Tullow Oil Share Discussion Threads

[adrian j boris] 09/3/2022 17:40

dealy
9 Mar '22 - 17:36 - 57106 of 57107
0 0 0
Well I hope they hedged some production this week at 125


One might presume so, it apparently being one of the the clauses as to their contracts regarding borrowings

[fizzmiss] 09/3/2022 17:36

Exactly Kulv, so where is the keyboard worrier idiot, and why is he not spending his time chasing up the FSA and Raul and finding out how they can manipulate the share price with ease.?

[dealy] 09/3/2022 17:36

Well I hope they hedged some production this week at 125

[adrian j boris] 09/3/2022 17:32

you know that fizz, its been told you so many times


December 2020 ends at 29.58p

December 2021 ends at 46.45p

January 2022 ends at 49.84p

February 2022 ends at 53.74p

[fizzmiss] 09/3/2022 17:31

From what to what, since he arrived?

Tell me, what deal has he done that's been of any use to improve the share price?

Raul is probably a luvly chap, but IMHO not a good CEO for Us who employ him.

[adrian j boris] 09/3/2022 17:30

fizz

The share price has risen nicely for starters

[adrian j boris] 09/3/2022 17:03

Price (GBX)
51.88 -16.65% (-10.36)

Open / Last close
63.34 / 51.88

High / Low
63.52 / 50.16

Bid / Offer
52.70 / 52.92

Special Condition: -
Trading Status: Post-Close
FTSE All-Share
As at 09.03.22 16:46:29 - All data delayed at least 15 minutes

[adrian j boris] 09/3/2022 17:02

Price (GBX)
51.88 -16.65% (-10.36)

Open / Last close
63.34 / 51.88

High / Low
63.52 / 50.16

Bid / Offer
52.70 / 52.92

Special Condition: -
Trading Status: Post-Close
FTSE All-Share
As at 09.03.22 16:46:29 - All data delayed at least 15 minutes

[megsta] 09/3/2022 16:29

Oh well, it looks like I'll be holding these for a while longer to get a decent return on investment.

[adrian j boris] 09/3/2022 16:13

IRISH EXAMINER



Wed, 09 Mar, 2022 - 16:04
Geoff Percival

Tullow Oil has reported a huge drop in its annual losses and a decline in its net debt levels, whilst also saying production levels at its core offshore oil-producing assets in western Africa could surge in the next few years, but its shares still tumbled.

The Irish-founded and Africa-focused oil and gas company said it made an after-tax loss of $81m (€74.3m) last year, down from a loss of over $1.2bn in 2020.

Gross profit jumped from $403m to $634m, but total revenue was down from just under $1.4bn to $1.27bn.

Tullow said it closed last year with net debt of just over $2.1bn. That was down from the near $2.4bn in debt it held at the end of 2020.

"Following a transformational 2021, in which Tullow successfully refinanced its balance sheet, drilled highly productive wells in Ghana and demonstrated operational excellence and financial discipline across the group, we are now concentrating on the successful delivery of our long-term business plan," said Tullow's chief executive Rahul Dhir.

"This year will see a great deal of activity at our flagship Jubilee field with investment in new infrastructure and new wells to grow production in the near term."

"I also expect us to make tangible progress towards our ambitious target of achieving net-zero by 2030," Mr Dhir said.

Ghana investment

Tullow’s CEO said its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boepd) and the TEN field 50,000 boepd by 2025 under current spending plans.

Tullow will spend most of its $350m investment programme this year on Ghana, where Jubilee produced around 75,000 boepd in 2021 and TEN 33,000 boepd. Tullow holds a 35.5% stake in Jubilee and 47.2% of TEN.

The company reported 2021 free cash flow of $245m, about 43% down from the previous year and broadly in line with guidance of $250m, and reiterated its free cash flow would reach $100m at an oil price of $75 a barrel.

Oil prices have soared in recent months, with current benchmark contracts at around $130 a barrel, but Tullow hedges most of its output with price floors and ceilings to shield against price volatility.

In 2021, Tullow lost out on $153m in revenue due to hedges. Tullow is forecasting this year's overall output to reach 55,000 to 61,000 boepd.

Of this, it hedged 42,500 bpd at an average floor of $51 a barrel and average ceiling of $78 a barrel and around 33,100 bpd of next year's output at $55 and $75 a barrel, with smaller production volumes hedged into 2024.

[adrian j boris] 09/3/2022 16:12

IRISH EXAMINER



Wed, 09 Mar, 2022 - 16:04
Geoff Percival

Tullow Oil has reported a huge drop in its annual losses and a decline in its net debt levels, whilst also saying production levels at its core offshore oil-producing assets in western Africa could surge in the next few years, but its shares still tumbled.

