have averaged down , now at 209 should see some blue next week was going to buy eco Atlantic at 42 but punted tlw instead haho.

[subsurface] 01/2/2019 23:59

Gordo58 Please could you tell what is the significance of that? what does it tell a smart investor,thanks SS

[gordo58] 01/2/2019 16:38

1 in 4 of the shares traded today shifted in the closing auction hmmmm….