Tullow Oil Share Discussion Threads

[waldron] 23/1/2020 16:24

To any predators out there

it might just be a waiting game

[0rient] 23/1/2020 16:12

Anyone hoping for a low ball takeover?..say around the 80p mark. Or are we happy holding & waiting to see if TLW can turn things around, reduce debt, increase production and get back to 150p+..its a big ask!!

[sbb1x] 23/1/2020 15:07

48.54 - 52.47-48.75- ?

[jimarilo] 23/1/2020 14:57

"After disappointing results in Guyana"

[leoneobull] 23/1/2020 14:44

I cant show a valuation as I'm busy at work. I cant give up the day job with share price languishing at 50p LOL

[martinfrench] 23/1/2020 13:40

and where has tullows stake valued at 800 mill come from, intrigued, anyone have a source?

[la forge] 23/1/2020 13:37

Tullow, Total Start Sale of Partial Stakes in Kenya Oil Fields

Laura Hurst and Francois de Beaupuy, Bloomberg News








(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter

Tullow Oil Plc and Total SA have started the process to sell part of their stakes in oil discoveries in Kenya, said people familiar with the matter.

The French energy giant is seeking to sell half of its 25% stake in the fields, said one of the people. Tullow said last year that it planned to reduce its holding to 30% from 50%.

Tullow’s sale is part of a broader review of its operations and assets intended to simplify the business and cut costs. Shares of the company slumped 64% last year due to disappointing exploration results in South American and lower-than-expected production from its main oil asset in Ghana. Chief Executive Officer Paul McDade and exploration chief Angus McCoss left the company in December.

The oil discoveries in eastern Kenya haven’t yet been brought to the market. A plan for initial development was suspended in the fourth quarter after severe weather damaged roads, and will remain so until they can be repaired, Tullow said on Jan. 15. Full exploitation of the resources would require a $1.1 billion pipeline to the coast of east Africa.

Tullow faces a similar challenge in monetizing more than a billion barrels of oil resources in eastern Uganda, which remain locked deep underground despite being discovered about a decade ago. Work on a $3.5 billion pipeline to deliver that oil to international markets is on hold after the company’s plan to sell a 22% stake in those assets to Total fell apart last year.

To contact the reporters on this story: Laura Hurst in London at [e-mail];Francois de Beaupuy in Paris at [e-mail]

To contact the editors responsible for this story: James Herron at [e-mail], Christopher Sell

[martinfrench] 23/1/2020 13:21

being an AOI holder i seriously hope tullow do exit, dont think they can afford to build the pipeline or are that interested

[crossing_the_rubicon] 23/1/2020 12:39

Ariane,

Thanks for the link.

This will evidence what some of the assets are actually worth, not their fair value, not their book value, nor some rose tinted specs value.

Proof will be in the pudding.

Will be interesting to see how the sale pans out tbf.

[badders1] 23/1/2020 12:38

Crossing_the_Rubicon. Maybe because Shareholders wouldn’t accept a bid of less than £1.20 !

[crossing_the_rubicon] 23/1/2020 12:12

"Leoneobull23 Jan '20 - 12:07 - 40642 of 40642
Uganda, Ghana and Guyana = 120p including modest bid premium IMOV"


Can you show your working for such valuation.

Additionally I presume that'd be your assessment of Fair Value.

So why would any bidder pay a company in severe financial and organisational turmoil
Fair Value???

They'd be looking to scoop up the assets for pennies in the pound surely?

[leoneobull] 23/1/2020 12:07

Uganda, Ghana and Guyana = 120p including modest bid premium IMOV

[crossing_the_rubicon] 23/1/2020 11:31

"Leoneobull23 Jan '20 - 09:10 - 40635 of 40640
I would take 1.20£ tomorrow in a bid"

Current market price is 50p odd!

Why would any bidder pay 100p let alone 120p????

Clutching at straws.

[wildsheroo] 23/1/2020 11:10

And there she rise, it should be 58p by tomorrow evening.

[buffskins] 23/1/2020 10:47

40 pence by February

[stupmy] 23/1/2020 10:45

For what it's worth share price seems to be trying to reject 48.45 (rising tl support on 2 hour chart) and make a break to the upside. I still haven't entered, but it's a sign that buyers are trying to maintain the price around here for now.

[teamwork1] 23/1/2020 09:15

I'd be happy with 1.20 then look.at other shares to recover rest of my money.

[leoneobull] 23/1/2020 09:10

I would take 1.20£ tomorrow in a bid

[nori_wasabi] 23/1/2020 08:57

Over one month old but still valid. What Bloomberg Intelligence Says:
The surprise CEO resignation, dividend suspension and revision of production guidance cast a “dark shadow over the company’s outlook,” while the start of a strategic review “increases the likelihood of an eventual sale of the company”

[stupmy] 23/1/2020 08:34

Leoneo, SR will be there if he really is short and I have no reason to doubt it!

[leoneobull] 23/1/2020 08:08

2020 xmas cancelled 2021 xmas cancelled 2022 xmas cancelled 2023 welcome to the TLW xmas party

[stupmy] 23/1/2020 06:52

As is so often the case hsf. Management's position is not as closely aligned with that of SHs as it should be. Never become a prisoner to managements views.