Tullow Oil Share Discussion Threads

[xxnjr] 29/7/2019 11:10

Not forgetting money from North Field ultimately built The Shard.
And numerous large scale residential/office developments in London!

[bootycall] 29/7/2019 10:59

Stolen link from ECO site. Gives less credence to my conspiracy theories.. but I still smell somethings up !

[xxnjr] 29/7/2019 10:53

Good point bootycall! Just wish TLW would actually farm down something to reduce the debt!

[xxnjr] 29/7/2019 10:39

Qatar has the worlds largest offshore gas field North Field, also called South Pars shared with Iran. Exxon/QP have jointly built a number a large LNG trains in Q.
The partnership has grown from there.
QP bought into Exxon Mozambique LNG.
QP bought into Golden Pass LNG.
And maybe more. DYOR.

[subsurface] 29/7/2019 10:38

Morning /Afternoon to you xx I sent you an e mail.

Only negatives I have read about are the political situation and the Venezuela spat.

Total were very quick to take up the position from ECO I think if ECO had waited a little longer they could of got a better price due to Exxon discoveries near the block
so Total did well. and this farm down to QGPC may be a good deal too.

[bootycall] 29/7/2019 10:32

Ok , if your right about Exxon and Quatar’s relationship.. I would not be surprised if Tullows interests were about to be sliced and diced .. that would make sense..

[bootycall] 29/7/2019 10:30

Something doesn’t add up xxnjr. Firstly there would be pre emption entitlements between all signatories.No price has been given as far as I can see . Surely Total would not be interested in selling such a piddly interest in a small licence obligation unless it was part of a strategic link up ? Note Quatar bought into their offshore blocks in Kenya last week ? Lastly ECO appoints a strategic advisor last week ? Starting to sound like they might be helping to act as a potential funder for a Corporate transaction?.. or maybe my imagination is getting the better of me ! I am totally baffled.. Total is so huge it’s not as though they need any assistance.

[xxnjr] 29/7/2019 10:08

morning ss/bootycall/ifcap,

Well Total seem to be loosing interest (literally) in Guyana!
Not what one would have expected given 3 wells program.

QP and Exxon often work together, but in this instance will be looking for each others flares from their respective locations!

[subsurface] 29/7/2019 09:52

I wonder if Total are worried at having Tullow as the Operator on Orinduik

[bootycall] 29/7/2019 09:49

hxxps://www.energy-pedia.com/news/guyana/qatar-petroleum-acquires-interest-in-offshore-guyana-exploration-blocks-from-total-177246

Can anyone make any sense of this ?

[ifthecapfits] 29/7/2019 09:19

From the ECO thread.

(+) ECO ATLANTIC: TOTAL signs pact with QATAR PETROLEUM for exploration offshore Guyana
- QATAR PET to acquire 40% of TOTAL’s stakes in the Orinduik + Kanuku blocks in Guyana
o New partnerships:
 Orinduik: TULLOW 60%, ECO 15%, TOTAL 15%, QATAR PET 10%
 Kanuku: TULLOW 37.5%, REPSOL 37.5%, TOTAL 15%, QATAR PET 10%
- +ve ReadX for ECO ATLANTIC given TOTAL is a partner in the Orinduik block, where ECO is currently drilling the Jethro Lobe prospect (results ~mid August)
- (Bloomberg)

[billy_buffin] 29/7/2019 08:29

Jimarilo -Interesting find and curious

It appears that the survey area will be just a mile or so south of Stena Forth current position. The 'Kacey' is a rig service vessel and could act as a guard boat for a survey vessel. Kacey is currently anchored up off Trinidad.

Edit not sure of this but satellite positions do vary a lot: The Stena Forth is assumed drilling ahead as it has not moved as yet from it's original spud position.

[jimarilo] 28/7/2019 10:40

Extension to operations, also Eco have just taken on acquisition advisors last week

[bootycall] 28/7/2019 09:40

ECO Eco Atlantic was up 3% on Friday.. which is a much closer proxy for the Guyana well. Even though they hold only 15% of the license they have a much larger price sensitivity to the first well. Go figure... it is unlikely the drilling gets interest until Sun-Tuesday in any case.

[hsfinch] 28/7/2019 07:31

Price dropping ahead of Guyana well result...very strange. Leaky rig or great buying opportunity for traders?

[chinese_takeaway] 27/7/2019 17:31

https://twitter.com/Paul47293202/status/1155028245408112640?s=19

[alfiex] 26/7/2019 17:26

Bootycall, this seems very similar to PMO (not holding but watching) TLW looks to be worth a lot more but for some reason underperforming in the market, 10% down on year to year and now paying dividends etc etc

[bootycall] 26/7/2019 17:14

Back of the envelope stuff. Tullow has lost 15kbpd times 47.15% interest in Ten from the Enyera 14 well. They had a similar palava on the Enyera 10 well earlier in the well and it got sorted. Assuming they still are entitled to generous cost recovery on Ten that probably DELAYS cash flow by $70m or $30m of net profitability based on a $12 netback because the fpso is leased (netback are higher in Jubille).I am assuming that it takes about 10 months to
replace production which should be more than conservative. Today a further £100+m was taken off the market cap because the management decided to reset expectations more than necessary to give themselves breathing room . That was a little indulgent and they will only have themselves to blame if a potential take out is at a smaller premium and their share options pay out peanuts. In the meantime the Company continues with hundreds of millions of discretionary capex which would otherwise produce cash flow up in excess of $600-$800m... EVEN before Uganda, Kenya and Guyana come into play. This is completely oversold on fundamentals with sentiment and downward forecast revision playing nonsense with the share price. There is too much cash flow being produced from these assets for this to continue ... mark my words !

[alfiex] 26/7/2019 16:08

The guys running the show are still earning big money despite the current performance. Maybe Guyana drilling not going too good.

[badger36] 26/7/2019 15:59

The guys running the show must be proud. 15 bucks at one stage and it can't hold two. CNOC would pay what now. 50% upside of average over last six months say 2.60 and they can have it

[xxnjr] 26/7/2019 14:16

Very true!

[bootycall] 26/7/2019 13:32

Try explaining to a child that a VW Golf has the same carbon footprint as a Tesla. Then explain that getting rid of the VW to buy a Tesla causes even more damage. Then tell the people of Kenya that they should live in abject poverty because of virtue signalling from the Hampstead Lido mob . The truth is shale is 100 times worse for the environment. Check out the current gas flaring being permitted by the Texas Railroad Commission. I think we should have a grown up discussion about the environment. If needs be make the Amazon or Papa New Guinea rainforests World Heritage Sites. The G7 pays compensation to the respective Governments and the improvement in forecast emission would be immediate and long lasting. This world should concentrate on desalination projects which would improve the dust bowls of the world . So many ways to think outside the box .

[xxnjr] 26/7/2019 13:23

The natives are rebelling in Uganda.
The natives are rebelling in Kenya.
Now even the natives of Hampstead are rebelling.
There's no hope! ;-)