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"or a bid eg Total or CNOCC"
just speculating. Even Total must run the numbers where acquiring tlw gets the UG cash back, refi their own balance sheet, and restructure/ write down combined entity so they can move forward with car batteries. Someone should be asking that at Total and if the metrics and stars align, bingo!

..or a bid eg Total or CNOCC.
Seems like a stranded asset that throws off cash. Not just the debt holders can see that?

This management team are ultra cautious in the turnaround.
The risk around servicing the debt is lower imo.
Dont think debt holders will find a more generous yield so do they think the oil price and production can service the debt ad infinitum. Seems to be moving slowly and relentlessly that way

Interesting. TLW will recover its sp. GME down c44% tonight. Was down 66% earlier in the session..

Cant do any harm for fca to do a root and branch review of risk to curent short positions declared. I imagine reddit traders will pay uk tax while short interests trade offshore and avoid/ minimise tax.

$75m in the bank Q1.
I wonder if we can report it in the current balance sheet as a contingent gain?

BARCLAYS RAISES TULLOW OIL PRICE TARGET TO 34 (32) PENCE - 'EQUAL WEIGHT'
https://www.lse.co.uk/news/TLW/

the shorts will close 1st

cant buy? They are just helping themselves if you sell

Its not the pis selling, its the short algo ratatatat. Can take it as low as they want but have to close sometime..

lol, probably the short closing. Back up we go then?

Agree, CEO set it up . Of course , if the balance sheet is just a tidy up and not £1.6Bn write down..

"Despite the challenges that 2020 presented, Tullow delivered production in line with expectations, executed major reductions to its cost-base and reduced net debt through the Uganda asset sale. Tullow has a busy year ahead as we begin implementing the business plan that we laid out at our Capital Markets Day. The plan is focused on ensuring that Tullow's producing assets in West Africa reach their full potential. We will leverage the new plan and our reduced cost base to generate positive free cash flow at current commodity prices, drive down our net debt and deliver a robust balance sheet."

Looks like the refi will be agreed in feb or when the accounting stats structured to confirm. Aimo

Its Rahul and Dorothys reputations so I am not expecting anything but meeting or exceeding guidance. $55 or $56 oil should bolster their confidence too. Good if their is additional news/ guidance about refi too

'..be optimistic that the update will miraculously shoot the SP north .'

I will be more than happy if it doesnt shoot the sp south.
'Steady as she goes Mr Christian'

there were a few spooks in the chat today

Have they taken the price down to fill those orders?

'Recurring revenue increased by 4.7% to £408m, supported by software subscription growth of 11.3% to £303m (Q1 20: £272m). As a result, subscription penetration increased to 68% (FY20: 65%).'

Swap

way oversold imo.
c.£1.3bn cash , net asset 2.6bn...market value £1bn?

Interesting article and concludes
'Should there be any output additions over the course of 2021-2025, they would come from Tullow’s Greater Jubilee production ramp-up and not new projects'