Member Info for Davstock

Pictet Asset Management has increased its short position by 0.37%

Not great!!!

It was all agreed by all parties before they announced the sale.

TLW and the Ugandan government fell out over the tax years ago, so I don't think they are in any hurry to help out Tullow now.
The government has agreed on the tax it will get from the deal so this should have been done by now!!!

I just hope over the weekend Patrick Pouyanne can convince the Ugandan government to finalise the deal!

https://observer.ug/businessnews/66525-total-ceo-pouyanne-seeks-to-solve-uganda-oil-deadlock

Movement in Uganda!

https://observer.ug/businessnews/66525-total-ceo-pouyanne-seeks-to-solve-uganda-oil-deadlock

The Uganda deal is the key that opens a lot of doors that allow them to choose which way is best.

They could reduce 20% of the debt straightway / Use it as a bargaining tool to refinance the debt / Pay what they need to and reinvest what's left.

Who knows but it gives them proper options for the first time in their crisis?

The drops have been way overdone, its dropped multiple time in 12 months, so at worst it should be just ticking along at a higher price than this and just waiting on some concrete news to determine which way it should go!

Uganda has been a drag on the price.
They need the proceeds to show the market that they have a real say on the direction and future of TLW.
The completion will make a massive difference.

They usually put a recording on the website later on.

Also, no plans for rights Issue.

All the bad news was already known, I never heard anything that I didn't already know!

What I took from the call:

Ruhal came across very knowledgable.
Uganda almost over the line.
Uganda puts them in a position that they don't need to sell other assets at fire-sale prices, which is what I've been waiting hear.
Ghana, less than 15% been taking out to date and have an extensive infrastructure that makes it very exciting. They are preparing fresh thinking on Jubilee southeast, which makes it more compelling.
They seem to very confident about CMD.

Yes, read it a couple of times now and I also question the journalism!

In Kenya, I fear they may struggle to court any interest in the asset in these times?

Out:
I know how you feel, I'm in very heavy in here too!

JMAX:
That's my biggest fear too. I think when the Uganda finance comes in it'll make them a more attractive T/O target!

Slightly depressing sorry!

https://www.enverus.com/blog/tullow-torn-to-pieces-or-swallowed-whole/

In more normal times when someone made a large discovery right next to your acreage, it would help push up your stock.
Not any more!

No, I think they said it was too heavy to have any true value?

ExxonMobil has just announced another oil discovery in Guyana!

I think its harder not to find oil in Guyana than to find it?

If Rahul can put a bit of stability into Tullow with a forward-thinking plan tomorrow and with a half-billion at his disposal and a little bit of luck in Suriname, Tullow could be in a far better position in a few months!

https://oilprice.com/Energy/Crude-Oil/Big-Oil-Sees-Major-Potential-In-Suriname.html

PMO's plans have dragged Tullow down a lot lower than it would be before their own results, so the market should appreciate when TLW dismisses or does not even mention any kind of IR or dilution.

At least after Wednesday, Tullow will go up or down on its own merit from whatever business plan they come out with.

You have the comments from people who have purchased at the higher levels and are trying to see positives in any news and then there are the others who jump on any negative news and try and drag the price down.

My own opinion on this is that you will never see the price in the pounds range again unless there is a major prolonged spike in oil prices, but on the other hand I do think the price should recovery some of its losses with the right guidance from the managment.

The more info and chat on the board the better so keep it up!

Regards to Uganda, the sale is 100% done IMO, as usual the government is dragging its heels.
Ntomme-9, It will be interesting to hear what they have to say about that, I would like to think that it is the first of many new wells in the area?

News taking from another forum.

The Seven Borealis pipelaying vessel is due to dock at the Jubilee Field tomorrow morning.