Member Info for Davstock

I would like to think the Investor relations team at Tullow would be able to rebut this in some way as they are in regular contact with these institutions which are clearly pushing the boundaries of their position by advocating such a massive downgrade at this time!!!

Downgraded to 24p target price when the business is being turned around and oil is in recovery is downright criminal.

https://www.modernghana.com/news/1005556/covid-19-50-more-jubilee-field-petroleum-workers.html

The price is now less than it was on 6th April!!!

This will now speed up the deal, they can now go ahead and finalise the buyout.

I would have thought it would have reacted a little better than this?

Just under 150 at the time.

I was in Ophir Energy when they were taking over and this has the same feel to it?
The price has been in limbo for a month now which doesn't seem right when oil has rocketed!
What I learned from the Ophir saga was when someone shows interest in buying the board jumps at the chance to get themselves a big pay off and an easy way out.
I hope my fears are wrong as I for one would lose out on a takeover as I did in Ophir!!!

TLW would be expecting this after the last time, so legally should be watertight.

The old sale of $900 million, TLW were only ever getting $100 mil upfront then two $50 million installments over years. The Rest ($700 Mil) was getting kept by Total for the pipeline works so for the Government to dispute on tax and hold up the project for years when TLW were spending almost all of the money on the project seems crazy!!!

My concern is it looks like back in 2017 TLW came to an agreement to settle at $200 odd million and now it's only $17 mil.

Is it a coincidence that the share price has been in limbo since the new court case was raised?

https://www.monitor.co.ug/News/National/Court-summons-3-firms-over-Tullow-oil-tax-case/688334-5561802-djmluc/index.html

Thoughts on this?

With the performance of Brent, it should be near impossible to stop this at least being in positive territory!

Something going on here?

Don't think a rights issue is on the table, I think when they sell more assets there's more chance of the opposite and a share buyback. This would allow them to use the shares for a rights issue in the future when needed?

This almost feels like the share is being held back for a takeover?

I take it, it's a bad thing for Tullow when oil rockets for 3 weeks straight???

If you had told me 4 weeks ago Brent would be $36.5, I would have sold everything and everyone to buy more expecting a massive rise!!!

Stake

Exxon buys 50% stake in Surname block.

It doesn't affect Tullow but shows that there's an appetite for the big oilers wanting a piece of that area.
TLW should have no problem farming down bits of their stack for healthy compensation.

Oil up $6 in the last 5 days and now above TLW breakeven!
TLW down over the last 5 days???

https://www.youtube.com/watch?v=lA0hyfw1qBA&t=840s

Interesting webinar about the next steps on the Uganda project.

It doesn't mean anything, it is standard in every company for directors to sell to avoid tax!

But I would have thought with the size of the salary he reserves form TLW he should have taken the tax hit just this time!!!

Yes, but the position TLW is in you would have thought he would have taken the hit for the good of the company!!!

Very strange for the CFO to sell half his holding in a company that he is trying to fix???

The Directors should be buying not selling!!!