Tullow Oil Share Discussion Threads

[bootycall] 01/5/2019 13:31

Regarding Uganda, I believe the CGT amount due from Tullow and method/timing has been been agreed by all parties. Linking FID to watertight contracts with reliable arbitration procedures was one of the last items to fall into place. Pleased to see that the Ugandan and Tanzanian governments have ceded legal responsibility to British Courts with respect to land arbitration hearings. Things should move very quickly now because I believe all the main contracts are being executed together to avoid the usual shenanigans, etc. FID still expected in June.
hxxps://www.theeastafrican.co.ke/business/London-to-arbitrate-EA-oil-pipeline-project-rows/2560-5083996-q54lf0/index.html
I believe Ten was offline for about 2 weeks. It always has planned annual shutdowns.....it was the gas compressor problem that caused the problem to 1Q production (which is now fixed as far as I am aware ). The impact of such an event is measured in pennies per share... when looking at risk adjusted NPV on reserves. Production will now be at record levels.I bought more shares today. When you look at the drilling costs and terms in Guyana ( approx 50% take) the upside is enormous and the cash forfeited on dry wells is comparitively negligible.

[jondev] 01/5/2019 13:28

When does ten come back online ?

[sunnybeachboy] 01/5/2019 11:07

Just took a few

[billy_buffin] 30/4/2019 12:38

All snippets from African Intel:

Equatorial Guinea: 'Tullow Oil rescues Trident to buy Zafiro:'
'Never satisfied, Tullow Oil continues its bulimia of new blocks on the continent. The British oil (sic) could even save Trident Energy on the takeover of the giant ExxonMobil field in Equatorial Guinea.'

'Tullow Oil comes to Trident's rescue to buy Zafiro - Africa Intelligence hxxps://www.africaintelligence.com › oil
6 hours ago -
But the group has another, more immediate, goal that it is keeping much quieter about: buy ExxonMobil's 71% stake in the Zafiro oil and gas field.'

Previously: Trident targets Zafiro acquisition | Upstream

13 Dec 2018 - Warburg Pincus-backed Trident Energy is in talks to acquire ExxonMobil's 71% stake in the Zafiro oil and gas field off Equatorial Guinea.

Trident puts affairs in order to take Zafiro for ExxonMobil
hxxps://www.africaintelligence.com › oil
27 Nov 2018 - With backing from shareholder Warburg Pincus, Trident is setting up an operation to buy the American major's shares in the country's largest ..

Nothing concrete though... Zafiro 1997 so getting on

Edit:

[subsurface] 29/4/2019 09:56

venezuela sanctions started yesterday and Iran to fully kick in on May 2nd Ten due to restart also

[mcsean2164] 29/4/2019 09:21

Oil still above $70. We're back at February share price levels but poo is $10 higher. I can't justify the drop....

[sunnybeachboy] 29/4/2019 09:16

Oil going lower.This will test 218 imo

[subsurface] 27/4/2019 05:19

Mcsean2164 Nice award then Tutu Retires,!

[subsurface] 27/4/2019 04:37

from Africa press




Shut down began 22nd April to 2nd May,did they talk about this at the AGM ?

Another factor in the recent decline of the SP

[subsurface] 27/4/2019 04:04

Sadly Uganda and Kenya are high risk in my opinion even when the oil is flowing you will see community problems The Youth and security issues people and pipeline. happy to see the farm downs and for Tullow to stay out of land locked countries glad they decided not to go ahead with Zambia so they are learning.much better offshore and quicker to first Oil
Sad Example



lets hope shell can recover the Employees

[frazboy] 26/4/2019 17:49

The population of Guyana is only 700,000, I think. They're going to be more wealthy than the Norwegians

[mcsean2164] 26/4/2019 17:19

13.3% is a very high figure to vote against management remuneration. Hopefully the share price drop is only the 13.3% exiting. Huge capitulation and poo still strong.

