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Bare in mind TLW is still making an additional circa $12.5m per above projections at todays oil prices. If we reach $100 oil then additional circa $24m per month. 1 July @ $100 then big money coming in at a additional circa $37m per month. Just need to wait it out and hope oil stays high along with some good news on Kenya. Knowing our luck NATO will have us all dragged onto the front lines by then
Https://talkmarkets.com/content/commodities/crude-oil-forecast-bullish-trends-in-focus?post=439235
Amongst London's small-caps, Tullow Oil jumped 11%.
Bank of America 'double-upgraded' Tullow Oil to 'buy' from 'underperform'.
The investment bank said it expects shares in Tullow Oil to benefit from improved cash flow as past infrastructure investments pay off.
Https://www.datacenterdynamics.com/en/news/ghanaian-authorities-withdraw-672m-tax-bill-against-mtn/
Not just Tullow slapped with tax bill.
Simba 10k barrels per day from the perenco operated field, amount of production to be affected by the fire is undisclosed, could be contractors or perenco facing legal issues for the unfortunate deaths of the people involved.. this apparently happened yesterday and now RNS from Tullow. Disgraceful.
At 31 December 2023, Tullow's hedge portfolio provides downside protection for c.60% of forecast production entitlements in the first half of 2024 with c.$57/bbl weighted average floors; for the same period, c.40% of forecast production entitlements is capped at weighted average sold calls of c.$77/bbl. In the second half of 2024, Tullow's hedge portfolio provides downside protection for c.45% of forecast production entitlements with c.$60/bbl weighted average floors; for the same period, c.20% of forecast production entitlements is capped at weighted average sold calls of c.$113/bbl.
If oil stays at these prices or above into H2 and beyond then there will be a significant increase in free cash flow
H2 2024, is where the hedging losses reduce and Tullow benefit if higher oil prices remain at higher production rates with more jubilee wells on stream.
At 31 December 2023, Tullow's hedge portfolio provides downside protection for c.60% of forecast production entitlements in the first half of 2024 with c.$57/bbl weighted average floors; for the same period, c.40% of forecast production entitlements is capped at weighted average sold calls of c.$77/bbl. In the second half of 2024, Tullow's hedge portfolio provides downside protection for c.45% of forecast production entitlements with c.$60/bbl weighted average floors; for the same period, c.20% of forecast production entitlements is capped at weighted average sold calls of c.$113/bbl.
For the period from June to December 2024, Tullow's hedge portfolio also includes three-way collars (with call spreads) with weighted average sold calls of c.$85/bbl and weighted average bought calls of c.$94/bbl, providing full access to oil price upside beyond the bought call price on c.10% of forecast production entitlements in this period.
What’s peoples thoughts on profits from the latest crypto bull influencing a bull run in UK stocks.
Crypto’s reaching new highs and Looking at the crypto charts from 2021 to a lot of companies like Tullow, where the share prices took off along side crypto markets from money flooding in from profits and sentiment.
After a good read through the 2023 figures and 2024 projections, It appears to me that 2024 could potentially be a very good year IF oil stays at or above above $80, the tax dispute goes in Tullows favour and Kenya comes good.
IF oil falls below $80, tax dispute goes in Ghanas favour for the full $350m, and Kenya FDP fails and Kenya value written off then we are in for a really crap 2024.
I myself am getting very frustrated with the share price performance, I’m questioning how long I can wait for the “increased value for shareholders” which is dependent on the above factors.
As others mentioned on here about Rahul chuckling about Kenya with the optimism that he’s confident of good news soon, or is it that Kenya is becoming a comedy show.