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TLW Tullow Oil Plc

-0.70 (-2.13%)
Last Updated: 09:17:21
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tullow Oil Plc LSE:TLW London Ordinary Share GB0001500809 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.70 -2.13% 32.24 1,740,354 09:17:21
Bid Price Offer Price High Price Low Price Open Price
32.20 32.38 32.50 31.00 32.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 1.63B USD -109.6M USD -0.0754 -4.30 478.99M
Last Trade Time Trade Type Trade Size Trade Price Currency
09:17:13 AT 4,497 32.24 GBX

Tullow Oil (TLW) Latest News

Tullow Oil (TLW) Discussions and Chat

Tullow Oil Forums and Chat

Date Time Title Posts
15/7/202409:13Tullow Oil PLC - Poised for a Takeover?60,406
03/7/202420:24TULLOW OIL4,365
21/10/202215:22The All New Tullow Thread326
04/3/202109:53TULLOW OIL - worth another look?4,388

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Tullow Oil (TLW) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Tullow Oil (TLW) Top Chat Posts

Top Posts
Posted at 15/7/2024 09:20 by Tullow Oil Daily Update
Tullow Oil Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TLW. The last closing price for Tullow Oil was 32.94p.
Tullow Oil currently has 1,454,137,162 shares in issue. The market capitalisation of Tullow Oil is £471,431,268.
Tullow Oil has a price to earnings ratio (PE ratio) of -4.30.
This morning TLW shares opened at 32.50p
Posted at 21/6/2024 11:24 by xxnjr
OTOH it's difficult to imagine Tullow remaining independent.

7% bonds are partly being repaid with $400m of 15% debt.
10.25% bonds will be replaced but at what cost?

Surely TLW would be in a much better position, transformed even, if it were absorbed by an undertaking with a lower cost of capital? Sadly though, not suggesting there will be a knock out take out price.

There doesn't need to be a knock out take out price.

Mr Dhir now has about 24.5m shares. As a result of awards, like this

Even at todays SP, Mr Dhir will make a truck load of money. An unfortunate aspect of the scheme AFAICS is, the lower the share price at time of award the more shares the CEO receives, as 50% of annual bonus is awarded not as cash, but as shares.

(Awarded Bonus divided by low spare price = higher no. of shares granted.)
Posted at 12/6/2024 18:45 by xxnjr
To be fair Dorothy only temporarily stepped in when McDade was 'let go'. OK, leading up to that moment, the entire BOD (including Dorothy) had been asleep. But she was only really a caretaker stand in, until a permanent CEO was selected. That person being Rahul. And his brief was to sort out the mess. The current share price says the market is not impressed with our CEO's performance. Nobody, absolutely nobody, would have believed at the time of Rahul's appointment that almost one and a half thousand days later the share price would be more or less the same!
Posted at 10/6/2024 16:24 by xxnjr
Apologies. Going down memory lane today. Another start up by former TLW directors, on an old 'high impact' TLW block, which apparently today now holds 7 billion barrels potential and could host 6 major FPSO developments.....!

Their share price?...... 0.2p
Posted at 31/5/2024 11:10 by xxnjr
No such issues for Seplat +10% this am. It seems their 2022 deal to acquire Exxon's onshore acreage in Nigeria is edging towards the finishing line

Seplat's 2nd largest shareholder are Petrolin with 81m shares (13.77%)

Petrolin is owned by Samuel Dossou-Aworet

Samuel Dossou-Aworet is also TLW's largest shareholder with 243.6m shares (16.8%)

In 2004 TLW bought Energy Africa from Samuel Dossou-Aworet.

Energy Africa was the gift that kept giving for TLW as a lot of TLW's African production in the intervening 20 yrs came from those assets.

If it goes through Seplat will be quite a large producer.

It helps to have friends in Africa! But it seems we didn't receive an invite.
Posted at 16/5/2024 08:20 by ashkv
HBR, SQZ, PTAL etc appear dirt cheap in comparison to TLW - surprised share price hasn't corrected to sub 30p based on this horrendous update re low guidance for 2024 being the new bar!!!

