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Https://www.upstreamonline.com/production/tullow-oil-well-glitches-in-ghana-impact-production-remedies-at-hand/2-1-1551367#:~:text=Tullow%20Oil%20has%20hit%20downhole,in%20average%20production%20for%202023.
Looks like this is the cause of lower numbers but output will be recouped
A very negative article from the self declared shorter… the question I have is why would Roald Goethe sell his bonds below par then buy shares with the proceeds if he wasn’t confident in the companies value increasing…
Maybe some of the drop is related to the news article that Ruto has asked Tullow to look at building a refinery instead of a pipeline and use the products for domestic use, after all these wasted months of reviewing the FDP. So likely a revised FDP including a refinery will now have to be submitted, idiots. Are they also going to request discounted domestic use products too. Such a significant change may cause the potential farm in partners to walk, or maybe they will favour it, who knows, refined products will likely increase the security risk of the valuable refined products being hijacked after leaving the refinery. I guess this will kick the can down the roads a few more years. Ruto get your damn check book out. Think Tullow need to issue a update to clarify on Africa intelligence article.
Positive is Turkana not been written off, not sure if this would mean FDP has to be revised and go back through consultation. Also refinery costly at around 4billion but would avoid the heated pipeline
I believe now is NOT the time to sell, the US spring rate cut market optimism is going to work wonders in Q1 2024 for indebted companies like Tullow that have been pulled down in 2023. Debt and refinancing is no longer an issue. Increased production, director buys and possible Kenya FDP approval in Q1. Oil pull back into 70s is transient and will steady above $80 in January. I’d rather follow the actions of a director buying than random posters comments on chat boards.
It’s not negative, London south east prices delayed by 15 mins. Also the first 15 mins of the trading on other sites appear to bounce all over the place with delayed trades from previous days. To get a true price I do a dummy sell on a small volume of share to see what price comes up.
Back into 40’s January then upwards from there on I’m predicting. Sentiment is turning a corner. Directors buying, Inflation falling, US interest rates predicted to start being cut in spring, Tullow debt no longer a issue, increased production. Will Kenya happen? Who knows! Kenya already priced in as a failure.
Needs to be balanced to work financially and environmentally, so yeh approve Turkana and offset the carbon footprint with solar and wind renewables using the Turkana revenue.. it’s a win win for kenya
Tullow missed out on the share price rally when oil was soaring due to Ukraine etc.. now oil going negative, I have a feeling the US government are manipulating the US crude/fuel inventories reporting to push prices down to combat inflation. The risky situation with OPEC is if they reduce output, other increase their output to cash in. Playing with fire as Saudi could flood the market again crushing prices to bankrupt others like 2020.
Http://www.stockchallenge.co.uk/ftse.php
This chart showing TLW made it into FTSE250
Nice uptick before results day as per usual, then usually falls on results day, although tomorrow may be different as I’m expecting the best update in over 12 months with the higher production figures pencilled in.