Tullow Oil Share Discussion Threads

[rty] 18/2/2020 08:35

Interesting

[troajan1] 18/2/2020 06:32

It was a bad start for the week for embattled oil and gas explorer Tullow Oil.


The Times: Tullow Oil shareholders have suffered another setback after the embattled explorer said that a well off Peru had failed to strike oil.

[sbb1x] 18/2/2020 03:34

Nice ut. Active buyer all day my guess.

[leoneobull] 17/2/2020 17:48

Closed at high for the day. Cheer up

[billy_buffin] 17/2/2020 17:18

nt68 Z38? Was same drill-bit to test two targets in same wellbore.

[novicetrade68] 17/2/2020 16:22

I thought they were after two targets in Z34.. One was updated last week and proved no gas yet today the whole well is written off and nothing about the second drill bit.

[crossing_the_rubicon] 17/2/2020 14:34

Disappointing well result but that's the Oil explo business.

Can't hit the jackpot all the time. More often that not it's a P&A.

[theblackbaron] 17/2/2020 13:12

Well stumpy I see this firmly retesting 50s soon

[stupmy] 17/2/2020 12:45

tbb, no I'm currently not in profit. I've bought 3 positions, not sure on the average price but I'd guess 47. Possibly 46-47.

[daniel levi bmd] 17/2/2020 12:00

FYI

#ScumBag1 V #ScumBag2 Lofgran & The Nostra Terra Oil & Gas 'Secret' Payments to..... 'requisitioner', Ben(t) Turney.



Dan
x

[pro_s2009] 17/2/2020 11:59

No more drilling for TLW in Guyana in 2020 perhaps.......... New EIA requirement is going to slow everything down.





EPA now requires environmental study for exploratory wells

Feb 10, 2020

Guyana Energy Monitor February 10 2020

Little noticed story in the back pages of the Guyana Times on Sunday has the potential to significantly slow down drilling activity in the Guyana Basin.

“Spanish oil company Repsol Exploration Guyana has applied to the Environmental Protection Agency (EPA) to drill more wells in the Kanuku Block, one month after it was announced that the oil found in the previous well it had drilled would not be commercialised.

According to the EPA, Repsol applied to drill and appraise multiple exploration wells in the Kanuku Block. It was noted that the exercise can affect air and water quality, as well as wildlife. As such, the Agency noted that an Environmental Impact Assessment (EIA) is needed.”

Previously, the EPA had only required the oil companies to submit an Environmental Management Plan, a much shorter and easier process. In contrast an EIA requires studies on the project’s effects on wildlife along with public hearings which can take up to a year. There needs to be more clarity on the exact nature of the requirements as the article suggests it is the shore base activity to support wells that is also under scrutiny. This regulatory change could complicate drilling programmes for 2020 in the entire basin including Exxon’s Stabroek Block and Canje which is set to drill in April.

[theblackbaron] 17/2/2020 11:50

Well your in profit on 43 as mentioned the well was rns as doomed last week by partner hence the fall to 43 before think Thursday now all the negatives out way and oil moving up on speculation opec meeting in early March I expect the charts point back to 60.

On fundermentals now Peru messed up the full attention will be on Guyana going forwards which has a high cos

[stupmy] 17/2/2020 11:32

Well, obviously I'm watching more closely now. I didn't really view 41 as support, it's a gap, from memory (not in front of my charting computer) there is some support around 40 or maybe it was 38/39. I like the fact that what's his name has bought 12% of the shares. That's a lot of money and clearly suggests that he sees value here. I tend to follow the money. Not unlike a little parasitic flea, that takes a nibble and jumps off the dog before it even knows it's been bitten. Rightly or wrongly, part of my plan was to wait for 41 and start to accumulate.

[fuji99] 17/2/2020 11:24

The market took the news in a positive way as it is not unusual. The presence of TLW in Peru is a plus for its portfolio and future drilling.

[leoneobull] 17/2/2020 10:38

I'm expecting 100p plus in 2020. One bit of good news needed.

[florenceorbis] 17/2/2020 09:05

Peel Hunt Hold 75.00 - Retains

[sentimentrules] 17/2/2020 08:52

Stumpy

All retail at 41. No fund money ( which is needed to be buying a support)

Il only say it once

41 false support confirmed

[florenceorbis] 17/2/2020 08:45

Philip Whiterow

08:09 Mon 17 Feb 2020

Follow Philip on:
viewTullow Oil PLC
Tullow Oil's Peru campaign off to disappointing start as first well comes up dry

Karoon Energy is the operator while Tullow has a 35% interest in Z-38
Tullow Oil PLC -
The consortium will now assess where to drill next

Tullow Oil PLC’s (LON:TLW) has taken another blow with its Marina-1 exploration well offshore Peru coming up dry.

The well tested the La Cruz and Mal Pelo formations on block Z-38 and despite minor gas shows there were no indications of hydrocarbons in the primary targets in the Tumbes formation.

Marina-1, which was drilled to 3,022 metres in 362 metres of water, will now be plugged and abandoned.

Karoon Energy is the operator while Tullow has a 35% interest.

Mark MacFarlane, Tullow’s chief operating officer, said: "This is the first ever well in the deep-water section of the under-explored Tumbes basin.

“We will now integrate the important well information with the seismic data that we are currently reprocessing and update our prospect inventory for blocks Z-38 and Z-64.

"Tullow is building an extensive exploration position in Peru and, while this result is not what we had hoped for, we remain positive about Peru's wider offshore exploration potential."

Add related topics to MyProactive

[fuji99] 17/2/2020 08:38

The positive factor is that TLW has interests in Peru. Drilling outcome is not always as one would have wished for because if every explorer knows the result of a drill in advance, oil supply would be very high and oil price would be very low. So these things happen from time to time.

[stupmy] 17/2/2020 08:36

Maybe a little early in the session, but I've added around 43. For me the downside business to 41 is now resolved.

Another good guess Whites

[mano300] 17/2/2020 08:18

This will b up by the day to 47

[sentimentrules] 17/2/2020 08:13

Blue yonder lol

[mariopeter] 17/2/2020 08:11

Correct reaction as no one bought because of an exciting drill in Peru. Might even end up blue. Oil could do well as the latest corona virus is put into perspective.