Tullow Oil Share Discussion Threads

[zingaro] 02/2/2011 15:26

OK, I have now found the reference in a transcript of the results call yesterday

We are currently drilling the Teak prospect on the same block, about 2.5 miles northeast of the Jubilee Unit boundary. Teak is testing multiple Campanian and Tweneboa objectives, and we are encouraged by what we have seen so far in this well with results expected soon. The partnership plans to drill these another four exploration wells this year on the block.

Taken from

[blunderbuss] 02/2/2011 13:24

Well done holders, looks like I got it wrong on this one :-)

[eipgam] 02/2/2011 12:24

Thnaks Zing... TLW RNS to come then?

[zingaro] 02/2/2011 12:22

Anadarko's 4th Q results were Monday with the conference call yesterday. FT Alphaville today mentioned TLW were up on Teak guidence:


BE
Ah yes - Tullow took a wee bit of a lift on that yesterday.
BE
On the back of the guidance that Teak was looking promising.
BE
Which'd be at least a small positive

Have not heard or seen the guidance myself, as I could not get the web replay of the conference call to work.

[eipgam] 02/2/2011 11:40

Interesting.... would that be about 1.30 then?

[niceyman1] 02/2/2011 11:00

Am expecting teak news to be released by anadarko {the operator} before tullow possible after lunch before the dow bell. could be later this week!!!

[eipgam] 02/2/2011 10:54

aye aye... somethings afoot.

[eipgam] 02/2/2011 10:33

Ping.... £14

If we can hold, I am sure we will soon see the benefit of all the explo news that got disregarded somewhat whilst the Uganda situation played out....

[eipgam] 01/2/2011 15:22

Thanks Bill... is there anything interesting in the note?

[billytkid2] 01/2/2011 14:20

They have a target price of £16

[ringer12] 01/2/2011 13:48

Ah yes. A target price below the current share price and a buy recomendation.Wonderful.
Does this mean that the target price is the lowest that the price will reach?.

[eipgam] 01/2/2011 11:09

thats an upgrade with a downgrade price?

Tullow Oil started at UniCredit with buy rating, 1334p target price

[nellie1973] 01/2/2011 10:28

Broker upgrade today

[ringer12] 31/1/2011 17:44

Talks progressing well....what's the odds on a decision before Easter?

[acamas] 31/1/2011 12:46

Tullow has a similar partner agreement with oil sold from Mauritania field. Seems at first sight strange but it works. I think each partner might sell forward at different spot prices to different oil markets by the tanker

[plerche] 31/1/2011 09:53

Can anybody explain to me how the oil in Ghana is sold?

It looks to me as if the stakeholders are taking it in turn to sell a tanker full of oil. Somehow I thought that for every tanker full of oil sold, they would split the proceeds according to their stake.

[ringer12] 27/1/2011 17:38

The question is how much will the share price fall when they finally announce that all Ugandan problems have been solved?. Perhaps we might be better with a few more problems!

[gulliver1] 27/1/2011 09:31

Davy.
Tullow Oil

(TLW LN)

