Tullow Oil Share Discussion Threads

[kulvinder] 02/3/2021 15:58

At this price is TLW worth enough to be back in the 250?

[proj] 02/3/2021 12:45

BLUE. After being over 4% down an hour or two ago.

Tullow, you beauty!

When I saw it red earlier, that was ok.....people take profits and all that. But to reverse that so rapidly is such a strong sign.

Doubtless, some more shorters got out on that little blip.

Just shows how robust the turnaround is here.

GL all.

[chesty1] 02/3/2021 12:20

That is some jump!

Anyone interested in a minnow play looking to get big....XTR Folks!

This along with SNG/XTR having a great start to the year!

[kulvinder] 02/3/2021 12:18

RNS out at noon today about the sale.

[kulvinder] 02/3/2021 12:14

It when this share loses it relationship to the ups and downs of the hourly poo, and see this push higher will we know that people are interested in investing here.

[forcemode] 02/3/2021 11:35

Wow, what happened?!?!

[stampylong trader] 02/3/2021 10:48

The shorters are already in the queue in front at 7am that's probably why you can't buy here.

[crazi] 02/3/2021 10:44

Which Broker... I would guess the Halifax?

[aalli] 02/3/2021 10:43

Can't buy (only allowing negotiate trade) - surely that's good

[crazi] 02/3/2021 10:23

I'm out. Sold and banked the profits. Banked my BP holdings as well yesterday.

General media on Oil again hitting the negative sentiment. They change it when it suits them but at the moment it's all about China's reserves overflowing with no storage for more. China buying has kept the Brent price up while everyone else was in lockdown. Once economies start opening they will start buying again and level things out but that is still 2 months or so.

Texas Oil back up and running as well.

So both accounts has Brent down $3 over the past few days.

OPEC+ this week so I am going to sit on the fence and see what they do first...

Great run though from 34 to 47! Well done Tullow. ODEY's blood pressure climbing again :-)

[waldron] 02/3/2021 06:58

European markets head for lower open, in retreat mode after Monday's rally

Published Tue, Mar 2 20211:05 AM EST

Holly Ellyatt
@HollyEllyatt


Key Points

European stocks are expected to open in negative territory on Tuesday, retreating from gains made in the previous trading session.

London's FTSE is seen opening 21 points lower at 6,558, Germany's DAX down 55 points at 13,943, France's CAC 40 down 16 points at 5,777 and Italy's FTSE MIB 81 points lower at 23,170, according to IG.

[proj] 01/3/2021 18:23

Another steady 3% rise. Lovely.

Looking forward to the fireworks when the penny drops with the remaining shorts.. That surely can't be too far away, considering all the pennies they've dropped - ouch!.

GL all.

[dbensimon] 01/3/2021 17:54

Big day the 10th of March.

[waldron] 01/3/2021 17:32

A GOOD START TO THE MONTH


TULLOW OIL PLC (TLW)


Delayed Quote. Delayed London Stock Exchange - 03/01 04:35:15 pm

45.32 GBX +3.19%

[waldron] 01/3/2021 17:30

Tullow Oil plc is pleased to provide an update on the redetermination of its Reserves Based Lending facility ('RBL').

Over the past few weeks, Tullow has been reviewing its business plan and operating strategy with lending banks within its RBL and their financial advisers, as well as with the financial advisers of the 2021 convertible bond holders and the 2022 bond holders. This plan is expected to generate material cash flow, which will enable reduction of the Group's current debt levels and creates the foundation to address near-term debt maturities.

Completion of the Uganda transaction in 2020, the recent announcement of asset sales to Panoro Energy, exploration portfolio rationalisation and material cost savings, will enable the Group to deliver in excess of US$1 billion of self-help over two years. This, along with strong operational performance in Ghana and higher commodity prices, is providing positive impetus to constructive discussions with creditors with regards to Tullow's debt refinancing options. The Group is confident that a mutually satisfactory agreement for all stakeholders can be reached in the first half of the year.

As part of this process, Tullow and its technical banks have agreed a new debt capacity amount under the RBL facility of c. US$1.7 billion; this remains subject to formal approval by a majority of lending banks and, once approved, will be effective from 26 February. The debt capacity reduction from c. US$1.8 billion based on the September 2020 redetermination reflects the effects of six months of production and the removal of the Equatorial Guinea and Dussafu assets as a result of their sale to Panoro Energy. Based on the new debt capacity amount, Tullow will have liquidity headroom of free cash and available debt facilities of c. US$0.9 billion. The next RBL redetermination is scheduled to take place in September 2021.

Tullow will provide a further update at its Full Year results on 10 March 2021

Contact:

Tel: [phone])

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 70 exploration and production licences across 14 countries in Africa and South America.

[knowing] 01/3/2021 16:54

Feb 28, 2021
Irish explorer Tullow Oil has sold out of Uganda, Gabon and Equatorial Guinea in the last one year.

The entire proceeds from these asset sales do not come near a billion dollars, so do not make a dent in Tullow’s debt.

Ghana is where the money is, not by selling assets, but by investing over a period of time, making gains and creating more value.

The company “has mapped out a strategy and plan which focuses on the substantial potential within its large resource base, associated with its producing assets where there is extensive infrastructure in place”.

That large resource base is Tullow’s Ghanaian acreage, where the company has produced just over 400Million barrels of oil (gross) from 2.9Billion barrels of oil in place (c.14%). This plan, alongside a rigorous focus on costs, is expected to generate material cash flow over the next decade, which the Group anticipates will enable reduction of its current debt levels and deliver significant value for its host nations and investors.

The new plan will deliver production growth in the medium term and the ability to sustain production over the longer term. The first phase of investment will start in the second quarter of 2021 with the commencement of a multi-well drilling programme in Ghana.

Assuming an oil price of $45 per barrel in 2021 and $55 per barrel flat nominal from 2022 onwards, and with over 90% of future capital expenditure focused on the Group’s West African producing assets, which is mostly in Ghana, Tullow forecasts it will generate c. $7Billion of operating cashflow over the next 10 years. After capital investment of c. $2.7Billion, there will be c.$4Billion cash flow available for debt service and shareholder returns which Tullow will initially apply towards reducing gearing to 1-2x net debt / EBITDAX while retaining appropriate liquidity.

[kulvinder] 01/3/2021 16:07

Looks like 45p is the new 34p....finding it hard to crack.

[mccracken227] 01/3/2021 15:01

Struggling to get past 45p

[crazi] 01/3/2021 12:10

OPEC+ meeting this week. Output expected to rise for the first time. Hope not too much!

Great FTSE day but the share price seems to have run out of steam. Less day traders today maybe.