Tullow Oil Share Discussion Threads

[fizzmiss] 16/2/2022 14:30

You have to laff ARF ARF ARF:

Looking at the charts, it's forming the perfect famous Brasnick Pulzipantsdown formation and heading for 45p

[fizzmiss] 16/2/2022 14:16

Watch out for the traditional share price fall at close, as to not get noticed day after day. This will be very lucky to end in the blue today.

[thommie] 16/2/2022 14:11

Lol. One day 76m out, one day 75m in. You couldnt make it up. After waiting for this FID payment since forever its value got canceled just the day before.Im more than surprised about tullows realised oil price of 86$\bbl post hedging!!! for january. As 42k are capped at 78$. How is this even possible? There had to be a big premium on brent to get to that average!? And take into mind, that the 5000-6000 bopd of the pre emption stake are not included in it, this part just melts million after million of the final asset price after adjustment for production since April 2021 every month. Or is it included?

[frankmcalorum] 16/2/2022 13:59

Fizzmiss NO ONE IMPRESSED WITH YOU!

Jog on and get a life...

[fizzmiss] 16/2/2022 13:52

Market not impressed, with Raul, the share price falls back on the news.

[xxnjr] 16/2/2022 13:18

$75m from Uganda FID received.

"..... supported by a strong start to the year with a realised average oil price (post hedging) of c.$86 per barrel in January."

[subsurface] 16/2/2022 12:32

We might get a weeks interest on it!

Any news on Tanker movements XX ?

[pollysmate] 16/2/2022 12:28

That pays for yesterday’s rns

[grupo] 16/2/2022 12:20

16 February 2022

TULLOW OIL PLC

contingent consideration RECEIVED following final investment decision in uganda

16 February 2022 - Tullow Oil ("Tullow") is pleased to announce that the Final Investment Decision for the Tilenga Project in Uganda and the East African Crude Oil Pipeline (EACOP) as reported by Total Energies Ltd ("Total") on 1 February 2022 has triggered a contingent consideration of $75 million in relation to Tullow's sale of its assets in Uganda to Total in 2020.


Tullow will continue to have exposure to the Tilenga Project through additional cash consideration which may be received in the form of contingent payments depending on the average annual Brent price once production commences.


Today's payment underpins Tullow's free cash flow in 2022, supported by a strong start to the year with a realised average oil price (post hedging) of c.$86 per barrel in January.

[grupo] 16/2/2022 12:18

Tullow Oil gets USD75 million after Uganda final investment decision

[crazi] 16/2/2022 08:48

Brent doing well at $93. If memory serves that's about $210,000 per day extra income...

[fizzmiss] 16/2/2022 08:40

So no appeal is allowed in a court of law?

Find that very hard to believe, every case can be appealed against.

[subsurface] 16/2/2022 08:32

Fizz

The Award is final and binding. Tullow will pay the Award from its current cash balances.

[thommie] 16/2/2022 08:02

Thx for your opinions. Very insightful. Anyway. It's another bump in the road. With 1 billion in cash at least there wont appear to be any influence to planned operations.

[waldron] 16/2/2022 06:40

European markets head for flat open as Russia-Ukraine fears subside; earnings in focus

Published Wed, Feb 16 20221:28 AM EST

Elliot Smith
@ElliotSmithCNBC


Key Points

Markets around the world rallied on Tuesday after Russia announced that it had begun returning some troops to deployment bases after training exercises near the Ukrainian border.

Heineken, Ahold Delhaize, Air Liquide, MTU Aero Engines and Alcon are among the companies reporting earnings before the bell on Wednesday.

[waldron] 16/2/2022 06:34

EMEA Morning Briefing: Stocks to Open Higher as Russia-Ukraine Tensions Ease

16/02/2022 5:50am

Dow Jones News




Wednesday 16 February 2022


MARKET WRAPS

Watch For:

UK producer prices; UK monthly inflation figures; UK House Price Index; EU Industrial Production; ECB Governing Council non-monetary policy meeting; updates from Clariant, Air Liquide, MTU Aero Engines; Heineken, Koninklijke Vopak, Ahold Delhaize.