The Irish-founded and Africa-focused oil and gas company said it made an after-tax loss of $81m (€74.3m) last year, down from a loss of over $1.2bn in 2020.

Gross profit jumped from $403m to $634m, but total revenue was down from just under $1.4bn to $1.27bn.

Tullow said it closed last year with net debt of just over $2.1bn. That was down from the near $2.4bn in debt it held at the end of 2020.

"Following a transformational 2021, in which Tullow successfully refinanced its balance sheet, drilled highly productive wells in Ghana and demonstrated operational excellence and financial discipline across the group, we are now concentrating on the successful delivery of our long-term business plan," said Tullow's chief executive Rahul Dhir.

"This year will see a great deal of activity at our flagship Jubilee field with investment in new infrastructure and new wells to grow production in the near term."

"I also expect us to make tangible progress towards our ambitious target of achieving net-zero by 2030," Mr Dhir said.

Ghana investment

Tullow’s CEO said its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boepd) and the TEN field 50,000 boepd by 2025 under current spending plans.

Tullow will spend most of its $350m investment programme this year on Ghana, where Jubilee produced around 75,000 boepd in 2021 and TEN 33,000 boepd. Tullow holds a 35.5% stake in Jubilee and 47.2% of TEN.

The company reported 2021 free cash flow of $245m, about 43% down from the previous year and broadly in line with guidance of $250m, and reiterated its free cash flow would reach $100m at an oil price of $75 a barrel.

Oil prices have soared in recent months, with current benchmark contracts at around $130 a barrel, but Tullow hedges most of its output with price floors and ceilings to shield against price volatility.

In 2021, Tullow lost out on $153m in revenue due to hedges. Tullow is forecasting this year's overall output to reach 55,000 to 61,000 boepd.

Of this, it hedged 42,500 bpd at an average floor of $51 a barrel and average ceiling of $78 a barrel and around 33,100 bpd of next year's output at $55 and $75 a barrel, with smaller production volumes hedged into 2024.

[crazi] 09/3/2022 16:08

I'm expecting a few profit takers now from lunchtime buys but I reckon at around -13% discount --- tomorrow morning may see some good market pre-orders...

[adrian j boris] 09/3/2022 15:46

It should be interesting as to TULLOWS response regarding this issue


Proj
9 Mar '22 - 15:38 - 57095 of 57095
0 1 0
Adrian, I appreciate your point - and the politeness with which you made it.

But I will be contacting the company. ADFVN are not legally culpable, BTW, so will have no problem with releasing this individual's details when requested, I'm sure.

All the best to you. Over and out on this subject.


MIGHT SCARE THE POSTER IN QUESTION TO CEASE POSTER

[proj] 09/3/2022 15:38

Adrian, I appreciate your point - and the politeness with which you made it.

But I will be contacting the company. ADFVN are not legally culpable, BTW, so will have no problem with releasing this individual's details when requested, I'm sure.

All the best to you. Over and out on this subject.

[adrian j boris] 09/3/2022 15:34

Proj

no one really reads these BBs and i expect if truth be known they have little impact on the share price movements

Think again, i would advise again not going beyond Advfn and against an infantile limited poster who is
no doubt filtered by the many

of course you are free to do what ever takes your fancy

You obviously know presently this is a trading share, a shorters and market makers dream so slagging or praising has little consequence

Proj
9 Mar '22 - 15:03 - 57090 of 57091

[proj] 09/3/2022 15:30

PS. my apologies to people on this message board for this diversion.

I will not respond to any more comments on the above matter, so as to not further deflect the focus of this message board (or muddy the legal waters, so to speak).

Anyway, great to see the climb back.....it's a crazy drop that must have caught a fair few stop-losses and weaker holders out.

[crazi] 09/3/2022 15:27

-13% is still crazy. They will likely turn profitable by the end of the 1st quarter with current oil prices based on the % not hedged.

it is surprising he doesn't say that the 2025 forecast is 150,000 BOE in the meeting. That's nearly 3x current. But I have noticed he likes to chat more with the press and gives out more details. It's almost like he likes to keep the official forecasts low so they are easier to beat but tells the press their real targets.

[mcsean2164] 09/3/2022 15:22

Thanks for update booty, sorry I missed the call. 100k by 2025 sounds great 👍

[proj] 09/3/2022 15:03

Adrian, this goes way beyond housekeeping or manners on a message board.

As I said, companies (especially on AIM) cannot afford for downright lies and falsehoods to be wantonly spewed out.

ADFVN will be legally obliged to surrender any individual's details, if requested by a third party's legal team.

The screenshots are taken, and I'll compose a message for the company (TLW) this evening when I have time.

BTW, you say I am the one who has 'overstepped the mark'?? That is ironic, to say the least.

[bootycall] 09/3/2022 15:02

Just watch the about turn in the share price .