Member Info for Gord_1

Regarding LSE Monkeys.....have a look at this little fella...... https://www.marketmakersai.com/

His cousin "Shaft-Pi" also works for the LSE....interesting find.

Interesting to see its trading at 81% below fair value......albeit with a few risks according to our US friends.

No wonder so many companies are exiting this algo driven LSE casino. Positive news = SP down, minor negative news = SP very down, Oil price up = SP down. I bet if I started a rumour that BP and Shell were going to make a bid.....the SP would still go down. The only way this stock is going to rise significantly is to confuse those little algo's.

https://simplywall.st/stocks/gb/energy/lse-tlw/tullow-oil-shares

Excellent news from the BOD that NO raise is required for the project, and news like this is most welcome to investors.

Great asset, great find so keep up the good work.!

Hello all.... Does anyone know who the farm out partner could be ? or have any theories ?

Also an interesting source of reading into the top African oil companies. https://energynews.africa/2024/12/27/top-10-biggest-oil-producers-in-africa-2024/

Something to aim for .

PGee- I'm still convinced that due to the potential upside in Ghana ( $60B government funding of a petroleum hub, etc etc etc ) that Kosmos are still interested and possibly part responsible for keeping the SP down. ( your right about manipulation and tactics behind closed doors) . Note they did not actually make a firm offer in Dec ( just talks) , thus I'm not sure if this allows them to actually now make a firm offer without breaking any rules?

Will all going on this year in terms of increased Jubilee & Ten production, Kenya, exploration etc etc...and debt reduced massively over the past few years, Tullow's SP & MC should be well north of £1B.

It just does not make sense where it is today and I think your theory is right.

With the Tax situation resolved, I wonder how the US will take the news today and if a new bid is submitted. With all the future growth prospects Tullow has this year, I think we are in a prime position for a takeover. I would prefer Tullow to remain solo as I feel this year will have some exciting news flows.

I posted this yesterday if you missed it:

1) Ghana Tax Dispute - Dismissed.

2) Ghana Government plans to invest $60B into building a petroleum hub in Ghana ( recent article highlighted this) https://energynews.africa/2024/12/27/top-10-biggest-oil-producers-in-africa-2024/

3) Production optimisation increasing across the Tullow portfolio (expectation of a good trading update) .

4) Kenya - Field Development Plan (FDP) should have been concluded by 31 December 2024 with the Kenya Government approval (expecting news soon)

5) Kenya - Discussions have been ongoing with prospective strategic partners for the Kenya project. ( expecting news soon )

6) Gabon and Côte d'Ivoire - Simba, a discovery was made on the Sarafina infrastructure-led exploration (ILX) well and work is ongoing with the operator to determine commerciality. (expecting news soon )

7) Ghana exploration - A 4D seismic programme in Ghana is expected to start in January 2025, providing further data to optimise well locations for future drilling programmes.

8) Ghana exploration - Noble Corporation’s $171 million deal with Tullow Ghana involves six wells, enhancing Ghana’s offshore exploration starting in May 2025. The project strengthens Tullow Ghana’s offshore capabilities, aligning with their goal of optimizing energy asset potential in Ghanaian basins

$60b Refinery - Morning all,

I found this article this morning published a few days ago. The Tullow Jubilee project in Ghana is mentioned (number 10) together with the investment of the Government of $60B to become the petroleum hub of West Africa . With current production in Ghana going to plan , and all the new development works planned by Tullow, could this be the possible explanation that other oil companies such as Kosmos want to buy us out. Its a massive opportunity for Tullow.

https://energynews.africa/2024/12/27/top-10-biggest-oil-producers-in-africa-2024/

Not sure.......but Jefferies have def lost this one....plonkers ......lol :-)

https://www.lse.co.uk/news/TLW/london-broker-ratings-barclays-and-jefferies-disagree-on-tullow-oil-ujlr94840c2chs2.html

As well as the brilliant news just released today, I thought it would be good to remind investors of other highlights that will be coming along in 2025. This is additional to the current production wells in their portfolio which were being optimised where necessary to exceed expectations, as per the last trading update. Optimisation results also to be released.

1) Ghana Tax Dispute - Dismissed.

2) Kenya - The Field Development Plan (FDP) apparently should have been concluded by 31 December 2024 with the Kenya Government (hopefully news soon)

3) Kenya - Discussions have been ongoing with prospective strategic partners for this project. ( hopefully news soon )

4) Gabon and Côte d'Ivoire - Simba, a discovery was made on the Sarafina infrastructure-led exploration (ILX) well and work is ongoing with the operator to determine commerciality. ( hopefully news soon )

5) Ghana exploration - A 4D seismic programme in Ghana is expected to start in January 2025, providing further data to optimise well locations for future drilling programmes.

6) Ghana exploration - Noble Corporation’s $171 million deal with Tullow Ghana involves six wells, enhancing Ghana’s offshore exploration starting in May 2025. The project strengthens Tullow Ghana’s offshore capabilities, aligning with their goal of optimizing energy asset potential in Ghanaian basins

Great News...and with the 2025 bonds covered...and the potential of Kenya to come .......happy days !

Rob - I think your comments to Tuan6 and others are a little harsh when people are trying to help you. If you want to do some research, read again the RNS from 27th November and point out what the issue is? As for the future of this company, its binary but Lunn who previously controlled company finances and has lost most of his shares with his buddies in NZ....will want them back...at what cost to pi's More pressure on them and not the pi's on here , the better result you will get......I trust you understand that concept ?

