Member Info for deeko

I mean seriously... who actually writes this in an RNS

'laboratory analysis and results indicate that the oils recovered from both Jethro-1 and Joe-1 are heavy crudes, with high sulphur content. Tullow and the Joint Venture Partners are assessing the commercial viability of these discoveries considering the quality of the oil'

When people have invested for Guyana and Guyana alone, why drop that in there when Heavy oil with high sulphur is produced daily around the world.... Especially when serious volumes are produced just off the coast of Guyana in Venezuela

Orinduik was already IMO interesting given Hammerhead is thought to be the same heavy oil and Exxon are looking to develop it.

Difference was, Exxon is big enough to not have to say whether it's heavy oil or not and Tullow we're stupid enough to make out like it was worthless in the RNS.

Looking exciting here!

for those that scream lies whenever market manipulation Is mentioned. This goes a long way in explaining why oil price drops every day in London at around 3pm and then rises throughout the asian and U.S market. Hope they all get sentenced to 30 years in a U.S prison, investors have lost far too much when you consider this group has been pushing oil down, resulting in algorithms pushing down the companies that produce oil... I imagine billions have been lost to this scum

https://www.bloomberg.com/news/features/2020-12-10/stock-market-when-oil-when-negative-these-essex-traders-pounced

Gas is close to £2 a therm, 3 years ago it was predicted to go to 15p a therm with all the 'shale gas' coming into Europe... $100 oil seems much more likely than $60 imo... once the market manipulators finally get charged by the SEC

Seriously?

pointless attempt at getting people to look at I3 but, most of us here are fully aware of what other shares are on the market and chose Tullow over companies such as i3. My first guess as to why the SP isn't moving much would be i3 produces Canadian oil sold at the Canadian spot price. Brent (which Tullow gets paid in) is worth significantly more than the Canada spot. I've not looked at what that price is, but I do recall it was a substantial discount to WTI... maybe in the low $40/bbl (don't quote me on that)

LOL, this share is mental. GLA

panic of a 3rd wave? at this stage the only people that are panicking are the BBC propaganda station and sky news. The rest of the world is actually just getting on with it

not on the basic google chart, looks like a fairly free pass upto 67p at least. May be wrong though, I'm sure someone will be along with a candle stick interpretation soon

At which point do we admit the write downs were premature and add that $1,000,000,000+ back into our balance sheet?

Steve - haven't you heard? oil companies no longer track the underlying commodity price. Unless ofcourse it drops

Those hillbilly lemon squeezers have likely made considerably more than 95% of the posters on LSE combined. DFV on his own would have been up +$70 million yesterday before they illegally restricted buying

Just incase that wasn't clear, OPEC is in full control of the oil market now and US shale is coming along for the ride, hedge funds/traders don't have the capital to go against them

-Monthly OPEC meeting to review market
-US stockpiles reducing week on week
-Saudi willing to voluntarily reduce production by a staggering 1 million barrels underpinning oil price
-US shale have stated they will curb supply to balance market
-Vaccine roll out by Spring
-Flights picking up (extra 10 million barrels of supply needed)

Nothing but good news on the horizon for oil IMO, low $50's is the floor which puts Tullow in a great position...again IMO.

The good news is, whoever is dumping shares into a rising market is clearly concerned. Otherwise they wouldn't need to0. Commodity price is on our side and I can wait another month. But can they? I wouldn't imagine so with the RBL news on it's way and also the global economy picking up.It won't be long before they run out of options and the short squeeze begins

Same for me Matt, disappointing to say the least but it's obvious the oil market is improving and it appears the Saudi's will continue to prop up the oil price at all cost.

I'm comfortable here despite the price being artificially held down (anyone that disagrees go off and read 'Trading in the zone'). Highlights for me are oil is above $50, improved oil price will no doubt allowed Tullow to improve Hedges for 2021 and 2022+, Tullow appear to have weathered the storm and are a much leaner company going forward. Current plan expects to generate >7 billion (with a B) cashflow over 10 years (700 million a year)

GLA

Hi Slift,

could you clarify what you mean by 'significant drop in Q4 production'?

I may have missed this, but I was under the impression we were on track for 75 kbopd (with guidance between 73-77)?

Listen to the conf call, Rahul is asked if Ntomme was delayed and if that may have impacted the rate from the well. His response was Ntomme 9 rates were much greater than the planned 10,000 bopd but it's choked for optimisation reasons. Delay was due to an issue with the intelligent completion.

Agreed, although I'm not sure why Tullow are high grading Jubilee South as opposed to developing TEN to nameplate capacity. Our equity share is ~50% at Ten and it sounds like the wells are highly productive (Ntomme 9 >>10 bopd according to Rahul)

Oil price goes down -> less oil can be economically extracted -> oil is no longer reserves -> reduced asset value -> Paper loss.

**Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.

I was under the impression that TLW discoveries were inline with Exxon's Hammerhead discovery. I believe Hammerhead has an API of 12-15 based on a statement by the CEO of Hess. It seems our discoveries are not valued in but can't see any reason why Exxon can monetise these fields and TLW eventually cannot.

Can't find the exact article I read but the below seems to suggest the same.

https://www.guyanastandard.com/2019/11/15/stabroek-block-has-heavy-oil-too-hess-ceo/
https://www.ecooilandgas.com/wp-content/uploads/2019/11/20-11-19_ECO_10_20191120_technicals_on_heavy_oil_Hannam.pdf
https://www.upstreamonline.com/field-development/hammerhead-weighs-in-heavy/2-1-710028