Member Info for antonvb

Yes. They going to default on the bonds. That is exactly why non exec director of Tullow Roald Goethe bought $1m of bonds last week.

You really are an idiot.

Uncertainty is the problem here…. the markets just don’t like it.

You see the difference between them and us is they can trade in the hour before open. So they close their positions during a time of uncertainty and if a positive RNS drops at 7am one day they simply buy back before the market opens to the plebs. Plus they close up shop for the Christmas holidays and close positions. We now just have to wait it out till the new year and listen to the desperados de-ramping. The likes of Krakenoil who by their own admission has no holdings in Tullow yet feels the need to constantly tell us to get out. But fails to mention they jumped from Tullow around 2020 to Enquest and got badly burnt by the UK governments windfall tax and there now seems no hope of Enquest ever recovering.

Happy holidays everyone.

Bipolar egomaniac it seems….

Getting sucked down the rabbit hole of engaging with nutters, so will take the advice of Tman75 and ignore it. Over and out till there’s something newsworthy.

Tankers …. covering for the shorts from their basement while the rest of them head off to Dubai, Maldives, Bahamas, etc.

Have a suspicion it’s another of JMAX’s alias … kind of has the same bipolar posting style.

Holding pattern

We’re in a holding part the moment. Should have been at least 5% up after last nights RNS. Traders knocked off for the holidays it seems….. blast off in January 2025.

Rhd3 is the half year results presentation Rahul stated that even if they lost there were avenues to appeal the decision.

He can’t buy shares if there’s news imminent as there will be an embargo.

Probably the same darks forces that pumped and dumped UOG I’m guessing.

Sorry Tman75 ;-)

No one seems to want UOG at 0.1p. Strange as an absolute bargain given it was 0,36p not so long ago when JMAX was ramping it.

Hence the reason why that as soon as there were rumours in the press about a KOS offer they had to put out an RNS.

They’re no different to us PI’s. Those long give valuations in the 50’s and those short give valuations in the teens. Everyone has an agenda. As long as we get the right arbitration result we’ll be just fine no matter what anyone says. Only one week till Christmas so I think it’s unlikely we’ll get the result before the end of the year.

The share price dropped on the merger RNS so glad to see the back of it. KIS don’t exactly have deep pockets so the offer was never going to be great and unlikely to get approved by holders.

Here’s an interesting statement:

"Whilst we believe that there were benefits to a deal, including substantial cost synergies...it is now clear that discussions were highly preliminary and progress was contingent on GTA start-up, Tullow's tax arbitration and favourable deal terms (which had not been agreed)," Stifel analysts said.

Probably reading too much into this, however this seems to suggest the deal fell apart as favourable terms could not be agreed i.e.the offer was sh ite (which we expected). We know they don’t know the arbitration outcome yet, but are confident. If TLW was distressed they’d have taken any offer.

ZZZZZZZ give it a rest for ffs

PS how’s your ENQ shares doing. Think they’ll ever get back to over 30p?

Https://www.herbertsmithfreehills.com/notes/arbitration/2016-07/we-will-pay-for-delays-icc-clampdown-on-their-award-scrutiny-process

"Draft arbitral awards are submitted by tribunals to the ICC Court for scrutiny before parties are notified of the final result. The rationale is that an objective review of the draft award by the ICC Court (which consists of experienced counsel and arbitrators) can help spot errors and identify gaps or a lack of clarity in the tribunal's reasoning, leading to higher quality awards (and may reduce the risk of challenge or non-enforcement). The scrutiny process does not affect "the arbitral tribunal's liberty of decision-making" or usurp the tribunal's substantive decision-making power (see Article 33 of the ICC Rules 2012). "

The first step is of course for the tribunal's draft award to be submitted to the ICC Court for scrutiny;

the ICC Secretariat will then inform the parties and tribunal that the draft award will be scrutinised at one of the ICC Court's next sessions;

the draft award will be scrutinised at: (a) a Committee Session (by three ICC Court members); (b) a monthly Plenary Session of the full ICC Court (most appropriate for matters, among others, involving a state or state entity, where there is a dissenting arbitrator so involving policy issues); or (c) at both if the draft award is referred from a Committee Session to be dealt with by Plenary review;

the ICC Court will complete the scrutiny process between three and four weeks from receipt of the draft award (extended to between five and six weeks for Plenary review);

after the scrutiny process is complete, the ICC Secretariat will inform the parties and tribunal that the draft award is either approved or requires further scrutiny; and

any departure from this timetable "not attributable to exceptional circumstances beyond the [ICC] Court's control" will result in a reduction on the amount of administrative fees due to the ICC Court of up to 20% depending on the length of the delay. Decisions regarding the percentage reduction will be made by the ICC Court.

Https://ir.design-portfolio.co.uk/viewer/96/68810

"The Board remains confident in Tullow's standalone business. Tullow is well positioned to optimise its capital structure and continues to progress plans to address its remaining debt maturities, following receipt of the outcome on the Branch Profits Remittance tax arbitration. Tullow has been informed by the ICC that it has received the draft decision from the arbitration tribunal and the ICC is now undertaking its customary final review. The Company expects to be notified of the results of the award imminently and further updates will be made in due course."

This clear states they don't know the outcome yet. Place your bets...... Turkey and truffles for Christmas or a nice meal down at the homeless shelter.

Topped up at 21p., as think it might not get to 20p. A 10% drop is a psychological barrier, together with the 20p psychological resistance where it gets too cheap. The drop happened hard, fast and on what should be positive news increasing the share price. KOS more than likely withdrew as TLW weren't prepared to give the company away. If it was on the tax arbitration we'd have to have had an RNS on that. I think we're not getting a decision on that till 2025. Maybe Rahul wanted this merger and no one else at TLW did. Who knows, but got to be a be a buy at this price.

I know I shouldn't laugh, however can't help myself. I knew if they decided not to make an offer we'd drop 10%. We drop 10% on the offer and 10% when they withdraw the offer. You just can't make this sh ite up can you .....

Might get my opportunity to top up at 20p after all.

Sold :-)

TLW holders are not going to roll over for a low ball offer. Why would they? Most of the major holders are well under water here. They would only agree a deal that benefits them or they’ll just keep holding, unless it was a last resort for TLW to survive. And I just don’t see us at that point anytime soon.