Business as usual30 Jan 2021 08:32
Refinancing Update
Following the Capital Markets Day, at which Tullow's senior management presented a new business plan and operating strategy, the Group has started discussions with its creditors with regards to its debt refinancing options. As part of these discussions, Tullow and its lending banks have agreed to extend the redetermination of the Group's Reserve Base Lending facility, which was due to complete in January, by up to one month. This will allow for additional time to review the business plan and operating strategy.
What some are forgetting is that we are in the midst of an extensive National lockdown.
Rbl supported at when Brent was at 20 dollars and Brent is nearly at 60. In the coming years with lower production costs they will throwing off 500 to a billion in free cash flow per year :-)
I see an asset sale coming as has always been the plan. Horrendous week on the global markets and the ftse lost nearly 5%.
I see a nice bounce coming next week.