Tullow Oil Share Discussion Threads

[theapplefreak] 23/12/2019 07:26

Why Friday? We still have today and half day tomorrow ?

[yidarmytom] 23/12/2019 07:20

delay until Friday means the data will be probably be world class. If the data was bad or they would know and announce it. This could be a world class asset.

[subsurface] 22/12/2019 21:52

sorry Assets, I need to get down to Spec savers!

[subsurface] 22/12/2019 21:37

Bootycall with great respect .
Thankyou so much for taking the time to answer my question with full and fair comment.Spot on It was after the wraglings that I started to question everything
Iwas happy to follow Tullow and Heavey as he always said Tullow is for the long term.
They are going to have to pedal harder.
I take heart from two things
The value of the asetts and the fact that the debt is serviced does not have to be paid down today.

Have a great Christmas and a Profitable new year,

[teamwork1] 22/12/2019 19:17

https://mobile.nation.co.ke/business/Tullow-CEO-exit-leaves-Kenya-Uganda-guessing/1950106-5395148-58t864/index.html

[bootycall] 22/12/2019 18:30

Hi Subsurface,

You pose an interesting question. Mr Heavey is one of the most honourable and decent men i have ever met... and since departing the Tullow board has moved on to projects new...with Carlyle backed Boru Energy. He is no doubt caught by a conflict of interest between his allegiances to his old colleagues/shareholders and his current contractual obligations to his new Company. Fortunately for Tullow shareholders I believe he still retains a significant personal stake in Tullow and will probably feel both a personal responsibility and a economic self interest in ensuring that the Company undertakes a course of action which preserves shareholder value. I view Mr Heavey as a friend of Tullow but i would guess that the non executives will have to tread carefully, they have removed a management team he has personally chosen and had the utmost regard for . That being said , i would guess that he is also a realist and appreciates that the Company is now very much in play....he is one of the best placed, like Sam Dossou, to ensure that the private equity players, or the likes of Total, do not steal the assets from under the noses of Tullow shareholders. Many posters on this site seem oblivious to the fact the reserves of Jubilee have recently been upgraded and are clueless about how an RBL works. The analysts meanwhile have slashed their probable and possible reserve numbers and started using 15% discount rates ...despite the fact that Tullow has easy tie ins next door in the Ivory Coast and infill wells in its existing licence. No one even wants to consider properly the recent HUGE discovery by Springfield ( in acreage relinquished by Tullow several years )which i would speculate is also there to be drilled as deeper targets on our own licence block, once the Government gives approval. There is tremendous value in Tullow...when they eventually drill the deeper plays in Guyana, i have no doubt people will rue the day they gave up on this Company. I do feel many intelligent posters like xxnjr have some valid criticisms to make...and Tullow was particularly sloppy in its legal wranglings with Kosmos but the whole industry has had to painfully readjust to a new modus operandi, post US shale production.

Please do not rely on any opinion or the accuracy of any material facts expressed in the above post, when making an investment decision.

[master rsi] 22/12/2019 17:01

                  MERRY CHRISTMAS

       Faith makes all things possible,
       Hope makes all things work,
       Love makes all things beautiful,
       May you have all the three for this Christmas.

[stockport loser] 22/12/2019 15:29

It wasn't funny the first time you bell end.

[subsurface] 22/12/2019 15:22

Hi Booytcall.

We have Mr Samuel Dossou-Aworet and talk of Heavey around,Whats your take on that?
could it be that they are a safety net to ensure fair value of Tullows assets if needed.they both seemed to have Africas interests at Heart.
On the other hand could they just use the opportunity to strip the remaining meat from the bone.
The gas situation in Ghana is a man made problem so long as they have not damaged the reserviors by injecting too much gas a soluttion can be found.
I want them to recover I think they have set lower targets to remove pressure on the
company so they can show an improvement going forward
we need better communications from the company.

[yidarmytom] 22/12/2019 14:41

2020 will be a great year

[bootycall] 22/12/2019 14:29

The more news emerges, the more it is starting to appear that it is the Ghanaians, not the Tullow management which has been responsible for most of the production shortfall. Obviously, Tullow were working behind the scenes to rectify the situation but embarrassing the authorities publicly for their alleged incompetence would have been a risky strategy. Tullow has acted responsibly by reigning back in production to protect damaging the reservoir. It now looks as though the Government of Ghana intend to make good their gas offtake obligations and have appointed a committee to finally deal with it. If Ghana fail to boost production from Ten and Jubilee they will be the biggest losers ... so I expect a remedial work programme to be approved over the next few months, returning Tullow to previous levels of forecast production . It is my understanding that Tullows partners in the block do not share Ms Thompson’s lower estimates for the fields ... expect a marked recovery in the share price of/when confidence in production is restored . The exploration director was probably ill advised to drill a lateral in an Enrenya channel sand ... let’s stick to verticals, especially if water cut is an issue ! Any private equity buyer sliding there rule over the Company will feel confident of taking out a good $300m in central cost purely by focusing just on existing projects . Assuming a dry well in Carapa and a $60 oil price a take out north of £2 might work whilst the Company is rudderless This assumes a minimum NPV value of $1.2bn on Uganda . What a mess !

