Tullow Oil Share Discussion Threads

[fizzmiss] 11/3/2022 08:25

More skulduggery with the share price, and with such blatancy.

[kulvinder] 11/3/2022 05:52

I can see the RNS for the two director buys only but not the business over not wanting to pursue TLW over the tax owed anymore.

[subsurface] 10/3/2022 23:04

They have Kulvinder look on LSE

[kulvinder] 10/3/2022 19:44

Should they have RNS'ed this then, as a bit of good news flow?

[fizzmiss] 10/3/2022 14:11

And back to the manipulated support of 52p as predicted.
Fantastic to see a director buy shares, does bring back some confidence.

[deanroberthunt] 10/3/2022 12:59

And £14 a share

[xxnjr] 10/3/2022 12:03

Life was so much easier back in the day. Rock up with a rig and drill a well ;-)

[subsurface] 10/3/2022 11:23

Quite a History to Block 12a XX Community problems and Environmental objections

The oil block intercepts key biodiversity hot spots

[ariane] 10/3/2022 11:17

subsurface
10 Mar '22 - 09:50 - 57121 of 57122
0 2 0
Kenya Tax News perhaps final confirmation
March 10th 2022

KRA withdraws Sh1.3 billion tax demand against Tullow Oil

KRA has withdrawn a case in which it was seeking Sh1.32 billion from Tullow Oil in taxes after the company sold an oil block in Kerio Valley in 2015.

The taxman in March 2019 demanded $11.7 million (Sh1.32 billion at current exchange rates) as value-added tax (VAT) from Tullow after the sale of block 12A to Delonex Energy.

Tullow then resisted KRA’s attempts to have it pay the money, arguing that it had not been VAT registered at the time of the sale and that the transaction was a sale of a capital asset.

KRA said the transaction constituted a supply of taxable services at the standard rate of 16 per cent. Its position was that oil exploration blocks are held as current assets.

[xxnjr] 10/3/2022 10:59

What a small world. Rahul was founder and CEO of Delonex and therefore the buyer of Kenya 12A.

p22 of yesterdays RNS

".....the KRA subsequently appealed the decision of the TAT to the High Court, but they withdrew that appeal on 19 July 2021. This matter can now be treated as closed."

[subsurface] 10/3/2022 09:50

Kenya Tax News perhaps final confirmation
March 10th 2022

KRA withdraws Sh1.3 billion tax demand against Tullow Oil

KRA has withdrawn a case in which it was seeking Sh1.32 billion from Tullow Oil in taxes after the company sold an oil block in Kerio Valley in 2015.

The taxman in March 2019 demanded $11.7 million (Sh1.32 billion at current exchange rates) as value-added tax (VAT) from Tullow after the sale of block 12A to Delonex Energy.

Tullow then resisted KRA’s attempts to have it pay the money, arguing that it had not been VAT registered at the time of the sale and that the transaction was a sale of a capital asset.

KRA said the transaction constituted a supply of taxable services at the standard rate of 16 per cent. Its position was that oil exploration blocks are held as current assets.


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[kulvinder] 10/3/2022 09:10

This game is not really for me, the ones in the know sold out on Tuesday at 63p, and lemons like me the so called LTH's with wishing I had done the same....as soon as open came on Wednesday morning the shorts came out

[badger36] 10/3/2022 09:01

I understood job of well paid management is grow value for shareholders?This is simply unacceptable albeit the pile left by previous goons who walked with a severance cheque

[dealy] 10/3/2022 08:24

There is a new normal in the markets: the share price of commodity producers is apparently no longer linked to the price of the commodity. We should have thought of that

[xxnjr] 10/3/2022 07:55

Bootycall - TEN. Yes that is what Rahul demonstrated in considerable detail on the call. The grey prospective resources on slide 23 bar chart referred to in the footnote, correspond in Rahul's own words "to a number of prospective resources you can see [on slide 22 illustration shaded] in grey in the western part of TEN map. These have been identified also for appraisal. So how does that translate into actual application and growth?" Answering his own Q Rahul talked about the bar chart on Slide 23, explaining where 'infill' and 'defined' projects would get us on the chart (looks about 45K). Adding the 'prospective' resources (obs in a success case) would mean "we can see a pathway getting us to 50K".

[wolfofhounslow] 10/3/2022 07:50

Raul should be sacked

[subsurface] 10/3/2022 07:47

CEO Constantly Evaluating Others might be better!

