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Strange on one hand they are downgrading them and on the other, they are saying ''We would expect widespread credit support???

Things are starting to align!

A start of more oil cutbacks today.
Vaccinations in Britain and the states pushing ahead now with Europe starting to get its act together as well.
All shorts all over will be getting very nervous about what's going on in the markets.

There's a lot of talk from certain individuals about a shortfall in funds but what they are missing out on is Tullow is making around 500k extra every day on the price of oil at present and that will obviously rise fast with an increase in prices.

The RBL can be released anytime from tomorrow.

The month extension was because it was arranged straight after the turn of the year and then straight into a new lockdown , which made it more difficult to get it all together and so they needed more time to finalise the deal.
The deal can complete at anytime in Feb.

Tullows cmd forecast average was 65k and the updated was 63k - only 2k different!
Tullow have always been poor with their announcements, they should have mentioned that by year end the production will be upped to 70k and rising going forward.
With the streamlined business and the higher oil forecast there will be more than enough to achieve the plan!

Very poor show Slift!

Trotting out falsehoods and speculation on cash raise, when a lot of us true investors are in regular contact with the company and know this is not to be the case.

All they are doing is renegotiating their future debt finance, which businesses do every day.

The start of Feb and onwards should start to shore up the oil futures.

The Saudi's are cutting an extra 1 million from the start of next week for the next two months and every day more people around the world are being vaccinated.

Tiny Driller Skyrockets 959% After Reddit Craze Spreads to Oil

https://au.finance.yahoo.com/news/tiny-driller-skyrockets-959-reddit-230207703.html

https://www.independent.co.ug/oil-final-investment-decision-expected-by-end-of-march-minister/

True Super
Lol

Tullow is right now deep into negotiations with the banks and financers and it will become clear in the coming weeks, but if anyone doubts or are not sure what they are trying to agree on - I suggest they drop them an email and ask.

It seems strange to debate something that's already known?

Exactly Super

They have adopted an open and transparent business now, so they wouldn't say that they are not going for RI or Equity swap on debt then just go ahead and do it!

They have even said that they get regular offers for their multiple assets but now don't need to rush to sell anything!

Nothing has changed in the business plan since CMD except they have adjusted the 2021 bopd by 3k and the price of oil has jumped to a level that nobody had predicted at this present time.

The plan to increase production to 70k by 2022 and then continue to increase thereafter is still the plan.

Can confirm - spoke to Tullow and they have reassured me that there is no fundraising needed or is in their plans, and it will be a straightforward debt refinancing!

BARCLAYS RAISES TULLOW OIL PRICE TARGET TO 34 (32) PENCE - 'EQUAL WEIGHT'

No worries on RBL

It's January and the world is back in lockdown again, which is making doing any kind of business difficult. Everything is taking a lot longer to organise in lockdown. They all need a little extra time to complete!

Tullow is in a totally different position to PMO.

Tullow has the money to pay off its 2021 debt commitments and they have high-quality assets to produce from to be able to pay off the future debt.

They will get the RBL done with no problems and they'll get an extension on the future debt payments.

Thoughts going into this important period for Tullow.

It has been 14 months since Tullow started the restructuring of the business, which was 4-5 months before any of its peers had started. They have gone through 3 rounds of cuts since then. The cost of running Tullow now is a fraction of what it was back then. The market is ignoring this at present and focusing only on debt repayment. When Tullow sorts the new debt plan in the coming days, it will allow the market to see Tullow's value as one of the very few oil companies that can make a profit on low oil prices. The work that went into Tullow streamlining the business to the level they have has not been appreciated by most!

Brent $55.6

I'd hate to see this when oil goes down!!!

The drilling has started!

https://www.oedigital.com/news/484778-tullow-starts-drilling-ops-at-gvn-1-exploration-well-offshore-suriname

The next few days are going to be massive for Tullow'

Suriname drilling just about to start
Trading Update
RBL
Future Re-Financing of debt payments.