Opening Call:

European stocks could open higher Wednesday as geopolitical tensions in Ukraine eased. U.S. stock futures were pointing to a lower open for major indexes. Dollar was steady in early trading. The yield on the 10-year Treasury was spotted at 2.032%. Oil priced edged lower. Gold was down.

Equities:

European stocks are set to open higher, lifted by hopes for a diplomatic solution instead of a Russian invasion of Ukraine.

But analysts warned the tensions were far from completely resolved, and the situation remains volatile.

"In short, provided we get a further pause in geopolitics, we might be able to focus on worrying data instead. But I would tread carefully on the assumption that we will be able to for long," RaboResearch said in a report.

Technology companies led a rebound on Wall Street, as investors welcomed signs that tensions might ease over the Russian military buildup on Ukraine's border.

The rally came as Russia announced that some units participating in military exercises around Ukraine would begin returning to their bases. Later in the day, Russian President Vladimir Putin said Moscow is ready for talks with the United States and NATO on military transparency and other security issues. Still, President Joe Biden said Tuesday that the U.S. had not yet verified Russia's claim of a troop drawdown.

"The anxiety retreated," said Sam Stovall, chief investment strategist at CFRA. "It looks as if there's still hope for a diplomatic solution."

Investors also have their eye on the latest round of corporate earnings, including DoorDash on Wednesday and Walmart on Thursday.

[bootycall] 15/2/2022 23:52

Thanks xxnjr….may i point out one thing in favour of the management at the time. Re seadrill/Kosmos debacle …Tullow and all its partners benefitted enormously from the early termination of the seadrill contract…including Kosmos….as rig rates collapsed with the oil price. The other partners to the license at the time did not take legal action over a technical contractual breach which had saved them a fortune…but almost wiped out Seadrill. Some might say that Kosmos was well within its rights to enforce the terms but some felt they were out of order in the circumstances to do so…since they had benefitted from the action. If Tullow had done the paperwork properly Kosmos might not have been able to get away with their action which may have soured relationships for many years…

I am led to believe that the financial ramifications of early termination of the Seadrill contract allowed Tullow to survive as a public company. What would you have done ?

[xxnjr] 15/2/2022 22:27

The timeline for the Wisting license was

13/02/2013 TLW entry into license recognised by NPD

17/09/2013 Well 7324/8-1 Wildcat: Oil Discovery


03/11/2013 Well 7324/7-1 S Wildcat: Oil Shows


06/07/2014 Well 7324/7-2 Appraisal: Oil discovery & successful DST


16/05/2015 Well 7324/8-2 Wildcat: Oil Shows


14/04/2016 Well 7324/7-3 S Appraisal: Oil discovery & successful DST


30/12/2016 TLW exit from license recognised by NPD

Only one appraisal well has subsequently been drilled following TLW's exit; also an oil discovery announced on 17/09/2017


Basically TLW became over-extended and couldn't handle the fall in the oil price at that time. Not an expert but I respect the verdict of the Norwegian Court, or authority, but agree given the split decision it was worth contesting. The fact TLW have lost 3 consecutive cases (Seadrill, Kosmos and now Hitec together totalling c.$380m) on the trot in reliable courts suggests TLW's understanding of contracts was perhaps not as sharp as it could have been back in the day. None of that is down to Rahul. He may have put the fire out but occasionally the odd ember re-ignites.

For reference, previous cases referred to

[fizzmiss] 15/2/2022 20:21

Another groundhog day

[fizzmiss] 15/2/2022 17:52

Even funnier, Raul rolled over and not appealed?

[thommie] 15/2/2022 17:43

Jeah Booty, dissapointing for sure. I think tullow themself didnt think they will lose it, as they never developed the field, as it was stamped as uncommercial. (I cant remember this field at all tbh...) Thats a very interesting opinion to make someone pay for a discovery, even if it is seen to be non commercial. Funny world :(

[janhar] 15/2/2022 17:35

Removes one of the unknowns- onwards and upwards