Tullow Oil Share Discussion Threads

[mcsean2164] 19/5/2023 10:04

I think it was around march 2020. Around start of pandemic.

[1224saj] 19/5/2023 09:11

October 2020 then at 16p

[subsurface] 18/5/2023 23:14

Kenya
Kenya plans to build 3 more ships to boost oil shipment to Uganda



Perhaps a refinery is on the agenda?

[mcsean2164] 18/5/2023 14:58

2p less than me. I'm tempted to top up again but once bitten twice shy. My last top up was at 16p. Didn't think this would persist post covid19...

[alfiex] 18/5/2023 14:27

Me too i need 94p good luck

[farrugia] 18/5/2023 13:20

This is from the LSE board.

[Tullow had some low oil price hedges that finally dropped off, Profit jumps in June. Market knows this

"Tullow’s commodity hedge portfolio provides oil price downside protection at $55/bbl for c.64% of forecast sales volumes to May 2023 and c.40% of forecast sales volumes from June 2023 through to May 2024"

So that 24% @ $55 has ended and tullow will now be getting todays price $76. To be honest they should RNS on this. Its great news.]

[mcsean2164] 18/5/2023 12:31

Nice to see a bit of a reversal, my break even is around 96p😬😬;. A long way to go😂

[mccracken227] 18/5/2023 10:15

Is there a facility to buy non mandatory bonds available?

[subsurface] 18/5/2023 09:42

U.S. Department of Energy announces purchases for the Strategic Petroleum Reserve

Purchase of 3 Million Barrels Advances Efforts to Replenish Reserves at a Good Deal for American Taxpayers, Maintain the SPR’s Operational Readiness, and Protect the Nation’s Energy Security

[xxnjr] 18/5/2023 08:50

Oh yeah, sorry forgot about that. There's a mandatory $100m debt repayment at face value due on the 2026's due annually on the 15th May.

[subsurface] 17/5/2023 22:58

Good evening XX
Noticed this on LSE

TLW are obliged to buy back a portion of the bonds at full face value (PAR; 100%) rather than at the prevailing market price. This will be spelt out in the prospectus but is in any case alluded to in the press release.

Idont know but thought it may be of interest.

[xxnjr] 17/5/2023 22:43

ref the Bonds. If TLW were going to buy some back then surely now would be the time to do it? as,(1) Rahul has told us he (or his advisers) reckon oil prices will firm up in the second half and (2) the production growth from Jubilee drilling going forwards. Both of these ought to reprice the bonds narrowing the discount. So strike whilst the iron is cold! Do they have any cash available? Who knows? There was $600m at years end. That may have halved, on tax payments, high JSE CAPEX and weak oil prices?

[alfiex] 17/5/2023 22:31

We need a rabbit farm and a case of san miguel

[subsurface] 17/5/2023 21:55

If Rahul has a Rabbit to pull out of the hat its needed before the AGM, We need a Bevy of Rabbits.
I need a Bevy too!

[xxnjr] 17/5/2023 20:25

FWIW. Panmure Gordon’s oil & gas analyst Ashley Kelty reveals the smaller oil companies he likes right now, and which is his favourite oil major - BP or Shell? He also tells interactive investor’s Lee Wild who he thinks is pulling the strings on the international oil markets currently, and what he thinks oil prices will do over the next 12 months.....

".....Lee Wild: And then in terms of oil prices, what’s your view for the next 12 months? Where do you think we’ll be this time next year?

Ashley Kelty: I’m certainly bullish on oil prices, I think we’ll see them above $90 later on this year. They could even reach $100. However, I don’t think we’ll see sustained levels above $100. I think OPEC would increase their supply if it did get above 100. I think they want to choke it back somewhat in order to ensure that the Chinese recovery continues. I don’t think they would want to push too hard for a short-term gain which could slow down the global recovery.

So I think, yes, 80 to $90 would be happy for them, they would balance the books and that would allow them to keep control that they have just now."

".....In terms of Africa, I think Kosmos Energy Ltd looks very interesting. They have got some good portfolio assets in West Africa and they’ve also got the large Tortue LNG project that should come on stream towards the end of this year. And they’ve also got some interesting discoveries and developments in the Gulf of Mexico. They’re certainly partnered alongside perennial favourite Tullow Oil which seems to be going backwards at the moment, but I do think that if you want exposure to West Africa, Kosmos is definitely the player for that."

[xxnjr] 17/5/2023 17:57

On this occasion I tend to agree with you Bootycall insofar as the share price has probably fallen too far. I think we are still at c.70K so thats where we are starting from. Let's see what the new wells add. But I'm more optimistic than before given Kosmos commentary on which wells come on when and a more balanced program between Main Field and JSE.

[bootycall] 17/5/2023 16:08

This valuation is insane. I have been buying. Unless the oil price tanks further I see many catalysts for a rerating. The management should have informed the market about temporary disruption to Jubilee production (falling to 70k gross) whilst Jubilee SE wells was completed ( we established this from the Kosmos IR call). In Q4 i would not be surprised if production at Jubilee exceeds 115kboe late in the Q4. A gas sales agreement in Ghana, potential farm out in Guyana, JV in Kenya, extension of debt maturity of the bonds and a deescalation of spurious tax claims in Ghana are all realistic options.


Booty

[farrugia] 17/5/2023 11:26

people here need to contact investor relations and ask why their directors aren't buying shares at those prices. I have no shares in Tullow.

[badger36] 17/5/2023 10:35

This is BULA Resources all over againAll the BS and nothing but con men Told the world of unlimited reserves in Iraq and Libya Brought analysts to a well in west Russia and showed oil in a well bubbling only for it to have truck marks where burnt oil was thrown down a holeNothing these guys said has proven correct.

[alfiex] 17/5/2023 09:04

Its the waffle they write, but the last paragraph they have been saying time and time again but do nothing.

[bones698] 17/5/2023 09:04

As predicted heading south fast will be in single digits soon enough . Debt will kill this share and incompetent management

[abertawe1974] 17/5/2023 08:40

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