Tullow Oil Share Discussion Threads

[orchestralis] 03/4/2020 11:36

I'd average down as well.

[tidy 2] 03/4/2020 11:33

Give it 12 months. Lets see what comes of the meeting at 3pm later with trump and the oiliers. TLW bargain I would average down with that holding personally.

[wildsheroo] 03/4/2020 11:32

But he'll run out of shares at some point.

[0rient] 03/4/2020 11:29

Only another 120p to go before I get back to break even!! The pain is real!!
What’s the chances of it ever getting back there? If any!
I have about 5 years before I need to sell

[tidy 2] 03/4/2020 11:29

Balsy with todays news and Brent up 11%

[whatsthepoint] 03/4/2020 11:25

No this is clearly a big shorter trying to take all the steam out of the buying pressure by willing to offer a load of shares at 14p its a very big gamble. Like playing 3 card brag blind.

[tidy 2] 03/4/2020 11:23

Watch the chart you see what's happening.

[anslow] 03/4/2020 11:22

There trying to fill uncle Sams new buy order and they are struggling big time

[whatsthepoint] 03/4/2020 11:17

Must be working a huge sell order

[whatsthepoint] 03/4/2020 11:16

Someone does not want this over 14p

[bootycall] 03/4/2020 11:07

Tullow now represents a free option on asset disposals. For the next 9-12 months they can negotiate to push out,or reprice,the outstanding convertibles. If the forward oil price moves up to $50 in 12 months time it will be on approx 1 times cash flow. If they make any sensible realisation of assets this could 10 bag from here. I expect a move to high 20’s as market reflects new risk profile. If the share price does not adjust after disposals the Board has the no brainier option of buying back shares. I bought shares this morning as i perceived pennies of downside and at least a pound of upside. Remember the oil price does not have to rise this year...its the forward price which will enable them to lock in cash flow and rerate.


PLEASE DYOR AND DO NOT RELY ON THE OPINIONS EXPRESSED ABOVE WHEN MAKING AN INVESTMENT DECISION

[tidy 2] 03/4/2020 10:51

Brent over 10% now

[anslow] 03/4/2020 10:47

Brent now rocketing, watch this space

[tidy 2] 03/4/2020 10:45

Brent up 9.7%

[waldron] 03/4/2020 10:41

Tullow Oil Shrinks Planned Expenditure; Debt Capacity USD1.9 Billion

Fri, 3rd Apr 2020 10:24
Alliance News

(Alliance News) - Tullow Oil PLC on Friday said it has further reduced its planned capital and decommissioning expenditure for 2020 after a review and had USD1.9 billion of debt capacity approved by its lending syndicate.

Shares in Tullow were up 20% at 14.02 pence in London on Friday morning.

Tullow had originally planned an approximately 30% cut to capital expenditure year-on-year for 2020 to around USD350 million but is now planning a further cut to about USD300 million, with planned decommissioning expenditure of approximately USD65 million from the previously expected figure of around USD100 million.

The cost savings will be mainly "through the deferral of activities across the portfolio and through savings that can be realised by ongoing farm-down activities", Tullow said.

Further, Tullow completed the redetermination of its RBL credit facility with USD1.9 billion of debt capacity now approved by its lending syndicate. It now has about USD700 million of liquidity headroom in undrawn facilities and free cash at the start of the second quarter.

"This level of headroom is deemed appropriate by the board considering Tullow's much reduced future capital commitments," the company said.

In addition, Tullow said it has chosen to shrink its facility commitments down to about USD2.2 billion from USD2.4 billion and "effectively accelerating the first scheduled commitment amortisation from October 2020." This should reduce finance costs with the next scheduled amortisation of USD211 million to take plane in April 2021. This schedule will continue every six months until the final 2024 maturity date.

Tullow currently has 60% of its 2020 sales revenue hedged at a floor of around USD57 per barrel for 2020 and 40% hedged for 2021 sales revenue with a USD53 per barrel floor. In January and February, its realised oil price was USD62 a barrel but after the oil price drop is now expects hedging receipts of approximately USD30 million for March.

Chief Financial Officer Les Wood said: "Securing the ongoing support of our RBL lending banks and confirming our debt capacity has been important given the current challenging environment. Today's positive news verifies the strength of our producing assets and robust hedging strategy which underpin the RBL and, combined with the further cost savings we have identified, confirms the strength of our liquidity in the medium-term. Nevertheless, strengthening the balance sheet continues to be a key priority with the group seeking to raise proceeds in excess of USD1 billion through portfolio management.

"Elsewhere in the business, Tullow is responding well to the challenges presented by the coronavirus pandemic with strong controls and processes in place to allow the business to operate as close to normal as possible in spite of these difficult times."

So far, Tullow's production operations in west Africa have been unharmed by Covid-19.

By Anna Farley; [e-mail]

[anslow] 03/4/2020 10:39

MMS after the stops at the moment

[crossing_the_rubicon] 03/4/2020 10:35

"Leoneobull2 Apr '20 - 20:14 - 45018 of 45137
I've gone survivalist and planted loads of seeds. I am happy to grow and pick my own"

Ah all about YOU, YOU, YOU again I see.

I've already been doing that.

Remoaners are so selfish. As we all know.

[anslow] 03/4/2020 10:17

Can't see that happening, the U.S markets look set for a good day, Crude on a bear run, only so long they can hold this back

[spacedust] 03/4/2020 10:15

Will finish below 15p. Rather a gradual rise then massive spikes

[anslow] 03/4/2020 10:06

What a gift this price is, wish I had more funds for a bit more skin in this

[anslow] 03/4/2020 09:55

Sams on a mission today, holdings rns soon

[sbb1x] 03/4/2020 09:55

7 million buy ?