[subsurface] 26/4/2019 16:42

If you feel down listen to Gils Eco videos he is so excited and positive about Guyana



Angus said last year that Guyana is the big one also Total had 120 days to confirm taking up 25% they confirmed within in a few days
The partners are Unanimous on the selected drilling targets Jethro and Joe 44%COS as per Eco.
We also have one find in the bag with the Hammerhead overlap and Exxon say Guyana has the best quality formations they have ever seen,
Possible 15 targets in Orunduik Tullow 60% have a look at Kanuku block 37.5% Tullow slide 32 on the Tullow update Two oil shows reported in the area and several drilling targets.
If all goes well we may see 5 wells drilled this year in total, that has kept me going for the last 6 months. I think share holders have gone through a lot these last few years but this looks to be our best chance of a recovery IMHO,

[subsurface] 26/4/2019 16:41

If you feel down listen to Gils Eco videos he is so excited and positive about Guyana



Angus said last year that Guyana is the big one also Total had 120 days to confirm taking up 25% they confirmed within in a few days
The partners are Unanimous on the selected drilling targets Jethro and Joe 44%COS as per Eco.
We also have one find in the bag with the Hammerhead overlap and Exxon say Guyana has the best quality formations they have ever seen,
Possible 15 targets in Orunduik Tullow 60% have a look at Kanuku block 37.5% Tullow slide 32 on the Tullow update Two oil shows reported in the area and several drilling targets.
If all goes well we may see 5 wells drilled this year in total, that has kept me going for the last 6 months. I think share holders have gone through a lot these last few years but this looks to be our best chance of a recovery IMHO,

[teamwork1] 26/4/2019 15:51

Good new dont we all wish that

[subsurface] 26/4/2019 15:26

Teamwork1 Just tracking the POO it will stay range bound until we get some good news to underpin the sp

[teamwork1] 26/4/2019 15:15

Really disappointed with the share price

[deans] 26/4/2019 13:11

Further to my post above I would add following:

On capex the company by reducing Uganda down to 11% and farming down Kenya to 30% would mean an affordable capex for the next 3 years at around the current levels of expenditure. For example a total for Kenya at say $600m for 3 Years would be $200m per year.

No plans to sell Ten.

Guyana was described as a hot spot and it was said that TLW were in a very good position to have Exxon next door. My post meeting thought/question on this could a unitisation agreement be required eventually?

DYOR.

[subsurface] 26/4/2019 09:22

Topazfrenzy On the Tullow could sink comment
Most of the eggs are now in the Ghana basket thankfully Ghana has been a good place to operate thus far,
Back to risk management ,Ghana has elections in 2020,and a failure in operations could also be a problem Tullow need to be on the Ball,
I will feel much better if we do well in Guyana but that is not without risk there were some rumblings about elections and re negotiating contracts and also Veneuzuela
dispute maritime territory of Guyana

I feel happy that Exxon /America are on the job feel risks may be reduced If Tullow were the first mover then they don,t have the clout. nothing seems easy in the Tullow world these days!But hope for the best.

[billy_buffin] 26/4/2019 09:03

Yes seems no arrangement as yet for water flood agreement.
Read with concern some shallow reservoirs require hot 90 deg C water flood as upper reaches of reservoir temp close to the WAT. As well as wax appearance also have pipeline worries esp heat tracing energy requirements. We all know what are catastrophic results of major failure of shipping pumps etc on p/l integrity.

Thanks for meeting rundown!

[topazfrenzy] 26/4/2019 08:14

Genel is a better option as an oil play, they have introduced a good dividend, to be paid shortly, and they are sloshing in cash with very little debt. The turnaround has been great.

Tullow for me is just a debt ridden beast that could sink at any time when things turn.

[deans] 26/4/2019 07:32

Thank you Bootycall I too attended the AGM and will check my notes to see whether there is anything I can add to your very comprehensive notes of the meeting itself.


I was the one who asked about funding the dividend but of course I was very happy to vote for it anyway!