Tullow Oil Share Discussion Threads

[acamas] 11/1/2011 10:59

eipgam,

There is much less profit in gas than oil. Also how do they transport the gas to a user? Logistical problems ahead me thinks. A pipeline to shore then what build storage tanks. Then what, how do we get across the desert which is Mauritania? Much much simpler to load oil on a tanker and ship it to a refinery, if we had oil of course

[bushwhacker] 11/1/2011 10:58

Could this be the reason for the new all time high?

By Fred Ojambo
Jan. 11 (Bloomberg) -- Tullow Oil Plc and the Ugandan government
have resolved a tax dispute that has held up the company's plans to
start producing the East African nation's first crude, a company
official said.
"For all intents and purposes, the tax issue is resolved and we are
discussing the way forward," Elly Karuhanga, chairman of Tullow Uganda,
said in an interview today in Kampala, the capital.

[eipgam] 11/1/2011 10:54

new all time high.... although there has been no confirmation of a resolution, it was interesting that all the sabre rattling came from the East African press and to a lesser extent, the UG whilst all the calm wait and see 'noises' came from TLW and the fund shareholders. Whilst people like Henk Potts of Barclays (see above) never even mentioned the situation when recommending the stock to investors.

Hopefully the price can now start to reflect all the good explo AND production news of the last few months

[impvesta] 11/1/2011 10:21

It has spiked up now stefield! A real flurry of activity. Can't see any RNS to account for it.

[stefield] 11/1/2011 10:17

funny how the price has moved up and all the talk of losing licences has stopped. good luck top all those who held their nerve.

[eipgam] 10/1/2011 17:53

Yes... looking back I can see that TLW say (in the RNS) that Cormoran 1 is 'successful'. Why, then, do the press say disappointing?

Anyway, who cares, the market likes it.

[85gary] 10/1/2011 17:20

My take, gas is good in Mauritania, gas condensate in Ghana is great news, but I agree mixed reviews in press? I like the following presentation citing a successful Cormoran well.



Tullow Oil Announces Successful Cormoran-1 exploration well offshore Mauritania
Monday, Jan 10, 2011

Dana Petroleum, the operator of the Cormoran-1 exploration well in Mauritania, in which Tullow Oil plc (Tullow) is a 16.20% partner, today issued the following press release:

Dana Petroleum advises that the Cormoran-1 exploration well has been drilled to a total depth of 4,695 metres below sea level and has been plugged and abandoned as a gas discovery. Stabilised gas flow rates of between 22 and 24 million standard cubic feet per day (MMscfpd) were obtained during a test of one of the four separate gas columns encountered by the well.

The Cormoran-1 exploration well is located in Block 7, offshore Mauritania. It lies approximately 2km to the south of the Pelican-1 gas discovery well, which was drilled in late 2003. The well was drilled by Dana Petroleum, as Operator of Block 7, using the Maersk Deliverer deep water semi-submersible drilling rig. Water depth at the well location is approximately 1,630m.

The primary purpose of the Cormoran-1 well was to test the Cormoran prospect, which adjoins but lies at a greater depth than the Pelican discovery. A secondary exploration objective was the Petronia prospect, which lies beneath the Cormoran prospect. A further objective of the well was to provide appraisal information on the Pelican gas discovery.

The Cormoran-1 well encountered generally thin but good quality, gas-bearing, sands within the Pelican Group at depths between 3,376m and 3,711m true vertical depth subsea (TVDSS). This interval comprised two gas columns, one in the Upper Pelican Group (3,376 to 3,420m TVDSS) and one in the Lower Pelican Group (3,691 to 3,711m TVDSS).

Good quality, gas-bearing, sands were also encountered within the Cormoran prospect, in the gross interval from 4,351 to 4,471m TVDSS, and at the top of the Petronia prospect, in the gross interval from 4,660m to 4,695m TVDSS.

Drilling was stopped at a depth of 4,695m TVDSS for operational reasons (elevated pore pressures). The well was still in gas-bearing reservoir section at this depth.

