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Bounce - Should see a nice bounce before close.
May see the dizzy heights of 26p.
Coincidence that the Bond Tender completes on Monday, and all this NEWS flow due soon.
Imagine if we get a tender for all of the Bonds? 55.5% of $800 Million = $444 Million, and we receive a nice lump sum from Kenya farm-out to pay the total back...
Something to think about over the weekend.
Wouldn't want to be out of this over the weekend.
GL ALL
Should find out Monday, whether it was successful.
I would of imagined, that the Board would have already been in dialogue with the BOND holders, and given the heads up before the tender offer.
Let's hope that the tender is over subscribed, and Tullow can cancel above the $75 Million debt at 55.5% of the value.
$75 X 55.5% = $135 Million of debt cleared for only $75 Million, giving an uplift in value of $60 Million, which is about 13% of market cap (SP should reflect this)
Jubilee South East should have the taps turned on next week, hopefully an RNS stating this, along with the gas agreement & the Amended Development plan for TEN.
DYOR & IMHO
GL ALL
Ha Ha
Yes touched a nerve, needs to see a doctor, the man needs some serious help.
Got a feeling though, he’s past medication, perhaps a padded room with no internet will do the world of good, and clear up the sychotic behaviour??
Gl all
It’s a long term agreement, that will be a catalyst to the company’s share price. We have 150-200 bcf NET on TEN of bookable reserves.
There is 1.5 TCF of gas in place, which when the government sign the contract, this reserves will become reflected in the Balance sheet, giving the the SP a re-rate.
Now that gas prices are starting to stabilise, this agreement is looking more likely to be signed.
Could come any day, I do know that if signed, you won’t see the likes of 25p again.
As per AGM update on 24/05/24
Good engagement ongoing with the Government of Ghana ahead of the planned formal submission of an amendment to the TEN Plan of Development (PoD) and securing a Gas Sales Agreement by mid-year. The amended TEN (PoD) sets out a clear pathway for creating value from the TEN fields alongside the proposed commercial agreement for the long-term supply of gas in Ghana from the TEN and Jubilee fields. A successful outcome would result in a significant volume of bookable gas reserves (in the range of 150-200 bcf net) on TEN.
Gl all
Now BURN 🔥 🔥 🔥 you SHORTER SCUM
Https://nation.africa/kenya/business/kenya-to-gazette-five-new-oil-blocks-for-auction--4260638
AGM Webcast.
https://www.tullowoil.com/investors/shareholder-centre/general-meetings/
First time I’ve heard Rahul mention Shareholder returns.
Excess of $800 million FCF at $80 poo over the next 2 years.
17,000 BOPD from 1 well drilled on Jubilee, above expectations and In excess of over 100k BOPD by year-end
Only 25p BARGAIN
Gl all
This is the reason the big oilers want to distance themselves from projects involving ecological issues from development.
Tullow on the other hand, are a minion, compared to the IOC ‘s like TOTAL.
Gl all
https://www.bbc.co.uk/news/business-65609795
This is my take on the Kenya update.
Total already have enough risk/ environmental pressure with the Uganda development, they are not going to have another project distracting the Uganda development, for a small 25% stake.
Africa oil have their pockets empty, with the Venus Discovery, (which coincidentally Tullow gave up their share, prior to the discovery).
The strategic partner won’t want a 50% stake, they want the full 100%.
Kenya government have said in the past that more partners involved would make it complicated sale.
Basically the government want a cut, and what’s the best way, then agree the sale to a state oil company like SINOPEC, 20% to Kenya remainder to ONG/SIN.
Tullow get the back costs of development, of $1.8 Billion, enough to be debt free, and able to fully develop Jubilee/Ten Gas reserves.
Everyone’s a winner.
Expecting an RNS tomorrow with more information on this, as the last two days has been leaked, prior to tomorrow’s operational update.
Going to be an interesting AGM Webinar tomorrow, questions already to go.
Also POO is on the rise.
Could be our time…
Gl all
The Board considers that owning 100% of the Project creates more optionality, gives Tullow more flexibility in the ongoing process to secure strategic partners, creates a simpler Joint Venture Partnership and streamlines project delivery. This is a low-cost development project that has the potential to unlock material value for Kenya.