Tullow Oil Share Discussion Threads

[subsurface] 21/5/2019 15:08

Tullows Insurance may be Kenya and Uganda who wants to take them on?

[mccracken227] 21/5/2019 13:57

Rayrac Update due 26 June, manicat I hope we have a lot higher share price before the bidding starts

[manicat] 21/5/2019 13:45

tullow will not remain independent for ever its just a question of when they are taken out

[mccracken227] 21/5/2019 11:27

Seems 230 is real resistance for us

[rayrac] 19/5/2019 22:39

Oh there’ll definitely be a update in the next few weeks. What we really need from it, is good news....it’s a fairly sure thing.

[chinese_takeaway] 18/5/2019 16:22

https://twitter.com/Paul47293202/status/1129724481000366082?s=19

[mcsean2164] 17/5/2019 16:31

Tullow recently announced that it plans to drill two wildcat wells on its Orinduik licence from June 2019 onwards using the Stena Fort drillship.

“The first well will target the Jethro prospect which is a Lower Tertiary target in approximately 1,350 metres of water. The second well will be the Joe prospect, an Upper Tertiary target in water depths of approximately 650 metres,” a statement ahead of the April 25th Annual General Meeting explained. It added that both wells are targeting prospects of 100 to 200 million barrels of oil.

Hopefully a drilling update in the next few weeks. Might help to push up the SP, especially if it is good news!

[billy_buffin] 17/5/2019 15:34

Seems short interest TLW now below 0.5% reporting level.

[subsurface] 17/5/2019 09:25

From Guyana press new and old news.

[chinese_takeaway] 16/5/2019 17:50

https://twitter.com/Paul47293202/status/1128959964775636994?s=19

[sarkasm] 16/5/2019 09:20

KAMPALA Uganda--Uganda has agreed a marginal hike to the tariff it will pay to ship crude through a planned export pipeline, unlocking the latest hurdle for the long awaited development of the East African nation's vast oil fields, the energy and minerals minister said Thursday.

After months of negotiations, Uganda agreed to pay $12.70, up from the original $12.20, for each barrel shipped through the planned 800-mile pipeline to the Indian Ocean port of Tanga in Tanzania, Irene Muloni said.

It's boost for the country's efforts to develop it's vast crude oil fields, estimated to contain as much as 6 billion barrels, whose development has stalled for years due to lack of infrastructure facilities such as an export pipeline or a refinery.

"Government has reached an agreement with joint-venture partners on the tariff and the business model for the project is being reviewed to reflect the new position," Ms. Muloni said.

The joint-venture partners, including French oil giant Total SA (FP.FR), have been pushing for a higher tariff ahead of financial close for the $3.5 billion project, amid renewed fears about future global oil prices. A spokeswoman for Total's unit in Uganda couldn't be reached for immediate comment.

Total, China's CNOOC Ltd. (0883.HK) and the U.K.'s Tullow Oil PLC (TLW.LN) are currently developing the oil fields, and hope to produce as much as 220,000 barrels a day by 2023.

South Africa's Standard Bank and Japan's Sumitomo Mitsui Banking Corp. are helping in raising credit to fund the pipeline project.

Uganda's hosts East Africa's largest undeveloped oil assets and their commercialization could turn this coffee growing nation into a major oil producer in Sub-Saharan Africa. However, Fitch Solutions warns that delayed construction of the pipeline poses significant downside risk to the sector.



Write to Nicholas Bariyo at [e-mail]



(END) Dow Jones Newswires

May 16, 2019 03:41 ET (07:41 GMT)

[subsurface] 15/5/2019 23:42

Some good progress in Uganda

[subsurface] 15/5/2019 23:37

Some progress in Uganda

[rayrac] 15/5/2019 12:13

I don’t fancy Kenya anyway...almost a side issue. It’s South America for me as the main follow up to Ghana.

[subsurface] 15/5/2019 01:46

So even if we overlap by a year but deliver the best deal, then so be it,” Mr Munyes said,

The withdrawal has potential to impact timeline of mobilising funds of capital intensive building of field production equipment and crude export pipeline pushing starting of commercial oil exports to either 2025 or 2026.

about the only positive thing is we could do three shipments a year if we don,t get any security/community issues.

[rayrac] 14/5/2019 14:27

No Alflex, moved north too Hur mostly. But it’s on watch.

[rayrac] 14/5/2019 13:20

Well, blame google. :)

Even better?

[manicat] 14/5/2019 13:14

rayrac its repsol 37.5% tullow 37.5% and total 25% on the kanuku block keep up to date mate

[alfiex] 14/5/2019 12:45

Nice find Rayrac, are you still in trp?

[rayrac] 14/5/2019 12:30

In Guyana, Repsol has a 70% stake in the Kanuku block, covering 5,164 km2 in the Atlantic ocean within the EEZ of Guyana. Tullow holds the remaining 30% interest in the block. In 2019, Repsol plans to drill the first exploration well at the block to determine if hydrocarbons are present.

If it has the same potential as the Exxon blocks, then, what with 60% of Orinduik. Things could be well undervalued here at TLW!

[billy_buffin] 14/5/2019 09:17

Africa Intelligence again:

14/05/2019: Total demands better recoverable costs on Turkana, or else!

French major Total is not over the moon about the terms currently offered by the government. It could even pull out of the project altogether.

[frazboy] 14/5/2019 08:17

Enough eggs in the Ghana basket already, I would have thought

[manicat] 14/5/2019 08:03

with total buying anadarkos african assets will tullow have any pre-emption rights in the TEN & jubilee licence, and chose to exercise those rights. it would be a quick way to increase production and they would know exactly what they were buying