Tullow Oil Share Discussion Threads

[mcsean2164] 05/6/2020 11:57

sif12,

Didn't they just raise $25.6 billion from Aramco.



This talk of the end of the world for the Saudi's... they are pretty well positioned with respect to a lot of other coutries.

In 2018 Saudi Arabia public debt was 126,348 million euros 149,217 million dollars, has increased 31,015 million since 2017. This amount means that the debt in 2018 reached 18.98% of Saudi Arabia GDP, a 1.82 percentage point rise from 2017, when it was 17.16% of GDP

Compare that with the UK

At the end of the financial year ending March 2019, UK general government gross debt was £1,821.3 billion, equivalent to 85.2% of gross domestic product

[bearnecessities] 05/6/2020 11:43

Trying it's best to stay above the 28p. Hopefully this afternoon's action will push us well inside the 28-29p range.

[leoneobull] 05/6/2020 11:36

Psychology. One this gets beyond 30p, my view is it will push on very quickly to 40p...

[cool hand kev] 05/6/2020 10:47

Thanks Guys for you input :-)
I shall sit and wait

[sif12] 05/6/2020 10:36

whites, i think the Macro picture is the most important one here.

Saudi gov budgets are totally 5ucked. they make money at even $10 oil, but their budget is balanced on a very high price of oil. They reduced their estimate end of 2019 for 2020 but still budgeted for oil at over $60!! This together with oil production cuts is really squeezing them.

theyve had to cut back on all the public funding theyve been dolling out for years, have cut transformation and infrastructure programmes.. they are right up against it.

Russia similiar although gas is still good for them.

OPEC meeting now scheduled for tomorrow.. it will continue cuts until at least July.. and that will push oil to £50..

TLW will get an initial jump,Monday and Tuesday which get the share price to 40p+ but if oil approaches $60 thats when ths short squeeze happens.. nice gap..80p to 130p ish.

[whites123] 05/6/2020 10:06

The short squeeze will come.
When it does it has the potential to fire this way above 50p, 75p, £1.00 with relative ease.

Unlike PMO, TLW does not have any intentions to raise capital with a share issue.

Shorts will HAVE to close on open market.

Traders (The in out in out shake it all about brigade) will assist if they arrive in numbers as it will create instability.

But for those buying real shares (NOT spread bets or CFD's) remove available stock until they decide to sell.

The oil price will bounce and I guess (I hope) we see more short exposure as they try to cap gains being made on POO and TLW.

Its a guess, but my guess will be that we will not really see any kind of rush to close out until TLW is 40p and above and POO is $50 and above.

A short squeeze needs momentum and momentum comes from the humble PI when they start gathering open market shares.

Upward momentum is a lot more difficult to maintain than downward momentum.
Downward is fueled by fear and a desire to "Lock in profits", upward momentum also carries fear as people worry... what if it drops now, then i lose my profit.
Investors however have done their homework and happy to sit back switch off and relax.. :-)

[proj] 05/6/2020 09:37

volsung, I take it you are a top comedy writer for TV?

[sbb1x] 05/6/2020 09:19

Anyone know PMO bpd once new deal goes though?

[spirito] 05/6/2020 09:14

They'll prob increase

[cool hand kev] 05/6/2020 09:09

SHORTERS Have to close soon IMO

[bearnecessities] 05/6/2020 09:09

Ignore what I said earlier about a steady rise. Go on my son!

[eodfire] 05/6/2020 09:08

Starting to move now. Oil up. 30p plus soon.

[volsung] 05/6/2020 09:08

I take it you voted ‘leave’ proj?

[spirito] 05/6/2020 09:07

This going crazy

[proj] 05/6/2020 09:06

Leonebull, Remain? You moaners lost 4 votes - all directly linked to EU membership!

Now you Remoaners are all frantically trying to bring our country down - just to prove you were "right". I see why people like you have a hard-on for the EU....they ignore democracy also.

You precious EU handled COVID so brilliantly, didn't they? Oh wait, they "don't get involved in stuff like health"......just the "important" stuff like fleecing those countries who have a bit of money, and destroying poor nations who can't afford it.

Despite the crooked BBC, Sky, BOW Governor, and EVERYONE else, we voted out. What does that tell you, genius???

[cool hand kev] 05/6/2020 08:27

Hopefully Break out Day :-)

[bearnecessities] 05/6/2020 08:12

27p hit briefly. Hopefully we close as close to that or above. Steady Eddy is the way to go.

[leoneobull] 05/6/2020 08:11

Asa by name, ASA by nature?

[mcbull] 05/6/2020 08:05

POO now $40 plus........should be a good day here.

[leoneobull] 05/6/2020 07:18

Great news from PMo, shows what a great deal TLW got Premier Oil PLC05 June 2020Premier Oil plc("Premier" or "the Group" or "the Company")Proposed revised terms for the BP acquisitions and agreements with creditors5 June 2020Highlights -- Amended terms for the acquisition of the Andrew Area and Shearwater assets (together, the "BP Acquisitions") agreed in principle o Cash payable at completion reduced to $210 milliono Estimated revised abandonment obligations reduced to c.$240 million (pre-tax) from c.$600 million (pre-tax)-- Principal terms being discussed with a subset of Premier's creditors to waive the Group's financial covenants through to 30 September and to provide continued access to its revolving credit facilities ("Stable Platform Agreement"); once agreed and finalised, the terms will be put to the wider creditor group for approval -- Settlement agreed with ARCM, the Group's largest creditor, under which: o ARCM will withdraw its appeal of the Court's judgment approving the Schemeso ARCM have undertaken to support the BP Acquisitions and the Stable Platform Agreement through the lender consent processo Premier will issue 82.2 million new shares, representing 8.91 per cent of the enlarged Group, to ARCM at a price of 26.69p/sh, a 9.64 per cent discount to the volume weighted average price over the last five days; the proceeds from which will be used to fund part of the proposed BP acquisitionsTony Durrant, CEO, commented:"We are pleased to have agreed revised terms with BP for the proposed acquisition of the Andrew Area and Shearwater assets, which are materially value accretive for the Company. The Stable Platform Agreement, once agreed with and approved by lenders, will provide a basis for the Company to continue discussions regarding proposed amendments to the Group's existing credit facilities."