Member Info for 1Sam1

Good update. And hopefully if all goes to plan increased production by next year.

Should see us closer to £1.50

You do realise that it's not only Tullow that's been badly performing over the past 3 weeks.

Do you actually look at market news? I.e. BP down. Ted Baker down. Cineworld down. IAG down. Super dry down. Boohoo down. And many more. The delta variant, inflation news from US,. Unseasonal weather in US are a number of reasons for poor performance.

Been a LTH. Bad news tanks the SP. Good news moves the SP south.

Not even Richard Branson's Virgin Galactic would be able to lift this one up.

How much more debt are we still in?

Been a LTH and this share is killing me...

As previously stated... SSDD.

Looks like it's going to be another one of those SSDD Thursday.

Same **** Different Day.

BP down 3.84% while Tullow down 5.19%.

but....

I still believe.... 90p soon.

SP is screwed if a price war starts.

Agree we should be over 70p by now.

But looks like many factors affecting oilers at moment, especially Tullow.

Worries about Inflation

International travel restrictions

No agreement from OPEC+ meeting

Plus Tullow has locked in their production at lower oil prices.

I think SP will rise next week towards the next update.

What we need to hear from Tullow board is an extremely good financial update, with debt reduction.

And

An increase in oil production from current levels which I believe is around 62kbpd.

If they announce any prod update then it will be an early Xmas.

All above in my opinion.

Oil $76 yet SP is red at moment.

I think this is the reasons...

https://www.cnbc.com/amp/2021/07/05/european-markets-start-the-week-cautiously-oil-in-focus-with-opec.html

I will take 89p by 3pm.

I am starting to feel fuzzy, warm and having tingling sensations.

Noticed a hair strand on my bald head. The coconut oil might actually be working...

Not again. Another down day.

Thus time whole market is red at moment...

I wish I had more to buy additional shares as my average is £1.50's

I may have to sell one of other shares which has done well for me. I would love to double bag on this one.

14th July. !!!!

From the AGM Statement:

Good operational progress across the Group

Group production to the end of May 2021 averaged c.62,000 bopd, in line with expectations. This figure reflects the completion of the sale of our Equatorial Guinea interests on 31 March 2021, with no production from these assets recorded past the first quarter. On 9 June 2021 we announced the sale completion of the Dussafu Marin permit in Gabon and we will adjust our full year guidance to reflect both these divestments in our upcoming Trading Statement on 14 July 2021.

YoungEngineer, yes that's correct but since then OPEC+ have got their act together and the Yanks are not pumping as much oil as they would usually do at the current oil price. Plus all the oil majors cut down on their exploration for current year. Bringing all the projects that were sidelined back into play will take a while. Plus with the write downs and losses from last and current year, I think the oil majors will want to recoup some money before going on spending spree.

On top of this is the migration towards renewables.

So hopefully with all the above, oil will hit $110 dollars by next year, Tullow oil will pump over 80k BPD and all shareholders will be happy.

I can then afford to pay to go to Turkey and get a hair transplant as I have tried coconut oil and nothing happened.

Never expected the SP to reach 58p this week. Over the past 18 months, the SP has shown pattern to always drop after a company update. The SP rises before the update and then drops. This is making my bald head even more smooth.

Don't know how much longer I can take the SP rollercoaster. But I am holding on.

What annoys me is the overreaction to negative news when the oil price is still over $72. At this price Tullow is still making loads a money.

I agree with Chughes92.

Comparing TB website to Superdry and you can instantly see the difference in their strategy. TB website to me is boring.

It's summer, have a summer line, no one in their right mind will be going back into office 5 days a week even after lockdown, except maybe bankers and those who enjoy going into office 5 days a week.

The market has changed.

From today's statement..

"Hedging continues to be an important part of our financial risk management strategy protecting against oil price volatility. We are building on this prudent
approach with an increase in the amount of production entitlement we protect to 75% for a period of 24 months from completing our debt refinancing in
May, and to 50% for another 12 months beyond that. We have been implementing our hedge requirements over the last few weeks and we have now
secured over 60% of the necessary hedge volumes. Of the new hedges that have been completed post the high-yield bond issue, we have achieved our target
floor of c.$55/bbl and weighted average collars of c.$69/bbl, with most recent hedge collars in excess of $70/bbl. Our total portfolio, when including our
previous near-term hedge position, has weighted average collars of c.$51-68/bbl, giving us robust downside protection as well as access to upside. We
remain on track to add the remaining hedge volumes by year end."

I can't tell if this good enough at current prices...

https://m.investing.com/commodities/brent-oil