Tullow Oil Share Discussion Threads

[sentimentrules] 24/2/2020 12:45

Anyway what production hedged? Imaginary future barrels?

[sentimentrules] 24/2/2020 12:45

It didn't help them when I went short 58p and it aint gonna help them at 38p

[w1ndjammer] 24/2/2020 12:38

SR

TLW have production hedged.......

WJ.

[sentimentrules] 24/2/2020 12:33

21p soon. 15p target if crude stays weak

[costax1654x] 24/2/2020 12:16

If corona gets more serious ,who knows!20?25?

[w1ndjammer] 24/2/2020 11:19

Thats the bottom in, bought 37p lets see.....

WJ.

[sentimentrules] 24/2/2020 10:33

Somebody here laughed when I went short Dow last week. Who was it?

[pro_s2009] 24/2/2020 10:31

All eyes on the DOW later......if that tanks tonight then expect a savage close on the FTSE and bad opening tomorrow.

[sentimentrules] 24/2/2020 10:30

30's sorted

21p yet?

[mariopeter] 24/2/2020 09:29

Europe's financial basket case lets in the virus. Could not stop selling cups of coffee for 15 Euro to the Chinese in Venice.

[sbb1x] 24/2/2020 08:55

No other way to crash markets under Mr Trump Brexit is great Mr Bull. Lol

[suffersnofools] 24/2/2020 08:54

The markets are in a massive cheap money bubble, this is only the start of the unwind. 50-70pc decline on S&P over next 2 years

[crossing_the_rubicon] 24/2/2020 08:47

"Sbb1x24 Feb '20 - 08:33 - 41387 of 41388
#coronavirus manmade to crash oil, economy and world markets
Helped the shorters big time"


I'm pretty cynical at the best of times but even I'm struggling to believe that narrative.

It's looking more and more likely that it did not originate in Wuhan food market though.

[leoneobull] 24/2/2020 08:45

Perhaps the Brexitears here can conjure up some Dunkirk spirit?

[sbb1x] 24/2/2020 08:33

#coronavirus manmade to crash oil, economy and world markets Helped the shorters big time.

[billy_buffin] 24/2/2020 07:31

'The Jubilee gas enhancement work program that was rescheduled from the fourth quarter of 2019 into the first quarter of 2020, was completed in early February with production rates of around 90,000 bopd now being achieved'

Kosmos reports today... Edit: Includes gas to flare allowance?

[leoneobull] 24/2/2020 03:54

Motley fools..

[maywillow] 23/2/2020 19:32

What next for the Tullow Oil share price?

Andy Ross | Sunday, 23rd February, 2020 | More on: TLW
Road signs rerouting traffic
Image source: Getty Images.

The Tullow Oil (LSE: TLW) share price has fallen by over 75% in the last 12 months. The oil producer gave investors a massive pre-Christmas dose of bad news when it revealed falling production targets. Unsurprisingly, it was the worst-performing share on the FTSE 250 by some distance.
Falling oil production

Back in November last year, the company announced that oil discovered months earlier off the coast of Guyana in South America was found to be heavy and high in sulphur. This was far from ideal. It means it’s costly, and possibly commercially unviable, to extract.

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Not long after, Tullow slashed its oil production forecasts for the coming years due to issues at its key Ghana projects. Showing the extent of its problems, it also suspended its dividend and announced that its chief executive Paul McDade and its exploration director Angus McCoss had quit.

Not done with the bad news, the group warned last month that it expects to report a $1.5 billion impairment charge for 2019 as it cut its long-term oil price assumptions and reduced its reserves estimates.
The remedies

The oil group is seeking to shave $20 million (€18.2 million) off its annual costs. This is set to involve the explorer cutting a third of its global workforce and closing its office in Dublin. A bounce in the oil price – which could happen given instability on the Middle East – would also be a welcome boost for the group. But clearly that’s a factor beyond its control. And worse, the spread of the Coronavirus has knocked the oil price down.

A takeover may well be the best hope for current shareholders and there have been rumours that much larger French company, Total, is interested. Although even if a takeover did happen it’s far from clear that a premium would be paid for Tullow’s shares give the challenges it faces.
The likely result

Although it has been reported African oil executive Samuel Dossou-Aworet has used market nervousness around the company to build up an 11% stake in the past two months, I think as an ordinary investor, investing in the shares is a very risky thing to do. The company faces severe problems, relies on a high oil price, which is beyond its control, and is facing massive operational challenges.

As it stands, Tullow Oil has around £2.16 billion of debt on its balance sheet – this seems to be a bit of a noose around the company’s neck. It makes it more vulnerable to lenders and reliant on the oil price going up – something that is far from certain.

A new management team may be able to turn the ship but there’s no proof of an improvement yet, so I’d avoid the company. Barclays analysts however have taken a more optimistic view, suggesting the shares might be good for a brave, risk-tolerant investor. They’ve given the shares a price target of 75p. The shares are currently less than 50p.
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[theblackbaron] 22/2/2020 16:04

Sat 22 article Daily Nation China bids for Turkana oil - Kenyan assets 32.5% interest helping tullow reduces to 30% total 25% and African oil 12.5% some good news at last

[stupmy] 22/2/2020 14:24

Do I sense a change in the newsflow? Perception change can't do any harm hear at the present time.

[subsurface] 22/2/2020 14:00

This shold help things along too, from Valentines day