Tullow Oil Share Discussion Threads

[kulvinder] 24/1/2023 16:48

It would appear that way, as it has drifted and drifted, wish I had sold out the last time it hit 58p...

[alfiex] 24/1/2023 14:59

Market obviously not expecting anything good tomorrow.Tullow zzzzzzz

[subsurface] 24/1/2023 01:54

Guyana: CGX JV spuds Wei-1 well offshore Guyana



Uganda

Uganda to hold third oil licensing round in May in an effort to further develop a sector on track to produce its first oil in 2025.

Uganda agrees oil exploration deals with two firms including Australia's DGR Global

[lyreco1] 19/1/2023 18:13

TLW is always the runt of the litter. What a Sunday League management team

[mcsean2164] 19/1/2023 16:01

I guess that could be good or bad. Hopefully the former. Disappointing to see share price capitulation today. I really hope they are buying back their bonds....

[xxnjr] 19/1/2023 00:32

Africa Oil have just issued a pre-results trading update. Just a bare basics update. Most everything one would have expected got a brief comment. Only exception was Kenya. No mention at all.

[redbaron10] 17/1/2023 13:47

Never made any money on this share over the years having been in and out a few times.Jumped into Shell and BP when the ESG investing lobby made investing in fossil fuels unpalatable to many and now it's time to diversify here a little.I think Brent is more likely to go near $100 than $70 going forward with big oil slashing capex in the years ESG was front and centre, so some potential upside here i feel.China demand increase v global recession fears are the competing factors to where the poo goes from here.I'm not blinkered to the risks of investing here with this company's track record of discoveries, and exposure to a region, but it's a calculated risk.Time will tell.

[crazi] 16/1/2023 10:52

Oil at $85 is I reckon +- at the top price for a while so I just sold out. Bought at 35.22 and out at 38.10 so happy with that as a short term trade.

Good luck...

[xxnjr] 14/1/2023 12:32

Day 82, JUB SE, Rig still drilling away at same location.
(could be drilling 2 wells from same location; i.e where the manifold will be)


And Marine Traffic voyage details for Noble Discoverer (formerly known as Maersk Discoverer)

TT POINT LISAS ANCH ATD: 2023-01-11 15:38 LT (UTC -4)
GY GEO GEORGETOWN ETA: 2023-01-18 05:15 LT (UTC -4)

[xxnjr] 14/1/2023 12:16

I'm not really a believer in TLW's Guyana acreage but you never know miracle's occasionally can happen. So one to keep an eye on.

"CGX set to drill new exploration well offshore Guyana
Noble rig is on route from Trinidad & Tobago to drill the Wei-1 wildcat in the Corentyne block.

(Upstream) 13 January 2023 16:00 GMT UPDATED 13 January 2023 16:11 GMT
By Fabio Palmigiani in Rio de Janeiro

CGX Energy is on the verge of drilling a second wildcat in the Corentyne block offshore Guyana, as the Canadian operator tries to unlock additional hydrocarbons on the prospective play following a major breakthrough discovery in the licence area a year ago.

Sources told Upstream that the Noble Corporation semi-submersible rig Noble Discoverer is on route from Trinidad & Tobago after finishing working for European supermajor Shell, and should arrive in Guyanese waters next week to be mobilised to drill the Wei-1 exploration well."

-------------------------------------------------------------------------------------------------

afaics CGX's previous well Kawa-1 was let's say inconclusive. Slide 8 of their presentation speaks to "indications" of HC's. But it is quite an interesting presentation.



I've lost count of the number of wells Total/Apache have drilled next door in Suriname. Approx 10. Huge spend. Majority discoveries. Still drilling. But apparently according to Total there is a mismatch between what they are seeing on seismic and what they are finding in the wells. A bit of head scratching there then and so far no firm development plans although a multi-field single FPSO development appears to be potentially on the horizon. Back to sleep on Guyana. zzzzzz.....

[xxnjr] 13/1/2023 13:01

The 4 billion is oil in place. Gross Reserves are more like 550m (or 650m?) from memory. I tend to follow the production data and ignore any spin emanating from Chiswick! Possibly because we've been waiting 18 yrs and counting for Uganda to produce oil.....

