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TLW Tullow Oil Plc

21.30
-2.66 (-11.10%)
Last Updated: 15:51:11
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tullow Oil Plc LSE:TLW London Ordinary Share GB0001500809 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.66 -11.10% 21.30 21.28 21.32 22.82 21.04 22.82 9,403,109 15:51:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 1.63B -109.6M -0.0752 -2.85 349.4M
Tullow Oil Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TLW. The last closing price for Tullow Oil was 23.96p. Over the last year, Tullow Oil shares have traded in a share price range of 20.00p to 40.32p.

Tullow Oil currently has 1,458,261,760 shares in issue. The market capitalisation of Tullow Oil is £349.40 million. Tullow Oil has a price to earnings ratio (PE ratio) of -2.85.

Tullow Oil Share Discussion Threads

Showing 66901 to 66924 of 69850 messages
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DateSubjectAuthorDiscuss
16/11/2022
09:00
rté



Tullow Oil narrows production forecast range
Updated / Wednesday, 16 Nov 2022 08:11

The West Africa-focused oil producer is trying to bring down costs after two strategic wells returned disappointing results

Tullow Oil narrowed its annual production forecast range and cut capital investment expenditure estimate today.

This comes as the West Africa-focused oil producer attempts to bring down costs after two strategic wells returned disappointing results.

The company now expects its full-year production to be between 61,000 and 62,000 barrels of oil equivalent per day.

Its forecast for 2022 capital investment was reduced to about $360m, while free cash flow forecast was raised to $250m.

Tullow's plans to merger with Capricorn Energy were foiled in September when Israel's NewMed swooped in.

It said a number of "strategic and operational initiatives" were going on and they were expected to evolve in the coming months.

The company decided to push back its capital markets update to 2023 until it has an update on its strategy and outlook for investors, it said.

florenceorbis
16/11/2022
08:39
XXn you truly are a nasty piece of work and a cry baby at that grow up.

My concerns posted yesterday has proven to be factual nothing more than kick the can down the road from Rahul with more duster drills and nothing about Kenya.

Remind us all, what has he actually done since he arrived at TLW?

lyreco1
16/11/2022
03:08
Africa oil Q3"I think there is a good chance that we will have an announcement of our partnership before the end of the year." In the presentation. -Keith Hill Africa Oil CEONo mention of Kenya when talking about high impact catalysts or anywhere else in the press release. In the Q report, one paragraph about kenya at the bottom reads that advanced discussions are ongoing with interested parties. A successful farmout is critical towards Fid over the next year. There is no guarantee the company can be successful on favorable terms. Q2Kenya is mentioned as a catalyst on the press release I'm the Q report, Kenya is mentioned as a catalyst. The Kenya paragraph from Q3 is copied, but is placed above the other exploration projects. Q1Kenya is not mentioned in press release. Kenya paragraph is last. The end of the year is 45 days away. I find it interesting he would use that language "by the end of the year" in the q3 presentation
buhdonkatonk
15/11/2022
23:17
".....The Vice President further mentioned that the government will be keenly looking forward to the realization of Tullow’s investment decisions on ongoing projects including the execution of post-foundation commercial gas agreements, exploration interests, and other projects being considered by Tullow and its partners in Ghana....."
xxnjr
15/11/2022
22:53
lyreco1 15 Nov '22 - 20:22 - 58202 of 58203
0 0 0
Dreading tomorrow
===========================

It seems a certain poster's posts have fizzled out on the Block Energy and Tullow Oil boards. At the same time a new moniker turns up trashing both companies.

Conclusion: Maybe Fizz = ly-re? Who knows? LoL!

xxnjr
15/11/2022
21:44
Keith Hill on the 3Q webcast. "Keep your eyes on the press. There's a good chance there will be an announcement on Kenya partnering before year end". But as he also said; it's one of those 'believe it when you see it' situations.
xxnjr
15/11/2022
20:22
Dreading tomorrow
lyreco1
15/11/2022
16:18
I don't expect that Kenya will be farmed out before 2025. The Chinese and Indians are getting their oil from Russia now on favorable terms. The only other place I see the money coming from is the majors, and they aren't expanding due to esg.
buhdonkatonk
15/11/2022
09:26
Agree FID delay shows it was a pragmatic decision to sell out of Uganda in hindsight.

Here's another Ex-Tullow discovery from 2013 which was flogged off as TLW ran out of cash just shunted back into the sidings.

"Equinor and its partners have pushed back by up to four years the final investment decision for the deep-water Wisting oilfield development offshore Norway after predicted costs spiralled by some 60%, just weeks after stating that there were no technical or environmental hurdles to the project being sanctioned in December.

