The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Hopefully they surprise the market and choose to buy back excess of the $75m shall the appetite be there from the bond holders to part at a price favourable to Tullow. Rahul did say 2023 will be the year the market stops worrying about Tullows debt. Let’s see if he makes good progress on this. They also must be confident in their own finances and forward projections to be buying back given so much negativity towards oil from recession etc and oil struggling even after latest OPEC cuts.
Certain accounts bring nothing but negativity to this forum,, I’m bored of reading the negativity day in day out, people goading others about being at a loss on their investment, some people add value here by posting informative links/info etc.. Now it’s just trolling, I think some people should disappear and spend their time on Facebook or something.
What a con if this floor price is $71, oil prices are volatile, looking at the chats 2010 oil prices averaged above $71, hunts deluded, so it’s ok for groceries, house prices etc become unaffordable and go through the roof and stay there (increased tax returns for HMRC) yet oils not allowed to increase in line with rampant inflation brought about by government policies…. Give up with uk government, run by a load of clowns.
It appears 48 hour well test completed, heat image disappeared at 1am this morning… looking at gas well flow test info on internet states gas well testing takes between 1 and 3 days.
Just looked at the link provided for the satellite heat images, it allows you to scroll back at previous images.. it shows the heat from the flare at Blythe appeared at 1am on 4th June and has carried on burning continuously
Crude trading up over 3% since market opening, Brent on open should also be up over 3% which is over $79 per barrel, hopefully keep gaining over night and into tomorrow when western markets open, now is the time Tullow to benefit from the reduction in hedges.
Https://m.uk.investing.com/news/commodities-news/opec-meets-to-debate-production-quotas-new-cut--sources-3041336
Output cut agreed… hoping June is the month Tullow starts to rise back to where it should be…
A production cut is better than doing nothing and selling oil at a loss in a flooded market makes no sense for anyone invested in oil and is counter productive, all it does is benefit the governments figures and allow Biden to fill up the strategic reserves on the cheap… they winge about fuel being to expensive for the consumer yet the government in the uk make the most out of all by slapping on 52.95p per litre on fuel plus VAT @20%, if they want want to ease the pain on consumers lower the tax… OPEC has been manipulating prices for many years depending on market demand so this is not a new thing.
Hopefully a production cut is agreed today, Saudis wants $80+ to be achieved to balance their budget spending, which is the number Tullow has been aiming for in forward cash flow projections.
https://m.uk.investing.com/news/commodities-news/opec-meets-to-debate-production-quotas-new-cut--sources-3041336
https://oilprice.com/Energy/Energy-General/IMF-Saudi-Arabia-Needs-Oil-Prices-At-8090-To-Balance-Budget.amp.html
Western leaders are trying to push oil prices down as a tool to save their own backsides from runaway inflation contributed to by the own poor decisions on quantitative easing, covid handouts and lockdowns etc…
Stuck in first gear
When oil and market sentiment reverses it will take Tullow back up with it. Media is full of doom and gloom and never seems to materialise,, where’s this uk recession that baileys been predicting… it’s frustrating that some stocks are massively affected more than others as regards media speculation
No change of vessel movement really, Vos Paradise been at Blythe since 2am 27th, safety support vessel Esvagt champion still close by as expected.
I was expecting an RNS by now, all must be going according to plan although slower than some expected,, any significant problems they need to notify the market in a timely manner. So guess no news is good news at the moment.
Yes the debt of a lot of developed countries is ridiculously high and spending cuts need to be put in place to bring it down, it’s not sustainable for unlimited borrowing forever, imagine if the US and UK gov were listed as a PLC, what would their earning to debt ratio be.. it’s just spend, spend, spend. Becomes the next leaders/publics problem further down the line. I’m surprised how little debt Russia has for such a large country.