Member Info for latpulldown

Clearly accumulating and it has been the case since 14p's and 15p's.

You really don't stand a chance against Institutional investors with bulging wallets and stocks which are building momemtum imo.

Be part of it, or be decent and be quiet.

Up 530 points.

That should hopefully carry forward into a good blue day on UK markets tomorrow.

Probably down to Trumps proposed giveaway tweets tonight.

Today was a market making lesson in how to get 12.5 Million shares traded on what ended up a fractional movement in the share price. The recovery in share price indicates someone was picking up the shares and why not as they actually got the shares with the benefit of the knowledge that the RBL outcome was favourable. We should now hopefully see a steady climb into the completed sale of the Ugandan assets. Equally they could surprise us all with the sale of another asset with $500M further asset proceeds being targetted.

Encouragingly the new CEO seems to have his finger on the pulse with meeting deadlines. RBL outcome delivered on time in early October and the Capital Markets Day and what will be the outcome of his review being delivered ahead of time.

It is these things that help to rebuild confidence.

peronifund

There is always somebody will have your shares off you if you wish to pass them on.

It just so happens that this mornings news was really good and we are good to go for the next 3 months. Next RBL redetermination we should be walking into with $575 million from Total for our Ugandan assets and also a clear strategy to improve and deliver on the value of the assets.

That's interests in over 70 exploration and production licences across 15 countries.

Everyone is always welcome to hand their shares over should they so wish. I just think its the premature and short sighted given we have just effectively been given a clean bill of financial health until the next RBL in January. Ugandan asset sale should complete soon and things seem to be starting on the turn for better times ahead of the Capital Markets Day.

Lets see where we are by the end of December and imvho we should be much higher.

If the banks are happy with the RBL redetermination then so should we all be. I know I am.

Sufficient headroom is there for group needs and forwards we move to CMD which should have the benefit of an imminent Ugandan asset sale.

CMD by the way was meant to be by year end so 25th November means things are progressing ahead of time.

That you would think should fuel a nice Santa rally.

Sorry for the quick post.

RBL completed which is great news and that means the banks are happy as larry until the New Year.

$500 M untouched headroom also and the banks will have been given the nod on the Ugandan assets sale adding another £575 Mill.

CMD is a Capital Markets Day. Review of the business presently being carried out by the new CEO on how to maximise the value of the assets and improve shareholder value. CMD is the day it will be unveiled, to all the analists and shareholders.

Its nice that they are playing with the price as its enabled me to top.

No change in company circumstances since yesterday. RBL still awaited and completion of the Ugandan asset sale which will bring in a princely sum of $575 Million for Tullow.

In the meantime they continue to pump out 75,000 bopd roughly with a shrewd hedged price of $57 dollars on 60% of their production. The other 40% is still averaging $42 per day with the price of Brent oil holding up well

That Asian markets ended up or virtually static and that the price of Brent oil has held up well also at around $42.50 per barrel.

We sit, we wait and next news should either be RBL redetermination or Total completing and handing Tullow $500M

Volume drove the rally today.

Plenty news due and some clues are out there if you care to find them.

Btw personally I think Joe Biden will win the US presidency and just wagered as such on it tonight. From watching DT on his recent White House salute I think is not well, is putting a brave face and "front" on his present health to keep electioneering, he is too outspoken and has upset too many people over the last few years with threats and with tariffs and sanctions and imposed, and his handling of the Covid19 crisis has left a lot to be desired.

It matters not really who wins, but Biden is the more conciliatory of the two, more diplomatic and considered in his approach.

That's just how I see things.

We know it's highly imminent.

Get through that satisfactorily and up we should go imo and noticeably so.

Its as close as close gets and happy to hold for both that and Ugandan asset sale proceeds which we also know is getting close.

"“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”

We can then start talking about next year when we know the outcome of the Capital Markets Day, when the CEO's new plans have been unveiled.

“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”

Anytime soon I would say

1.Total plc contracted work that involves a Ugandan asset that is up for imminent $575 Million payment. (more significant than some have realised)
2.RBL redetermination imminent. (Good catalyst in its own right)
3.The price of Oil is trending up again.
4.The share price and market cap are woefully undervalued right now.

Say cheese and smile widely when either 1 or 2 come along imo

Let them who sold find their next entry price. I think far too early given Total tendering and whilst we await imminent news on the RBL redertermination.

“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”

Favourable news on that and I expect us to easily hurdle through 20p and to go far beyond that.

Amended version

It probably has a lot to do with the fact recent falls have been unjustified. (They hedge 60% of their oil sales at $57 per barrel), Total tendered for contractors for a project on the asset that Tullow is selling them and is still to complete on $575Mill), an approach given the undervaluation. Or could it be this one.

“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”

Take your pick.

The rise today is backed by good volume to justify it.

It probably has a lot to do with the fact recent falls have been unjustified. (They hedge 60% of their oil sales at $57 per barrel, Tullow tendered for contractors for a project on the asset that Tullow is selling them, an approach given the undervaluation. Or could it be this one.

“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”

Take your pick

Well it was 23p only a few weeks ago and 30p a few weeks before that.

There is a lot happening here behind the scenes. RBL redetermination, Ugandan assets sale, potentially another $500M coming from other asset sales, New CEO's business review, leading to a Capital markets day where his plans will be revealed for reshaping the group and maximising value from the assets.

Then whilst it is so cheap who knows who might be running the slide rule and the calculator over things.

Lets see where this share price is come January.

Looks like the market makers have been teasing out sellers and they seem to have dried up.

All other holders are waiting for the RBL redetermination which should reset the share price a nice bit higher.

"“Semi-annual RBL debt capacity redetermination expected to complete in early October 2020; at Tullow's request, the next redetermination will be in January 2021 following the CMD later this year to incorporate the outcome of revised business plans”