Tullow Oil Share Discussion Threads

[leoneobull] 18/12/2019 06:26

Tullow Oil announces $350m CAPEX for 2020

Quite a good interview.

[leoneobull] 18/12/2019 06:17

David Sheppard in London and Nathalie Thomas in Edinburgh YESTERDAY

Tullow Oil’s new largest shareholder said he wanted the energy explorer to become a Pan-African champion and believed it could recover from its near 75 per cent share price collapse last week.

Samuel Dossou-Aworet, a Benin-born energy executive in his 70s, increased his stake in Tullow to 7 per cent, buying additional shares in the beleaguered oil and gas company days after its share price crash was triggered by a cut to its production outlook and the removal of its chief executive and head of exploration.

Mr Dossou-Aworet told the Financial Times his aim was to advise the company rather than dictate how it should shape its future as the board searches for new leadership. He said he had no immediate plans to further increase his stake in Tullow.

Tullow bought Mr Dossou-Aworet’s previous company 15 years ago and he was already a top 15 shareholder through Petrolin Trading, in which he held a controlling interest. He was also among a group of investors in Tullow whose shareholding was listed as “African Investors”.

“This is my baby,” Mr Dossou-Aworet said from his office in Geneva on Tuesday. “Even if it is not a first class company today I believe it can be. It is about people. A company is about people and assets. And I am confident in the assets.”

The large share price drop has dramatically reordered Tullow’s largest shareholders in the past week. Mr Dossou-Aworet has leapfrogged hedge fund RWC Partners, who briefly held the top spot after Standard Life Aberdeen and M&G Investment Management sold down part of their holdings, according to data from S&P Global Market Intelligence.

Tullow said Mr Dossou-Aworet had been an investor in the company for many years, dating back to its $500m acquisition in 2004 of Energy Africa, which had assets in countries including Uganda.

Mr Dossou-Aworet said it was a long-term investment and that he could have made far more by selling his original shares in Tullow when they traded at almost £14 a share in 2012, valuing the company at more than £14bn. On Tuesday the shares closed up at 63.42p, giving it a market capitalisation of £895m.

“This company for me is a big symbol. We should do what we have to do to make things work properly,” the investor said.

[pro_s2009] 18/12/2019 02:44

Drilling continues and results expected before year end, will it be a super Christmas present, or an ultra bad news dump into the holiday closed period ?



.

[shipvan] 18/12/2019 02:35

Would not be surprised if Boru Energy appear on the scene.

hxxp://www.boruenergy.com

[sbb1x] 18/12/2019 00:18

70p target by end of week150 in 2020

[subsurface] 18/12/2019 00:05

Could have a new friend here time will tell?

Awards & Recognitions
Distinctions received by Mr. Samuel Dossou-Aworet include:

French honors
Legion of Honour
Legion Honneur Officier ribbon.svg Officer of the Legion of Honor (France)
Legion Honneur Chevalier ribbon.svg Chevalier of the Legion of Honor (France)
Gabonese honors
• GAB Order of the Equatorial Star - Grand Officer BAR.png Grand Officer in the order of Merit of Gabon.

• GAB Order of the Equatorial Star - Commander BAR.png Commander of the Equatorial Star of Gabon.

• GAB Order of the Equatorial Star - Knight BAR.png Medal of Honor of the Gabonese National Gendarmerie.

Oil and gas honors
• Distinguished Contribution to the African Oil Industry Awards [16][17] (South Africa)

Other honors
Lifetime Achievement Award in the Africa Economy Builders Awards Forum (Ivory Coast)

First laureate of the African Builders Award (Canada)

Samuel Dossou-Aworet plays a major role in the oil and gas sector in Africa. He strongly believes in a panafricain vision [3] to develop Africa with both indigenous and international players.


Hope Tullow Listen!

