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We won't recover from that sale.
Represent somewhere near 50% of our reserves and selling it will only cover 20% of our debt.
We will be taking a hit of $800 millions (1400-575) just for getting $575 millions in cash. If you think that we can recover from that with a debt of $3000 in a shrt period then you are dellusional.
Even with oil up, the share price will never recover if we sell Uganda for just $575 millions.
Up arrow and down arrows as ?
Don't follow DAILY oil prices.
Brent has been at $15, now it is at $40, in a year from now it will be closer to $60.
The reason why oil dropped was that Russia and Saudis had a trade war and the saudis flooded the oil market, they have now stopped their shipments to the US, Yemen attacking the saudis and the US removing their PATRIOT missiles might made saudis reconsider attacking the US shale (still US oil rigs down ??, great news for us)
also the Saudis need $80 per barrel to stabilize their accountings, if OPEC wants higher prices, with oil investments from oil majors going down(??), lower future production (??) and a recovery on demand (??) from Covid you can expect oil price to go up(??)
Do you have a cristal ball? No. Quit your gibbering.
You are not giving any value to anyone here.
All your comments are negative and baseless
Will cost us money.
Orindiuk has no proven reserves,so keep aiting because no one is going to offer anything now and we might not find anything.
Brent up today, move along
Birdy doesn't have much cash left, had to pay my taxes with my remaining savings.
And I am already too exposed to this share.
I will hold but not knowing the result of the vote I won't be pouring more money in and I don't feel like pouring more money right now.
Thanks Slift
Although I would rather know the opinion of shareholders (who have a stake) and what will their vote be in the 15th of July.
Don't understand why you are so eager beaver to sell at a 66% discount.
We will see
Holding Uganda for a better offer.
Exploration is risky and many exploration companies go bust or are the tarjects of a takeovers (at a discounted price) by major players.
If Uganda is sold for so little, I will still hold until I believe I can't get a somewhat decent price (for tax purposes and because even after selling Uganda there could be some value beyond the current share price) but I will get out sooner than I expected at a lower price if we don't get a fair price for Uganda.
I just call his bluff.
I knew he could easily be triggered.
Or else I filter you.
So mature, so fair.
Who started? He was threatening to filter me!
I don't threat if anything I will filter.
I don't like when try to censor me. And I don't censor anyone.
I don't like when people behave like attention seeking childs.
I just wrote that to trigger him. Now grow up!
If we hold Uganda 18 months we could get an offer closer to 1.4 billions and maybe Kennya close to 1 billion leaving Tullow debt free (or almost). And the stock would be worth around 300p (or more).
Counting on having luck in Guyana? I don't know about that, in November we found heavy oil, we might not find any oil or more heavy oil.
Net debt would remain at 1.3 (0.5 for Uganda 0.5 for Kenya and 0.5 for Guyana, 2.8 - 1.5 = 1.3) optimistically
At 1 billion net debt the share price would be around 140p
At 1.3 billions in debt in net debt the share price would be around 120p.
If we only raise 1 billion in proceedings net debt will be at least 1.8 billions (at 2 billions you can value the shares at 70p optimistically!)
The safest way to recover is by holding on to Uganda for a better offer the rest is depending on luck and exploration (which can be very very risky).