Tullow Oil Share Discussion Threads

[sbb1x] 19/1/2020 17:52

Dont be silly. You will find over at mtro

[teamwork1] 19/1/2020 17:19

Has SR LEFT US LOL

[the grumpy old men] 19/1/2020 09:45

Leoneobull
19 Jan '20 - 07:46 - 40539 of 40540
0 0 0
Orinduik not far away



EXTRACT


Luckily most of Suriname’s offshore blocks are apportioned – ExxonMobil, Kosmos, Petronas, Tullow and Statoil have all taken up operatorships. An Exxon-led consortium comprising also Statoil and Hess Energy has won Block 59, the license area abutting Guyana Caieteur block. But perhaps even more interestingly in terms of future potential discoveries, Kosmos Energy might see its market posture improve with Block 42, located right across the Canje block and still relatively close to Guyana’s Turbot/Longtail future production hub. It has to be noted that Suriname’s shallow water license areas (preliminarily labelled blocks A, B, C and D) are still unallotted and given that all wells drilled heretofore in a radius of some 150km from the coastline turned out to be dry, they will remain under Staatsolie for quite some time presumably.

What does it mean for Staatsolie?

Before the Apache-Total tandem announced their Maka discovery, the national oil company Staatsolie has made public its intent to substantially expand its presence on the bond market in 2020 and also (if conditions would allow) to list its shares either on the London or the New York stock market. This would serve the purpose of raising some 1-2 billion to fund the Surinamese NOC’s exploration drive for the upcoming years, with the company combining the double role of state oil company and oil regulator. The Maka discovery will make it easier for Staatsolie to do so as it alleviates concerns that the oil bounty in the Cretaceous plays of offshore Guyana does indeed extend into Suriname.
Related: U.S. Drillers Rush To Hedge Production As Oil Prices Soar

The Surinamese NOC will most probably need a substantial amount of money because if early indications are not misleading enough, Staatsolie will to try to avail itself of its back-in rights, effectively allowing it to buy into proven commercial discoveries (10 or 20 percent was mooted) without taking part in the exploration process. Given that Staatsolie currently operates the entirety of Suriname’s upstream sector – namely two onshore fields called Calcutta and Tambaredjo with a total output of 17kbpd – the NOC will be one of hottest chips on the stock market if it manages to use back-in options wisely so as not to antagonize oil majors who bring the know-how to the country’s offshore plays.

What does it mean for the drillers?

Apache Corp’s jumped 27 percent on the Maka discovery within one day – perhaps the optimistic reaction was also boosted by the speed with which ExxonMobil managed to launch Liza (roughly 5 years from discovery to commissioning), certainly an example to emulate. In accordance with the shareholder’s drilling schedule, Apache and Total proceeded this mid-January to the spudding of another exploration well, named Sapakara West-1 and located 20 kilometers to the southeast of Maka. Sapakara will also shed some more light on the quality to be expected in Suriname’s most attractive plays – the Guyanese Liza stands at 31-32 degrees API whilst Maka tended to tilt towards densities higher than 40 degrees.

In terms of political developments, domestic turmoils might slow down the pace of drilling but are unlikely to stop it – as recently as in 2017 the country saw a wave of protests on the back of IMF-suggested market reforms (cutting of fuel and electricity subsidies). Staatsolie seems genuinely interested in fostering Suriname’s oil sector, however it still needs to divest all its competences related to oversight of industry and following Guyana’s footsteps create a comprehensive oil and gas industry regulator. But luckily the license blocks themselves are far away from the hustle and bustle of Paramaribo – and Maka will certainly motivate all relevant stakeholders to speed up the development cycle on their respective allotments.

By Viktor Katona for Oilprice.com

[the grumpy old men] 19/1/2020 09:41

Leoneobull
19 Jan '20 - 07:46 - 40539 of 40540
0 0 0
Orinduik not far away



EXTRACT


Luckily most of Suriname’s offshore blocks are apportioned – ExxonMobil, Kosmos, Petronas, Tullow and Statoil have all taken up operatorships. An Exxon-led consortium comprising also Statoil and Hess Energy has won Block 59, the license area abutting Guyana Caieteur block. But perhaps even more interestingly in terms of future potential discoveries, Kosmos Energy might see its market posture improve with Block 42, located right across the Canje block and still relatively close to Guyana’s Turbot/Longtail future production hub. It has to be noted that Suriname’s shallow water license areas (preliminarily labelled blocks A, B, C and D) are still unallotted and given that all wells drilled heretofore in a radius of some 150km from the coastline turned out to be dry, they will remain under Staatsolie for quite some time presumably.

What does it mean for Staatsolie?

Before the Apache-Total tandem announced their Maka discovery, the national oil company Staatsolie has made public its intent to substantially expand its presence on the bond market in 2020 and also (if conditions would allow) to list its shares either on the London or the New York stock market. This would serve the purpose of raising some 1-2 billion to fund the Surinamese NOC’s exploration drive for the upcoming years, with the company combining the double role of state oil company and oil regulator. The Maka discovery will make it easier for Staatsolie to do so as it alleviates concerns that the oil bounty in the Cretaceous plays of offshore Guyana does indeed extend into Suriname.
Related: U.S. Drillers Rush To Hedge Production As Oil Prices Soar

The Surinamese NOC will most probably need a substantial amount of money because if early indications are not misleading enough, Staatsolie will to try to avail itself of its back-in rights, effectively allowing it to buy into proven commercial discoveries (10 or 20 percent was mooted) without taking part in the exploration process. Given that Staatsolie currently operates the entirety of Suriname’s upstream sector – namely two onshore fields called Calcutta and Tambaredjo with a total output of 17kbpd – the NOC will be one of hottest chips on the stock market if it manages to use back-in options wisely so as not to antagonize oil majors who bring the know-how to the country’s offshore plays.

