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lenders could insist on a debt for equity swap in view of the lower projected cash flow and/or rights issue.
with such high net debt this is not in companies hands.
If no offer rumours circulate then the assets are pure toxic stuff. PMO is a lot safer as it’s major assets are not in Africa! Who really wants to buy African assets which would be hard to finance plus political nightmare except..........May be a Chinese / African company but they all want to buy tech, tech, tech!
Members have already commented on this subject:
"Afren was a complete different ball game, corrupt management stealing the cash from under the noses of shareholders and corrupt government aiding and abetting the deceit . the SFO still following the case up I believe , this is nothing in Comparison to AFREN,
Ppl mentioning afren have a small memory they were producing 25kbpd if that and even that was made up.. with $1.7 billion in debt. Tullow at its worse has 70kbpd. Kenya /uganda etc. Afren couldnt pay its bills. Tullow has 1 billion liquidity which means real debt stands at $1.9 billion which in relative terms means we are now valued less than pmo
AFren directors went to jail... nothing to do remotely with what’s going on here
collapse' of oil explorer
26 Sep 2017 · The former leadership of Afren have been charged with a $400m (£300m) fraud that allegedly led to the collapse of the former FTSE 250 oil explorer.
Nobody is saying tlw hasn't got problems, but it's got a lot of cash in the bank, and rich assets.
Thus time to sort out these issues.
Today was overdone. Calm heads will see value hear. The panic is over."
SUPER POST
Agreed, Hotshot.
It's quite despicable.
I'm looking for an entry point as low as I can get, but would never talk down a share to try and make it happen.
People's motives are clear here I see.. 10p and mentioning Afren.. To spook and invite panic. No thought for people in at 200p... Hopefully a good recovery starts tomorrow for the Lth's. GLA.
Im going back in my bunker dont know why i keep coming here. Need to smoke everytime i come on here..... this is worth way more than 40p. You will know this when they sell Uganda which at 22% was $900 million to tullow. At 33% means?
You do realise if tullow decide not to spend any money next year the FCF is $500 million yes?
I think the bums already squeaked...
$150m free cash flow with declining production and $2.8bn debt....squeaky bum time
Members have already commented on this subject:
"Afren was a complete different ball game, corrupt management stealing the cash from under the noses of shareholders and corrupt government aiding and abetting the deceit . the SFO still following the case up I believe , this is nothing in Comparison to AFREN,
Ppl mentioning afren have a small memory they were producing 25kbpd if that and even that was made up.. with $1.7 billion in debt. Tullow at its worse has 70kbpd. Kenya /uganda etc. Afren couldnt pay its bills. Tullow has 1 billion liquidity which means real debt stands at $1.9 billion which in relative terms means we are now valued less than pmo
AFren directors went to jail... nothing to do remotely with what’s going on here
collapse' of oil explorer
26 Sep 2017 · The former leadership of Afren have been charged with a $400m (£300m) fraud that allegedly led to the collapse of the former FTSE 250 oil explorer.
Nobody is saying tlw hasn't got problems, but it's got a lot of cash in the bank, and rich assets.
Thus time to sort out these issues.
Today was overdone. Calm heads will see value hear. The panic is over."
Assets for sale. Kenya uganda can wipe out $1.5 billion easy.
Fair value?
At worst, probably double the Mcap, which makes it look a bargain.
But it's more about sentiment at the moment.
10p?
I very much doubt it.
Afren plc was an international independent oil exploration and production company. It was formerly fully listed on the London Stock Exchange but is now in administration.
Happy to buy at 10p for a punt. Anyone know fair value with all the debt?