A drill stem test was carried out across a 33m interval in the Lower Pelican Group (3,679 to 3,712 TVDSS). Stabilised flow rates of up to 22 to 24 MMscfpd were obtained on a 32/64" choke, the flow rate being constrained by the need to avoid sand production. Substantially higher flow rates could have been achieved were it not for this operational constraint.

Following the DST, the Cormoran-1 well was plugged and abandoned, this being done in such a way that the well could be re-entered in the future.



Tullow Oil Announces Tweneboa-3 Appraisal Well Confirms Greater Tweneboa Area Resource Potential
Monday, Jan 10, 2011

Tullow Oil plc (Tullow) announces that the Tweneboa-3 appraisal well in the Deepwater Tano licence offshore Ghana has successfully encountered gas condensate in excellent quality sandstone reservoirs. Results of drilling, wireline logs and samples of reservoir fluids, together with the well's down-dip position confirms the Greater Tweneboa Area resource base potential.

The well, located over six kilometres south-east of the Tweneboa-2 well and 12 kilometres south-east from the Tweneboa-1 discovery well, was planned with two deviated boreholes to test separate areas of the Tweneboa field. The first leg was drilled to calibrate the potential of an area with a very weak seismic response. Within prognosis, this leg encountered thin reservoir sands and approximately 9 metres of gas condensate pay. The well was then sidetracked 550 metres west, targeting the significant Ntomme anomaly, an area of strong seismic response. This leg successfully encountered a gross vertical reservoir interval of approximately 65 metres containing 34 metres of net gas condensate pay in two zones of high quality stacked reservoir sandstones. Work is underway to integrate seismic, pressure and hydrocarbon phase data in order to progress development options for the Tweneboa and Enyenra (Owo) fields in the Greater Tweneboa Area.

Tweneboa-3 was drilled by the Deepwater Millennium drillship to a total depth of 3,906 metres in a water depth of 1,601 metres. On completion of operations, the well will be suspended for future use in the field development. The rig will remain in the Deepwater Tano block to drill the top-hole section of the Tweneboa-4 appraisal well which will then be suspended before moving to drill the high impact Enyenra-2A well which will appraise down-dip from the Owo-1 oil discovery. The significant oil discovery, made by the Owo-1 exploration well has now been named the Enyenra field.

Tullow (49.95%) operates the Deepwater Tano licence and is partnered by Kosmos Energy Ghana (18%), Anadarko Petroleum (18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

[eipgam] 10/1/2011 13:13

I'm not an expert.. but seems like two encouraging pieces of explo news this morning...

edit: Advfns take... Tullow Oil had mixed news, with success on one well in Ghana but a disappointing outcome on a prospect in Mauritania.

Our stake in the Mauritania prospect is only 16.2%

[eipgam] 10/1/2011 11:55

Gulliver.... seee post 15327. It was in the UK STimes last week.

[gulliver1] 09/1/2011 23:10

From todays Sunday Times Irish edition 20 tips for the 2011 market under oil.
Looking at individual stocks Henk Potts at Barclays likes Tullow Oil."we believe it offers an attractive oppertunity. The group is entering a new phase of growth and has a good operational track record" he said.

[tomgorham12] 09/1/2011 17:13

The first shipment has now left the Jubilee field...

[exmooroil] 08/1/2011 07:32

There should be a full update on Jubilee production in the 27th January trading/ops statement.

[xxnjr1] 07/1/2011 23:33

yeah, but the above only holds true if the FPSO was completely emptied after first cargo. It can store up to 1,600,000 bbls of oil don't forget.