On Thursday the Norwegian operator said that the Wisting co-venturers are now continuing to mature the project and are now aiming for an investment “by end of 2026”.

The envisaged escalating costs – the updated capital expenditure is Nkr104 billion..."

===============================

On Kenya Africa Oil's Q3's basically regurgitate previous comments

"In 2021, the Company and its partners initiated a farmout process for Project Oil Kenya. Advanced discussions are on-going with the interested parties. A successful farmout is viewed by the Company as a critical step towards the FID for Project Oil Kenya being achieved over the course of the next year. There is no guarantee that the Company can successfully conclude a farmout to new strategic partner(s) on favorable terms."

xxnjr
15/11/2022
09:12
Uganda was a ball and chain for Tullow and Kenya becoming one, just get rid and move on.
alfiex
15/11/2022
09:06
Sometimes (like in uganda) it's better to just leave the place and take whatever you can get for it. If tullow would exit kenya completely and could get a similar amount for it like in uganda I would be very glad. You not only avoid any problems in cost that will come with any project development (I mean higher cost than anticipated) but as well any possible production problems that could occur, paying higher interest rates for the next 4-5 years for the amount of money not paid off the current debt burdon while waiting for first production, problems with the corrupt government which could delay the project even further and any other things that can come with laying pipelines like in uganda...Searching for oil in uganda and kenya was in hindsight nothing else than burning money. It doesnt get better to go on burning your money just because you already lost billions. Sometimes it's better to correct you past mistakes and carry on.The anticipated net debt end of this year is expected to be around 1,9b. If tlw would be able to exit kenya completely and get around 500m$ for it this would shrink to only 1,4b, lowering the anual interest payments over the years by around 60m$! That would lead to additional debt repayments of around 300m because of saved interest rates in the next 5 years when first production of a possible development in kenya might be starting...Just imagine...
thommie
15/11/2022
08:52
TotalEnergies faces rising religious opposition to EACOP project

The pipeline that TotalEnergies and CNOOC plan to build between Uganda and Tanzania is under fire from influential east African and French religious leaders. Their protests have forced the French major to try and justify the project publicly.

10/11/2022
Africa Intel

billy_buffin
15/11/2022
08:28
Dont like the last sentence about favourable terms.Taken from Africa oils results...partners initiated a farmout process for Project Oil Kenya. Advanced discussions are on-going with the interested parties. A successful farmout is viewed by the Company as a critical step towards the FID for Project Oil Kenya being achieved over the course of the next year. There is no guarantee that the Company can successfully conclude a farmout to new strategic partner(s) on favorable terms.
alfiex
13/11/2022
21:21
Posted Adieuk32 on the LSE BB;Adieuk32Posts: 1,906Price: 48.66Strong BuyHISTORIC ~~~~BOPD ~~~ DEBT ~~~POO ~~~ MARKET CAPToday 19:462015. 73,400BOPD. Debt $4Billion. share price £3.50 POO $37 Market Cap 5 Billion2016. 71,700BOPD. Debt $4.8Billion. share price £1.60 POO $56 Market Cap 2.5 Billion2017. 94,700BOPD. Debt $3.5Billion share price £2.60 POO $66 Market Cap 3.5 Billion2018. 90,000BOPD. Debt $3.1Billion share price £2.30 POO $54 Market Cap 3 Billion2019. 86,700BOPD. Debt $2.8Billion share price £2.00 POO $67 Market Cap 2.5 Billion2020. 74,900BOPD. Debt $2.4Billion share price £0.60p POO $50 Market Cap 800 Million2021. 59,200BOPD. Debt $2.1Billion share price £0.30p POO $77 Market Cap 400 Million2022. 63,000BOPD. Debt$1.9Billion share price £0.48p POO $95 Market Cap 700 MillionStill think we are fairly priced??Way undervalued, lets see what the next few weeks bring.GL ALL
kulvinder
11/11/2022
04:06
Africa Oil reports Monday After close, and CC is on Tuesday morning at 9 Eastern time(2PM gmt). They normally don't say much about Kenya, but they may give slightly more color than Rahul.
buhdonkatonk
10/11/2022
18:07
Ah! thanks bootycall. Well spotted. And there's a trading update next wed 16th/Nov.
xxnjr
10/11/2022
14:36
@xxnjr its the 7th December.

