Tullow Oil Share Discussion Threads

[bootycall] 13/8/2019 08:58

Who would have thought you could have bought Tullow shares at £2.10 per share after a confirmed commercial discovery on the first well in Guyana. This market is nuts. On a risk reserved basis just on the tertiary prospect inventory plus most likely P50 on Jethro and Hammerhead ... we should have provisionally pencilled in north of $1bn minimum of value with potentially billions more of the other plays come in. That is my opinion, rightly or wrongly. Just topped up again !

[subsurface] 13/8/2019 00:57

From Malcys blog

just think what might happen if the Cretaceous can be proved up? This field could be 20km² and with 55m of pay could be huge, those pre-drill estimates of 100m or even 200m might end up being conservative.



Gil said don.t worry if you did not get in this time there will be other opportunities.

[mcsean2164] 12/8/2019 20:17

Great news, hopefully a significant recovery in share price to follow.

[zingaro] 12/8/2019 18:21

As I see it, the discovery should lead to a significant de-risking of Tullow's debt, with its stake in the Orinduik licence being both valuable and highly sellable to a number of parties (Esso, Total etc). When will it sell down its 60% stake to a more normal 30% is of great interest (its twice the size of the ECO stake), and gives itsignificant flexibility managing the debt.

[frontdoor bull] 12/8/2019 17:01

Very positive, no sell off at the finish, expect another nice rise tomorrow if the poo holds up.

[subsurface] 12/8/2019 15:35

November 13th is the next trading update,we should have Joe and Carapa completed by then so 2020 should be a very interesting year.
Some good comments about the seismic quality bodes well for the future.
I think drilling cost rates will be low given the poo just hope we have the cash to keep up.

[cricklewood] 12/8/2019 15:25

A return to $70 a barrel would see it at more than £4 imho.

[frontdoor bull] 12/8/2019 15:19

A divi would be nice, to cover some of our losses.

[xxnjr] 12/8/2019 14:54

It's a while since T6 was built. Glad I'm not the one responsible for delivering T7 'On Time, On Budget'.

[subsurface] 12/8/2019 14:04

The first 10 minutes is Gil/Eco

[fraserdean] 12/8/2019 14:01

Total also have T7 at NLNG to spend on but they do like to operate the deepwater stuff unless one of the other bigs boys is doing it. Not sure they'd see Tullow as their preferred operator. They also said they were keen on the Ghana crude for their trading arm the other day.
Not sure re the debt but they'd ceratinly believe they could do a better job on capex in Guayan and opex in Ghana.

[bootycall] 12/8/2019 13:47

Just listened to this podcast...interestingly Gil from ECO is saying in very bad English (so i might have interpreted this wrong) that the well didn’t even go properly through the thickest section, but still produced a net pay only 2 feet less than Hammerhead at 181 ft. If that is the case much more to come. The Tullow call did reference a number of intersecting lobes ? ...this could be bigger still. Bring me a bigger cigar !

[manicat] 12/8/2019 12:07

some of the big oilers must be looking at tullow now the market cap of tullow is chicken feed for them and todays news makes them even more attractive

[xxnjr] 12/8/2019 11:40

Any reason given for why Angus not on the call?
[i missed the intro]

Stuck in traffic?
A queue at the till in Godiva?
Signing a farm down for something/somewhere?

Could just be Angus wanted to pass the mantle to Ian Cloke.
Having been in the hot seat all these years.

[bootycall] 12/8/2019 11:11

xxnjr....also let’s wait and see whether there are deeper targets in this location...maybe Gil will add further colour :) Watch this space !
I like your humour with regard to Qatar :)

[frontdoor bull] 12/8/2019 10:53

Fill da boots

[xxnjr] 12/8/2019 10:40

Sounds good Bootycall well done! Are those the 4 between Ham & Jethro

Maku
Peregrin
Kumaka
Jethro Lobe

Could see those coming in, as in same setting as and bookended by Ham/Jethro.

[xxnjr] 12/8/2019 10:36

Presume Total would like to build a couple more LNG trains in Qatar?

Would Total want TLW's debt?
Be good if Total took say 29% of TEN, 10% of Jubilee and Operator role?

[bootycall] 12/8/2019 10:35

Now now xxnjr this analysis was the opinion of ECO pre drill :)

hxxps://www.ecooilandgas.com/tullows-guyana-wildcat-to-target-ten-like-complex/

I am optimistic that the structure is larger than they imagined . If the OWC is indeed lower we may have a multitude of opportunities not yet taken into consideration properly in the CPR to remap. We could have a resource the size of Jubilee proven up with only 4 successful wells in Tertiary targets.... but we have to drill them first !!!

[mariopeter] 12/8/2019 10:32

Well done to all here. A small find to kick things off. Much more to follow.

[subsurface] 12/8/2019 10:30

Spot on oil retire been through the mill!this is only the start lots to look forward to.
Any idea why they only talk of drilling Joe ,and not going on to Rappu/Tuktuk?

[fraserdean] 12/8/2019 10:27

I Total has any money left after buying the Anadarko bits they must be having a look now, partners in Ghana, Guyana and Uganda, they are always very keen to operate rather than have a minority interest.

[argylerich] 12/8/2019 10:25

Cricklewood, fortunately not ;-)