What does it mean for the drillers?

Apache Corp’s jumped 27 percent on the Maka discovery within one day – perhaps the optimistic reaction was also boosted by the speed with which ExxonMobil managed to launch Liza (roughly 5 years from discovery to commissioning), certainly an example to emulate. In accordance with the shareholder’s drilling schedule, Apache and Total proceeded this mid-January to the spudding of another exploration well, named Sapakara West-1 and located 20 kilometers to the southeast of Maka. Sapakara will also shed some more light on the quality to be expected in Suriname’s most attractive plays – the Guyanese Liza stands at 31-32 degrees API whilst Maka tended to tilt towards densities higher than 40 degrees.

In terms of political developments, domestic turmoils might slow down the pace of drilling but are unlikely to stop it – as recently as in 2017 the country saw a wave of protests on the back of IMF-suggested market reforms (cutting of fuel and electricity subsidies). Staatsolie seems genuinely interested in fostering Suriname’s oil sector, however it still needs to divest all its competences related to oversight of industry and following Guyana’s footsteps create a comprehensive oil and gas industry regulator. But luckily the license blocks themselves are far away from the hustle and bustle of Paramaribo – and Maka will certainly motivate all relevant stakeholders to speed up the development cycle on their respective allotments.

By Viktor Katona for Oilprice.com

[the grumpy old men] 19/1/2020 09:39

HOW TO PLAY IT WITH ETFs

[the grumpy old men] 19/1/2020 09:38

HOW TO PLAY IT WITH ETFs

[leoneobull] 19/1/2020 07:46

Orinduik not far awayhttps://oilprice.com/Energy/Oil-Prices/How-Important-Is-The-Suriname-Oil-Discovery.html

[sentimentrules] 18/1/2020 15:25

"Now that gets me thinking about SR 120 derampings posts per day on#kie #intu #mtro and #tlw lol."

You forgot HUR and a few more

Anyway I'd want £50000 a month

[sentimentrules] 18/1/2020 15:24

That the Tom W that was investigated over £100,000 disappearing when a director at Rivington? ..

You do listen to some odd advisors lol

[sbb1x] 18/1/2020 15:21

TOM W just posted on Twitter about an aim company that pays 1k per month for rampy posts.Now that gets me thinking about SR 120 derampings posts per day on#kie #intu #mtro and #tlw lol.What's the going rate.... hehe

[sentimentrules] 18/1/2020 15:17

Their share prices collapsed already. Mind moved well on from those

[sbb1x] 18/1/2020 14:57

You forgot to mention KIE and INTU boards.

[stupmy] 18/1/2020 14:10

That is funny to be fair 'bit of a bullish retrace', will probably use that as well as the 'gerbil bounce' line.

[sentimentrules] 18/1/2020 13:59

Ahh skegy. Nice place. Does it still have butlins? Was there years ago. And was actually a great holiday lol

[leoneobull] 18/1/2020 13:57

After years of focusing on Africa, Tullow plowed funds into drilling off Guyana last year in a closely watched campaign, following earlier finds there by Exxon Mobil Corp. Tullow struck oil several times, though much of it turned out to be heavy, sulfurous crude.The company is now slowing the pace of activity in the South American country as it reviews last year's results, according to COO MacFarlane. It's "highly unlikely" there will be another well drilled there in 2020, he said on a call. Elsewhere on the continent, a well off Peru is planned this month.?Tullow's $1.5 billion charge reflects a revision to reserves at the TEN project's Enyenra field in Ghana and a drop in the long-term oil-price assumption to $65 a barrel from $75, the company said. It also includes a writedown of exploration costs, mainly in Kenya and Uganda.The charge "highlights the disappointing track record of capital allocation over the past few years," but "clears another negative out of the way" ahead of full 2019 results on March 12, Citigroup analysts said in a note. The trading update is "broadly in line with expectations," they said.

[leoneobull] 18/1/2020 13:51

I'm hearing 200p in 2020 SR. Get outside, nice day here in Skegness

[sentimentrules] 18/1/2020 11:26

Tulllow 21p

I still wont be right when there

You and most will just see it as "a bit of bullish retrace" haha

[sentimentrules] 18/1/2020 11:22

Oh and of course Tullow - short profit as we speak, Average somewhere around 60. (53p today)

Tullow short only begun.......................

Dont forget that spam too

loooool

[sentimentrules] 18/1/2020 11:22

Lets break down your spamming claim.

MTRO i was shiort it including the 250-280 rise into lloyds rumour - exited only a few days ago. (200p today)

HUR - been shorting it since the 40's - 50's mark. Collapsing as we speak (25,6p today)

So when you use the word 'spamming', maybe better to say "his excessive posting is annoying, even though right" :)

[loafofbread] 18/1/2020 08:55

Worth reading the release from Schlumberger on Friday.

It has just written off $12B on it's N America assets and called the beginning of the end for the 10 year shale revolution.

Asset relocation going to offshore oil development.

[waldron] 17/1/2020 18:57

Price (GBX) 53.36 Var % (+/-) -3.68% (Down -2.04)

High 56.48 Low 53.30

Volume 13,657,440 Last close 53.36 on 17-Jan-2020

Bid 53.36 Offer 53.48

Trading status Market Close Special conditions NONE



so snug in the 40 to 6Op BOX at 53.36p

[sentimentrules] 17/1/2020 18:28

Not a bad close for bulls. Expected -95%

next time