Member Info for Chris-

Betaville have released a new article on Okyo

Betaville released an uncooked alert on Marstons - as of 330pm Friday.

On the Nimmo article, I think it’s probably Carlyle with or without support of Sammy.

Who knows what stage they are at.

For what it’s worth, my view is
- heavy short term volatility, divorced from fundamentals (better than expected Ghana performance than kitchen sinking of production forecasts, 60 per cent hedge etc, available liquidity) but driven by next 3 months oil price
- more asset sales and/or full sale likely to happen
- I didn’t sell in last week’s volatility - as I take a longer term view

45k barrers per day are hedged at $57 in 2020. They won't have used the hedged at all in January fyi.
22k barrels hedged for 2021

No debt maturities until 2021.

This current volatility will pass.

It's takeover speculation, according to FT Alphaville.

Focusing on Ghana, Total is acquiring c. 27 percent of Jubilee and 14 percent of TEN for 2.5bn USD (Oxy / Andarko)...

TLW has a 35.5 percent stake in Jubilee and 47 percent stake in TEN.... and is operator on both.

The is significant value not being reflected. Simply can’t argue with TLW being seriously undervalued at these levels - especially given 2/3 of 2020 production is hedged.

It’s behind premium firewall so cannot read it

There is an alert on tullow on betaville; only for premium subscribers. Anyone read it?

if we take the previous Uganda deal as illustrative of the value in only one of TLW’s assets, TLW is seriously undervalued....

The deal assumed a 900M USD consideration (mixture of cash and deferred payment) for a c. 21.5 per cent interest in Uganda; TLW’s 33 percent stake is worth 1.4bn USD (as confirmed by CNOOC / Total etc).

And then there are the others!!!

subject says it all!

This is so oversold vs fundamentals

Wouldn’t be surprised if CNOOC took a look at the whole company

This is general weakness in the market - I’m not too concerned about TLW; big over-reaction

EZJ down 16 per cent

Betaville have just picked this up

Trade date was Friday

Latest RNS

Is there any view on timing?

When are the full year results?