Member Info for Beetham

Spot on latpulldown, The story is simple, A recovery play.
New CEO has many City Funds contacts from his London based investment banking days. He will be tipping them to start accumulating.
Exciting times to holding here.

Tony , Clueless
Fallen by the wayside.
Slift
Talking proper knowledge research.
Beetham
A fundamental belief in the company.
Other holders.
Good luck. This is the most exciting investment I’ve ever been involved/ Invested in. Stephen

Well I've seen it fall 8% with no news and low volume so why not the other way for a change !

RBL agreement signed off RNS will light the fuse if they announce it.

I'm buying more tomorrow. Fantastic company with great assets and NOW great leadership. Rahul appointment by Dorothy was a masterstroke and his presentation of results last week will have the bravest of the open shorts starting to worry about their exit strategy here. All good and well done to all holders who have kept their nerve here. Stephen

In November 2016, the British oil conglomerate, Tullow Oil Plc, indicated that it would sign an agreement with the Government of Kenya, before the end of 2016, which would pave the way for the construction of the 865 kilometres (537 mi) pipeline.

So based on costs stated for UG pipeline per mile of $3.88M Kenya pipeline would cost circa $2B

I Like this bit and see this project as key for Tullow with Rahul's stated ambition of making it profitable at much lower oil prices. Very exciting. I hope Rahul doesn't sell any of our stake in this project.

KCSPOG coordinator Charles Wanguhu said even the suspension of the planned sale of stake by Tullow may have stemmed from the sweet incentives the government offered the British oil explorer, who now has a better bargain in selling stake whenever the suspension is lifted.

This is the real news this weekend, Completion imminent on UG so then all the worry beads can buy back in at 30p plus !

cluelesstim
'Hence everything relies on UG proceeds coming through by Q4'

No. Banks will also be fine with sale completing in Q1,21, Stop being so dramatic and concerned after selling out last week.

Rahul started his career as a Petroleum Engineer, before moving into investment banking where he led teams at Morgan Stanley and Merrill Lynch.

Big fuss being made on here about RBL tests, Our new guy will have all that sorted while the market is asleep to the real value here so the only time to accumulate a serious holding in Tullow is now. I for one have done and will continue to do just that. S

Me Too Tony, I've added 4M shares here today, His grasp of the potential is unreal, A Super cool CEO ! , Stephen

For sure $60 Brent will work !

Slift, What do you think about this from the final circular ?

The Convertible Bond Terms and Conditions provide that each US$200,000 principal amount of a Bond is convertible into preference shares of the Bond Issuer (the “Preference Shares”) and each Preference Share will be allotted at a price equal to the paid-up value of US$200,000 (a “Conversion Right”). This Conversion Right may be exercised at the option of a bondholder from 22 August 2016 to the close of business on the date falling seven days prior to 12 July 2021 or any other relevant maturity date, subject to certain conditions and exceptions. All Preference Shares issued will be automatically and mandatorily transferred to the Parent Bond Guarantor who will issue or transfer and deliver Tullow Shares to the bondholder in consideration for the receipt of Preference Shares. The calculation agent will determine the number of Tullow Shares allotted by reference to an exchange price which may be adjusted in accordance with the Convertible Bond Terms and Conditions. The initial exchange price was US$3.52 per Tullow Share.

Slift, I'm pretty sure the company has NO intention of increasing debt right now and many options and intentions of decreasing it significantly going forward. Uganda $560M is first step but a very important one as will sort $300M bond payment even if Kenya delayed.

US$210 million of commitments were cancelled as at 8 June 2020, reducing available commitments to US$1.98 billion.

Following a voluntary cancellation request issued by the Company on 24 March 2020, US$210 million of commitments were cancelled as at 31 March 2020, which reduced available commitments to US$2.19 billion. A further voluntary cancellation request was issued by the Company on 29 May 2020, such that a further US$210 million of commitments were cancelled as at 8 June 2020, reducing available commitments to US$1.98 billion. Commitments under the RBL Facility amortise according to a pre-agreed schedule of amortisation, scheduled for each 1 April and 1 October occurring before the final maturity date. Due to the voluntary cancellation of commitments taking commitments below the amortisation amount scheduled for 1 October 2020, the next amortisation of approximately US$2 million is scheduled for 1 April 2021. The Company can also voluntarily cancel the whole or any part (being a minimum amount of US$10 million and an integral multiple of US$10 million) of the commitments upon delivering at least five business days’ notice to the facility agent.

On 21 April 2020, the Company announced the appointment of Rahul Dhir as the new Chief Executive Officer. This appointment will be effective from 1 July 2020. Mr Dhir currently holds 1,346,000 Tullow Shares, which represent 0.09540 per cent. of the total issued share capital of Tullow as at the Latest Practicable Date.

Hi Tony, Holding a lot here and follow and enjoy yourself and Sifts posts so thank you both very much.

What value as at today would you ascribe to the above two assets if sold off to raise funds ?
What would you like to see happen with them ?
Regards, Stephen

Hey Paddy I agree. My average is - £3M and I’m still the largest shareholder in the company so I’m not too stressed!

Paddy. Seems like a lot of names suddenly popping up saying they were holding from that time and before and just seems strange to me that they never posted back then !