Member Info for bluemoon71

I think Rahul deserves a lot of credit. He has defended equity holders through this refinancing process and has delivered on his promises to date. We have a deadweight of shorters who now need to decide what to do. Hang around and hope POO falls and Rahul fails to deliver on Ghana or move on. Next few weeks will tell. Either way as a lth, I'll be sleeping a lot better for some time to come.

Well said jj. Unfortunately none of those negatives help @Happy in the near term with his short.

With no RBL amortisation, gross debt down, but cost of 1.8B bond higher, will be interesting to see net effect on annual cost of financing. Any budding accountants want to educate the rest of us?

Short term going concern risk - removed
Risk of equity dilution/wipe out -removed
Risk of bond not being fully signed up -removed

This is now all about the business plan delivery and POO going forward. That's a big plus for LTH.

Bring on the recovery and gla lth

"What's left for the equity holders"? Erm....all the equity.

Happy, that is indeed what the redemption notice says. But, your original question was about a cut off date before the 14th May, which the redemption notice equally makes clear there isnt one.

You worry a lot for someone with only 1% of their portfolio in Tullow!

Within the next 7 days!

'22 bonds are trading with an ask of 102. This is happening, only question is the coupon.

Another reduction for Varde(-0.1%) and similar reduction by Odey....have they seen the light?

Varde continue their downward trend, another -0.11% on 30th April

You're very impatient Happy. Only a few days for all to be clear. Tick tock....

Desperation of shorters. If you've got "conflicting reports" please share sources.

The only issue is the coupon, which will be set at a level to ensure the bond offering gets taken up. That's how it works. It's happening

Forget my last post....incorrect info.

New bond expected coupon of between 5.875% - 6.625%....this is lower than current bonds. Saves a few quid on ongoing finance payments. All looking good. Hold

As a LTH there have been worrying times last 18 months. Today's RNS is welcome news, it's not a done deal yet but with so much liquidity globally looking for returns above rock bottom gilts, I'm confident this will be fully subscribed. Gla lth

Happy, it's such a small % of your portfolio you shouldn't worry! Market will give its view in 20 minutes

BP and RDSA have been treading water/slipping too on recent oil price firming. This is not Tullow specific. Big oil earnings reporting starts next week so I expect some positive news flow will help the sector

Only 1 answer. Shorters taking advantage of info vacuum before refinancing news

The refinancing is not dragging on and on. It has always been indicated with completion by end H1 2021.

Maybe Goldman or someone needed to liquidate some assets quickly following shenanigans in the US back end of last week? Very strange whatever it was.