[ny boy] 10/3/2022 06:54

Fizz is, you could always put your name forward to be the next CEO 🤔

[bootycall] 10/3/2022 02:13

xxnjr Fair enough..he did say around the 31:30 mark that there “was a pathway to get to 50bopd , however the slide 23 you refer to , shows a baseline of 32kbopd with an arrow stating 9% CAGR which would equate to approx 45.17 kbopd for 2025. There is a tiny footnote at the bottom of the page saying CAGR rate excludes additional production growth from undefined prospective resources. I will make some more positive observations at a later date …but I need to sleep now . Booty

[wildsheroo] 09/3/2022 21:37

That's a long winded process and it will be an unholy battle to get everyone on board.

[subsurface] 09/3/2022 20:06

Oil Prices Crash By 11% As UAE Calls On OPEC To Open The Taps
By Julianne Geiger - Mar 09, 2022, 12:00 PM CST
UAE Ambassador to Washington says his country favours production increases and will encourage OPEC to consider higher production levels.
The UAE marks the first OPEC+ member to call for more production.
Brent crude has dropped more than $15 per barrel as traders have begun to take profits.
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In a complete oil industry turnaround, The UAE’s ambassador to Washington has said in a statement to the press that they “favour production increases and will be encouraging Opec to consider higher production levels.”

Yousef al-Otaiba’s statement, carried by the FT, comes as both the UAE and Saudi Arabia—two of the very few, if not the only, OPEC members that are believed to have spare capacity—have ducked calls from President Joe Biden to discuss the crisis that is brewing the oil markets after Russia invaded Ukraine, sending oil prices sky high.

OPEC managed to lift its production by 560,000 bpd in February, according to a new S&P Platts survey, but President Biden has repeatedly asked OPEC to increase its production to ease prices for the American consumer.

While the UAE and Saudi Arabia are the most likely candidates for having spare capacity that could be turned on on short notice, they are already producing to quota. Producing more would be a violation of the OPEC agreement—and more importantly, the OPEC+ agreement that it made with other countries, including Russia.

Neither Saudi Arabia nor the UAE is likely to do anything to upset this hard-fought alliance. But that doesn’t mean that they would be opposed to getting the rest of the group on board; not because President Biden attempted to ask again, but because oil prices are calling for it.

The hurdle, however, will be getting Russia—the largest non-OPEC member in the alliance—on board with this plan.

“The UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy,” al-Otaiba added.

The UAE marks the first OPEC+ member to call for more production.

In the meantime, Brent prices have crashed more than $15 per barrel as Ukraine's Zelenskiy says he's prepared for certain 'compromises'.

[waldron] 09/3/2022 19:58

Guyana a ‘near term catalyst’ for Tullow Oil

Bnamericas Published: Wednesday, March 09, 2022

Brent NYMEX Light Sweet Crude Shallow waters Oil sands Coalbed methane

Guyana a ‘near term catalyst’ for Tullow Oil

Tullow Oil’s 2022 plans include high impact exploratory work in Guyana as part of the company’s near-term growth catalysts.

The roadmap was part of chief executive Rahul Dhir’s 2021 results presentation on Wednesday.

In Guyana, the London-based junior holds a 60% interest in the Orinduik offshore block and a 37.5% stake in the neighboring Kanuku block.

Dhir said that the Beebei-Potaro well is due to spud on the Repsol-operated Kanuku license over the northern hemisphere summer.

The well is a follow-up to the Carapa light oil discovery made in 2020 and will target the Cretaceous light oil play.

In the region, Tullow also holds offshore acreage in Argentina: MLO-114 (40%), MLO-119 (40%) and MLO-122 (100%).

Following the completion of 3D seismic at MLO-114 and MLO-119 in 2021, this year’s work commitments include seismic acquisition at MLO-122.

[waldron] 09/3/2022 19:57

Guyana a ‘near term catalyst’ for Tullow Oil

Bnamericas Published: Wednesday, March 09, 2022

Brent NYMEX Light Sweet Crude Shallow waters Oil sands Coalbed methane

Guyana a ‘near term catalyst’ for Tullow Oil

Tullow Oil’s 2022 plans include high impact exploratory work in Guyana as part of the company’s near-term growth catalysts.

The roadmap was part of chief executive Rahul Dhir’s 2021 results presentation on Wednesday.

In Guyana, the London-based junior holds a 60% interest in the Orinduik offshore block and a 37.5% stake in the neighboring Kanuku block.

Dhir said that the Beebei-Potaro well is due to spud on the Repsol-operated Kanuku license over the northern hemisphere summer.

The well is a follow-up to the Carapa light oil discovery made in 2020 and will target the Cretaceous light oil play.

In the region, Tullow also holds offshore acreage in Argentina: MLO-114 (40%), MLO-119 (40%) and MLO-122 (100%).

Following the completion of 3D seismic at MLO-114 and MLO-119 in 2021, this year’s work commitments include seismic acquisition at MLO-122.