Tullow Oil Share Discussion Threads

[bonnie60] 05/10/2023 16:54

When you say 'he', do you mean Reuben, Mazruddin,Patel or one of the many other false account names he goes under? He's a tuppeny per post paid shorter. No other reason why they would go under so many accounts.

[badger36] 05/10/2023 16:32

Until thing change he has been proven correct given the collapse in share price

[alfiex] 05/10/2023 15:12

He never gives up its like having piles lol

[bonnie60] 05/10/2023 14:23

Reuben putting on entertaining 1 man show over on LSE as MAzruddin.

[badger36] 05/10/2023 12:30

Wonderful progress on all fronts and reflection of same in the share price. Nobody is interested in Tullow now as a viable entity. It's set up to look after debtors and executives. Not even a chance in hell of a raise being successful to clear some of the billions outstanding

[reubenblackgold] 05/10/2023 11:21

The experts on the other board also got fooled by the pitiful director buys.

[badger36] 05/10/2023 08:52

At least Capricorn returned some cash. That deal was the death knell for management. A complete disaster and desperate attempt to draw in more funds which was so apparent that a child could spot it. Still same clowns that suggested and pursued it are drawing salaries

[bootycall] 04/10/2023 23:13

@xxnjr Thanks for posting. The conference might be a suitable opportunity to reflect on any progress with new projects or agreements with the Government of Ghana ?

Here”s hoping ! Booty

[xxnjr] 04/10/2023 16:55

Interesting Booty. I have downloaded the program, Day 2 Wed 11/Oct 14:00hrs Local

COUNTRY SPOTLIGHT: Ghana – Heading Towards the Next Growth Cycle
Ghana’s petroleum industry has witnessed significant progress over the last decade, making it one of the most promising sectors in West Africa. Following its initial growth cycle that started with the commissioning of the Jubilee, TEN and SGN fields, Ghana is determined to take its industry to the next level by leveraging on the inland Voltaian Basin and other Ultra Deepwater projects. Exploration activities in ultra deepwater offshore Ghana together with work being done on the inland Voltaian basin are expected to result in discoveries to shore up the reserves of the
country. Existing operators are also currently involved in significant brownfield expansions to mitigate production decline and monetise gas, thereby enhancing the sustainability of their assets while making more energy available for Ghana’s industries and households. But more is on the table as new offshore hubs progress towards FID and delayed exploration programmes are put back on the table.
• In this session, we invite the government of Ghana and its operators to discuss the future drilling campaigns, plans to unlock Ghana’s local and regional gas potential, and the outlook for the country’s upstream sector.
• How is Ghana preparing to position itself as a key supplier of gas to regional and export markets?
• What are the financial requirements for future exploration and development drilling campaigns?

• What has been the success of Ghana’s local content policies thus far? What are the next steps to build capacity?
• What projects are Ghana advancing to further expand its value-chain from upstream to downstream and make a better use of its natural resources?

Moderator: Senior representative, Subsea 7
Speakers:
- Joesph Dadzie, Deputy Chief Executive Officer (Commerce, Strategy and Business
Dev't), Ghana National Petroleum Corporation
- Egbert Faibille Jnr, Managing Director, Ghana Petroleum Commission
- Wissam Al-Monthiry, Managing Director: Ghana, Tullow

Our CEO and Chairman are also attending/on panels, as is Stewart Cooper (Srategy & Business Development)

Also our former CEO Paul McDade on behalf of Afentra; his chat
"Becoming a Trusted Partner of IOCs and Host Governments to Realise the Full Potential of
Divested “Legacy” Assets.

[xxnjr] 04/10/2023 13:46

mcs, well I wouldn't jump ship if I were you just now. I mean why crystallise a 65%, or whatever loss when things are finally starting to look promising?

There IS risk in holding, as the investment case here is reliant on the Jubilee FPSO not conking out for an extended period! And ofc the OP, the Stock Market etc etc could crash. Arbitration may throw a curved ball. Events, Dear Boy! But if you can live with that, one would have thought lower CAPEX and higher FCF next year ought to reduce debt, which ought to eventually result in a higher share price I don't have a share price target myself but I'm prepared to give Rahul, also our CFO and Wissam (TLW Ghana MD) the benefit of the doubt as they seem to know what they are doing (I don't see how they could have done better with JSE - at least from the asset performance so far).

I ascribe no value to Kenya. If it happens, which would be a pleasant surprise to me, then thats a bonus.

Some of the commentary on here/elsewhere can be either way too optimistic, or relentlessly negative. DYOR is my advice. Form your own conclusions and don't be swayed by manipulative posts that lack accuracy.

