RE: TLW email6 Apr 2023 09:58
TLW response
We are regularly reviewing options for optimising the capital structure of Tullow and getting a fair valuation of our company. As such, the buy back of bonds or the buy back of equity shares are both options available to us.
As stated in our recent results, we have cash on the balance sheet that could be utilised. We have to think carefully about how and when we do so, but addressing our debt levels is high on our priority list. There are various conditions surrounding our bonds, but there are ways to buy back portions without incurring material fees. With upcoming maturities in the next few years, taking action on reducing our debt is important and should also have a positive impact on the valuation of the company. All this being said, equity buy backs are part of the tool box we have available to us so remain an option as we look ahead.
Thank you for your email,
Nicola