Tullow Oil Share Discussion Threads

[azalea] 06/8/2019 09:56

If we are going to save the planet, by 2030 all forms of road, rail and sea transport will have to be electric or gas powered. A few years ago there were plans to capture and clean the poisonous gases being flared off 24/7 from oil rigs and land based facilities, and sell the gas to consumers. Yet, still thousands of facilities around the world continue to pollute the atmosphere.

[xxnjr] 06/8/2019 00:55

Don't think the regular posters are "playing". It's more that we are a fairly level headed bunch and can see the downside risks arising from the Macro, not to mention some TLW specific issues over recent years.

Having said that - I'll now put my "trash the management" cap back on! LoL! Previously I'd mentioned Jubilee FPSO oil output was being constrained by a bottleneck in gas handling capacity on the floater. Later on someone asked about this (or our CEO mentioned it without being asked) on the last results call, with McDade saying it was fixed, or was no longer an issue, or words to that effect. However just listened to KOSMOS today - there's still a bottleneck! Gas handling now constrained to 160 to 165 mmscfpd. There is a plan to de-bottleneck to 180 to 185 mmscfd. This will be done in Q4. The extra 20 mmscfd of associated gas ought to liberate an extra 10 Kbopd. That will be good as maybe FPSO will then be able to get to 110 to 115 Kbopd. Just a shame McDade glossed over this issue on the last call.....

Bit more colour on EN-14 completion issue. Does not sound like will attempt to re-complete EN-14 this year. In fact probably won't drill more wells on TEN this year. The "timeout" is to re-think the well design for new drills, so won't be drilling anymore until they have an appropriately engineered solution. Bit embarrassing really. Wonder if this was due to cost cutting???

[mccracken227] 05/8/2019 22:46

It would be a brave man to buy more in this current climate, debt not being paid down quick enough problems in Ghana etc etc I am a long term holder here and think there is better value to be had than tullow

[bootycall] 05/8/2019 21:56

Tullow double bottomed at approx 1.66 just before Christmas last year... when the oil price was below $54 . It seems a number of posters are playing on the negative tack. Does anyone appreciate we have had a significant weakening of GBP to the US$ during this time. Allowing for currencies we are already hitting the previous low. Meanwhile people are questioning if US production ( which has been the key to global production growth) might be peaking this year and about to go into decline. Might be time to accumulate if the market was not so weak .

[mccracken227] 05/8/2019 20:35

Oil collapsing 59.82 looks like 1.50 tomorrow, with a duster in Guyana what share price will do is any bodies guess

[hsfinch] 05/8/2019 14:32

Kenya news is irrelevant to share price in short and medium term. Same for Uganda. Guyana is exciting but I'm thinking that bad news is leaking off the rig. Ghana is key but tlw seems to be losing favour in Ghana. Ghanaian big wigs still sitting on huge losses after tlw floated on local market. Turret fiasco. TEN fiasco. Seadrill fiasco. And more. Production from Jubilee needs a boost. It feels like a punt at these levels but could go a lot lower.

[subsurface] 05/8/2019 03:05

Guyana News,

[billy_buffin] 03/8/2019 11:51

Not bad price considering wax.

[subsurface] 03/8/2019 04:45

Kenya gets ready for first Export

[suffersnofools] 02/8/2019 09:38

Bottom of channel on weekly chart is around 173

[duckdown] 02/8/2019 09:37

Buy or wait for well results :-/

[jdung] 02/8/2019 08:19

at 181-182p, buy?

[sbb1x] 01/8/2019 23:41

Buying opportunity thanks to trump

[xxnjr] 01/8/2019 23:32

This will drop tomorrow AM thanks to Trump.

[hsfinch] 01/8/2019 22:10

I was expecting share price to rise this week. No gas in the section above the target is always a worry. Leaky rig?

[badger36] 01/8/2019 18:22

Are they still being paid ?

[sbb1x] 01/8/2019 16:43

Massive ut trade 2.37 million trade 188.60...

[sbb1x] 01/8/2019 14:18

Maybe time to buy

[subsurface] 01/8/2019 09:44

Thanks for posts!

[ifthecapfits] 01/8/2019 08:16

you mean this:

Price target
GBp 110
Current price
GBp 72

More success at Hammerhead
● More success at Hammerhead: Hess, one of the partners in the Stabroek block offshore
Guyana, announced successful results for two appraisal wells on the Hammerhead
discovery, pointing to a potential resource upside. Hammerhead straddles the border and
extends to the Orinduik block, where Tullow Oil and Eco Atlantic hold 60% and 15%
respectively. Hess has not updated its resource estimate for Hammerhead and we expect
more colour from Exxon, the operator of the Stabroek block.
● Hammerhead underpins valuations: Hammerhead could be worth c9% and c46% of Tullow
Oil’s and Eco Atlantic’s respective market caps on a fully unrisked basis, assuming a 500mb
discovery and a 15% extension into the Orinduik block, we estimate. The companies’ valuations
would rise to c13% and c69% of their respective market caps assuming a 750mb discovery.
● More details on the Hammerhead appraisal wells: The original Hammerhead discovery
well was followed by two back-to-back appraisal wells. Hess noted that both wells
encountered high-quality sandstone reservoirs. It also highlighted good connectivity across
all three wells and positive mobility on the drill-stem test on the third well.
● All eyes on Jethro-Lobe: Results for the first exploration well on the Orinduik block, the
260mb Jethro-Lobe prospect, are expected imminently. This a Tertiary prospect, similar to
the Hammerhead discovery, with a geological chance of success of 44% as defined by
Gustavson Associates. The partners are planning three back-to-back wells on Orinduik this
year, with Joe scheduled to be the second well in the programme.
● We rate Eco Atlantic a Buy and Tullow Oil a Hold. We value Eco Atlantic and Tullow Oil
using risked NAV methodologies.

[alfiex] 01/8/2019 08:02

Good post on eco board re hammerhead

[xxnjr] 01/8/2019 07:58

Which would require a well on TLW's side to confirm in pressure communication, and maybe more wells to get the resource sizing. It looks like most of H is in XOM's block. If thats the case another possibility could be XOM simply buy the bit of H that is in TLW's block (if it is).

[robizm] 01/8/2019 07:33

It is called unitisation and will share the resource and costs based on how much of the resource is in each block

[subsurface] 01/8/2019 07:19

Hess say very good connectivity between Hammerhead 1,2 and 3 they are in pressure communication ,
If hammerhead does extend into Orinduik block how will they sort it out? any thoughts?

[xxnjr] 31/7/2019 14:17

Hess Results.....

"Exploration and appraisal activity on the Stabroek Block in the second quarter of 2019 was as follows:
Yellowtail: The Yellowtail-1 well encountered approximately 292 feet of high-quality oil-bearing sandstone reservoir and is located approximately 6 miles northwest of the Tilapia discovery. As the fifth discovery in the greater Turbot area, it underpins another potential major development hub.
Hammerhead: The Hammerhead-2 appraisal well, located approximately 0.9 miles from the Hammerhead-1 discovery well, and the Hammerhead-3 appraisal well, located approximately 1.9 miles from Hammerhead-1, were both successfully drilled and encountered high quality, oil bearing sandstone reservoir. A successful drill stem test was also performed on Hammerhead-3. The appraisal results will be evaluated for potential future development."

Discovered Resource upgraded to 6bn now.

meanwhile the TLW drill bit continues it's journey.

Will Angus be elevated to an elated captains table.
Or will he be walking the plank?