Trading statement shows good solid year and expectation of surge in production

Job Langbroek


Price: $21.44 Rating: Outperform 30/06/09

FACTS: Tullow's trading statement reported a good solid year of production, with performance coming in at the upper end of expectations with production of 58,100 barrels per day sold at an average price of $78 per barrel. Revenue is expected to be in the region of $1.1bn for 2010. Gas prices in the UK were comfortably strong at 40p per therm pre-hedge. Net debt at the end of the year was $1.9bn with capital expenditure of $1.2bn. Exploration write-off will be $135m. No resolution to the Ugandan dispute was achieved during the period. Tullow expects to drill 40 wells in its exploration and appraisal programmes during the current year. The year was notable for the start-up of Jubilee production in the last month of 2010. This field is now producing at 50,000 b/d and is heading towards 120,000 b/d in the current year. Average group production in 2011 is expected to be between 86,000 b/d and 92,000 b/d.
ANALYSIS: Most of the important metrics in the year were previously guided, although revenues were a little ahead of consensus due to good price realisations and a strong production profile. The lack of progress in the Ugandan negotiations is disappointing, but there is hope that the upcoming presidential elections will mark a watershed and that a resolution is achieved thereafter. Both the farm-in parties waiting in the wings remain committed to the process. The statement provided evidence of the next generation of projects to build Tullow's production profile to its medium to long-term target of 200,000 barrels per day. It sees Uganda starting up in 2015 and the Tweneboa complex offshore Ghana commencing in 2014.
DAVY VIEW: The build-up of a core of production growth in the group demonstrates its ability to achieve the full industry cycle from discovery to production. The start-up of Jubilee should be followed by other Ghanaian and Uganda developments over the next five-year cycle. The exploration portfolio continues to be an important value engine for the group, and it has prospects that can still deliver scale and materiality. From an investment point of view, the next two quarters bring plenty of exposure to high-impact drilling, especially offshore South America. A resolution to the Ugandan issue will especially allow the market to focus on this aspect of the group. Our NAV per share is 1503p per share.
Back

[tomgorham12] 26/1/2011 19:01

Now, here's the question: do we wish for a positive RNS tomorrow - and the resultant price drop; or a largely negative RNS and the commensurate rise in SP? :)

Even my most optimistic side can't imagine any significant progress in Uganda - surely this will now wait until after elections, although it has gone eerily quiet these last few days...

Anyway, here's hoping for good news.

[85gary] 24/1/2011 12:59

Some may say more politically unstable than Uganda, but interesting?

Energy firm wants to drill for oil in North Sea off the East Yorkshire coast

An international oil company is looking for oil more than 180km off Flamborough Head.

Tullow Oil UK, which is Africa's leading independent oil firm, has applied for permission to drill an exploration well 13,000ft deep in Dogger Bank.

As first revealed by the Mail, the North Sea spot is set to be home to the world's largest wind farm.

A Tullow Oil spokesman said: "Once planning permission is granted, drilling will start in April. The rig will be on location for up to 82 days.

"If no oil is found, the well will be plugged and abandoned."

Plans for the exploration well are available at Withernsea Library until next month. Representations to the Secretary of State by e-mailing [e-mail]

[mccracken227] 24/1/2011 11:58

£15.75 will do for starters Ben

[eipgam] 20/1/2011 12:29

if it's not one thing, it's another.....

A corruption probe into a contractor of Kosmos Energy Ltd. could lead to extra costs at a giant Ghana oil field, according to Kosmos's initial public offering prospectus.

Kosmos said the probe may hypothetically trigger an interruption of production, though this appears unlikely, said financing for a production vessel used by the contractor had been suspended pending the investigation and said partners in the Jubilee field may be required to contribute further funds as a result.

In the document filed to the U.S. Securities and Exchange Commission Jan. 13, Dallas-based Kosmos said partners in the field as well as the International Finance Corp., part of the World Bank, "are working with MODEC and its legal advisors to investigate" some "potential violations by [the contractor] under the U.S. Foreign Corrupt Practices Act."

MODEC is contractor for the floating production and storage offloading, or FPSO, facility used by Kosmos for the Jubilee field, which started producing last month.

"As a result of these concerns, MODEC's long-term funding from a syndicate of international banks for the repayment of funds originally loaned by [Kosmos, along with partners] Tullow Oil PLC (TLW.LN) and Anadarko Petroleum Corp. (APC) for the financing of the construction of such FPSO has been suspended pending this investigation," Kosmos said.

If MODEC cannot access funding, partners in the field "may be required to contribute further funds before Sept. 15, 2011 in order to purchase the FPSO or find an alternative funding source or buyer," it said.

-By Benoit Faucon and Will Connors, Dow Jones Newswires; [phone]; [e-mail]