Tullow Oil Share Discussion Threads

[smartie6] 02/4/2020 07:31

Imo. The meeting will be cancelled as Trump will inevitably have to turn to the country’s health crisis. Those buying in will be trapped on the back of a sharp fall.

GLA, imo, you’re going to need it.

Is this company now bust?

[leoneobull] 02/4/2020 07:23

https://twitter.com/SenKevinCramer/status/1245003420513206272

[john09] 02/4/2020 07:08

Brent up 12

[leoneobull] 02/4/2020 07:06

Up 11% something is afoot. Trump's veiled threats usually work. Even if the guy is an orange coloured redneck, got to admire his ability to move markets

[john09] 02/4/2020 07:03

Oil flying

[leoneobull] 02/4/2020 06:58

Brent up 8.67% GLA. RBL soonish?

[sbb1x] 01/4/2020 19:37

Trump meeting will oil company excecutives to take place on Friday #oott

[loafofbread] 01/4/2020 16:30

First of many.

U.S. shale driller Whiting Petroleum Corp. filed for bankruptcy protection on Wednesday, becoming the first sizable fracking company to succumb to the crash in oil prices.

Whiting's bankruptcy filing comes as many U.S. oil drillers face pressure to meet hefty debt obligations they ran up with banks and bondholders to make America into the world's largest oil and gas producer, as U.S. benchmark crude prices now fall to around $20 a barrel.

Oil prices are coming off their largest monthly drop ever as the coronavirus pandemic saps oil demand at the same time Saudi Arabia presses a price war against Russia by flooding global markets with crude.

Whiting sought chapter 11 protection in the U.S. Bankruptcy Court in Houston, touting a proposed settlement with creditors to eliminate $2.2 billion in debt in return for a 97% equity stake.

The Denver-based company, one of the largest drillers in North Dakota's Bakken shale, had come under financial pressure even before U.S. crude prices dropped. By Tuesday, Whiting shares had fallen to 67 cents.

Chief Executive Brad Holly said the company's proposed restructuring was its "best path forward" given uncertainty about how long the Saudi-Russia price war and the pandemic would go on.

Whiting foreshadowed its bankruptcy by taking steps on Friday to protect $3.4 billion in net operating losses, which are potentially valuable tax assets that could be used to reduce future federal taxes.

The company also drew down $650 million from a credit facility last week to generate cash and won't make a $262 million debt payment that comes due Wednesday.

The deterioration in oil prices has pushed many U.S. shale companies to the brink of bankruptcy and doomed the hopes of others to restructure their operations under chapter 11.

Sanchez Energy Corp. reached a proposed deal on Monday to hand control to its bankruptcy lenders after the price collapse dashed their chances of being repaid. EP Energy Corp. is looking for a path out of chapter 11 following the collapse of an exit deal. Alta Mesa Resources Inc. is scrambling to sell its shale assets out of bankruptcy after a proposed sale fell throug

[sbb1x] 01/4/2020 16:06

Very strange no derampers on the PMO and enquest boards but they have bigger headaches than tullow at this time.Does that tell me derampers are traders looking for cheaper entries...

[mcsean2164] 01/4/2020 15:36

Well, it looks like back to normal here again. most of the extreme gamblers seem to have moved on. Fingers crossed RBL decision will be ok.

[costax1654x] 01/4/2020 14:11

1p -14 mil,2p-28 mil,3p-42 mil

[subsurface] 01/4/2020 12:31

next few days ,they will do a press release when it is complete they are at the tail end of it as per LSE poster

[mcsean2164] 01/4/2020 12:13

Any idea when the rbl decision will come?

[sbb1x] 01/4/2020 12:07

10p = 140m mkt cap20p = 280m mkt cap30p = 420m mkt cap

[sbb1x] 01/4/2020 12:05

Just woke up.Did many lucky people buy under 10p ?

[jotoha2] 01/4/2020 12:03

Well said indeed.

[spirito] 01/4/2020 10:25

death per million of population is best measure

[pro_s2009] 01/4/2020 10:24

justthemoney - and once into Admin along comes Sammy with a bailout package - equity shareholders get wiped out.

This is why the share price is where it is. A lot of risk.

[justthemoney] 01/4/2020 09:24

TLW have become a distressed equity, completely decoupled from OIL price movement. A series of blunders and massive write-offs have caused 95%+ share price loss in the past couple of months alone. What a shame.

[mcsean2164] 01/4/2020 09:09

Still no rbl news....