[niceyman1] 07/1/2011 20:52

The shareprice rise this week must have been partly based on the fact that the ship "spike" loaded up with over 630,000 barrels of crude , the first consignment of Ghana oil to date. I was expecting a decent rise in the middle of december when the taps were turned on , but according to ghana media, there were a few hiccups in the first week and production wasn,t up to the 55,000bpd expected hence the shareprice lack of movement. Things seemed to have picked up fast though. If you look on the tullow website and look at the chart on expected production ramp-up , the best case points to beginning of feb to middle of feb 120,000bpd production rate, the worst case to end of april 120,000bpd production rate. The annual report says that 8 out of 9 production wells are already complete. It also says that when producing at 120,000bpd a day 3-4 large cargos will be filled per month.
Back to the figures we have seen in the press { not tullow rns} between dec 15-jan 5 over 630,000 barrels were produced averaging 30,000bpd. With the next cargo due 17 -18 jan with a 950,000 barrel load i make the figure were up to now 80,000bpd.
I know there are other factors involved , 3 appraisel wells being drilled + teak drilling at moment, i think this is just the beginning of a decent year for tullow shareholders. all i.m.o any comments?

[eipgam] 07/1/2011 19:43

I hope they left a cheque....

Is it strange that this news came via a Chinese agency? or am I reading far too much into nothing at all?

[ben chod] 07/1/2011 19:39

ACCRA, Ghana, Jan. 6 (UPI) -- A Libyan ship carried the first shipment of oil from an offshore processing plant at the Jubilee oil field off the coast of Ghana, the government announced.

The Ghana Maritime Authority said a Libyan vessel took more than 630,000 barrels of crude oil from the Jubilee field, the Xinhua news agency in China reports.

The shipment marks the first delivery since production started at the offshore oil field Dec. 15.

Tullow oil, the main operator at the field in Ghana, said Jubilee could produce up to 55,000 barrels of oil per day immediately. In as little as three months, the company said, that production could increase to 120,000 bpd.

Ghana is looking for experts to develop its offshore potential, as the newly elected government has little experience in managing oil reserves. The Jubilee field is one of the richest oil fields in Africa with potential reserves eclipsing 1.8 billion barrels.

The field was discovered in 2007.

Jubilee partners include Tullow, Anadarko Petroleum, Kosmos Energy, Ghana National Petroleum Corp., Sabre Oil and Gas and E.O. Group.



Read more:

[eipgam] 07/1/2011 14:27

if you look in the header, you will see that pr4w2b0y keeps a tight ship and updates info for all to see and benefit from: Q1 2011

[wodahsnoom] 06/1/2011 09:34

Here's my guess at what's going on -

Settlement of Uganda situation involving TlW, Hoil, UG & DRC where tlw gets its licences back in DRC along with Hoil's, TLW pay Hoil, UG get their tax & TLW, CNOOC & Total develop DRC & UG. Everybody saves face :)

[85gary] 06/1/2011 07:55

Stocks to watch today........interesting times.....



M&A speculation surrounding Tullow Oil has intensified following reports that CNOOC intends to spend over $150bn on increasing its production over the next five years. Tullow Oil has been regularly touted as a likely target for the China based oil company and news of its aggressive growth strategy will only fuel these
rumours further.

[phillis] 05/1/2011 22:21

boas noticias

[tamtam3] 05/1/2011 19:54

Does anyone have heard that Tullow will partner with ERHC in the EEZ zone in the Gulf of Guinea?



"Tullow Oil is the company to partner with ERHC in EEZ.

Luis Prazeres
Agência Nacional do Petróleo(National Petroleum Agency)
Avenida Nações Unidas,225 - SaoTome,SaoTomé e Principe
Tel:[phone]
fax:239 226 "



Tamtam

[eipgam] 05/1/2011 15:46

Wow... I hope you're right with that punchy price!

[niceyman1] 05/1/2011 15:42

I really do think that once Tullow finaly get the nod from Ugandan government that Cnooc will make a quick move on tullow . I really hope i,m wrong because £20-£25 per share will be attainable by year end without a takeover premium.
With the prospects tullow have £25 per share would be a steal!

[eipgam] 05/1/2011 15:32

as I said yesterday, I would be very pleased to be proved wrong..... yet again!

CNE (which I also hold) won't have much soon though once they sell India to VED.... unless we have a bidding war for the CI assets.