The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
They bought last year and on march 2nd https://markets.ft.com/data/equities/tearsheet/profile?s=TLW:LSE
Bought after the sp drop from 210p to 130p then some bought in after the second sp drop from 140p to 38p, i beleive if the poo rises back to $50 the sp of other oil producers will rise and so will TLW, and at least 38p if there is a TO or assets sales or claim success for $2 billion.
PHAR is up 7% today after after the results and they even made a loss, if TLW is expecting to post a gross profit is expected to be c.$0.7 billion then where should the sp be going tomorrow? My guess will be high 20's or low 30's where resistance is and close the 28p gap above.
Trading Statement & Operational Update under 2019 performance says
"Tullow expects to report pre-tax impairments and exploration write-offs of c.$1.5 billion (c.$1.3 billion post tax) primarily due to a $10/bbl reduction in the Group's long-term accounting oil price assumption to $65/bbl and a reduction in TEN 2P reserves."
Do that mean Net assets value will be halved from 2.8billion to 1.3billion, with intangible assets of 1.9billion it means the NAV of 70p for end of 2018 will now be minus something for end of 2019?
The gap above POO will be closed in the the near future or after new tax year because that will hurt the americans companies very hard combined with the increasing covoid 19 cases, remember the gap below POO back in last spetember? that gap got closed within 2 weeks, the question now is how low will POO and TLW sp will go before POO go back above 50$.
Its not just TLW getting crushed every oil producers big or small is getting crushed too at the same time, its the POO moving the SP for all oil producers and i am not surprised if POO go down lower to 20$ in the near future, like the russians say in my Youtube link in previous post its a gift for the americans and they are getting it while the number of coronavirus infected in US is growing steadily until the whole of US is in locked down then maybe the russians will allow the POO to go back up and at the same time buying up all the oil assets for peanuts.
FRES is back into FTSE100? If so then institutions will be buying back in and increasing the SP with it, compare to last time before christmas FRES was kicked out of FTSE100 institution was selling taking down the SP with it.
People are still in quarantine in china, italy, sk, japan, iran, us etc therefore less cars being used so oil supply must be building up and demand slowing down, plus people are not going on cruises right now, airways passenger numbers are going lower and flight bans to most affect countries.