Firering Strategic Minerals: From explorer to producer. Watch the video here.
Https://energycapitalpower.com/ghana-oil-and-gas-outlook-2023-2027/
The Jubilee South East field, situated in Ghana’s Cape Three Points concession area, is expected to average 37,000 bpd by the end of 2023, and is operated by oil and gas exploration company Tullow Oil (38.98%), deepwater exploration and production company Kosmos Energy (38.61%); the GNPC (19.69%); and South Africa’s National Oil Company (NOC) PetroSA (2.72%).
Meanwhile, the potential discovery of significant oil and gas deposits within the Ntomme Far West Development have resulted in the implementation of a pre-feasibility analysis of the field, with the drilling of a proposed well poised to commence this year.
India's ONGC Videsh Ltd (OVL) is waiting for clarity on the equity structure of a block in the Lokichar basin in Kenya from Tullow Oil before bidding
It’s a case of how much of the pie they want to buy.
Key word is “Number of interested parties”.
BIDDING WAR FOR OUR BLOCKS
“The prospective partners remain engaged and detailed farm-out discussions continue with a number of companies,” a Tullow spokesperson said by email. The company remains focused on securing a partnership this year.
GL ALL
ONGC Videsh Reconsiders Plan to Buy Stake in Kenya Oil Project
https://www.bloomberg.com/news/articles/2023-07-04/ongc-videsh-reconsiders-plan-to-buy-stake-in-kenya-oil-project-ljoi0d5b
This could pave the way for more institutional investors to buy in.
Gl all
https://www.tullowoil.com/investors/corporate-bond-and-credit-rating/
Jubilee South East Development, is due to come on line next week, adding circa. 30K BOPD GROSS (Around an extra 12K BOPD Net to Tullow) This has been ongoing for over a year, and will tie in all the new wells previously been drilled to around 110K BOPD from Jubile alone, adding significant cash flows for H2 2023.
Also we have Ghana Gas agreement due to be signed from 1st July 2023, adding resources and balance sheet incremental amounts, due to long term contract agreement.
Kenya FID is due to be passed to the government for approval, any time soon.
Just a few catalyst events on the cards this next quarter.
GL ALL
Its only a small amount, but it's a case of how much the other directors are going to BUY at these prices.
Should see a BLUE DAY, with expectation of more director purchases( well there is quite a few BOD's in Tullow)
GL ALL
Could see the balance of the Bond paid before year-end
Well Rahul did say 2023, would be the year of de-leveraging.
Bring it on.
We continue to progress a range of options to address the remainder of the 2025 Notes, and with the start-up of the Jubilee South East development around mid-year we will generate material free cash flow in the second half of the year and beyond.
GL ALL