Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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.
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.
Slightly depressing sorry!
https://www.enverus.com/blog/tullow-torn-to-pieces-or-swallowed-whole/
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?