Tullow Oil Share Discussion Threads

[niceyman1] 29/11/2010 14:32

Yet another comment from the ugandan junior old minister saying that talks between heritage ,tullow and government are going well, but no timeframe!

[joestalin] 27/11/2010 10:42

Jeddicat

African countries never have been democratic. Let us not forget that they did not vote for British rule, or Belgian in the case of DRC. They do not know what the word means. They have merely changed a white dictator for a black one.

[ben chod] 26/11/2010 16:35

The west did have some political flex in the past but as you pointout are no longer the largest democracies

[phillis] 26/11/2010 12:08

what has it got to do with us?

[acamas] 24/11/2010 09:14

That is oh so true. However if he is returned on a much lower margin of the vote. He might have to listen to Parliament much more than currently where he appears to hold the casting vote over Parliament. Well that is how is seems to me from what I read about Uganda

[niceyman1] 24/11/2010 09:10

There is no way Museveni will lose this election.After 26? years in government this isn,t the time to lose an election with all the money from oil contracts/production about to be realised. He try any dirty trick to keep in power? i.m.o.

[tomgorham12] 24/11/2010 08:59

So presumably that means nothing will happen until after the elections in Feb. Any visible ground given by the govt now will be seen as weakness given its stance a few weeks ago. And would Tullow necessarily enter into an agreement with a govt that could (theoretically at any rate) be out of office in a matter of weeks? I mean its one thing an administration changing the rules - just imagine what a different administration could do!

[acamas] 24/11/2010 08:47

tom,

They can print what they like to the populace but do they believe what they are told. I would prefer to read what TLW and/or HOIL are releasing on this matter and currently they are saying nowt. So for me nowt is happening for the time being.

Eventually the UG have to give ground. Their tax demand from the start was unreasonable. This is a stage in the enterprise when it is all pay out for the explorers, no revenues from this venture so far. But that will change within the coming year. The UG have to let the process take its course then this $283m will look small change by any yardstick. Their exchequer will soon be overflowing with oil revenues

[tomgorham12] 24/11/2010 08:27

It may be the usual govt nonsense. But I'm always relieved whenever I hear that the govt and Tullow are talking. It's when that stops that I'll be worried...

[acamas] 24/11/2010 08:22

Or come to that who are "we" the various departments involved in the UG. To present a paper to HOIL and for HOIL to say "get lost we ain't paying"

[acamas] 24/11/2010 08:02

jeddicat,

Who are "they" in that article?

"About $121m has already been paid and we have reached an agreement on how they should pay the remaining $283m."

HOIL are not interested as far as we know. So how are the UG going to get their hands on $283m? Tullow has a bank loan pays now lives later by getting back $400m in oil benefits! Sad, Tullow bears all the risks financially

[tomgorham12] 24/11/2010 08:00

Does look promising - hopefully December will see this resolved.

Do I need to qualify that I mean December 2010? :)

[jeddicat] 24/11/2010 07:43

This looks good, published yesterday.

[jeddicat] 18/11/2010 07:57

tom - Re. above Independent Report, many thanks, excellent report in my view!

It is understandable that Hoil are not keen to pay, it is strange that CTG can be set aside and reclaimed from oil royalties to UG, so long as you are still in Uganda, but not if you leave? After all, they took part, and paid, for the discovery of the oil, (50% with TLW) the royalties of which will go to the UG anyway.

[tomgorham12] 16/11/2010 22:53

Who is Museveni fooling on Tullow Oil tax dispute?

[eipgam] 16/11/2010 19:18

Tullow Oil started with buy recommendation at Liberum, target price 1635p.

[pcok] 16/11/2010 17:39

Baton down hatches (again).
Wake me up in the spring.

[anotherardbeg] 16/11/2010 17:06

Agreed its market wide.

[eipgam] 16/11/2010 17:05

Following the DOW and FTSE, methinks

[soupdragon55] 16/11/2010 16:32

Oil down 2% doesn't help.

[blunderbuss] 16/11/2010 16:24

Because the company is being robbed.