[bootycall] 04/10/2023 13:36

Anton over at LSE has sharpened his skills as a super sleuth. Unless I am mistaken, a large delegation from Ghana will be attending Africa Oil Week commencing on the 9th October. By the looks of the Conference agenda I would say we might be getting a lot of explanations for some very overdue news ? I distinctly feel a “love in” designed to attract external investment to the oil sector in Ghana.
All too often shareholders have been let down by delays and prevarication..eventually two sides see sense and resolve their problems.
Tullow tried to give shareholders a sense of what was to come. Firstly our cash generation was stated by the FD to be $75m for July and August..but hold on there. Jubilee SE only came on stream on the 14th July and the new gas price ($2.90per mmcf) was only levied from the month of August. Add to that the unwinding of historic low prices for a decent chunk of our hedge portfolio ..I would not be surprised in we were achieving close to $50m per month of free cash at current oil prices by the end of the year.

If Africa Oil week gives a reliable timescale for a new Ten development programme? and/or a revised long term gas sales agreement for exported gas, we can all start to celebrate. Repayment of a chunk of debt or another tender offer, should set the tone for a major share price recovery.
Only time will tell… Booty

Please do not rely on the facts or opinions expressed in the above post when making an investment decision. I have no knowledge of what may, or may not, be announced, at Africa Oil Week…my comments are based on conjecture.

[reubenblackgold] 04/10/2023 12:59

I don't think she had a lot of choice. Selling Uganda for $575m in the circumstances was a reasonable deal and not as complicated as previous offers. And there is the possibility of contingent payments.

The last update was lacklustre as the focus was on narrowing the production guidance, instead of highlighting that they are now producing around 64kbopd.

No target in mind.

[mcsean2164] 04/10/2023 12:24

xxjnr,

No doubt the previous were massively responsible but the idea of having a CEO is surely to put the best foot forward for a company. We could have recovered a bit but instead she put our worst foot forward, secured really bad loan terms and sold assets at firesale prices.

64p should have been the nadir but instead its got worse. It was my stupidity back then to hold when I should have sold. You're right, it's time to jump ship. I don't even know what is a fair price for tullow given thae amount of geopolitical risk.

Do you have a target in mind yourself?

[reubenblackgold] 04/10/2023 12:20

Dorothy inherited a sinking ship, just look at the RNS from November and December 2019. I was dubious of what was going on just before this when at least one news article claimed that the Guyanna, discovery was heavy oil, but the company had not confirmed this.

The best course of action is for TLW, to partner up with the Kenyan government. This should make the project more straight forward and the Kenyans can benefit by keeping more of the production.

[xxnjr] 04/10/2023 11:41

mcsean2164 17 Apr '23 - 21:03 - 58616 of 59304

Dorothy took over in December 2019.

Share price was 64p then.... Amazing only a couple of months before it was £2.05. The company has been destroyed.

Or putting your previous words in another way. The plane crash happened before Dorothy assumed control. If you remember the previous Pilot and co-Pilot were ejected by the board for wrecking the company. Suggest you blame the former CEO. Not those who were parachuted in to salvage something from the wreckage!

Doubt if you'll ever get back to anything like 200p here (but who knows?) so you might just as well throw in the towel and move on as suggested in your 59300?

(Please don't base investment decisions on this post!)

[mcsean2164] 04/10/2023 10:22

Reuben,

I was invested at around £2+. I averaged down a bit but never expected we'd be here. It all seemed to fall apart under Dorothy's leadership. She seemed to do everything to distance herself from tullow and sold at firesale prices. Anyway, back to 30p I guess.

[badger36] 04/10/2023 10:02

Even as the Titanic was sinking the pumpers are playing on

[reubenblackgold] 04/10/2023 09:46

The 70% rise was after the fall from the 60s down to around 22p.

The chumps blame the shorters who have an endless supply of shares to sell, fools like this will always be losers.

[xxnjr] 04/10/2023 07:24

Good morning mcs. Isn't it just profit taking following the recent 70% run up in SP? Most E&P's seem to be off their recent highs so doesn't look Tullow specific. OP also in profit take mode.

[mcsean2164] 03/10/2023 19:27

I'm totally lost in this 'investment'. I should probably just sell up and move on. Oil price goes up and tullow goes down. My target used to be £3.

[xxnjr] 03/10/2023 13:57

MCS I'm surprised you asked, as asking such a Q is, as we can see, just a cue for the usual suspects and de-rampers to get their violins out :)

[reubenblackgold] 03/10/2023 12:52

The company was restructured to look after the lenders, it was never going to go bust, and this is why the share price is shackled.

A few ramping fools could never see this, as they are fixated with Kenya, dreamland takeovers and broker forecasts.

[badger36] 03/10/2023 11:58

Lack of effective management I guess. Working with Tin pot dictatorships being whimsical and arbitrary that nothing is affirmed given the likelihood of regime change, bribery, Russian/Chinese influence Guess they have chosen bad bedfellows

[mcsean2164] 03/10/2023 09:23

Any ideas about the continued weakness in the share price?

I thought at $90 a barrel it'd be going gangbusters

[reubenblackgold] 02/10/2023 13:17

It's easy to make money here, just do the opposite to what the experts on the other board recommend. Snorkel for Anton and Co :)