Member Info for Camkite

Timmmmmmmmmmmyyyy

Nows not the time to be shorting, ups and downs 4/10% intraday swings and have such little to do with the direction this is headed.

Which is up.

Money landing in the bank and the November presentation of plans and strategy all to look forward too.

Shortest will be closing and buying soon enough.

Nickel kudos to you my man.

I will NEVER understand why anyone decides to short a share at 15p that’s ALREADY falllen from £3

What fooking planet are they living on lol.

Took some more.

Wedge is ready to break in the next week or 2

Sorry 21.7

I’m a week early ;)

Yep close over 31.7 and we’re above resistance.

Absolutely no reason why this won’t start to make its way back to 40p - all bad news is well and truely stomped in, the turnaround has started.

Misssed an article from yahoo or something !? Lol

If we break 32p and hold it on the weekly that would be lovely.

This is one of the best goldies to load up on before it lists on aim or another market. So cheap considering who’s next door, grades & how far along they are - would be 2/3p+ already if it was better known.

Beauty.

Plenty more to come in the near term.

Done all & gl.

Slift your comment

“Tullow can really unlock value, then this company will really become a low cost and be very competitive even in todays low price market.”

And this seems to me the tact the CEO is taking hence why the 30/40p near term predictions hardly seem pie in the sky numbers.

Raise organic (all be it from sales) funds, maintain/manage debt, restructure, expand & cut costs.

The man with the plan seems to be well on the case imo.

So rather than just “Reducing debt of course” servicing debt & not drawing down MORE debt to bring forward or enhance the NPV and future growth of tullow portfolio / improve income / cash flow or further asset sale of the company could be the tactic being taken.

Seems bloody likely imo!

Reducing debt alone isn’t going to “ build Tullow into a competitive and successful business once again.”

Especially when growing involves capital expenditure.

Wtfdik.

“ Uganda
Following the announcement on 23 April 2020 that Tullow had agreed the sale of its assets in Uganda to Total for $500 million in cash on completion, $75 million in cash following FID, plus post first oil contingent payments, the transaction is progressing as planned with completion expected before the year-end.”

So transaction (almost) complete ahead of schedule... will this bring the below forward ?? Very early Q1 2021 ?

“ South America
In Suriname, the Goliathberg-Voltzberg North well in Block 47 is now planned to be drilled in the first quarter of 2021, testing dual targets in the Cretaceous turbidite play in approximately 1,900 metres of water. The well will be drilled by the Stena Forth drillship.”

Timescale set in relation to completion sale of Ugandan asset ?

“ Data reprocessing and evaluation continues in Guyana to support future drilling activity. In Peru, Tullow has been awarded blocks Z67 and Z68 in the Trujillo basin, targeting a completely new petroleum system and new plays.”

“ In Namibia, Tullow is awaiting the outcome of the Venus-1 well which is expected to be drilled by Total in the fourth quarter of 2020 on a block to the south of Tullow's PEL-90 acreage before deciding next steps.”

Lots to muse over & all reasons why there’s no reason given the debt is manageable this could hit 40p sooner than we think.

Time will tell.

Slift - exactly, which was the point to me question. Debt reduction & a level of growth for the long term viability & ultimately success. Ceo seems hungry to succeed to me.

"Despite the very tough conditions in the first half of this year, we have successfully delivered reliable production and major, sustainable reductions to our cost base. We are also close to completing the important sale of our interests in Uganda. The quality of Tullow's assets remains robust. Since my arrival as CEO, we have been developing new plans for our business, with the support of our Joint Venture Partners and expert advisors. These plans will deliver enhanced value from our assets to benefit all our stakeholders including our host countries and investors. We will host a Capital Markets Day towards the end of 2020 at which we will update the market on these plans to deliver on Tullow's true potential."

Since becoming CEO on 1 July, I have been impressed by the quality of Tullow's people and the potential of our assets and I am confident that we can build Tullow into a competitive and successful business once again. Despite the challenging external environment in the first half of the year, Tullow has performed well; delivering production in line with forecast, agreeing the sale of the Ugandan assets and re-shaping the Group's structure and cost base. In the second half of 2020 our focus will remain on continuing to deliver safe and reliable production from West Africa, reducing debt and building a cost effective and efficient organisation that can compete in a low oil price environment."

All of which requires capital, slimlining & restructuring HENCE the reason for my question.

ROCKLAWN - not always the wisest move to Reduce debt with cash flow & sales proceeds provided it can be serviced over a period of time.

Using that money to reduce costings (for example) could prove much more favourable for the long term viability of company.

REDUCE DEBT OF COURSE - no s**t it’s a business.

Apart from the big elephant of debt in the room... any one know how tullow I tend on using the $500m ?

Also. It’s a 5 as it stands. The market is ever evolving & things change quick based on what we know atm I’d say 4 weeks 30/35p

New management, turnaround has begun. Imo

If / once we break 23p & hold we will see it pretty swiftly... how long it takes to break & hold we have to wait and see.

30p why is this so hard to believe ? Lol.

They have debt but debt can be manageable, if it’s manageable then it matters less... read accounts much of debt was for one offs not ongoings.

In the next few days will have more money put into the bank than the current market cap with an added $75m and royalties ongoing (no overheads on those) looks like a damn savvy play by mgmt to me.

Short term oil will drop a little bit over all against a weaker dollar its going up!!