Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Tullow with $575 Million in the bank and a royalty share of production revenues from its Ugandan asset sale and consequential debt reduction is worth a lot more than the 2.5p that the market wishes to ascribe to this news at the moment.
Its all building up nicely to Capital Markets Day on 25th November.
Nickle yup :)
With all the Government-related conditions to closing having been satisfied, Tullow expects the transaction to close in the coming days after completing certain customary pre-closing steps with Total. Tullow will provide a further update once the transaction has closed and funds have been received.
So expect this to drop at anytime now.........watch the SP react!
Because nothing is certain until finalized and the cash is banked,
575 million isn't priced in yet.
Wait for the re-rating here - hope some managed to add at these levels!
Sorry no info with last 2 posts browser acting up
Michaeliz1
Michaeliz1
The mkt has known for a while re the £500m. It will soon be in the bank. So why do you think the sp will go up.
The market wants confirmation it's in the TLW coffers. It'll land any minute and the price will most certainly climb.
In the meantime, don't think that Rahul Dhir has said that other disposals will happen to the tune of $500m. None of those have been rns'd yet, it'll rocket when they start coming through. Shorts are going to get blown out of the water again so make the most of any weakness here
So now you are playing it down when yesterday it was all this pretendy and cryptic I know something you don’t crap?
“What more can they tell us”
Well they can tell us that they actually have £500m in the bank.
The market HATES uncertainty and until that money is in the bank... it remains UNCERTAIN.
I think that’s quite substantial.
StanleyPro
They haven't told us everything...just hold and wait not long now ..glah
What can they tell us that we don't already know?
Total update imminent - watch the SP react - expecting 30p+
Total are one of the biggest energy players in the world.
Remember TLW will rns when they cleared, $500m doesn't take one day lol
OptimisticStuey will close sub 21 by Friday bell...glah
Agree Slift, good results over at BP.
It could be a good week for oil!
GLA
I'd be happy with push back towards 21p before the RNS drops (hopefully tomorrow).
Probably just reading into it too much :'
BP results look good, so should influence this sector going forwards.
Other majors to report earnings this week.
GLA
So this statement is bothering me:
"Tullow will provide a further update once the transaction has closed and funds have been received."
Why on earth would that be bothering you? It's just saying that once they have concluded the deal and got the money in the bank they will inform the market.
wow so many nervous and impatient people on here. Some must have put all of their money and life savings on this one horse.
Could also see a preliminary comment about CMD and how the $500m has improved liquidity
@Antharry
Absolutely correct. As a business owner who signs deals to buys and sells, the documentation is a big thing but completion of the deal with the money is in, is when we celebrate.
Anyone that says that it is factored in is wrong. Shares go up and down on sentiment and this will go up when the RNS comes in.
Yes, i agree.
I believe it will be confirmation of receipt of funds.
Thank you for your very informative posts, Slift.