Tullow Oil Share Discussion Threads

[85gary] 02/12/2010 10:10

5mally, thanks for your pointers. Good read. Good to see you are upbeat, just need to get that share price to respond. I've been patient for a year on Uganda, watching and waiting for something positive to be announced rather than all this political negative stuff.

By the way, it is the 30% state owned bit of ENI that wories me most! Would you trust Berlusconi?

I'm upbeat on Ghana, just want the Total Cnooc route to be confirmed. Onwards and upwards from here?

[5mally] 02/12/2010 09:13

Have I missed something? the board appears very down, Ghana moving ahead well with ceremony Dec 15. and recent large finds
Uganda is still moving along, taking a lot longer than planned but it is not stopped. Why would Uganda want ENI ahead of the Tullow/Total/Cnoooc. Total is the 9th largest oil company, where as ENI are in 20th place and it is 30% state owned.
Patience is needed.

US announced 7 year drilling ban on florida and gom

The eastern Gulf of Mexico and Florida's Atlantic coastline will remain closed to oil drilling for the next seven years, marking a reversal of the Obama administration plan to open up the waters for oil and gas exploration.

Read more:

good luck all, cheer up DYOR

[acamas] 02/12/2010 08:41

I just wonder if ENI have the balls to take on the French and Chinese who have a commitment in Uganda with Tullow.

Uganda themselves might not wish to upset The Chinese either.

Time will tell, interesting predicament

[85gary] 02/12/2010 08:36

ringer12. You are spot on with that comment! If memory serves me correct every Hilary Onek comment was in favour of ENI and against Tullow. His comments were at first shot down by Museveni, who seemed to favour Tullow, but suddenly the mood changed and Museveni turned aginst Tullow when tax issue became publically unacceptable and Uganda was short of money. (Probably pocketed all the food aid budget)! ENI promised a sweetner saying they had experience to develop infrastructure, Berlusconi was involved heavily in background. Elections are a couple of months away, so this has resurfaced. Question now is whether this is all bluff. Will Tullow come out of it well. Who knows this is Africa and I think Tullow were caught napping when Heritage sold up. Go with ENI or try to control things youself. I'm sure loads of work is going on in the background, but nervous times for long term investors. I hope Aiden is still sweet with Museveni behind the scene, but dyor.

[anotherardbeg] 02/12/2010 03:15

Exactly ringer.

[ringer12] 01/12/2010 18:03

What seems rather suspicious is that Hilary Onek has surfaced again. If I remember correctly he was the one that was not in favour of Tullow taking over from Hoil and seems to be rather friendly with ENI. I get the impression he was never keen on the CNOC/Total/Tullow set up. Perhaps TLW's brown paper parcel was not big enough!

[tomgorham12] 01/12/2010 16:29

I'm not sure how big news this continuing ENI interest is. It's not as if we don't know Uganda likes Eni - take this news from last Jan, for example:
Equally, Eni itself has been sniffing around for months - back in June, four months after it had formally withdrawn from Uganda, it was still interested ( The fact that they're asking to meet the president doesn't surprise me a bit, and the fact that Uganda are mentioning strikes me as politically smart.

[soupdragon55] 01/12/2010 16:15

ringer, Tullow were HOIL's partner so should have known about the licence issue since they were partly responsible.

ENI seem to be hovering around in the background, I think they have more influence in this story than is currently being told.

[niceyman1] 01/12/2010 16:10

the market thinks that tullow is going to lose there blocks in uganda. i.m.o

[ringer12] 01/12/2010 16:00

If Hoil sold the two blocks to TLW while not technically being the owner having failed to renew the licence surely that is equivalent to fraud. Why don't TLW sue Hoil in London. The chances of success have got to higher than suing Governments. I wonder if TLW have really thought out the legal complications properly.

[comcols] 01/12/2010 15:52

FTSE 111 points up and TLW 2p in the Blue, obvious the markets are holding off, this UG carry on will kill this company if not careful.

[85gary] 01/12/2010 15:27

I do hope the support holds at 1150 ish. Too many negative vibes from our East African pals for my liking! Maybe time for wikileaks to spill the beans on ENI's bungs to Hiliary? In any case I think it is long overdue for Aiden to play a blinder? One year on and only negative progress in Uganda and Congo? Not good enough, must try harder! Africa west coast production is set for good growth, but we need to sort out the East coast exploration plays quickly.

[mccracken227] 01/12/2010 11:03

niceyman1, not sure if worth topping up, these are now below 12months ago share price and with all the "good news discoveries etc" i am not so sure that with the Uganda issues, despite the Jubilee coming on stream that we will see £13 again?

agree with ringer a fiasco

[niceyman1] 01/12/2010 09:55

Bargain prices,top up while you can? or does somebody know something we dont? [theres been some big sells going through the last few days].

[ringer12] 30/11/2010 21:51

Goes from bad to worse What next? Ghana licence withdrawn! What's the value of Tullow if Uganda and Congo blocks are a write off as seems possible. Can't see much prospects in suing the Ugandan and Congolese governments.as they are a law unto themselves. Cnoc and Total's patience must be wearing rather thin.
There again what's to stop Cnoc and Total applying for the licences over tullow,s head since apparently TLW no longer own them. You couldn't make it up! A fiasco.

[acamas] 30/11/2010 16:51

So ENI wants our license. We do all the work and the Italian Job moves in on our territory. Sneaky little blighters

[oilretire] 30/11/2010 07:42

Not cancelled, just postponed. If there is an approach it'll be hostile & nothing to do with a Ghana listing getting postponed IMO

[niceyman1] 29/11/2010 20:41

Tullow cancel ghana listing! i wonder if we going to have an approach in the next couple of weeks! It must be tempting for Cnooc at these prices?

[dougdig] 29/11/2010 18:24

A lead balloon!
Unbelievable - but value will come in time - and I´m in no hurry.
I only wish I had bought at these levels instead of nearly &13.00.
The story of my life - always buying too high!

[joestalin] 29/11/2010 16:27

market seems underwhelmed.

[tomgorham12] 29/11/2010 14:51

Hopefully today's Ghana news will knock some common sense into Ugandan heads. I live in hope.

[oilretire] 29/11/2010 14:41

mccracken, it will be a long time started come the 15th. First oil yesterday for commissioning & will continue. They'll have it all running smoothly before inviting the TV cameras & President to a mock start up.

[oilretire] 29/11/2010 14:39

Jubilee 'started up' yesterday :-)

Official ceremony on the 15th Dec

[mccracken227] 29/11/2010 14:37

first oil 15th December, i hope that will reflect in the share price !!!!!