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The ownership exchange doesn't stop larger businesses from taking over smaller ones I'm afraid!

All of the countries would welcome a bigger player.

I was in Ophir Energy when they got taking over and it went through with no problem even tho I was sure that the shareholders would reject the offer!

The way I see it is anyone taking over Tullow now is getting the company for free with even money left over in the bank.

What they are taking over is the debt payments, which are spread over years.

So they are basically not paying anything upfront for Tullow but getting to pay for them on credit!

JMAX,
I think Tlw were trying to milk the announcement and stretch it over a couple of RNS's for maximum effect, but it's allowed the shorters a window of time between the RNS's to manipulate the share!

What concerns me is the share price has been kept low even after a major RNS last week.

With 500 million cash being deposited into their account and the way the company has successfully streamlined the business, I fear they have just become a far more attractive low ball takeover at these very low prices.

Tullow has done a would-be suitor a massive favour by paying off half the staff and tightening up the entire business already for them. They would be taking over a very streamline business.

Companies on the lookout for acquisitions will see how they can purchase Tullow for less than will be sitting in Tullows bank account.

This is the last thing I want to see happen!!!

Tullow maybe should have used the term weeks rather than the days it used - A little naive?

This article tells us a lot of what we already know about the deal but the last section (Tullow's Exit) is quite telling on how some parts of the Government were still trying to hold this deal back even now.

Tullow has done brilliantly to get this passed considering the obstacles that have been put in their way over the years!

This deal has definitely not been priced in yet.

https://www.independent.co.ug/total-now-biggest-shareholder-in-ugandas-oil-project/

This is an interesting read about Tullows history in Uganda and how difficult the Government has been over the years!

https://observer.ug/businessnews/67098-how-uganda-lost-out-in-lucrative-tullow-oil-deal

As Peel Hunt said yesterday: It is hard to overstate the importance of this deal!

So looking at the price it is sitting at just now, is nothing compared to what has just been achieved with the sale. If it had gone up to 50p it would still have to rise another 350% just to get to what it was 12 months ago. So there's a lot of room for this to rise!

Totally agree Scrod, I would imaging that most if not all will have made a lot already on this so hopefully, their interest wanes on more progression over the next few weeks.

I also agree about the RNS's being ignored. I thought when they appointed Rahul it as a great bit of business, but on the day it was released and the day he started I'm sure the share went down on both?

I would imaging at least the 300 million that's due next year. But what it does is give them back is control and leverage and more options now.

What yesterday's news did do for shareholders was for the first time since Dec they can forget about the stock and not worry it's going to go out of business tomorrow or the next day!

They have bought themselves almost 2 years to come up with a new plan!

I honestly see Uganda news as a gamechanger for TLW but the market seems to disagree?

The deal now looks a far better deal than it did back in April. You have to look around the industry and see there's not a lot of companies completing on 500 million deals just now!

Look at PMO, they tried everything to get a similar amount of money from many different avenues, but had no joy.

Tlw managed to do the deal without selling any producing assets or go to the investors for it.

Doing a deal like that in this present moment in time is like finding a needle in a haystack!

It's getting a bit depressing that it comes out with the most positive news it's had in the last year and it's at the same price it was 2 weeks ago.

It's reached No.2 in the shorter list in the UK, which in a world crisis shouldn't be allowed?

When there is a good chance the fund's completion RNS could drop tomorrow and Brent taking a step up now, this is getting totally manipulated.

Down again in anticipation of the funds hitting the bank account.

It happened on Tuesday before the news came out yesterday. This tactic has been happening for months.

Not trying to big this up but if you had told me a few months back that you would be able to buy TLW for 19p after they get the nod for Uganda and are about to get 500 Million in cash and they have saved the business for the foreseeable. I would have said you were mad!!!

To get this at this price after the sale is truly a bargain and will be a mystery in the coming months?

Will be interesting!

Funds to complete and dropped into the bank and almost as important is the forward-looking statement Rahul will bring out.

Total will pay $500m in cash on completion of the deal and a final $75m when a final investment decision on the project is made. Tullow may get further payments once production commences.

Analysts at Bank of Montreal said it will increase Tullow's liquidity to over $1bn.
"Tullow still has work to do to address its medium-term financing but we don't see a pinch point until mid-2022, meaning it has time, and in our view, options (disposals, tenders, refinancing, asset outperformance, oil price) to address any shortfall," they said.

https://oilprice.com/Energy/Energy-General/Theres-Nothing-That-Can-Stop-The-Worlds-Next-Oil-Hotspot.html

This is a total game-changer, don't let the price fluctuation worry you. The shorts will still try and influence this but Tullow is truly on a completely different path than it was on yesterday!