Tullow Oil Share Discussion Threads

[whites123] 09/12/2019 09:59

I do not think there is a person here who is not championing Ms Thompsons involvement.
Her honesty and much needed get the bad news out...
Many have been calling for this for a while, both those that are long and those that are short and those with concerns...

So why are people now suggesting her release is not all there?

There are positives in amongst the news, but totally overshadowed by the diabolical news...

This will not be suspended (Lest she want to find herself unemployable)
This will not go bust (Lest she wants to be accused of falsifying the state of the company)

The Group expects 2019 full year net production to average c.87,000 bopd.
The Group also expects to deliver free cash flow of c.$350 million.
The group has liquidity headroom in excess of $1 billion and no near-term debt maturities.
2020 Group production is forecast to average between 70,000 and 80,000 bopd.
Group production for the following three years is expected to average around 70,000 bopd.
The non-operated portfolio is performing well, and production is expected to be sustained for the medium term.
The audits show increased oil reserves for Jubilee, Ntomme (offset by a c.30% decrease in Enyenra reserves)
The Board believes that a series of actions will help deliver sustainable free cash flow.
"Despite today's announcement, the Board strongly believes that Tullow has good assets and excellent people capable of delivering value for shareholders. (Announced at share price of £1.40)
The drilling of the Carapa-1 well on the Kanuku Block in Guyana continues, with a result expected before the year-end.

Considering the atrocious news we received, there are numerous positives.... Ms Thompson will have failed in her duties if she has not come clean with the severity of the situation....
Are those calling this lower suggesting she is also bent. ?????

Drop has MASSIVELY been overdone in my opinion and I would suggest that Ms Thompson has sought to get all bad news out to start afresh.

[eodfire] 09/12/2019 09:54

Lots of advice from shorters this morning.

[sam_] 09/12/2019 09:54

Anyone dialed the CC? Any good?

[r88ave] 09/12/2019 09:53

You only need to look at the size of debt No brainier where this is going Not enough oil production to manage debt Keep well away for longs

[nw99] 09/12/2019 09:46

Rally starts here

[rumobejo] 09/12/2019 09:45

Today is a liquidation day
50p
40p
30p
etc

[ohdearohdearohdear] 09/12/2019 09:45

Going concern. Share price will continue to drop for the next couple of days at least.

[purple11] 09/12/2019 09:45

this wont get anywhere nr 100 for months.6-12 months atleast.dont rush in to buy imo.
this hasn't changed on a weak oil price-it is a fundamentally changed stock now.

[whites123] 09/12/2019 09:41

"Further fall tomorrow on press comment."

Not a cats in hells chance...
The drop has been so overdone here its in silly territory.

Carapa fail has been built in and an oil price of sub $60 has been built in and then some..

If this had dropped to £1.10 on the news I would have said... OUCH, but yes, a fair markdown... As it is to be almost 50% of that price is absolute bedlam..... I fully expect to see this chuck on gains and settle much nearer to £1.00

[sbb1x] 09/12/2019 09:39

Today is a buying day ? Today is not a selling day...

[montyhedge] 09/12/2019 09:38

Further fall tomorrow on press comment.

[whites123] 09/12/2019 09:37

I glanced through and saw a comment wondering what I was up to..

Do I like this.... Hell No..
But, the portfolio of exploration is still good.
Fields operated by partners are still good.
Forecast for next three years is still good (Albeit guidance is down by circa 10%)

Its an absolute mess... Its a disaster...

I have therefore added another token gesture £60k at .5775 and £20k @ .575 which has bought my average down to a figure which I believe will easily be surpassed.

Dont fret :-)

[subsurface] 09/12/2019 09:35

With you on that frontdoor bull,The management had lost the confidence of the market. In for a difficult but fresh start new management new hope new year!

[sbb1x] 09/12/2019 09:34

Mid 60s coming

[frontdoor bull] 09/12/2019 09:34

Vultures shorts on the Warpath ,lol.

TIME TO BUY.

[sbb1x] 09/12/2019 09:34

Still moving up

[stupmy] 09/12/2019 09:33

that's not true Datait. Trades like this have a usual pattern. That pattern normally gives a bounce and that is normally when the serious money comes bcak from lunch. I don't have a buy signal yet. I use a 15 min chart for that.
I do agree though that will in all likelyhood not prove to be an over reaction over time and I agree that we could very well see lower prices still. From a simple trading perspective, I'm hoping to make money on this today. I either will or I won't, but I won't be holding it overnight.

[cpap man] 09/12/2019 09:32

Ex TLW guys over @ UOG have re-listed on AIM today post the transformational deal

TLW are operators with UOG in the west indies - drilling expected 2020

[frontdoor bull] 09/12/2019 09:30

Vultures shorts on the Warpath ,lol.

TIME TO BUY.

[sbb1x] 09/12/2019 09:30

70p finish?

[purple11] 09/12/2019 09:30

thought 110 60 may be on the card here

[sbb1x] 09/12/2019 09:29

Going up now

[datait] 09/12/2019 09:28

If this was an over reaction it would have zipped up by now the only way is further down now.

[nobilis] 09/12/2019 09:28

debt greater than market cap


Yikes!!!