Tullow Oil Share Discussion Threads

[smartie6] 23/4/2020 08:40

Have you just seen what ham just posted. FFS the uneducated are fkd. FFS how stupid are people on this board it’s like talking to pork.

[f0rl0rn] 23/4/2020 08:39

breakeven oil price of c.$35/bbl for the rest of the year.

[spacedust] 23/4/2020 08:39

Shorts last chance to close.


The transfer of funds from the impatient to the patient taking place once again. 60p at some point in May 2020

[justthemoney] 23/4/2020 08:38

$575m is equivalent to around 32p per share

[f0rl0rn] 23/4/2020 08:38

The sale of our Uganda assets is an excellent first step towards our target of raising over $1 billion of proceeds to reduce net debt, strengthen the balance sheet and secure a more conservative capital structure.

[marmar80] 23/4/2020 08:38

What is the breakeven oil level for Tullow?

[ham74] 23/4/2020 08:38

This is hard cash, which more than covers debt due over the next year or so. The balance sheet valuation was just on paper.

[sbb1x] 23/4/2020 08:38

Volume 36m

[whites123] 23/4/2020 08:37

Reduced debt.
Promise to reduce debt by more.

And... whats this.... Oil hedged at > $57 for 2020 and > $53 for 2021..

Last time oil was at $57 TLW was trading at 62p

So one could say ... where is the 62p now?
Then also factor in the asset sale...
Factor in the Uganda tax implications.
Factor in the new CEO
Factor in the promise of more sales to reduce debt.

Can anyone see the discrepancy?

Like I have said many a time... £1.00 all over it... Not today, maybe not tomorrow, but certainly its going to happen.

[smartie6] 23/4/2020 08:37

Boys, show me the money.

[datait] 23/4/2020 08:36

All market makers moving up.

[mcsean2164] 23/4/2020 08:35

I'm in shock.

This week, we have announced two significant milestones with the agreement to sell our Uganda interests to Total for $575 million in cash and the appointment of our new CEO, Rahul Dhir. The sale of our Uganda assets is an excellent first step towards our target of raising over $1 billion of proceeds to reduce net debt, strengthen the balance sheet and secure a more conservative capital structure.

What has Dorothy done? What an awful deal.

[f0rl0rn] 23/4/2020 08:35

Tullow announced its full year results for the year ended 31 December 2019 on 12 March 2020. In these results the Directors assessed that the Group was a going concern for twelve months from approval of the Annual Report and Accounts. However, at the time of issuing the Annual Report and Accounts there were unprecedented market conditions relating to COVID-19 and the oil price. Therefore, this increased the risk that the Group may not be able to sufficiently progress any planned portfolio management activities, as a result of which its lenders may not approve the bi-annual RBL redetermination liquidity assessments or covenant amendment if subsequently required. Therefore, the Directors concluded that there is a material uncertainty, that may cast significant doubt, that the Group will be able to operate as a going concern. Although this material uncertainty remains in place, this Transaction represents part of the mitigating actions available to the Group and the Directors recognise that further portfolio management beyond this Transaction will be required to remove this material uncertainty.

[whites123] 23/4/2020 08:35

Reduced debt.
Promise to reduce debt by more.

And... whats this.... Oil hedged at > $57 for 2020 and > $53 for 2021..

Last time oil was at $57 TLW was trading at 62p

So one could say ... where is the 62p now?
Then also factor in the asset sale...
Factor in the Uganda tax implications.
Factor in the new CEO
Factor in the promise of more sales to reduce debt.

Can anyone see the discrepancy?

Like I have said many a time... £1.00 all over it... Not today, maybe not tomorrow, but certainly its going to happen.

[smartie6] 23/4/2020 08:34

Orchestr, they haven’t strengthened the balance sheet they’ve sold an asset at a loss if anything a worse position. FFS where do you get these guys? Frightening that the uneducated are allowed to gamble on shares.

[smartie6] 23/4/2020 08:34

Orchestr, they haven’t strengthened the balance sheet they’ve sold an asset at a loss if anything a worse position. FFS where do you get these guys? Frightening that the uneducated are allowed to gamble on shares.

[datait] 23/4/2020 08:33

Im not selling the last time it went up over 80% after profit takers

[smartie6] 23/4/2020 08:33

Crushing this now. What an opportunity.

[whites123] 23/4/2020 08:33

Reduced debt.
Promise to reduce debt by more.

And... whats this.... Oil hedged at > $57 for 2020 and > $53 for 2021..

Last time oil was at $57 TLW was trading at 62p

So one could say ... where is the 62p now?
Then also factor in the asset sale...
Factor in the Uganda tax implications.
Factor in the new CEO
Factor in the promise of more sales to reduce debt.

Can anyone see the discrepancy?

Like I have said many a time... £1.00 all over it... Not today, maybe not tomorrow, but certainly its going to happen.

[orchestralis] 23/4/2020 08:32

Strengthening the balance sheet is prudent in these uncertain times.

[smartie6] 23/4/2020 08:31

I don’t need them there’s plenty selling now.
It’s fkd and you’re too stupid to know i. Lol.

[eodfire] 23/4/2020 08:31

Morning smartie. Blue day today? Enjoy the sunshine.

[xxnjr] 23/4/2020 08:31

Makes sense, although bit of a distressed asset sale, 42% pro-rata off the original deal. Total and probably CNOOC in due course have got a bargain.