[master rsi] 17/12/2019 23:54

Moving side ways for the last couple days

[newswseller] 17/12/2019 23:11

Too much excitement on here now.. always a bad sign

[sharekitchen1974] 17/12/2019 22:27

Personally I think this has all the hallmarks of a takeover looming, seen it many times before, its almost articulated, lets face it an offer of 150p would probably be a welcome offer now, but go back 2 weeks before they trounced the stock no shareholders would have even considered it

[pally12] 17/12/2019 21:45

This is coming from a man who knows nothing about the oil industry unlike moodys lol

[alistair4444] 17/12/2019 21:07

The Financial Times

Tuesday 17th December 2019 - 2 Hours Ago

Tullow Oil investor raises stake on hopes of recovery

Samuel Dossou-Aworet aims to advise energy explorer after becoming the largest shareholder

By David Sheppard in London and Nathalie Thomas in Edinburgh.


Tullow Oil’s new largest shareholder said he wanted the energy explorer to become a Pan-African champion and believed it could recover from its near 75 per cent share price collapse last week.

Samuel Dossou-Aworet, a Benin-born energy executive in his 70s, increased his stake in Tullow to 7 per cent, buying additional shares in the beleaguered oil and gas company days after its share price crash was triggered by a cut to its production outlook and the removal of its chief executive and head of exploration.

Mr Dossou-Aworet told the Financial Times his aim was to advise the company rather than dictate how it should shape its future as the board searches for new leadership. He said he had no immediate plans to further increase his stake in Tullow.

Tullow bought Mr Dossou-Aworet’s previous company 15 years ago and he was already a top 15 shareholder through Petrolin Trading, in which he held a controlling interest. He was also among a group of investors in Tullow whose shareholding was listed as “African Investors”.

“This is my baby,” Mr Dossou-Aworet said from his office in Geneva on Tuesday. “Even if it is not a first class company today I believe it can be. It is about people. A company is about people and assets. And I am confident in the assets.”

The large share price drop has dramatically reordered Tullow’s largest shareholders in the past week. Mr Dossou-Aworet has leapfrogged hedge fund RWC Partners, who briefly held the top spot after Standard Life Aberdeen and M&G Investment Management sold down part of their holdings, according to data from S&P Global Market Intelligence.

Tullow said Mr Dossou-Aworet had been an investor in the company for many years, dating back to its $500m acquisition in 2004 of Energy Africa, which had assets in countries including Uganda.

Mr Dossou-Aworet said it was a long-term investment and that he could have made far more by selling his original shares in Tullow when they traded at almost £14 a share in 2012, valuing the company at more than £14bn. On Tuesday the shares closed up at 63.42p, giving it a market capitalisation of £895m.

“This company for me is a big symbol. We should do what we have to do to make things work properly,” the investor said.

[sharekitchen1974] 17/12/2019 20:49

To be fair I think the downgrade by moodys was pretty obvious hence the huge fall already.Tullow definitely need to sell some assets and pay down their debt in the new year if they want to turn the company around, which i am pretty certain they will.

[pally12] 17/12/2019 20:42

If they said well had high sulphur why are they continuing with the well any thoughts

[technowiz] 17/12/2019 19:59

looks quite a detailed report to me with good reasons and rationale.

[teamwork1] 17/12/2019 19:56

the same Moodys that incurred an $864m penalty for dodgy ratings in the run-up to the 2008 financial crisis.....

[kulvinder] 17/12/2019 19:54

I thought that moody downgrade was some days ago? I seem to remember reading it somewhere, unless I am mistaken...

[leoneobull] 17/12/2019 19:52

Expected. They will sell Uganda IMOV

[technowiz] 17/12/2019 19:42

some bad news after close - Moody's downgrade

Rating Action: Moody's downgrades Tullow's rating to B2, changes the outlook to negative.
hxxps://www.moodys.com/research/Moodys-downgrades-Tullows-rating-to-B2-changes-the-outlook-to--PR_414593
need to register to read it.

Moody's projects that Moody's-adjusted total debt to EBITDA would rise to between 3.5x and 4.0x at year-end 2020.

[leoneobull] 17/12/2019 19:31

The delayed after hours trades tell a story about continuity positioning. Click trades

[old fat prop1] 17/12/2019 19:16

Nice surprise here looking at the closing price...

Limit set at 78

Maybe next week.

[aja2] 17/12/2019 18:26

Tullow Ghana boss Awotwi:

[ny boy] 17/12/2019 18:21

No brainer leoneobull!
This one is going vertical soon imo