The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
All this corporate action recently, along with Q3 Gas agreement, Kenya farm out, and Octobers Tax hearing, all lead me to believe that a T/O is coming.
Streamlining the assets, not only to make a T/O More manageable, with less countries involved, but also to add book value to the offer price.
Why wouldn’t we be a target, ONG can have the whole lot for $4-$5 Billion
Gl all
IT’s 7kboepd, so the full year is still 7kboepd.
The ceremony is due in Q3, I’d expect the gas agreement and TEN development plan to be agreed at the same time as JSE Ceremony.
Gl all
Https://www.the-star.co.ke/news/2023-07-27-kenya-invites-russia-to-explore-gas-and-oil/
Gl all
Kenya FDP will get signed off. IMHO
Alot of positive NEWS coming out of Kenya in the last few weeks, which makes me believe a deal has been struck, just waiting on the legal documents to be drawn up.
The last article, says it will be done before September, which only leaves 5 weeks to go.
What makes me believe this, is that the 22.5% NOC share has been already disclosed, but I haven't seen this anywhere in Tullow's past docuemts?
The Share Price is starting to factor in a positive outcome, expect a jump up from 34 - 60p in no time.
HOLD FOR GOLD GUYS
GL ALL
With 2 further wells on Jubilee to come online this year, easily see 120k BOPD Gross by year-end.
1H production figures.
Jubilee 28k
Ten. 11k
Other 16k
Total 54k average
2H Production
Jubilee 42k (28 x 50% = 42 Gross production 42/39x100 =107k BOPD GROSS
TEN 11k
Other 16k
Total 69k BOPD + Gas sales temporary agreement of 6k
= 75k BOPD
Still only a 400 Million market cap business????
Won’t be for long
Gl all
Https://www.fool.co.uk/2023/07/17/are-tullow-oil-shares-a-no-brainer-buy-at-30p/
Gl all
Well worth a look over the complexity of the project Kenya.
Gl all
https://www.tullowoil.com/download_file/view/938/
https://www.tullowoil.com/download_file/view/940/
https://www.tullowoil.com/download_file/view/939/
Nice to see the Board, shouting the good news out with an RNS.
Already producing over 100k, with 2 more wells to come on line.
Each well produces average of 17k BOPD, so I make it 134k BOPD by year-end.
Gl all
The comment below is interesting from the tweet
“I don't think the Indians are wavering cos its not yet in their hands. FID report just left EPRA after approval, it’s going to Parliament for approval before President can assent. Then Tullow can sell onto to India on cabinet approval. Just following Petroleum Law timelines”
Production at the Jubilee field is expected to rise through to year-end as these new wells come online. The partnership expects new wells to increase gross production at Jubilee by over 50% from the first quarter to more than 110,000 bopd by the end of 2023.
Like the sound of "MORE THAN" 110,000 BOPD By the end of this year.
It's going to start sinking in with the ii, and see a material step up in SP.
GL ALL
Just a little additional comment from our joint venture partner.
“We believe Jubilee has the potential to deliver in excess of a billion barrels of oil equivalent gross, generating material value for the people of Ghana, the partnership and our investors."
Gl all
After 6 years of planning, development and now production, the day is finally here.
This is a key moment, as now the undeveloped reserves can now be included into the Balance Sheet reserves, thus, bringing down the gearing further.
Gl all