The CC for Kosmos clearly stated that the two strategic wells drilled were attempting to define the aerial extent of potentially “new reserves” not the reserves booked to date. I would not jump to conclusions in advance of the CMD. It might be fair to describe the last two wells as disappointing at those precise locations relative to pre drill expectations…but not to opine on how production will ramp up on for the rest of the acreage. If you look at the drilling history of the TEN field you will see that there is a stratigraphic play. Past wells encountering thin sands have subsequently deviated into sections of up to 600 metres of pay. It is important that Tullow grade prospects according to their return on capital…if Rahul cannot describe his plans coherently after over two and a half years at the helm…he should be sacked as CEO. I think he is good at sweating production assets but,IMO,he is poor at providing proper production guidance to markets. He simply does not have the luxury of sitting back…his failure to communicate has allowed bond investors to misconstrue forward free cash flow resulting in mispriced redemption yields on our debt. We are a sitting target for a takeover. Perception will change completely if they close a proper deal with a Kenya farminee. Booty

bootycall
08/11/2022
14:30
mcs - possibly is reason for today's decline.

Another Q was along the lines of; given the N'tomme riser wells seem to be at lower end of expectations where do we go from here on Greater N'tomme? I may have to listen again but the answer was kind of like; well we chose to not put those wells on production but results were useful in calibrating seismic but we are in dialog with the operator regarding some sort of potential tweneboa/N'tomme development that will comprise both gas and oil and compete for capital with our other FID's. Somebody else as a follow on then asked the Q above in 58189.

My takeaway FWIW is the T and N bits of TEN aren't quite as promising as Tullow were suggesting earlier in the year. Drill bit always the final arbiter. I guess it means TEN is more of a plodder, not an exciting growth project. But we need to hear this (or a more positive message) from the operator (Tullow). Last year there was a trading update on 17/Nov.....

Has the Capital Markets Day been canned? Haven't a clue!

xxnjr
08/11/2022
13:57
Is that the reason for the decline today?
mcsean2164
07/11/2022
23:51
One Q to Kosmos was along the lines of; How much of the 50% production growth KOS are forecasting over the next few years is down to Ghana Gas (as opposed to Jubilee South East and Mauritania-Senegal gas)? The answer was not much.
xxnjr
07/11/2022
19:24
The conference call didn't really give any new information on Ghana.
buhdonkatonk
07/11/2022
08:00
oooops! my normally reliable spreadsheet had a prediction error on TEN. Apologies. Jubilee came in as expected. Sounds like EN-21P already disappointing and 2nd riser well a dud. TEN upside not as good as they thought "optimize the future drilling plans for TEN, with a focus on proven accumulations and areas with existing well control"?

edit. Have now had 2 cups of tea and about 70% awake. The 22.2K bopd was Q3 average. What they haven't told us is the initial and 'choked back' production rates for the new well. TEN cargo intervals have been getting a bit erratic recently (40, 44, 40, 48, 45 and then 31, 52, 26 days) which makes interpretation less reliable.

xxnjr
07/11/2022
07:03
GhanaProduction in Ghana averaged approximately 36,900 barrels of oil per day (bopd) net in the third quarter of 2022. Kosmos lifted three cargos from Ghana during the quarter, in line with guidance.At Jubilee, production averaged approximately 88,900 bopd gross during the quarter. At TEN, production averaged approximately 22,200 bopd gross for the third quarter.At the beginning of the third quarter, the handover of the Jubilee FPSO operations and maintenance from MODEC took place. Since the transition, operating performance has continued to be strong with no reportable safety incidents and facility uptime of over 98%. In addition, several potential future cost savings have been identified, primarily through direct contracting, optimizing work scope and competitive re-tendering.The Jubilee Southeast development continues to progress and is now over 50% complete. Drilling of the first well has commenced ahead of schedule with all three wells expected to be drilled by early 2023. Completion of the wells is planned for the first half of 2023, with initial production expected around mid-2023. The partnership expects the new wells to increase gross production in the field to approximately 100,000 bopd.At TEN, an Enyenra producer well (EN-21) was drilled and came online around the end of the quarter and has now been choked back, awaiting pressure support from the nearby water injection well.Post quarter-end, the partnership drilled the second of the two riser base wells (NT-11) to define the extent of the Ntomme reservoir supporting further development of the TEN fields. The well encountered approximately 5 meters of net oil pay with poorer than expected reservoir quality. The partnership will continue to evaluate the full results of the two wells to high-grade and optimize the future drilling plans for TEN, with a focus on proven accumulations and areas with existing well control.
buhdonkatonk
07/11/2022
02:44
Methinks it's just EN-21P. Production was about 30K before latest well which looks to be another step out to the north. Enyenra is generally well understood. N'tomme is the head scratcher. Will learn tomorrow if NT Riser Base-2 was any good. If yes, won't be on production yet thommie, as sub-sea infrastructure isn't in place until mid 2023?
xxnjr
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