Tullow Oil Share Discussion Threads

[casino444] 01/6/2022 08:48

It’s a lame duck at the moment seems just to be drifting between 50/60 with no dividend , maybe this is better news ?? I really don’t know

[mccracken227] 01/6/2022 08:44

Excuse ignorance but will more shares be issued and possibly diluted?

[orchestralis] 01/6/2022 08:40

Easy to say when it just turned red

[wolfofhounslow] 01/6/2022 08:35

Red now as expected

[janhar] 01/6/2022 08:03

Gets balance sheet in order, gives growth opportunities and possibility of dividends. Also enlarged company improves liquidity

[franky15] 01/6/2022 07:50

Good deal or not ? What do we think

[mirabeau] 01/6/2022 07:28

I bet TLW hive off their marginal assets to repay debt

[crazi] 01/6/2022 07:24

"The Tullow Board intends to address this issue by taking such steps, which may include a capital restructuring of the Tullow Group"

Keep your eye on that one...

[orchestralis] 01/6/2022 07:23

Or positive?

[officerdigby] 01/6/2022 07:23

I think this good news. But I'm a non holder. Long term could be very good

[orchestralis] 01/6/2022 07:21

Big drop coming?

[mmt1] 31/5/2022 16:11

what happened today?

[waldron] 31/5/2022 06:46

Oil prices jump after EU leaders agree to ban most Russian crude imports


Published Mon, May 30 202210:30 PM EDT

Updated An Hour Ago

Weizhen Tan
@weizent
cnbc


Key Points

Oil prices jumped after EU leaders reached an agreement late Monday to ban 90% of Russian crude by the end of the year.

The embargo is part of the European Union’s sixth sanctions package on Russia since it invaded Ukraine.




During Asia hours on Tuesday, U.S. crude futures for July were up 2.81% to $118.29, while Brent crude futures rose 0.93% to $122.80. Contracts for August also traded higher: U.S. crude rose 2.84% to $115.42, and Brent was up 1.17% to $118.98 per barrel.

[xxnjr] 30/5/2022 13:34

Well if Rahul were here he would probably say "Details Matter"!

[bootycall] 30/5/2022 11:43

@xxnjr
If only you knew….and I mean that seriously. I am prepared to give Rahul the benefit of the doubt…because he is at least executing on a plan to drill out 50 wells in Ten and Jubilee. The Company will argue that it has not decided exactly how that programme will be executed which is why they are leaving guidance based around a number achievable by 2025. IMO, this is a pathetic cop out…but I am not too concerned, since this farce will not continue for much longer as the new wells will start to be tied in… and surprise, surprise, massive production upgrades… I note Rahul is now starting to talk up the potential for Ten…which I have been talking about for ages. I am sure he wanted a new independent consultants report to verify everything before he committed to drilling there …which is fair enough. The HICOM arbitration was a shock for the Company but not settling on the “court steps” was an error in my view.
Part of the mismatch between wells drilled and production forecasts is that the Company does not build up an inventory of well stock and plans infrastructure in front of wells drilled. This is efficient cash management but is used as an excuse to not raise guidance based on a perfectly prudent outcome from a drilling programme on a mature field . Lets just agree to disagree on the minutiae…I appreciate what Rahul is doing …but IMO his production guidance for 2023 sucks ! Booty

[xxnjr] 30/5/2022 10:44

Bootycall - I wouldn't say Rahul has been indecisive. After all he did sign up to a 48 month continuous contract with Maersk for the Adventurer at a time when just about every other E&P were unwilling to commit to rigs. You are right on day rates which are heading for $400K/day. In that context the Adventurer seems something of a bargain at $253K/day average for the duration of the contract expiring April 2025. It might just be that a 2nd rig decision is on hold pending results of those 2 'strategic' wells on TEN. Or the decision got knocked sideways by that $76m Hitec Vision Norway arbitration award which is equivalent to 253 rig days at $300K/day. I reckon we'll get a lot more detail on the way forward with the next trading update or at 1st Half Results.

[bootycall] 30/5/2022 09:09

@subsurface You forget to mention the biggie….second rig commitment…likely to be agreed in coming months. It is scheduled (subject to partner approval) I believe , to start early 2023. Rahul has proved very indecisive, which will cost us much higher day rates to charter, but with very high cost recovery allowed for in the PSC, this will prove the game changer. IMO , so long as oil prices stay above $85 these shares should not trade less than £1.40 in twelve months time…. Booty

[subsurface] 30/5/2022 00:15

Does anyone have a link to the AGM video cast replay?

Extract from LSE Rahul

He also gave away that they are now targeting Gearing of 1.5 by sometime 2023. No hints on the farm out of the Kenya assets, but he was reassuring. He really wanted to dispel the idea that TEN is going to become ZERO, and instead spoke of the plan to get it up to 50Kboepd by 2025. The Ghabon assets seem to be performing well.

Seems a long time 2025!

[xxnjr] 29/5/2022 22:54

No probs thommie. Looks like rig is working in the south part of Enyenra. Could just be a work over, or a new producer well which could perhaps also include some kind of deeper exploration probe. We also have 2 tankers waiting to collect cargoes. One arrived on 26/5, other one this evening (both destinations were Jubilee). An OSV has just left Takoradi for Jubilee so I think they may start loading one of the tankers tomorrow. I reckon they will offload TEN first if tomorrow. But let's see.