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Don't expect a full recovery after Covid has ended IF WE SELL UGANDA for $575 millions, my comparison with REPSOL (not counting Guyana) gives me a best case scenario of 70p post Covid. DYOR
Holding Uganda for a decent offer.
You got 40 posts, who cares?
Who sets the price? A monopsonist? A monopolist?
A third of it's price?? For God's sake! POO hasn't fallen nearly as much (2/3 of it's price).
I don't know where do you get the idea that $575 is near reasonable for our stake in Uganda. It isn't!!
There is only one offer with a NDA (a non-disclousure agreement) Total didn't want bid, they prefer no competition, there is no "market conditions" when there is no market and there can be no market when there are no bidders when there is no roadshow!!
And I will vote against selling Uganda.
https://www.tullowoil.com/investors/shareholder-centre/general-meetings/
On the 15th of July in the next general meeting. I would appreciate if you vote against selling Uganda (for just $575 millions).
Why would it be suicidal?
You will make me happy and you will make yourselves happier, time will prove I am right!
Workers only care about their paycheck and some boards maybe care a bit about maximizing shareholders return (specially when they have a vested interest and they hold shares, unlike Cathy)
If we sell we have a guranteed loss over 50% of our net worth.
Cesna get a decent price for Uganda.
xel123 nasty is very unlikely and if it's nasty it may be nasty with or without the sale. And if we get a better price we may even make it through a nastier scenerio in a future.
Well it depends on the terms of the sale, vibiz. Not every sale is good just like not every buy is good.
1 in 10 people in this chat are shorter (in average) so if you don't understand is because maybe you don't want to.
I suppose one benefit of selling it to Total for $575m is that Total and Tullow are more likely to work together again (and there may come a time when Tullow gets a good deal?).
You really are naive, their shareholders won't care at all if we got scamed, it will be our loss and it will be their gain and they won't owe us ****. Except what it is written in the PSA agreement (a 1% contingent payment).
A bind contract is a n1 priority in business handshakes are worthless.
I am pleading not bulling, toothache.
The ramifications of selling Uganda (at $575 millions) is that it will deteriorate the fundamentals and other oil stocks like Repsol will become more attractive to hold thus hurting any medium term prospects of the share price to go above £1.
(New finance to refinance old debt)
"What is the ramifications to the company if we don’t sell?"
It depends, worst case scenario could be nasty, best case scenario we would have to cut CapEx and/or find new finance but we would soon be recieving a better offer.