Tullow Oil Share Discussion Threads

[datait] 09/12/2019 10:35

The share price speaks for itself and if it was over done it would have been well up by now.

Further bad news will send this down hugely.

[datait] 09/12/2019 10:32

market does not like it either.

[whites123] 09/12/2019 10:30

LOL.... "If the outcome is bad then 10p"

The point being, at £1.40 it was priced in as no good... abandon time....
The debt is clearly absolutely 100% an issue, but at $60 is serviceable.
The non operated portfolio is performing well (And increasing)
The exploration portfolio has great targets.
embark on a similar restructure as PMO did and this will stand every chance of becoming the darling it once was.
Unless of course some posters here are right and Ms Thompson has got it all wrong and is lying to us and we need another change of chair...

Hmmmmmmmmmm....... Powergen, Bank Of England, Drax all on her CV..
Think I might just give her a tad more respect than posters alleging Market Maker trap etc... She says "Has in excess of $1 Billion liquidity headroom and no near term debt maturities"
She also says...
""Despite today's announcement, the Board strongly believes that Tullow has good assets and excellent people capable of delivering value for shareholders. We are taking decisive action to restore performance, reduce our cost base and deliver sustainable free cash flow.""

Is she lying??????

[datait] 09/12/2019 10:28

I would never short dont believe in it.

[xxnjr] 09/12/2019 10:28

Todays rns suggests Jethro/Joe looking even less commercial than before.

[stupmy] 09/12/2019 10:25

I did suggest a while back that anyone holding this should have guaranteed stops to cover themselves for out of hours news. It has been a straight gamble since the guyana 'heavy oil' disclosure. The way it was disclosed also gave the impression that management weren't very effecitve in communicating with their share holders. This left a trust issue. It remains a straight gamble as we are still waiting for Carapa news. Interestingly, it's relatively unimportant now to TLW in the short term, but TLW is a wounded animal and any further injuries will have it limping harder

[melmoo] 09/12/2019 10:25

Anyone think DATAIT is shorting this!

[datait] 09/12/2019 10:23

Good luck folks your going to need it.

[datait] 09/12/2019 10:22

If this was over done it would be well up by now ????????????????

[datait] 09/12/2019 10:21

No they cant service the dept and hence why the shorts are in control.

[datait] 09/12/2019 10:20

Wouldn't it be funny if the Heavy oil find was actually commercially viable (We still do not know the outcome of this)

If the outcome is bad then 10p

[amaretto1] 09/12/2019 10:16

Is all about the debt....Can they service it in the future.Imo NO It's too reliant on OP .. it's been here before... massive Rights issue, That's unavailable now,Unless a massive dilution, and wipe out current SH.

[watfordhornet] 09/12/2019 10:14

Agree with this. It would make sense for her to get everything out in open. No point her holding anything back as would come back and bite her

[whites123] 09/12/2019 10:12

"beware of the market makers tactics you stand to lose a fortune here folks."


LOL.......

Its a conspiracy I tell thee... A conspiracy....

Ms Thompson will have done what was needed...
Clear the decks of bad news...

Assets a plenty...
Wouldn't it be funny if the Heavy oil find was actually commercially viable (We still do not know the outcome of this)
If Carapa produced sweet oil find.
If all of this tied in with new CEO...

Now, there is a conspiracy theory for you...
Get as much bad news out as you can..
Announce that there are some good points (But these are overshadowed)
Bring in new team, and hey presto.... a board change completed and a new revitalized company..
Just what everyone has been shouting for.

[datait] 09/12/2019 10:07

This is now a huge gamble

[datait] 09/12/2019 10:04

beware of the market makers tactics you stand to lose a fortune here folks.

[mariopeter] 09/12/2019 10:04

Just horrible. Problem now is debt to equity ratios are shot to pieces so assets will have to go.

Think Total will be relishing this and licking their lips. No better time like the present with the board is utter disarray.

[datait] 09/12/2019 10:04

In auction so the big placers could get out and then push it back down.

[xxnjr] 09/12/2019 10:02

FT FWIW. (now a shadow of its former self. The FT that is)

"Tullow shares plunge 50% as group slashes production outlook
Chief executive of FTSE 250 explorer steps down with immediate effect

2 hours ago
Shares in Tullow Oil tumbled more than 50 per cent on Monday morning after the FTSE 250 explorer was forced to reset its production outlook for the coming years and announced its chief executive and head of exploration had left the company.

Paul McDade and Angus McCoss stepped down from their positions with immediate effect after the company said it expects to produce between 70,000 to 80,000 barrels of oil per day in 2020, with output of 70,000 b/d in the following three years.

This compares to initial expectations of 93,000-101,000 b/d for 2019 at the beginning of this year, although the figure had already been slashed three times to 87,000 b/d. The company also announced it was suspending its dividend.

Former Drax boss Dorothy Thompson, currently non-executive chair at Tullow, has been appointed executive chair of the company on a temporary basis, while it looks for a new permanent chief executive. Mark McFarlane has been appointed chief operating officer.

Tullow shares were 59 per cent lower in early London at 57.96p.

The guidance cut followed a review that Ms Thompson said had been prompted by “concerns̶1; over 2019 production. She said this review led the board to decide that “decisive action needed to be taken”.

A graphic with no description
The review pointed to issues at its Ghanaian fields, Tullow said. At its Jubilee field, it cited “significantly reduced” gas offtake by the Ghana National Gas Company coupled with lower facility uptime. It also said there had been mechanical issues and “faster than anticipated decline” at its Enyenra field.

Ms Thompson said the resignations had been “by mutual agreement”, but added that the company “needs renewed vigour and focus”.

“Despite today’s announcement, the board strongly believes that Tullow has good assets and excellent people capable of delivering value for shareholders,” she said.

Last month, shares in Tullow fell to a two-year low after it warned that two significant discoveries in waters off Guyana contained heavy oil, prompting warnings that the projects would be difficult to commercialise."

We could also do with management changes at the FT!

[phowdo] 09/12/2019 10:01

Looking like AFR Mk2.

[stupmy] 09/12/2019 10:01

Well, it's possible the price will rise into the afternoon from here and I'm struggling not to enter, but I don't have a buy signal so I'll stick to my own rules and wait.

[sbb1x] 09/12/2019 09:59

70p finish..