Member Info for gogadget

Think Rahul has used the role to walk into retirement. Total oil and cnooc has got the kingfisher Uganda oil field and pipeline to imminent first oil before Tullow can event get the Kenya FDP signed..

What’s the business plan for 2025?…. Not much other than a delayed Kenya FDP.

Jmax, ps…. There is no small print regarding production costs

https://www.tullowoil.com/media/press-releases/tullow-agrees-sale-its-entire-stake-lake-albert-development-project-uganda-total/

The terms of the payments are not related to productions costs, just tax, totally different to the Ghana government gas deal

Sorry 28.33 percent,

So say 230000 @ 28.33% @ $73 per barrel (current price) 2.5 percent = $118,915 per day contingent payment at full production

Contingent annual payments to be paid on upstream revenues from the Uganda Interests (reduced to 28.3334% following exercise by Uganda National Oil Company (UNOC) of its back-in rights – see below) calculated as follows: (i) no payment if the average annual Brent price is less than or equal to US$62 per barrel, (ii) 1.25% (net of tax) if the average annual Brent price is greater than US$62 per barrel or (iii) 2.5% (net of tax) if the average annual Brent price is greater than US$70 per barrel.

The Lake Albert development encompasses the Tilenga and Kingfisher upstream oil projects in Uganda and the construction of the East African Crude Oil Pipeline (EACOP) in Uganda and Tanzania. The Tilenga project, operated by TotalEnergies, and the Kingfisher project, operated by CNOOC, are expected to start producing in 2025 and to reach a cumulative plateau production of 230,000 barrels per day. The upstream partners are TotalEnergies (56.67%), CNOOC (28.33%) and UNOC (15%). Production from the oil fields in Uganda will be transported to the port of Tanga in Tanzania through the EACOP cross-border pipeline, whose shareholders are TotalEnergies (62%), UNOC (15%), TPDC (15%) and CNOOC (8%).

My understanding of the transaction is the contingent payments refers to 33.3 percent of production based on the the sale of Tullows share. First oil in 2025

I believe Tullow will likely win the tax case,, the details will be in the historic contracts wordings and tax allowances etc,, accountants and legal teams would be able to say yeh take to arbitration or not a chance,, January update likely to say Kenya extended yet again,, Rahul used to work fr Mohammed Stanley and Merril Lynch advising on acquisitions and mergers, which explains why s own to mergers

Roald Goethe just bought $804,900 on 2025 notes

Jmax companies were scrambling to preserve cash in the bank as no one knew how long lockdowns we’re to last, or how effective vaccines were going to be..

JMAX no one wanted any oiler when Tullow was 10p, it was covid time, half the world in lock down and oil prices collapsed and went in to contango….

Should they be disclosing the “Draft decision” to the market…. If they disclosed it to KOS I’m sure that’s not permitted without a RNS

“Draft decision” on tax dispute

May have drawn too much market attention to KOS share price being inflated.

Flavius I’m thinking the opposite… the more it tanks the less likely a offer will take place as the all share offer would be more expensive for KOS…

“Potential”

The all share offer may take into account the potentIan future uplift of KOS which is down 54% over the 12 month period. So a offer of say around 35p may take into account the recovery of KOS to pre 12 month price giving TLW deal a future value of 70p plus

Where you get that ratio from??? That’s currently the equivalent to 6p for a Tullow share @ 1 to 10. What nonsense

What’s the chances of the largest shareholders putting in a counter offer?

Chippyg.

No offer has been made, a all share value offer value can fluctuate, Kos is another indebted company, investors don’t want to swap their shares for KOS shares, a CASH offer would boost the share price

TLW share price could now be influenced by the KOS share price performance, KOS expecting the imminent LPG production from the tortue project