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Tacotaco,
Wood Mac or the Germans are not involved. Its Diamond Offshore.
Global data industry out look 'South America, including the Falkland Islands, has the highest number of planned and announced floating production storage and offloading (FPSO) additions globally between 2019 and 2025, with 27 projects. This is followed by Africa, Asia and Europe with a respective 15, eight and seven FPSOs'
I have only bought 3000 shares on a small fry position but I would rather buy stock in a company applying common sense, governance and risk management when it comes to assets, the safety of staff and avoiding a blue horizon environmental disaster and not chasing after a production target. So the response to the company is overdone and it sends a bad message to oil companies and their investors. Tullow are responding to circumstances in the correct way.
Auson, i've been following up with Sea Lion since 2018 and spoken with Infield Systems, the upstream supply chain guys in Wood Mckensie, and an off shore engineer in a German Oilfield service company (dont remember the name TBH) otherwise the Major i usually visit are mostly not taking on new Deep Water projects and focusing on Vertically integrating Shale upstream within their own mid stream and down stream operations to optimize efficiency.
Im not aware of the FPSOs and details you just mentioned but the guys i speak to keep mentioning the lack of financing and interest because in this environment viable at 60 is very unattractive.
So in conclusion, these projects have not been scrapped just delayed indefinitely waiting favorable market conditions... this is why timeline keep being delayed... no one is in a hurry especially with demand uncertainty on the horizon.
If carapa comes in then by next 2 weeks.
Last time we were here was july 2017. 12th jan it was back on 238p. So took 6 months. We got 2 months so 190p by 12th jan.
The knives are out.
Tacotaco,
I don't know who you've spoken too, but there is already work booked in, 3 FPSOs being built for that area. Project is viable at $60 UKEF think Brent will average $65 so sound like they will think its viable too.
Auson Sea Lion (RKH) is dead for now... all E&P and Majors are focusing on low cost project and Shareholders Returns...
Sea Lion has been off the radars of all industry players (oilfield service providers, research house, even majors) i've spoken with simply on the basis that there is no economic incentive to develop it in such oil price environenment.
The project will come back to life at much higher oil prices but most importantly with the return of confidence in the sector... that last bit usually follows a period of sustained higher prices.
Morning all,
Bought 500 1.48ish
3 more to go if it continues south if not..hey ho.
GLA
just shows you that those predicting 1.39/1.30 talking rubbish to sought own agender
Nice buys pouring in :
10:12:28
148.83
55,000
£81.86k
At 151p will be a big 10% reversal tullows way imo
Tacotaco,
Only 8 posts and such wisdom and clarity ! please post more often ( preferably on the RKH board )
I think we might be in for a better day today.
20, 50 and 200DMA all above 200p.. lower bollinger band at 179.5p thats where SP should be now. MMs killed it.
well we have made it to 149 and let us see if it actually moves up a bit more.
tacotaco good point and very true in what you say...
Downbutnot out.... i specifically mentionned "wont recover anytime soon" and "start building a position"
i think most people try to catch a falling knife then forget to build a position after failing to catch the bottom...
No one will ever buy at the bottom nor will they sell at the top... need to accept it.
At the end of the day the impact on production is 5-10%... does it really warrant a 30%+ drop in SP??... NOT SO SURE...
just spotted this on the other Tullow board.. don't laugh its not funny!
"I always, always make the same mistake: I see the first drop as a bargain yet miss the chance to buy much lower.This will be my epitaph".
Hopefully and most probably overdone... but won’t recover any time soon.
Good entry point to start building a position.