Tullow Oil Share Discussion Threads

[xxnjr] 27/7/2022 21:30

ref 57763

possible rig movement in Ghana. No longer appears to be in the N'tomme riser area drilling strategic wells (unless drilling unit has gone 'silent'). It may have moved to a new position 5.6kms N of the FPSO which is basically where Tweneboa Non-associated gas field was discovered back in 2009. Anonymous cyan dot has been fixed there for a few days now.....

New rig location is now 100% the case and confirmed. Whether the rig is re-entering the original gas discovery well, or perhaps more likely drilling a new gas appraisal well or possibly a new enyenra producer remains to be seen. I'll go with gas for now, based on rig location and an old Tullow map.

Guyana well. The 3 supply vessels have continued their toing and froing from Georgetown to the rig. 1 of the 3 is now on its way to Trinidad. Maybe picking up something, or being re-deployed to another assignment? We'll see. Kind of thinking the odds that well is nearly over, are at least 51%.

[subsurface] 27/7/2022 07:29

which you will then share with me !!555

you can read up

DRC picks star arbitrator for conflict with Dan Gertler's Caprikat and Foxwhelp.

and Dig Oil too

[djderry] 27/7/2022 07:22

I never thought of that subsurface.I've taken your advice and sent them the details.If they pursue it and are victorious,I presume I can expect 'an introducer's' fee.

[subsurface] 27/7/2022 06:23

Djderry,

Perhaps you could put it to Tullow IR

[djderry] 27/7/2022 03:32

Only a minor point but I don't understand why Tullow didn't use litigation finance in the dispute with the DRC.If the case was a meritorious one,it works on a non-recourse basis,ie the litigation financier takes all the risk and if no award is made,then the company does not need to pay the financier.Also,in certain circumstances,the financier (as in the case of the company I hold,Burford Capital)will provide asset tracing and enforcement capabilities,again on a non-recourse basis.( PS,I also hold shares in Tullow!).

[xxnjr] 26/7/2022 23:15

XOM are clearly in the sweet spot. Lucky them.

"hardly venus is it....." If only, martinfrench! Impact Oil and Gas (who are 30.1% owned by Africa Oil) are rumoured to be interested in selling their 20% of Venus for up to $1bn post the next appraisal program.

Thx for the Repsol "date for your diary" SS.

Elsewhere in the basin, CGX have sliced and diced themselves again to facilitate drilling of well 2 which is budgeted to cost up to $130m

[subsurface] 26/7/2022 22:53

Guyana: ExxonMobil makes two more discoveries offshore Guyana

The Seabob-1 well encountered approx. 131 feet (40 meters) of high-quality hydrocarbon-bearing sandstone and was drilled in 4,660 feet (1,421 meters) of water by the Stena Carron drill ship. The Kiru-Kiru-1 well encountered approx. 98 feet (30 meters) of high-quality hydrocarbon-bearing sandstone and was drilled by the Stena DrillMAX in 5,760 feet (1,756 meters) of water. Drilling operations at Kiru-Kiru are ongoing.

[martinfrench] 26/7/2022 19:36

thx xxjnr,

hardly venus is it but ok nfor now as i dont have many

[subsurface] 26/7/2022 19:18

Repsol have 2nd Quarter results presentation on the 28th July perhaps we will get a Guyana drilling update then.

[xxnjr] 26/7/2022 18:56

Wouldn't get your hopes up at this juncture mf. In the unlikely event a commercial find occurs then it's 37.5% of 150mbo. Perhaps more.

[martinfrench] 26/7/2022 14:06

only have a small amount in here, what is the target of latest drill (mb) and what is tullows percentage ?

thx in advance

[badger36] 26/7/2022 07:18

Nice. Something in the offing. Panic at the open to get cover

[kulvinder] 25/7/2022 15:47

Yes unreal we managed to keep our gain for once!!!

[alfiex] 25/7/2022 15:38

I stand corrected

[alfiex] 25/7/2022 13:34

Afternoon dip down now so predictable

[xxnjr] 25/7/2022 10:48

possible rig movement in Ghana. No longer appears to be in the N'tomme riser area drilling strategic wells (unless drilling unit has gone 'silent'). It may have moved to a new position 5.6kms N of the FPSO which is basically where Tweneboa Non-associated gas field was discovered back in 2009. Anonymous cyan dot has been fixed there for a few days now.....

[xxnjr] 24/7/2022 08:54

thanks for posting SS. c.$600m cash entirely plausible, as

CNE's Net Cash at Y/end was Cash $314m less Debt $181m = $133m net cash

Plus $1bn from India = $1.133bn net net cash.

Less completed Tender Offer for Shares (cost £384.5m x 1.3) = $500m

Net Net Net Cash = $633m

Less completed Share Buybacks
(cost £3.5m Jan to 4th Feb 2022) and (cost £18.8m April to date) = £22.3m x 1.25 = $28m

Net Net Net Net Cash = c.$600m

The $76m mentioned in the article was a contingent consideration paid on exceeding 2021 production/pricing thresholds following sale of their UKNS producing assets and should be received in 2022 1H. Similar bonus payments are likely for 2022 and 2023, partly offset by much smaller $25m bonus payments to Shell Egypt on an annualised basis for next 4 yrs based on Oil Price >$75.

TLW Net Debt y/end 2021 was $2131m
Let's say reducing to $1950m year end 2022

Less CNE's $600m = TLW $1.35bn pro-forma net debt. This would enable further deals to be done in West Africa as presume NewTullow will basically be an acquirer of mid-life assets, rather than a frontier explorer as in the past?

My only concern would be Egypt are running out of cash due to high grain and oil import prices which means we may not get paid on time for the gas we sell them.

[sarkasm] 24/7/2022 06:09

subsurface
23 Jul '22 - 23:42 - 57760 of 57760
0 0 0
interesting report posted on LSE

[subsurface] 23/7/2022 22:42

interesting report posted on LSE

[fizzmiss] 21/7/2022 14:18

Not whilst Captain Raul is in charge of the Tugboat, he needs to resign and take his toxic jinx away from the share price.

TLW share price was performing very well before he rode into town, even when TLW was on the verge of going bust, shocking oil price compared to now and as much bad news as you could muster being announced into the market.

Please resign Raul, the market simply does not like what you are doing with our company, all the proof is in the continuing appalling share price manipulated performance.

[kulvinder] 21/7/2022 14:14

Will the dates make any difference to the share price, i.e. up instead of down?

[subsurface] 21/7/2022 13:51

Hi XX,

Dates for the diary:

Kenya elections 9th August

Africa oil also report on 10th August .

[alfiex] 21/7/2022 08:15

Thanks xxnjr. Hope drilling has ended and await results. I think it could be a game changer either way here now.