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I asked the IR team and they said the new breakeven was $35, that was a couple of months ago.

Not sure what next year's breakeven price will be, but from 2021 they had forecast the cuts would kick in, and the company would start to save $125 million per year going forward. Since then tho they have started the third round of cost-cutting, so the last report is already out of date, and the savings will be higher and the new breakeven lower.

I've asked them a couple of times over the last few months and they've all said that a RI is the last thing in their thoughts. They said that they are not like similar companies in that they have a large portfolio with high quality assets to fall back on?

The way I Took it from The last update was that if the got the Uganda deal done along with the cuts they have done, they wouldn't rush and fire sale any other assets. As for the 2022 debt repayment not sure?

There's been a lot of cut and paste and lazy journalism around Tullow.

I agree There's a lot of work to do and there's a lot of work that's been done.

They are doing what all journalists do when writing about Tollow, they only talk about past negitive events in the company.

In all the articles I've read this year, the content
is only about the troubles the company are in.

They have never once writing about all the work and cost savings over the last 12 months the company have been doing!

https://www.irishtimes.com/business/tullow-oil-s-new-boss-faces-difficult-pitch-to-win-over-investors-next-week-1.4414940

Definitely,

I know Tullow's IR team read these blogs and I would just like to remind them that a CMD is all about the positives a company can deliver and it's not a day for overly highlighting the doom and gloom scenario that could happen if X Y and Z happens in the future.

CMD is a tool for a company to promote their company.

With the Uganda deal completed last week, we had people say the SP will rocket, and then you had the people say that it is priced in. But neither happened, the market is waiting on the future plans the board has in place before reacting to the deal.

The CMD will be the deciding factor.

We are getting positive news of vaccines coming out weekly now and if Opec+ extends the cuts in the coming days the shorters will have no choice but to start closing their positions. They have been relying on the lockdowns over the world to keep oil stocks down. They were betting on the Uganda deal stumbling too!

But the biggest thing for me is I think these companies are underestimating the work Tullow has done over the last year to streamline the business for the future.

I Also asked about RI, and they said it's not even something they are considering just now.

It looks like Rahul has taken the Kenya asset by the scruff of the neck along with the other assets over the last few months.

I spoke to Tullow and they didn't give much away but did say they are confident with all the work that has been done in the background and are sure the business will be in a much better place in the coming months.

Getting ready for CMD.

A Couple of weeks ago Tullow submitted a new proposed plans for the oil.

https://www.argusmedia.com/en/news/2159716-tullow-targets-kenya-fid-in-2022-first-oil-2024?backToResults=true

That's a lot quicker than I was expecting. Setting up for CMD.

https://www.argusmedia.com/en/news/2159716-tullow-targets-kenya-fid-in-2022-first-oil-2024?backToResults=true

Now the Uganda deal is completed and now behind Tullow, the share price is needing to know the direction the board wants to take the company - which should be known on CMD.

The rise from the deal has been held back by the lack of detail that investors have just now. It's just a pity that the deal and CMD couldn't have been arranged for the same week, but timing is not been Tullow's forte! The share is in the hands of the market until then!

I also think if Total hadn't had set their heart on buying it, They would have found it almost impossible to sell an oil asset that is landlocked by thousands of miles and 2 countries!

I think in the current circumstance and oil climate, they have done well to get the price they did and with the output add-ons. If they were starting to sell it now, they wouldn't get the deal they have got.

You just have to take a look at PMO to see it's not easy to raise that massive amount and to get it with a non-producing asset that would have taken years and billions of dollars to see any returns is some achievement!

I wasn't expecting it to rocket but I did think it would have a better rise on relief the sale finally completed!

I thought Rahul's comments leaned on the negative side of the sale about mixed emotions. I would have thought a more positive outlook on the sale was in order?

I'm expecting the funds to land into Tullow's account sometime on Monday.

This article is a good example of why Tullow should bring a detailed and strong RNS out when the funds land.

These companies will latch on to the negatives that are in updates and regurgitated it over and over again until they hear different.

It would help stop these articles that pop up every so often and even stop companies like Moody's only having months old info to rely on.

This is just lazy journalism.

To say That the Uganda deal could still fall through is from an old article!!!
The Tullow has confirmed that the deal is now completed.

I don't like pointing the finger but Tullow's Investor Relations team needs a real overhaul.

You have last year RNS's that totally misled the investors and now the first truly positive news they have had to pass on and they bugger it up again. To say the funds will be transferred in a few days and then when investors contact them about it, they say we hope Total will send the money early is just not professional.

Tullow has gone down 10 out of the last 13 trading days since and the wording in the RNS has definitely contributed to that drop!