[subsurface] 21/12/2019 21:10

Ghana africa press report on Gas projects

The former Ghana National Petroleum Corporation (GNPC), Alex Mould, has said the government has caused the nation to lose about $720 million by diverting funds earmarked for completion of two major pipeline projects – WAPCO reverse flow and the Karpower Aboadze-Sekondi pipeline connectivity.

[turvart] 21/12/2019 18:21

Hey Master RSI,

You put your cfd's in
Your cfd's out
In out, in out,
You shake it all about
You post up the trendlines
And you turn around
That's what it's all about
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Knees bend, arms stretch
Rah-rah-rah.

[turvart] 21/12/2019 17:41

You put your cfd's in
Your cfd's out
In out, in out,
You shake it all about
You post up the trendlines
And you turn around
That's what it's all about
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Knees bend, arms stretch
Rah-rah-rah.

[turvart] 21/12/2019 17:22

LOL, in out in out and shake it all about hahaha.

[whites123] 21/12/2019 17:18

Master RSI21 Dec '19 - 16:55 - 38334 of 38334
M&G reduces to below 5% ( could be 4.99% to 0% ) from 5.86%



This is exactly what I keep saying Self proclaimed Master MRI.... You need to research as opposed to reading headline forum titles..



You doubtless read a poster saying M&G have reduced..
But what you failed to do is check the holding notifications and establish how many had actually been sold.. (Over the reporting period 11 - 13th)
Your posts are a complete embarrassment and I wonder sometimes how you are your ilk are actually allowed to control your own money.
You would be well rewarded to STFU, and actually read some books on how the market works, how a market is built and the different trading platforms available.
If you ever plan on investing (Which I doubt as it appears you are a gambler through and through) then consider researching the company as well.
I kind of feel .... Not sorry, but wonderment... 15 years ago I started on these markets with a total portfolio of £1,200... By "INVESTING" I now command a portfolio of medium to high 6 figures... I do sometimes wonder how I would have gotten on by adopting your method... Probably not as well in monetary value, but certainly an expert in the Hokey Kokey.

[master rsi] 21/12/2019 16:55

whites123

re - The Monday we dropped like a brick was due (Exactly as I said) to PI's not understanding the announcement

You are certainly a laughing stock

Large Intitutions reducing that Monday
M&G reduces to below 5% ( could be 4.99% to 0% ) from 5.86%
Standard Life reduces to 3.63% from 7.09%

[subsurface] 21/12/2019 13:02

ENI could win both ways lower gas production and take some Tullows gas for a fee and also keep gas in the ground for later extending the life of the project

.OCTP is the only deep offshore non-associated gas development in Sub-Saharan Africa entirely destined to domestic consumption and it will guarantee at least 15 years of stable, reliable, affordable gas supplies to Ghana.

[wodahsnoom] 21/12/2019 12:40

Remember the angle here is that many Ghanains have lost substantial sums investing in Tullow on the local exchange and part of the reason has been there own government not taking gas for free from Tlw and at the same time paying for it or being forced to take it from ENI.

[xxnjr] 21/12/2019 12:08

One solution would be for ENI to cease gas exports. TLW pay them $7/mcf (or whatever the rate is on ENI's take or pay) and then TLW can sell their gas to GNPC/GC at zero cost!!! Absolutely crazy. Yes. But this is the only outcome at face value from the respective contracts currently in place. [Written as a light hearted comment]

[billy_buffin] 21/12/2019 11:56

Govt. Permission to flare for a period would help matters at Ghana.

If they can't take/use the treated associated gas export the production problem will remain. How Tullow has dealt with this matter and others (e.g. Turret) over time is scandalous. No charge for any exported gas too...

(...outraged of Tunbridge Wells)

I see XOM just given permission by Guyana to flare at 'Liza Destiny' until February!

[turvart] 21/12/2019 11:54

Whites123,

You really make me laugh when you go on about "The in out and shake it all about brigade" My wife keeps saying what you laughing at LOL.

[whites123] 21/12/2019 11:45

I quite like the fact that there has been no news of yet..
And a more recent decline in the share price

Thats crazy I hear many shout..

Ahhh, but its not... The Monday we dropped like a brick was due (Exactly as I said) to PI's not understanding the announcement in full and trading by setting stop losses all the way down to 40p.

1 institutional announcement of a sell off, however more announcements of accumulation.

Lately the share price has become a little more steady.. (Still volatile but easing).

The shares have been transferred from the In out In out shake it all about group (Like your strumpys, your Master MRI etc and the rest of those who think holding shares for a day makes them a long term investor).

The shares are finding there way into the hands of solid investors, and people who actually understand what is going on rather than those who think a line drawn going up means its a buy signal as opposed to a line going down meaning run for the hills sell sell sell.

Samuel Dossou-Aworet has stepped up to the mark and taken > 60 Million shares out of the hands of these wannabe experts (Day traders).
Now, we have many experts here (Self proclaimed) who state that the share price should be 80p, that the share price will retrace once it hits 70p etc etc... But through it all, if I were a gambling man (Which Im not) I would be following the lead of Samuel rather than listening to MRI and Strumpy etc.

The fewer free shares available for the in out brigade the better for us long term holders as higher premiums have to be paid when stock is less freely available.
(Plus it provides opportunity further to average down... Certainly for someone like me who doesnt have a bottomless pit of money, I was able to cash in share options Friday afternoon from my annual award, which means Monday I can further add to my TLW holding)..