Share Price -> 36.25p
TLW share price vs 52 Week low of 23.94p on 1 June 23 -> 51.42%
TLW share price vs 52 Week High of 39.94p on 6 Sep 23 -> -9.24%
Brent Price -> $83.20
Outstanding Shares -> 1,456,705,746
Market Cap GBP -> £528,055,833
GBPUSD -> 1.27
Market Cap USD -> $670,630,908
Net Debt USD (YE 2023 Per March 2024 RNS) -> $1,608,000,000
TLW Q1 2024 Production [Excluding 7kboepd of Gas] -> 52,000
TLW 2024 Low-Guidance Excluding 7kboepd gas [Revised Per Q1 Trading Update - May 2024] -> 55,000
TLW 2023 Average Production (Excluding 6kboepd Gas) -> 57,000
TLW 2022 Average Production -> 61,100
Enterprise Value (USD) -> $2,278,630,908
EV/BARREL-USD Q1 2024 Production [Excluding 7kboepd of Gas] -> $43,820
EV/BARREL-USD 2024 Low Guidance Excluding 7kboepd gas [Low Guidance Indicated per Q1 2024 Update RNS] -> $41,430
EV/BARREL-USD 2023 Average Production (Excluding 6kboepd Gas) -> $39,976
EV/BARREL-USD 2022 Average Production -> $37,293
Abandonment / Decommissioning Liability (FY 2023 Results) -> $377,900,000
EV/BARREL (2023 Guidance) with Decommissioning Liability -> $46,606
2P Reserves per FY 2023 Results -> 212,000,000
Enterprise Value / 2P Reserves (Per Barrel) -> $10.75
EV (Including Decom)/2P (Per Barrel) -> $12.53
Posted at 14/3/2024 16:31 by xxnjr
The trouble with the new scheme "LTIP" as far as I can see is that it actually benefits the CEO to keep the share price low now. I'm not an expert but this seems to be how the new scheme works. (See page 76 onwards of 2022 Annual Report)

For illustrative purposes, assume

Base Salary: £600K.

TLW LTIP Bonus: 400% of base = £2.4m (split 150% cash/250% stock options)

250% of £600K = £1.5m in share options granted at todays SP

£1.5m/£0.275p = 5,454,545 options.

(Rahul was actually awarded 5,549,057 meaning the nominal face value was £0.2703p)

Had the share price been 75p today, the CEO would only have received

£1.5m/£0.75 = 2m options.

So by keeping the share price low, it appears the CEO gains more shares?

Todays rns then describes the award as "NIL" cost?

Anyway let's assume the share price gets to £1.

Todays CEO options grant would then be worth £5.5m

Had the share price been 75P today and reached £1 the 2m award options have been only worth £2m.

So afaics it's actually better for the CEO to keep the share price low now!!!!

I've already complained about the appallingly awful presentation our CEO gave at results.The result being share price fell and guess what? CEO appears to gain even more shares?

As I said I'm not an expert. Maybe I have this wrong. What do you guys think?.....
Posted at 06/3/2024 08:22 by hojjat
I won't be surprised to see share price above 60p.

TLW share price was over 120 when debt was over $4bln.
Posted at 22/2/2024 17:18 by xxnjr
TLW share price Performance 1331 days: -3p/share

Nvidia Stock Performance in first 90 mins trading today: +$102/share
Posted at 22/2/2024 16:33 by xxnjr
It has been a shocking performance. Rahul has been in the job 1,331 days now

Opening price on Day 1: 31.5p
Closing Price on Day 1331: 28.5p

Despite joining a company with (1) a completed decimated share price at the time of appointment and (2) the immense luck of having very high oil prices for most of his tenure

not one cent of value has been added to the company.

This is why I've recently alluded to the possibility that Rahul may get bored and move on. Don't laugh but his 9m options awarded on appointment are capped at £5 a share. Had the share price reached that level Rahul stood to make a cool £42m b4 tax. Getting back to £5 seems quite unlikely to me.

The prize our CEO was anticipating is no longer obtainable.
Posted at 06/2/2024 15:01 by xxnjr
You never know our CEO may just get bored and fire himself ;-)

Probably not though as Rahul currently has 17.8m (potentially 19m after next AGM) shares or stock options.

Bought with own cash

11/5/2020 1.346m at 26p = £350,000
20/6/2023 0.361m at 28.5p = £103,000
Total cost approx £450,000

Options awarded on appointment

3m at Nil Cost
3m at 0.2566p
3m at 0.5132p (all 9m vest 1/7/2025)

Bonus Awards as part of annual compensation
2020 TIP 319,316 shares at 54.76p face value
2021 TIP 1,104,269 shares at 54.95p ditto
2022 TIP 1,104,269 shares at 32.45p ditto
(As part annual bonus awarded in shares, not cash)

In summary

The own investment of £450,000 although up hasn't performed well.
The 9m stock options aren't performing well (only real value at current share price is in the 3m Nil cost).
The 2020 and 2021 bonus shares have lost 47% of their face value.
The 2022 bonus shares have lost 10%.

Don't really understand the new LTIP but Rahul received another 4.6m Nil Price shares under that at approx 27.5p face value


Our CEO really needs to get the share price north of 60P. Or fire himself.
Tullow Oil share price data is direct from the London Stock Exchange

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