Tullow Oil Share Discussion Threads

[sogoesit] 09/9/2011 10:25

From magpie:
"Tullow and its partners have the capital to proceed rapidly with further appraisal and exploration in the area, he said."

But do WSX... in fact will WSX need money for the deepening and s/tracking of this well?
I hold to my 9p target on the view that this well would be logged but not tested.
S/tracking and coring is half-way to a test so I need to review in my mind whether WSX will have to raise cash now...

[eipgam] 09/9/2011 09:48

thanks doug.... that's an impressive doc. I wish I had a chance to read it before today.

[pr4w2b0y] 09/9/2011 09:47

Thanks dougdig - 9 Sep'11 - 09:33 - 16057 of 16059

I think todays dicovery used to be old Hardmans play or there abouts.

[eipgam] 09/9/2011 09:42

Tullow Oil PLC's (TLW.LN) new oil discovery offshore French Guiana is a major step forward, proving right the company's exploration strategy and potentially opening up a large new oil system, said Exploration Director Angus McCoss Friday.

The Zaedyus discovery proves Tullow's theory that geological structures offshore French Guiana, Guyana and Suriname in Latin America are similar to structures offshore West Africa, said McCoss in an interview with Dow Jones Newswires.

"This proves the Jubilee play is mirrored on the South American side of the Atlantic," said McCoss. Tullow and its partners have so far discovered around 1.4 billion barrels of oil in the Jubilee play offshore Ghana.

The geological system offshore Latin America is bigger than that offshore Ghana, said McCoss.

"There are at least half a dozen more of these Zaedyus type traps adjacent," and the chance of finding oil in them has increased, he said.

Tullow and its partners have the capital to proceed rapidly with further appraisal and exploration in the area, he said.

-By James Herron, Dow Jones Newswires; [phone]; [e-mail]

[spiv 1] 09/9/2011 09:37

God I wish i had bought more at 10.81 a few days ago!!

[dougdig] 09/9/2011 09:33

Nice! A bit of background:-

[eipgam] 09/9/2011 09:03

jolly good.

[mpclag] 09/9/2011 08:40

should have waited-why not hedge and just freeze your position?

[mercury123] 09/9/2011 08:38

To hold or sell - that is the question...

[mpclag] 09/9/2011 08:36

JUst hedged my holding at 13.50

[phillis] 09/9/2011 08:19

H

This is major confirmation of a new oil area

TLW worth £18-20

[hectorp] 09/9/2011 08:08

Well done holders, +90p.

[hectorp] 09/9/2011 08:06

Seems a rather strong over-reaction? ( I'd like some stock please!)

[mpclag] 09/9/2011 08:02

in auction-previous share price lows now history

[hectorp] 09/9/2011 08:00

TLW has come a long way from lows, however... and only holds around 22%.

[85gary] 09/9/2011 07:45

This big.....

"Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region," said Tullow's exploration director Angus McCoss.

[sogoesit] 09/9/2011 07:39

Alhamdullilah........!!!

[mpclag] 09/9/2011 07:39

Your missing the point-this proves there discovery the other side of the atlantic is even larger than 1st thought-Numbers could be so big I wouldn't start to guess a number.

[billytkid2] 09/9/2011 07:38

Great news.....looks like a few people were already aware of the find as per normal.

[85gary] 09/9/2011 07:38

I think this answers why they let Aminex have operatorship yesterday. Good move, otherwise they would be stretched. If Aminex find oil they have option to take it over, if gas sell out.

This is great news for Tullow and as oilretire points out....more to come.

[85gary] 09/9/2011 07:35

Any chance you can report back oilretire..tia

[oilretire] 09/9/2011 07:32

Still drilling too. Conference call should be a good listen.

[85gary] 09/9/2011 07:08

"The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana. Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region."