Tullow Oil Share Discussion Threads

[datait] 13/11/2019 10:20

Relax should see 1.70 plus close.

[thegreatgeraldo] 13/11/2019 10:14

Any techies on here? How is that that they needed a lab to tell them they had heavy sour crude? Wuldn't it be prety obvious from when they colledted the samples?

[onjohn] 13/11/2019 10:09

Crispin ode shorting

think he was talking about it going to 80p and smirking

[xxnjr] 13/11/2019 09:46

mario - on a 5 yr there's support just below current levels, also at about 142P and 100p.

[xxnjr] 13/11/2019 09:36

FT....."Shares in Tullow Oil fell heavily in early trading on Wednesday after the London-listed explorer warned that two significant discoveries in waters off Guyana contained heavy oil, leading to warnings from analysts that the projects would be “difficult to commercialise”.

Tullow Oil shares slumped as much as 23 per cent shortly after the open of markets in London after it announced the results of a recent analysis into the oil quality at the Jethro and Joe discoveries off the coast of the South American country. Oil recovered from both wells were heavy crudes, Tullow said, with a high sulphur content.

Refiners prize light, sweet crudes and the heavy variety tends to trade at a discount.

The discoveries, the first of which was announced in August, had previously provided a significant boost to Tullow’s share price.

The company said on Wednesday that in light of the analysis it was assessing, along with its partners Total and the UK- and Canada-listed Eco Atlantic, “the commercial viability of these discoveries considering the quality of the oil, alongside the high-quality reservoir sands and strong overpressure”.

London-listed shares in Eco Atlantic were down 38 per cent shortly after 8.30am in London.

Analysts at JPMorgan Cazenove said the oil quality “risks the commerciality of both prospects despite excellent reservoir quality”.

Al Stanton, analyst at RBC Capital Markets, said he expected investors to now be “increasingly cautious” on Tullow stock."

[mariopeter] 13/11/2019 09:35

Highly geared and falling turnover. What a terrible RNS. You need to look at the 5 year chart.

[xxnjr] 13/11/2019 09:32

pro..... we've already had about 10 profit warnings!!!!

[stupmy] 13/11/2019 09:27

The market now needs to decide what value to ascribe to these shares. On the one hand, many positions have closed due to stops, that can cascade down and send price below a reaonable level, on the other hand we need to see a sensible volume of buying to move it back up sustainably. What often happens on such 'price discovery' trades is a move up in the afternoon, followed by further drops the day after. For me, the good news here is that, on the weekly chart, the price has already hit support at 159.4. That might be the bottom (at least for today). If 159.4 is not the bottom, then we may see 138 or even somewhere between 113 and 125. The trick now (at least the way I have studied these types of trades) is to wait for an appropriate buy signal on the 15 minute chart. When that comes, I often buy. The problem is that the target for selling is (again, according to my own studies of this type of trade) is a moving target based on a 60 min MA. I normally sell when price hits that target (normally on the day). I also normally sell before end of play as the price usually falls back then next day and price can sink below the low seen following news.
Like everything else that doesn't always work, but it's a framework that helps me to avoid losing money and often makes me money.

[sbb1x] 13/11/2019 09:24

Heading to 175...

[datait] 13/11/2019 09:23

shorts closing

[pro_s2009] 13/11/2019 09:18

Its always worth remembering the old adage that profit warnings come in three's and thats often the way bad news is dripped out bit by bit.......


I note that nobody has as yet said what API the oil is, and how high the sulfur content is.

API can be known during flow test at the well site, yet nobody is talking about it.


I wonder if the next news is going to double down on the bad news, and the results show its really low API crude and/or very high sulfur content.

[nw99] 13/11/2019 09:13

I am buyer around 1.30

[sbb1x] 13/11/2019 09:04

175 by end of the week200 by Christmas

[onjohn] 13/11/2019 09:03

Crispin ode shorting

[onjohn] 13/11/2019 09:02

Falling again



120p may be hit

[sbb1x] 13/11/2019 08:57

So many leverage positions just got killed... time to reload chaps ?

[stoneme] 13/11/2019 08:56

It is not specifically due to a sharp falls, as per usual, it's a personal perspective on risk v reward and general sentiment. For me, looking at the value here, at 160p, whist I still can see this falling a little further, I equally believe we will recover time the 180 - 200p range.We all take our own decisions.

[sbb1x] 13/11/2019 08:55

Rising now... snooze you loose up we go!

[subsurface] 13/11/2019 08:54

Was the Hammerhead discovery heavy oil,? It overlaps into the Orinduik Block
What we need now is a good CPR.

[bookbroker] 13/11/2019 08:51

Why buy because the price looks cheap, debt is very significant, and oil is likely to fall much further, demand from emerging economies is likely to deteriorate, and with the eco lobby going hammer and tong oil as a fossil fuel will likely suffer. Heavy oil not great, costs more to refine, and this company is at the mercy of its agreement with African nations, very temperamental!

[stoneme] 13/11/2019 08:50

I've taken a holding. Looks oversold to me.

[sbb1x] 13/11/2019 08:50

175 by end of the week.

[sbb1x] 13/11/2019 08:50

Buyers all over this now at this level.

[rayrac] 13/11/2019 08:49

Over reaction!