Tullow Oil Share Discussion Threads

[thecashmoney] 08/4/2020 07:51

1 billion asset sale I've got a £1.2 target.

Expect more shorts to close today

[leoneobull] 08/4/2020 07:50

I would like to wish good morning to all SR's different nom de guerres...

[spacedust] 08/4/2020 07:45

Would be most welcome

[spacedust] 08/4/2020 07:45

Red day elsewhere. Blue day here

[joe king1] 08/4/2020 07:43

Setting up to be Red day

[turvart] 08/4/2020 07:41

Don't you think people are getting ahead of themselves regarding this Uganda deal? I think until it's released by TLW via an RNS then it's just rumours.

[allseeingeye1] 08/4/2020 07:37

I see more 40p IMO - reasons are

-Opec deal more likely to happy
-Brent at 34
-more importantly the Ugandan deal is going to give the cash to clear a huge portion of Tullows debt
-New CEO imminent
-RNS stating the company is not going bust and confirms its credit line.

No brainer if you ask me.

[turvart] 08/4/2020 07:35

Oiltrade4,

How do you know TLW are going to release an RNS?

[oiltrader4] 08/4/2020 07:33

35p finish today and that’s being conservative

[oiltrader4] 08/4/2020 07:30

Could be the biggest day yet especially with the news that has announced, Tullow are currently writing the appropriate RNS to release regarding the leaked article. Shorts going to get massacred today.

[the canadian mounted] 08/4/2020 07:25

Yes I’m a holder

[molatovkid] 08/4/2020 07:22

No shares no, Canadian?

[the canadian mounted] 08/4/2020 07:20

No rns no deal

[molatovkid] 08/4/2020 07:18

From March:

[spacedust] 08/4/2020 07:15

So oil bounced back. Like I said as long as oil goes up before 8am then its fine.

Between 430pm and 6am it can go down

[subsurface] 08/4/2020 06:05

Uganda need this as they have been dipping into the Oil fund,Interesting its only reported in a place at the moment,lets hear the fat lady sing!

[leoneobull] 08/4/2020 05:18

Message for Marshall WaceThe Uganda government and the three joint venture partners in the Lake Albert oil project -Tullow Oil, Total E&P, and China National Offshore Oil Corporation -have reached a deal on the sale of Tullow's assets, this website can confirm.Details of the new sale and purchase agreements are still highly guarded. However, industry insiders revealed "progress and a deal being reached" following the recent visit of the Total Group chief executive and board chair, Patrick Pouyanné.The initial farm-down process, valued at $900m, collapsed in August 2019 after the joint venture partners failed to get clearance from the government. The farm-down was announced in January 2017, with Tullow seeking to sell 21.6% of its 33.3% areas in Exploration Areas 1, 1A, 2 and 3A to its partners.Sources said that Mr Pouyanné quietly visited the country in early March during the Presidential Investors' Roundtable at State House, Entebbe, during which he held a meeting with President Museveni.The meeting was a follow up to Mr Pouyanné's visit last October when he held a closed-door one-on-one meeting with the president. The March meeting was a "good one and paved a way forward," said our source, who prefers to remain anonymous.At last year's meeting, the two principles agreed to consult their teams and arrive at a harmonised position, which was agreed upon last month.The contentious issues include the treatment of a capital gains tax on the transaction worth $185m (Shs673bn) payable over a period of 25 years.The president's dilemma was to either forego or revise the levy in order to unlock a final investment decision worth about $10bn for Uganda's oil projects.The second issue is a disagreement over how much costs the oil firms can recover before paying corporate income tax at the point of oil production; the firms want the government to lift its limit. The more costs the company book, the less tax they will pay.However, the government insists that the cap on recoverable costs will not be lifted. It also wants the firms to pay the taxes before oil production starts, in line with the Income Tax Amendment of 2017. But because the tax is imposed on profits, the oil firms argue that is being charged on imagined profits.The third issues was the economics of the planned oil pipeline to Tanzania's coast.This website could not immediately establish the exact details of the new deal, but insiders say the finer details are being ironed out and the deal will be announced soon, most likely after the coronavirus outbreak clears.RELATED ARTICLES?Tullow sells oil project stake to Total for $900 million

[leoneobull] 08/4/2020 05:11

https://ugbusiness.com/9091/uganda-and-oil-companies-reach-deal-on-tullow-farm-downIf TLW isn't a pound by xmas I'll eat my hat.Dyor fellow gamblers

[leoneobull] 08/4/2020 04:53

The cure for low.prices is? Low prices.https://oilprice.com/Energy/Energy-General/US-Rig-Count-Could-Collapse-By-65.html

[leoneobull] 08/4/2020 04:49

Plus full carry to 23000 a day tlw share of production by 2023. If Ghana gas demand can get fixed we would be at 100ks a day . At 50 to 60 usd a barrel, any future concerns around debt repayments would dissipate, so major rerating post CV demand drop

[roberto mancini] 07/4/2020 22:43

Pays for development drilling costs, TLW get X amount share of extra bpd eventually, 2-3 yrs time.

[sbb1x] 07/4/2020 22:42

Dow 23,600 - 22,600. Could see a red day on all stocks tomorrow, I think today was a selling day on ALL stocks

[cool hand kev] 07/4/2020 22:25

Can someone tell me what is the benefits of the Ugandan deal?