Member Info for Davstock

It's like a showcase for the company and its assets.

The board will break down all assets and show they're true potential that we may not see from looking in.
They will also layout their business plan and their financial projections for the coming years to the banks and new investors.

Giving the date of 25th Nov for CMD is a big positive for me. Like most, I was expected they would need to take this to the end of Q4. So doing it in 6 weeks' time tells me that they're getting all the elements together and that Uganda is just about to complete.

Here is a section from an article out today:

In a note, Davy stockbrokers said that the passing of Tullow's second debt redetermination this year is "encouraging".

"It removes an element of uncertainty and allows Tullow to continue to focus on adapting to the current low oil price environment," the stockbrokers said.

The end of 2019 and 2020 so far has been a difficult time for Tullow with reserve and resource write-downs due to extremely depressed oil and gas prices.

Senior management also changed during this period, and a major group review was put in place with widespread cost reductions.

"The culmination of this review and how new management sees Tullow evolving and realising value from its asset base is due to be laid out at the Capital Markets Day," Davy said.

The stockbrokers said this will also include the optimal route to reducing the debt profile, which stood at just over $3 billion by the middle of 2020.

"Not surprisingly, we think this CMD is more important and relevant than most such events," Davy added.

Down!

Shareholders will start to jump over to TLW now they can't make their money back there!

https://www.independent.co.ug/oil-pipeline-tenders-launched-pouyanne/

Total has launched the pipeline tender and wants FID by December / Ugandan Gov have signed the pipeline deal with Total and then the Tanzanian Gov. In all this activity I think they have forgotten to get the first stage signed off first?

Rahul should be banging on the Ugandan Gov door demanding the completion of this deal now!

It's usually announced on the 3rd - 5th of the new term month.

RBL announcement on Monday, so I would expect a push for that.

Should be released on Monday.

Now!

Marshall Wace has lowered their short by .1%

Not a lot but better than nothing!

This is using any reason to head lower, any PMO news down we go / small downgrade down we go.

The Boards silence and putting off any proper info until year-end is killing this share. I'm trying not to put a negative spin on this as I'm invested in here but the board must change tactic going forward.

Also, I know they don't want to bring any negative attention to themselves but they should be addressing the old board members who are mostly still in their position who were policing the company when all the bad decisions and lies were happen!

The completion of Uganda will break the link between them. It will give TLW leverage to take control back.

Tullow's getting dragged down with PMO news again!!!

An RNS on RBL can land tomorrow onwards and not any later than mid-next week.

Don't think it will move the SP as it did in April but should help make it a bit more solid.

Just added 150,779, We should be hovering around the bottom now. Oil price over the next couple of months won't do us any favors I think but the self-help that should start to happen anytime now should!

This has been relentless.

I hope the board members are suitably embarrassed with this price?
Maybe we're not paying them enough!!!

RRR

It will put a large percentage rise on the news but more important is it will put TLW back in control of the ship again and allow them to make decisions on a number of ways to take the company forward.
It should also put a bottom on the share.

Not sure why TLW is being punished more than PMO on most days?
When you take the position both companies have got themselves in there are striking differences in their predicaments.

TLW
Producing 10000 more barrels a day so can handle more debt.
Potential to increase upstream to 100000 with the assets they already have.
self-financing by selling assets.
500 million about to land into their bank account.
A world-class producing asset in Ghana and massive potential in other assets held.

PMO
Having to raise funds from various places, RI/ banks.
Dilution of share price by around 3 times when completed.
Struggling to up output on existing assets owned.
Having to go back to BP to ask for a further discount.

It's a mystery to me?

That's the way I see it. I think Rahul has seen this as a strong future asset,
They will farm down a large % of it at some point before work starts.

Just went into auction!