Tullow Oil Share Discussion Threads

[anslow] 07/4/2020 10:16

Only an hour lol bodes well then

[justthemoney] 07/4/2020 10:15

hxxps://www.businessdailyafrica.com/corporate/companies/Tullow-values-Kenya-assets-at-Sh69-billion/4003102-5514876-6ijjvd/index.html

hxxps://africanbusinessmagazine.com/sectors/energy/tullow-oils-woes-threaten-uganda-and-kenya-oil-hopes/

[cool hand kev] 07/4/2020 10:09

Finally In @27 it took an hour to execute my order :-)
SP can rise now

[yidarmytom] 07/4/2020 09:58

up and down a lot at the moment, OB all over the place

[whatsthepoint] 07/4/2020 09:55

Now using the wide spread to shake sellers out.

[subsurface] 07/4/2020 09:47

Iamgreat1 Exxon and Shell Have cut back on spend, Exxon has Guyana in Focus Shell have had many problems over the years in Nigeria similar to Kenya and Uganda, I Fancy China they took the first delivery of Oil from Kenya and can play the very long game.

[misca2] 07/4/2020 09:44

Tullow Oil revises 2020 capex to $300m amid COVID-19 and low oil prices

Oil & GasUpstreamOffshore

By NS Energy Staff Writer 06 Apr 2020

Last month, Tullow Oil set its 2020 capex at $350m, which marked a 30% cut compared to the previous year
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COVID-19 and low oil prices force Tullow Oil to further reduce its 2020 capex. (Credit: Wonita Janzen from Pixabay)

Tullow Oil has revised its 2020 capital expenditure (capex) to about $300m following the identification of additional cost savings in response to the challenging external factors.

Last month, the UK-based oil and gas company announced its 2020 capex at $350m, which marks a 30% cut compared to the previous year. The company had also announced a budget of about $100m on decommissioning activities, which has now been brought down to $65m.

The company, currently has interests in more than 70 exploration and production licences, that are spread across 15 countries in the African and South American continents.

Tullow Oil claimed that it has identified savings mainly through the postponment of activities across its portfolio and by cost cutting that can be achieved by ongoing farm-down actions.

In Ghana, the company is said to generate savings through the early termination of the Maersk Venturer rig and the postponement of certain well activity along with the removal of any non-critical operations which do not focus on safety and asset reliability.

However, the UK oil and gas firm will continue to make investments in projects that will provide good returns with its board of directors agreeing to advance the next phase of the Simba development in Gabon which is expected to pay back by the end of next year at $30/bbl.
Preparations made by Tullow Oil to handle coronavirus outbreak

The company said that its production activities in West Africa have not been impacted by COVID-19 as of now. Apart from implementing existing infectious disease mitigation plans, the company said that all its personnel in West Africa will self-isolate in Ghana for two weeks prior to their transfer to its floating production storage and offloading units (FPSOs) so that that the risk of a COVID-19 outbreak offshore is kept under a check.

Additionally, the company has completed a redetermination of its reserves based lending (RBL) facility to confirm a debt capacity of $1.9bn and a headroom of about $700m.

Tullow Oil chief financial officer Les Wood said: “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 $1 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.”

[tidy 2] 07/4/2020 09:40

Nice shake helping the shorts close

[iamgreat1] 07/4/2020 09:34

East African assets have been eyed up by Chemchina, Royal Dutch shell and Exxonmobil

[misca2] 07/4/2020 09:31

Price (GBX) 27.78 Var % (+/-) +15.22% (Up +3.67)

High 28.00 Low 25.00

Volume 26,280,258 Last close 24.11 on 06-Apr-2020

Bid 27.31 Offer 27.78

Trading status Regular Trading Special conditions NONE

[whatsthepoint] 07/4/2020 09:31

Looks like 27.5 to 28 is the defend at all costs level by the shorts and MM Think we may get a small pull back for another lower entry. Same daily pattern gap up rise in morning then slow pull backs and shakes.

[misca2] 07/4/2020 09:29

next strong resistences appears to be 37 then 45

[aljm] 07/4/2020 09:28

ah ok, didnt even know that site existed, tyvm :)

[p winky] 07/4/2020 09:28

Shorttracker.co.uk

[tidy 2] 07/4/2020 09:26

Short tracker HTTPS://shorttracker.co.uk/company/GB0001500809/

[cumnor] 07/4/2020 09:22

Delighted for the shorts-hope ye're having another good morning, esp with Putin, Trump and SA on the same hymn sheet.

[aljm] 07/4/2020 09:20

tidy, how do you know haw many shorts are out there? genuinely curious

[turvart] 07/4/2020 09:18

When is TLW hoping to take on the new CEO?

[tidy 2] 07/4/2020 09:18

Although less shares in issue for PMO and 19% short. Buyback also started and have 159m there v 85m here to buy back. Nice sustained upswing.

[anslow] 07/4/2020 09:16

Up down up down up down then boom Shaka Laka

[tidy 2] 07/4/2020 09:12

Similar to PMO