Tullow Oil Share Discussion Threads

[stupmy] 15/11/2019 12:57

I've added. I have stops and I'm not planning to hold past close.

[novicetrade68] 15/11/2019 12:33

very low volume actually this mysterious drop.

[grafter] 15/11/2019 12:30

Broker Forecast - Berenberg issues a broker note on Tullow Oil PLC reaffirming its buy investment rating and cutting its price target to 230p (from 260p).

DYOR -

[whites123] 15/11/2019 12:08

XXNJR,

potentially = Possibly..

They relayed information they had to hand... To suggest as has been suggested by others that the BOD knew this was sulfur rich oil is IMO looking for scapegoats.

They have not said the oil will not be developed.

Once again it really is a case of the market hearing what it wants to hear..

The Bulls wanted to hear confirmed transformational oil

The Bears now want to hear the oil is a non starter.

In Fact the company said it could possibly be transformational, and there is a possibility the oil may not be developed.

[xxnjr] 15/11/2019 12:02

Hi whites123

Words on the Jethro discovery conference call were measured.

Described it as potentially transformational.

Q: Energy in Reservoir + Producibility of Oil?

Multiple oil samples with minimal draw down.
Samples off to lab. All I can say.
Adds something which we believe adds significant value.


Q: Oil? Lisa is 32 API?

Off to lab. No comment.

However Tullow also said

Relatively high level of confidence we have something commercial. (still maybe the case)
We anticipate these bbls should be high value.
++++++++++++++++++++++++++++++++++++++++++++++++++

In the event. Not convinced these are High Value Barrels. That anticipation on the companies part seems to have been misplaced. However said words may have given anyone listening, analysts included, the impression Jethro was any thing but heavy oil. As others have said, Tullow have messed up on the communications front.

[rayrac] 15/11/2019 11:50

Overdone, this ship doesn’t leak so it’s not Carapa news!

[whites123] 15/11/2019 11:29

"Hope they go after those crooks for falsifying the results, exaggerating the potential value."

IMO a nonsensical statement.
The market (Punters, investors, speculators) were so desperate for good news they essentially wrote the news themselves.
The BOD have done nothing wrong at all and contrary have actually shown themselves to run a very very tight ship with clearly no leaks at all, hence no sharp movements in the share price

The fact the oil quality was not to "Your" expected grade does not mean its the BOD's fault.

Own your investing, gambling, speculating decisions and rather than vent your spleen by making accusations show us where the BOD factually mislead anyone?

Tullow will rebound and I believe that is a given, for those that are bailing, then bail if you have good reason, for those bailing because of margin calls, dont gamble, and for those investing with hard cash, then wait for the bounce...

[pro_s2009] 15/11/2019 11:06

The crash of the high sulfur oil market and price is coming....... probably why TLW think their Guyana finds are useless and noncommercial.

Hence the TLW wording of still hoping to find good oil....they know what they have already found in Joe and Jethro is akin to a chocolate fireguard....... zero chance of getting developed due to very high sulfur content.

[stupmy] 15/11/2019 11:01

Price has dropped below the previous low. I guess we're now going to see the 139/140 area I've previously mentioned.

[xxnjr] 15/11/2019 10:44

Peru Z38 will be drilled Q1/20 with Stena Forth

[extrader] 15/11/2019 10:29

Hi xxnjr,

See

Repsol has a fair appetite for heavy oil, 500,000 bbl per month, according to this recent article, they operate Carapa and are partnered there with TLW and TOTAL, ECO's partners on Orinduik.

It's an ill wind, etc...
ATB

[xxnjr] 15/11/2019 10:13

Repsol springs to mind. Their E&P portfolio is a bit of a mess. Have said they need to be more aggressive in portfolio pruning, chopping and entry into better areas.

[billy_buffin] 15/11/2019 10:07

Something we don't know about?

[stupmy] 15/11/2019 10:02

For the moment, sellers are struggling to push it down, but they are pushing it down. I'm watching closely. Not sure if I want to hold anything over the weekend, but I suspect there might be a few pence to be made today. All a question of buying low and selling a little higher.

[dealy] 15/11/2019 09:36

new holder just announced with a 3.2% stake. less shares available for shorts to cover with

[billy_buffin] 15/11/2019 09:16

Usual activity around Carapa-1 rig - GH Challenger and GH Navigator in attendance amongst others. Noted unknown activity from stationary items 13 miles to SW in past few days.



EDIT; Unknown activity. This is the drill ship Noble Don Taylor and escorts in a temporary staging area for Exxon.

[j0sekl] 15/11/2019 09:01

They announced immediately on first oil and the market was too desperate for positive news. They have come out with testing updates in a timely fashion. Satisfied.

Over the long run Tullow's strategy remains risky being E&P, but they are good at identifying those risks sufficiently early on, instead of leading on investors with false hopes like many other companies in this sector.

[subsurface] 15/11/2019 08:50

Hi Stupmy
Interesting that one of the posters was saying during drilling they are checking and testing cuttings and fluids .you would think that they would know if it contained a high level of Sulphur,In one of the early interviews Gil said he would ring in from the ship.so he may of been on site.
Ifeel Tullow have treated the PI like mushrooms They could not even tell us when Carapa was spud we had to dig around to find out.Tullow standing is now an embarrasment,We need a new team and fast.

[whites123] 15/11/2019 08:38

Just joined you guys for 85156 shares.
Expecting a quick bounce to £1.80 region.
All broker notes are genuine and Management are getting overly bad press for their error.
Draw some confidence that they knew not of the sulfur content heavy, and therefore the ship is tight with no insider trading.
Great stock.. Overdone drop, expect rebound.

[badger36] 15/11/2019 08:30

Of course they did not call for a sell. Don't want to risk future commissions by being independent. Brokers are nothing but commission agents