Ssccss - I totally agree

Tebbin -

Nothing did happen as they suggested. Please remember PPP claim they are an oil and gas production company.

A share placing of 800k and drill costs of 200K spent

No oil was produced or sold. (lots of water tanks installed however)

And they didn't actually buy back the leases. The partners defaulted on their share of the costs and PPP wrote this off in return of the licences. ( probably these partners realised it was a duster...why else would they walk away)

I'm not sure how 7 years of no oil production from these licences despite benefits shareholders today?

Delta - Just to add to the bonds discussion:

When the bonds were issued to Newscape, they were initially secured against the assets of Noble P llc. However shortly after, Evans then transferred the bond security against the assets of Noble USA and made a charge on the PPP accounts for $270K for "admin" costs associated with this transfer.

The only explanation I have for this is either Evans lined his pockets from a dodgy transaction, or he is incompetent to use companies funds like this... or Newscape/other bond holders increased their loan to Evans for £12M and wanted further security as Noble LLC did not hold the right level of asset security. Whatever it was its just not right and should be looked into further.

For such a small minor, limited funds and production....monies like this should have been used on drilling on other parts of the leases if COG 1H was failing. For example in 2019 when investors were waiting for a breakthrough on COG 1 ,2,4 production , the company advised that they had spent less that $200K on drilling for the total year, sighting pump and electricity issues. Less spent on drilling for the whole of 2019 than that "bonds admin charge" .....sums it up.

Hi Delta - Apart from all the dodgy and dealings behind closed doors, the more I look into this it would make a brilliant film about the things that happen on the LSE. - USA, UK , NZ , Malaysia, Ireland, Monaco ( have I missed anywhere ?) if we don't get our money back I'm sure we could sell the film rights. :-)

As we know approximately 50M of shares were loaned out on a "agreement" between existing shareholders (Lunn etc) and PPP in 23 . Do you think these also constitute loans also against the "assets" also? These shares appear to be mainly in the hands of a number of HNW investors and most likely associated with DL (as the shift from "internal shareholders" such as Lunn and Evans to an external more wider HNW community happened shortly after DL's arrival)

I really don't think PPP can raise a new prospectus too add a further 50M+ shares given the limited assets and debts they now have, so its going to be interesting how Lunn approaches this ?

TheFoocare - That's the goal. They have to be made aware that if the ship goes down, they go too, thus its in their best interests to sort this mess out for all. Best Gord

Tebbin - I think Rapp is the interface between UK and operations in NZ. Clearing/banking House imo. They are all still connected via this company.

https://find-and-update.company-information.service.gov.uk/company/13229062/officers

Newuncle - many thanks for your comments. There are quite a few issues that I wont post on here as I don't want to be seen as negative to those who have invested a lot of money into this and hoping to get it back. Someone earlier mentioned trolls (probably referring to some of my posts and others) , however I feel a balanced approach has to be taken so that we all benefit from this mess. If SL doesn't manage to fix this positively and transparently, then as back up we have clear evidence to constructively make a class claim and inform the relevant authorities of our discoveries. I hope for all private investors it does not come to that and SL actually does the right thing...and in a timely manner. Best Gord

Delta - very interesting ...

So if I'm correct , Lunn could also be behind RB Equity Nominees and the Resource Bonds situation.?

For example:

The £2M borrowed by PPP from Resource Bond's was from money credited by Newscape with the Texas assets as security. Up to £10M appears to have been credited against the Texas assets as security. The debt owed by PPP of £2M was probably not paid back to Resource Bonds, as £2M sat on the accounts of in the RB equity nominees which was also controlled by Resource Bonds. However this changed when creditors were moving in. Lunn however also had the shares. The creditor now wants their money back and liquidators were recently updated on 24th Dec to pursue this. As the loan from the creditor Newscape was against the Texas assets, TE/DL potentially sold these to Globalvision as they could get seized. I also think there is money still unused in the short term investments fund which has disappeared.

There was a lot of interconnected businesses controlled by Evans, Lunn and others behind the scene. Too many to mention. I suspect the late book keeper was controlling this and sadly he passed away leaving them in a bit of a mess. Evans & Resource Bonds is being pursued by liquidators after it was wound up by creditors. It had £12M on its books controlled by Evans before being wound up. This is the business that apparently loaned £2M to Pennpetro. Evans stated that Pennpetro repaid the loan to the bonds company via a business called RB Equity that Evans also controlled by issuing shares in Pennpetro. However the RB Equity accounts showed a £2M cash balance for quite a period being controlled by the Bonds company , however this changed to Evans being in control when creditors were chasing the bonds company for their money back. Also the £2M in the short term investment fund remained their for some time despite us being told it was being used for admin expenses etc. I'll leave you to decide if PPP has a future but if it does go down then these lot should also go down too. It would be interesting if the liquidators were onto this.

1) Fhf Corporate Finance Limited: https://find-and-update.company-information.service.gov.uk/company/08830045

2) RESOURCE BONDS: https://find-and-update.company-information.service.gov.uk/company/10328847/filing-history

3) RB EQUITY NOMINEES LIMITED: https://find-and-update.company-information.service.gov.uk/company/12578816

4) CFGH MANAGEMENT LIMITED: https://find-and-update.company-information.service.gov.uk/company/08830045