Tullow Oil Share Discussion Threads

[abertawe1974] 17/5/2023 08:40

What a response there is a tad of bull shxx in that I don't trust tullow staff

[subsurface] 17/5/2023 08:37

from LSE poster

I emailed TLW last week asking what they have implemented in terms of buying back the bonds and refinancing and what they are doing to address the share price decline.

Response -

We understand your frustration with the recent share price performance. We are focused on maximising cash flow generation from our high quality portfolio through rigorous cost management, disciplined capital deployment and operating efficiency. Although this has not yet translated into our share price, we remain confident that the growth strategy we have laid out will drive material value creation for our shareholders, as well as shared prosperity for our host nations and communities over the next few years.

We continue to progress our review of a range of refinancing options and we may seek to retire or purchase outstanding debt from time to time through cash purchases or exchanges in the open market or otherwise.

[mccracken227] 17/5/2023 08:15

They are down 59.9% in last 12 months and no comment from management.

[hsfinch] 17/5/2023 08:12

They're still singing the old Status Quo hit on here.

[subsurface] 17/5/2023 07:48

Sent a note today to IFG Management listed as one Of Tullows Main shareholders just to ask what they make of the Tullow share price performance?
if they reply I will post,

also thought about getting up to speed





were we miss led? at 4 minuts 39 can we bring a case?

[dros1] 16/5/2023 21:58

2025 bond trading at 55 why for haven sake they don't buy it off ? they have got the cash for it now

[alfiex] 16/5/2023 21:38

I think you are fizzmiss

[lyreco1] 16/5/2023 20:20

Fissmiss did warn everyone years ago Raul would take TLW down the same road as the lenders took PMO.

FSA; care to take this case on ???

[badger36] 16/5/2023 16:41

Bye, Bye TullowDhir has presided over the collapse in confidence following the Capricorn disaster. Appears they knew production and drilling results were a harbinger of doom and the desperate attempt to shore up the balance sheet has now laid bare the financial difficulties. Still paying exorbitant salaries, expenses with complete abandon. This will go down as another example of executives screwing shareholders par excellence

[dros1] 16/5/2023 15:19

not enough pennies left till 2024 let alone 2025

[xxnjr] 16/5/2023 15:09

hmmm! Well the current share price downtrend intercepts 0p on the X-axis in late 1Q 2025 which if memory serves is more or less when the 2025 $800m Bonds are due to be repaid. Coincidence?.....

[dros1] 16/5/2023 15:04

“2023 a year people stop worrying about the debt at Tullow”.

[subsurface] 16/5/2023 10:04

can be found if you google Africa oil corp then
First quarter results

[abertawe1974] 16/5/2023 09:55

Link my friend

[dros1] 16/5/2023 09:45

suburface please can you put up a link ?

[subsurface] 16/5/2023 00:14

Africa oil webcast 30 minutes in
Guyana Keith thinks has potential close to 15billion barrels shows prospectivity
working with partners to rejuvinate the blocks and hope to have a resolution by the end of next quarter,nothing decided yet.
Kenya delt with circa 34 minutes worth a listen.

[lyreco1] 15/5/2023 18:35

It's all been bad news since Raul rode into town

[alfiex] 15/5/2023 14:07

This dog has lost over 50% in the last 6 months, my guess is some bad news coming on update

[badger36] 15/5/2023 12:35

Look at the one month chart and ask yourself how is no activist shareholder has challenged the dismal performance over the past three years. After Capricorn debacle we should have knows they were clueless and desperate for a bail out as exploration and production capabilities are next to nothing for this collection of carpetbaggers

[sbb1x] 15/5/2023 11:42

Got to tag 20p soon

[hsfinch] 15/5/2023 09:51

Its not just executive pay....its the staff as well. Earning 2-3 times market rates for dreadful performance.

[hsfinch] 15/5/2023 09:49

We're still singing the Status Quo song.

[badger36] 15/5/2023 09:48

2/3 almost lost value inside 12 months Silence from top table. Shareholders shafted but executive pay scandalous Seems like it's destined for bankruptcy and whatever is salvaged will be puny. Imagine it was 15 pounds not a lifetime ago

[xxnjr] 15/5/2023 08:50

So, we have a tanker en-route to Jubilee. It's currently half way up Angola. Will be interesting to see if it goes straight to field and loads up, or anchors up in the so called Jubilee Waiting Area and waits, or picks up another 1/2 load elsewhere en-route delaying arrival, or doesn't show up at all. The first of those options may suggest the new well has come on-line and added some production.

[xxnjr] 14/5/2023 11:09

Thx SS, Kenya gets some mentions in the Q1 MDA downloadable from SEDAR but you get the sense that nothing much is happening. Que surprise!

"THE SOUTH LOKICHAR DEVELOPMENT PROJECT (BLOCKS 10BB AND 13T) AND EXPLORATION
BLOCK 10BA

At the end of Q1 2023 the Company had a 25% WI in Blocks 10BB and 13T (before Government’s back-in rights) with Tullow Oil plc (50% and Operator) and TotalEnergies (25%) holding the remaining interests. In December 2021, as per the license extension requirements provided by the GoK in September 2020, the Project Oil Kenya JV Partners submitted a FDP for the 10BB and 13T licenses. The submission of the FDP is followed by a period of review by the GoK, during which time the licenses remain in good standing. In Q2 2022, the 10BA license was extended to April 22, 2023. Subsequent to the period end, the Company decided not to renew this license.

(10BA is not part of the development project. ownership of 10BA was AOC 25%/Total 25%/TLW 50%)

Kenya
.....in Q1 2023, the Company incurred expenditure of $0.1 million.

.....the Company and its partners are obligated to drill one exploration well in 10BA. The total minimum gross expenditure obligation for the second additional exploration period is $19.0 million. The JV partners have not provided any letters of credit or guarantees for this commitment. The Company has presented a plan for exploration and appraisal in Block 10BA in the FDP. This drilling plan was formally submitted in December 2021. At March 31, 2023, the Company’s working interest in Block 10BA was 25%. Subsequent to the period end, the Company decided not to renew the license.

.....the Field Development Plan for our Kenyan assets includes use of solar power to
support administrative loads, and we have explored broader use of renewables to power operations at the facility.

.....Africa Oil’s primary focus is on its Nigerian and Namibian Orange Basin assets."

Their MDA also contains some useful comments on the OP

"Macroeconomic conditions During Q1 2023

Bloomberg Dated Brent averaged $81.4/bbl. This compares with a 2022 average of $99.9/bbl and Q4 2022 average of $88.3/bbl. Higher oil prices during H1 2022 caused by the Russian invasion of Ukraine have subsided significantly with markets’ focus shifting to global economic outlook. A 16% Brent oil price drop during March 2023 due to concerns around global economic outlook and international banking stability, caused by the collapse of Silicon Valley Bank (“SVB”), underscores the shift of emphasis and near-term price drivers for the oil markets. However, strengthening Chinese economic activity and intervention of OPEC, through a voluntary supply cut, have also provided positive momentum for oil benchmarks, highlighting a volatile and uncertain outlook for the markets. The Company expect ongoing price volatility in the oil markets driven mostly by opposing views around the health of global economy, including Central Bank decisions around interest rates to combat persistent inflationary pressures. However, the Company also continues to hold the view that underinvestment in upstream oil and gas industry and, geopolitical issues could contribute to a tightening supply-demand balance with strengthening momentum for the global oil prices."