Tullow Oil Share Discussion Threads

[costax1654x] 16/9/2019 10:01

14 m is commercial?

[frontdoor bull] 16/9/2019 09:59

We should be at least £4.50 by now ,lol.

[subsurface] 16/9/2019 09:44

Additional thinner sands above and below the main pay are being evaluated for possible incremental pay.
And we have Rappu below when they decide to drill it.

[mcsean2164] 16/9/2019 09:32

Hmmm.. Hard to gauge the significance of Joe-1. Overall, very disappointing to only be back to April price with talk of multi billion barrel resources and sterling devaluation.

[crossing_the_rubicon] 16/9/2019 08:40

If joe blogski can come up with this!!!

"Prototype Quadrotor with Machine Gun!"


Then it's pretty obvious a state backed/financed bunch of rebels, or the "state" itself, can come up with something far more potent.

Drone tech has advanced rapidly. As has miniaturization of explosives/damage output.

Suspect we will hear far more about drone attacks going forward myself.

[wodahsnoom] 16/9/2019 08:40

If they had been clever they would have delayed the announcement a few days so the dust could settle on the drone attacks - Peers are up 8% on that news alone.

[manicat] 16/9/2019 08:21

2.5 million traded before 8.30 is encouraging tullows assets are looking tasty now

[subsurface] 16/9/2019 07:30

ECO found More? anyway more detail

[subsurface] 16/9/2019 02:14

Working on the lakes expensive and borders DRC not an easy area remember Nagassa

[subsurface] 16/9/2019 01:06

Drones very difficult to Repulse

[subsurface] 16/9/2019 00:18

Uganda,
Morning gents,I feel all agreements such as Tax and legal should be clear prior to Tullow spending any money in any country from the very first day ,looks like the rules are made up as they go along.anyway sit it out let them stew.
With POO and Joe result this week could be great for Tullow, then Carapa next in focus
brent $67 at the moment,

[manicat] 15/9/2019 23:34

oils up 10% i wonder why?

[manicat] 15/9/2019 18:57

xxnjr Uganda has been dragging on for years n years n years oil will not be wanted by the time its ready to come to market

[xxnjr] 15/9/2019 16:07

Some snippets on Uganda impasse.



Total told the Financial Times that the partners could make no further progress until they had “a clear and stable legal framework and clarity on the project shareholders”.

“Consequently, we are obliged to scale down certain technical activities associated with the project, whilst keeping personnel mobilised to agree on [the] overall business framework,” a Total spokesperson said in a written response to questions.

Total and Cnooc had each agreed to acquire an additional 11 per cent in the project from Tullow in 2017 in a $900m deal. That would have allowed the smaller Tullow to reduce the amount it needs to contribute to fund the project but the deal collapsed in August following a disagreement with the Ugandan government over taxes.

Tullow has said it will look for another buyer to reduce its stake from a third to 12 per cent. But this could be difficult, according to Jon Lawrence, an analyst with Wood Mackenzie's sub-Saharan Africa upstream team. “Our view is that other buyers are likely to be dissuaded because a potential buyer knows that this deal is a challenge to close,” Mr Lawrence said.

Uganda and the partners disagree on other legal and tax points too, he said. “There is a fundamental capital gains tax issue on this project but also a raft of other issues [to be resolved] before an investment decision can be made.”

Tullow declined to comment on the decision by Total to scale down activities but said it remained confident Uganda would become an oil producer even though the final project decision had been delayed. Cnooc didn’t respond to request for comment.

Uganda is not alone in east Africa in struggling to realise its oil production ambitions. Kenya, Uganda, Tanzania and Mozambique have all made commercial hydrocarbon discoveries in the past decade and struggled to advance their respective projects quickly.

“If we look historically at the timelines that have been proposed on those projects there has been an over-optimism in the market both about the ease and time needed to develop east Africa’s big discoveries,” said Wood Mackenzie’s Mr Lawrence. “These are not simple developments . . . It’s a big ask for any new oil and gas producer to get all of the necessary elements in place.”

[xxnjr] 15/9/2019 14:40

A few snippets from that FT article.

.....While some officials in the kingdom have sought to reassure oil markets that production will come back quickly, people briefed on the matter say it could take far longer restore output to its maximum level.

“It will take weeks to ramp up and bring the complex to maximum capacity,” said one person close to the energy ministry.

While the full extent of the damage is still being investigated, the person said there was enough concern that the kingdom was in talks with several Opec countries. One option could be to call an emergency meeting of the oil producers’ cartel.

The kingdom, which is the de facto leader of Opec, is in the initial stages of assessing whether it will need to ask other member countries to temporarily raise production to calm markets until Saudi Arabia’s output can fully recover.

The discussions are at an early stage and may not materialise into action, the person said. But given that Saudi Arabia has previously led the group in reducing output to support prices, the talks illustrate the depth of concerns in the kingdom.....

.....Mohammad Javad Zarif, Iran’s foreign minister, said having failed at “max pressure” Mr Pompeo was “turning to “max deceit”

“US & its clients are stuck in Yemen because of illusion that weapon superiority will lead to military victory,” Mr Zarif said on Twitter. “Blaming Iran won’t end disaster.”

Pictures and video posted on social media showed large fires at Khurais, which lies more than 500km from the Yemen border.....

.....“Such a brazen attack by an Iranian proxy on the crown jewel of the Kingdom of Saudi Arabia’s energy system will raise the overall geopolitical risk premium. “Due to its complexity, size, and customised components, repairing Abqaiq could take months, depending on the extent of the damage, though workarounds can offset some of the loss.”

[manicat] 15/9/2019 14:17

lets hope joe and the SA news will give tullow a 50 lift tomorrow

[billy_buffin] 15/9/2019 13:10

FT says...

Saudi Arabia faces weeks without full oil production after attack.
Kingdom in talks to assess whether it should ask fellow Opec countries to help calm markets after attack

Edit: However Major oil companies can move with incredible speed in these situations to restore normality.

[divmad] 15/9/2019 03:17

When you think of all the money the UK spend on defense, you wonder how a few drones can cause so much havoc at Heathrow.

[mcsean2164] 15/9/2019 02:43

Maybe mbs will kill another 40 Houthi children on a schoolbus. Sickening the us is supporting Saudi.

[subsurface] 15/9/2019 00:52

When you think of all the money Saudi have spent on defence over the years .I wonder if these drones operate under the radar?

[xxnjr] 14/9/2019 22:57

What goes around comes around.

It's pretty stunning that a bunch of Houthi Rebels, or Iran if you believe Washington, and a mere 10 drones can force SA to shut in about 5m bbls/day of production. Some of that reduction is 'precautionary' but even so. Will be interesting to see how much production has been disabled and how quickly Aramco can get it back on line. Can't imagine MBS who is something of a hot head will take this lying down.

[subsurface] 14/9/2019 22:23

Interesting to see how they control POO now? It started to look like Trump was softening on Iran, what a difference a day makes,

[ifthecapfits] 14/9/2019 22:00

Monday....