Member Info for gogadget

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

Holding up well considering the wider market’s reaction to US debt ceiling malarkey, if deal approved this afternoon in the US then should see a rise tomorrow along with the rest of the market bounce.

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.

US will raise the debt ceiling regardless as the consequence of a default is too great and politicians won’t let it happen,,politicians themselves have their hands in many pies so to purposely push for a default they self destruct their own interests of them selves and inner circles, rishi Sunak is a example of this, makes a killing investing.. as regards recession I think a lot of debt laden companies like Tullow are already priced at recession prices due to current poor sentiment, The media is full of doom and gloom but alot of it never happens, bad news sells but this will soon pass and be old news.. they rarely write about positive things in life!

re patel

i can not find any data to say that any major shareholders have sold out, all the data i found indicates they still have the same holdings as last year with some big names and big numbers up there..

why would someone invested heavily state there’s no value in the company, they aswell wipe their **** with their money…

They will be working 24/7 anyway with regular shift change of workers due to the massive costs involved with rigs and vessels, one thing I have notice is Vos paradise trips to and from Great Yarmouth has increased, it’s usually docked in the harbour for a couple of days before heading back to Blythe, the past few trips it’s only docked for 8 hours or so before heading back so I guess there is a lot of activity take place right now and possible a large amount of equipment associated with casing the well being transported

Things must be progressing as expected, Total depth was expected to have been hit days ago.. any significant problems encountered should have been published via RNS in a timely manner.. flow tests will be a while of yet as well needs casing, sealing and perforating.

Https://m.economictimes.com/industry/energy/oil-gas/ongc-oil-india-in-talks-for-50-stake-in-3-4-bn-kenya-oilfield-chinese-firm-enters-fray/articleshow/100416407.cms

Why so much little influence on the SP and negativity from some towards these many positive broker ratings, yet it’s ok for Jeffries to trash the share price with the one crap rating of 25p....shorts jumped on this rating to pull SP lower in a poor economic environment. People should be questioning the credibility and reasoning of Jeffries rating.

Can’t see any negative surprises in today’s AGM statement, production up 6% with more wells online soon, 60% increase in exposure to higher oil prices in from may, oil likely to go higher in second half especially with opec trying to push it back to $80 plus so should benefit. Statement on Kenya is already known, it will be a months though before any farm in/sale is agreed.

"Oil prices are consolidating their bottoms, helped by a seasonal increase in U.S. gasoline demand from next week," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.

As well as gasoline demand, the onset in May of voluntary production cuts by several members of the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, is also expected to tighten supply.

OPEC+ meets again on June 4, and some analysts see a chance of further cuts. Saudi Arabia's energy minister said on Tuesday he would keep short sellers - those betting that prices will fall - "ouching" and told them to "watch out".

Https://m.uk.investing.com/news/commodities-news/oil-prices-rise-on-outlook-for-higher-gasoline-demand-tighter-supply-3028738 looks like Saudi Arabia trying to push oil prices back up

History repeating itself? Company run by incompetent clowns, just out to rinse private investors, can’t believe ukog manage to suck people in each time... cut your losses and walk away, otherwise you will spend the next 6 months winding yourselves up checking share price and for updates...

Positives are Tullow benefits in value of reserves and value from possible sale or farm in.

Negatives are the farm in partners now need to put a lot more capital upfront rather than being split between 4/5 partners. Maybe the withdrawing partners not happy with the complexity of working with partners from multiple countries or the background of these countries in general. Maybe sale of the full 100% is the way to go... don’t see any negatives to Tullow from today’s RNS and see it as a value positive, after all Africa oil corp had already written the book value of the asset off in their last trading update anyway so maybe they’ve been planning this for a while.

Buying activity picking back up

Vos Paradise been at Blythe all weekend and the safety standby vessel has swapped to Esvagt Capri. RNS is due imminently, hopefully some brilliant news due to help LTH recover any losses plus profit and kick the shorters where the sun doesn’t shine.