Tullow Oil Share Discussion Threads

[stefield] 03/3/2011 07:30

great news.

well done HD. dont know how many you have, bet you wish you had bought a lot more at that price ! ha ha

[hiddendepths] 03/3/2011 07:10

That is one seriously good well. Communication at both levels makes for a very large field. Not that the market seems to care about such things these days.

Unless Tullow is taken out, it is well on the way to becoming a fully-fledged major. Glad I bought them at 11p!

[zingaro] 25/2/2011 19:40

The Business Week article has appeared headlined on Bloomberg (noir). Nice

[pr4w2b0y] 25/2/2011 18:17

post 15533 of 15539

Good spot although this has been mentioned before & could be Tullow's next string of pearls, exciting stuff.

[5mally] 25/2/2011 15:35

golddigger re the depth of drilling
"The prospect field, called Zaedyus, lies 21,000 feet below the ocean's surface."
6400 metres

it is in the bloomberg article flagged by 85gary.. thks
gla

[niceyman1] 25/2/2011 13:23

wish i could afford 200k! i would say they are both buys and judging by volume last 2 days news related!

[eipgam] 25/2/2011 13:14

well.. you did say you had to get back trading so you should know if it was a buy?

There was a 200k sell as well?

Thanks for your comments

[niceyman1] 25/2/2011 13:13

Another 200k must also be a buy ! things are hoting up!

[niceyman1] 25/2/2011 13:04

!90,000 must be a buy!

[niceyman1] 25/2/2011 12:02

Eipgam I would expect with the elections out of the way now , the ugandan governments first priority would be to get things moving in the oil sector.
Museveni has shown his strength by not backing down on cgt $286 million leading up to elections. Now he has been re-elected i expect him to see sense and do what ever is needed to start oil production and so i expect news a.s.a.p. even before the update on 8th march. i don,t think the total comments are going to effect the deal on the table , i think they were just trying to get things moving again, and i would have thought that turning cnooc down in kenya last week really displays the strenght of Tullow at the moment- there not giong to be dictated by any-one! Anyway must get trading again ..london is just opening finally... all i.m.o.

[85gary] 25/2/2011 08:43

worth a read.....

[lucy01] 24/2/2011 17:26

I think due to report 8th March

[eipgam] 24/2/2011 16:26

nicey... when are you expecting the RNS? are you alluding to the CNOOC article?

[niceyman1] 24/2/2011 15:14

Any guesses on the price rise on rns on completion of farm-in? £2-£4 or will we see the price spike/price in before?

[eipgam] 24/2/2011 14:41

ex... that's how I remember it as well....

[exmooroil] 24/2/2011 14:24

Tullow's share price hit a (then) all time high ~ £13.80 at the end of 2007, closely followed by a large placing in January 2008 at £11.50. This coincided with the beginning of the slide in PoO, if I remember correctly, hence Tullow's share price behaved accordingly.

[tomgorham12] 24/2/2011 10:34

Thing is, I don't think Tullow historically performs well when the oil price peaks. That might seem counter-intuitive, but if I remember correctly, the last time there was a big spike (2008), Tullow's share price suffered. I suspect that's because traders were second-guessing the market and presuming that an unsustainable oil price would weaken demand, which would lead to a lower oil price. Of course, inevitably, the same theory doesn't appear to apply the other way!

I'd prefer to put down this morning's rise to continuing calm post-election, which makes a change from events elsewhere, and resultant hope for a resolution to the tax impasse.

[niceyman1] 24/2/2011 10:27

A decent bounce on fundementals - oil price going through the roof and tullow have lots of it in the ground+ also volume is starting to pick up .

I know its been said by many before {including me} i really do feel that Ugandan tax resolution is immenient!

[sillyname] 23/2/2011 13:48

Africa Oil closes farmout with Tullow Oil on Blocks 12A and 13T
Wednesday, Feb 23, 2011

Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to announce that it has now closed on the final two blocks out of the previously announced five block farmout transaction with Tullow Oil plc ("Tullow"). The Company and Tullow have now closed farmouts related to the South Omo Block (Ethiopia) and Blocks 10A, 10BB, 12A and 13T (Kenya). Tullow has assumed the role of operator on all of these blocks..


Tullow paid an aggregate of US$1,686,432 to Africa Oil to acquire its interest in Blocks 12A and 13T. Each party will be responsible for its working interest share of future joint venture expenditures in these blocks.

Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "We are pleased to have completed our multi-block transaction with Tullow, who have arguably been the most successful exploration company in Africa, if not the world, over the past decade. We see great synergies with the use of the technical and operational expertise they have gained in their nearby Uganda Lake Albert Graben project. The transaction also means that any resultant discoveries will be operated by one of the main partners in the proposed pipeline project to export crude from this highly prospective developing region. With their proven success in Africa, combined with the East African Rift Basin assets that Africa Oil brings to the deal, we look forward to the implementation of a successful exploration program in the months and years to come."

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Puntland (Somalia). Africa Oil's East African holdings are in what is considered a truly world-class exploration play fairway. The Company's total gross land package in this prolific region is in excess of 350,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Tullow Albert Graben oil discovery in neighbouring Uganda. Similar to the Albert Graben play model, Africa Oil's concessions have older wells, a legacy database, and host numerous oil seeps indicating a proven petroleum system. Good quality existing seismic show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI"..

[ringer12] 23/2/2011 13:38

"A drilling rig is already on the way to the region from the Gulf of Mexico, McCoss told reporters on the sidelines of the Energy Institute conference in London. It is unclear how long the well will take to drill because of the unknown geology of the area, he said."


Smally.15522. Yes I agree that is what is hoped for but thae RNS also states the above which is slightly contradictory.

[5mally] 23/2/2011 09:19

ringer12 - 22 Feb'11 - 17:01 - 15517 of 15521
Fr. Guiana looks a bit of a stab in the dark! Geology unknown

As I understand the geology of Ghana is mirrored across the Atlantic off Guyana

so it is very promising......
gla dyor

[ben chod] 22/2/2011 21:42

this smells a bit why would CNOOC walkaway perhaps we will find out more on the 9th

[eipgam] 22/2/2011 21:11

Interesting.... holding out for more money?

U.K.-based Tullow Oil PLC (TLW.LN) has turned down an oil exploration partnership proposal from China's CNOOC (CEO) in at least five blocks in Kenya, government officials said Tuesday.

Tullow has declined to sell a 20% stake in its five blocks in the Lake Turkan Rift Basin--currently at an exploration stage--to CNOOC, saying that it's too early to enter any deal, a Kenyan Energy Ministry official, who asked not to be named, said Tuesday. CNOOC previously explored unsuccessfully for oil in Kenya, then exited all of its Kenyan licenses. Yet it offered in January to buy a stake in Tullow's Kenyan licenses.

The Kenyan Western Rift Valley has similar geological properties to Uganda's Lake Albertine Rift, Martin Mwaisakenyi Heya, Kenya's commissioner in charge of petroleum, said last week. The discovery of oil in Uganda's Lake Albertine Rift Basin has spurred greater interest in Kenya's oil sector, prompting more international companies to apply for exploration licenses, Heya said.

Tullow Oil has already notified the Kenyan government and CNOOC of its position, but the U.K. explorer may consider a partnership with CNOOC in the future if Tullow adds value to the assets by discovering oil there, a Tullow official and a Kenyan government official said.

A Tullow spokesman declined to comment.

A CNOOC spokeswoman said she could not immediately comment on the matter.

CNOOC exited Kenyan oil exploration after three years of extensive exploration activities with disappointing results. It first entered Kenya's oil sector in 2004, acquiring licenses in six blocks. But the company has relinquished the licenses to the government, exiting its last block in December last year. Despite the exit, Kenyan government officials say that CNOOC has been trying to buy an interest in Tullow's Kenyan licenses.

Even as it exited Kenya, CNOOC struck a partnership deal with Tullow and Total SA (TOT) in neighboring Uganda, where at least 1 billion barrels of oil have been discovered. That deal, however, has been hampered by a protracted tax dispute between Uganda's government and Heritage Oil PLC (HOIL.LN), Tullow's former Uganda partner.

CNOOC is also interested in acquiring stakes on the Congolese side of the Lake Albertine Rift, Ugandan government officials have said.

This year, Tullow is planning to conduct five seismic surveys in its Kenyan licenses to determine rock structures and drilling targets, a Tullow company official has said. The company also plans to drill at least one well in Kenya before the end of 2011.

Kenya has 34 oil blocks. It has so far licensed 22 blocks.

The Kenyan government is expected to issue exploration licenses to U.K.-based integrated gas company Bg Group (BG.LN) and to Dominion Petroleum (DMPTF) by April.

-By Nicholas Bariyo, contributing to Dow Jones Newswires; 256-75-2624615 [e-mail]