Member Info for JMAX

We are mostly looking to the Kenya development to turn this around - but better hedging at higher prices is just as if not more important to our SP.

Indeed, and those reserves will need to be replenished...

But what is the floor price ?

In servicing the debt - TLWs resources are being depleted and sold off on the cheap.

Adie,

Blow to what price range ?

Do we know this is un-hedged?
In recent times our hedging info has stated X amount of 'production' and not a set figure.

Alwaysone,

Why do we look undervalued and if we are why has the market got it wrong?
And a general point. With the KOS RNS, what should we expect from our update that is not already in the public domain?

From a FRES point of view the 'hammer' wasn't needed - at these PM prices we should be higher.

75% hedged for 2 years

https://www.rte.ie/news/business/2021/0616/1228376-tullow-oil-agm/

DB and Snue, thanks for the replies.

I'm long here but trading it too. Do I think this is a fair SP? No, but PoO in this ranger and we are in the 40s. This would have been unthinkable a few months ago.

Snue,

Who is manipulating it, how and why?
Thanks

CFD,
I would be delighted with 65p by YE. The market is forward looking and the figures for production guidance, hedging and PoO are in the public domain. My concern is that due to the way the company has been restructured there may not be much left for the private investors.

Are the financials fairly predictable - we know the production guidance, the hedges and PoO. So to what extend will the results already be priced in ?

This is a great share and it has been good to me in the past. Anyone who holds long term will be well rewarded. Fres can move very quickly - just look at 2016.

If Total got such a bargain then why not buy shares in Total.....

I would prefer to get the debt down and for SP growth before any talk of a dividend. And even if a dividend was reinstated it would be insignificant when it comes to attracting new investors.

Can anyone confirm - was Kenya valued at around $400m - before being reworked?

We could have been taken-over sub 10p, but we weren't - was this because the big players would have lost out and this lead to the refinancing and restructuring of the company. If Kenya was sold, no doubt the proceeds would mostly go to paying off debt. So after selling the family silver, we would have lower debt but aging producing assets, and what effect this will have on the SP is unclear. As a LTH, I would be concerned if we did not keep a significant stake in Kenya.

GG,
Shorters tend to target companies that are or have been poorly managed, have debt and that are overvalued. As some have stated on this board - TLW was in such a poor state that company was saved in order to look after the big boys and that's what's happening. So when we hear 'getting the debt down' that's the big boys being looked after.

I have been in this stock for many years and it has been good to me and I even bought under 10p. I agree that it will take a couple of years if things go to plan - but other than Kenya news there is no need for me to be holding as this is not going to shoot up and the shorts know it.