Edit---->
Just checked

February 2018
"Kenya resources assessment completed: 240 – 560 – 1,230 mmbo (1C–2C–3C) contingent recoverable resources."

[subsurface] 13/1/2023 11:33

Hi Mcsean

I wonder what's taking so long.

I dont expect much before March as the govenment have 60days to approve or regect
or send for amendment the field development plan.

[mcsean2164] 13/1/2023 10:21

Oil reserves in the Lokichar sub-basin are estimated at over 4 billion barrels with full production potential estimated at 100,000 barrels per day, by 2024.

That's still 25k barrels if they farm down another half of their stake to India. I wonder what's taking so long. Is it all political instability?

[subsurface] 12/1/2023 00:13

Kenya, Africa press update with error ,2,000 barrels being transported by oil tankers nowadays.

[franky15] 10/1/2023 19:38

That maybe true at the moment but it still won t get voted through at 50p

[crazi] 10/1/2023 12:46

Definitely worth more than 36pps...

They do need a rally though to keep people interested. Corporate Brokers suck and they should be replaced - bring in new blood to show some support and motivation for the share price

I day trade this on occasion but even that has become slow.

[allender] 10/1/2023 11:48

A buy out out in the 50p range is about a 50% rise from here and this is nothing more than a zombie company. You would have to be insane to think this is worth a pound.

[xxnjr] 09/1/2023 13:33

Thanks SS.

Absent of a meaningful farm down with well cost carry included, it may make sense for TLW to exit the Orinduik block given their existing 60% equity equals a relatively high well cost for a cretaceous well (deeper than tertiary). TLW could then spend the money on a Cote d'Iviore exploration well in 2024 assuming TLW could farm down a large chunk of their CI-524 block, currently 90%. Or use the unspent money from Guyana exploration to pay down debt. The $800m 2025 bonds are trading at 62% now. Spend the exploration cash on the bonds where the COS is 100% + (100% -62%) = 132% if you get my gist. Actual COS post well for exploration typically <10% for Tullow.

[subsurface] 09/1/2023 12:10

Happy new year to you to XX

Tullow expected to drill Amatuk well in 2023, after relinquishing 20% of Orinduik Block

Amatuk is expected to be drilled in the second renewal period of the license. The Orinduik Block partners were encouraged by recent nearby discoveries made by ExxonMobil in the Stabroek Block.

According to the website of Eco (Atlantic), Tullow’s Orinduik Block partner, the first renewal period of the license comes to a close on January 12, 2023. The license requires a relinquishment of 20% of the acreage, which would see the consortium parting with approximately 360 square kilometers of the 1,800 km2 acreage.

Interesting to see what Tullow say.

[xxnjr] 09/1/2023 11:08

Happy New Year everyone!

So.....

We haven't had any new producers drilled/come on stream for a while now on Jubilee as the rig moved to TEN early Q2/2022. Gross Jub Production has consequently declined to c.80K now, or less afaics.

And those TEN wells don't seem to have been a resounding success.
1 x w/inj completion (result unknown) + coupled EN-21Producer (now "throttled back" awaiting pressure support from the the w/inj with no bopd numbers given).
2 x N'tomme Riser Base "producers" that won't be developed as not enough oil in wells.

Kind of continues the saga of majority of recent TEN wells disappoint afaics. So guess TEN heading for 20K bopd gross, or less?

Rig has been on same location on JUB SE for about 70 days now drilling the new development. Timing of new JSE first oil is crucial. The Q is; when will the new JSE producers actually come on stream? If this is to be a mid-year event then 2023 1H production looks to be weak?

Can't say I'm particularly looking forward to the trading update on 25th/Jan.

[subsurface] 09/1/2023 09:01

Tullow January Trading Statement 25 Jan 2023

[florenceorbis] 08/1/2023 10:57

Upcoming events on TULLOW OIL PLC



February/08/2023   FY 2022 Earnings Release (Projected)

[franky15] 04/1/2023 14:41

Anything less than a quid it won t get passed a vote because of Lth