Member Info for Longish

Wonder what opening sp will be on 29 July and if shorts start closing before or after.

Yahoo publish information on holders, insiders and % float etc but it doesnt seem to be up to date. Anyone got a link to anything more current?
https://uk.finance.yahoo.com/quote/TLW.L/holders?p=TLW.L

Added a few more this morning...

'Looks like the Government is keen to get this pushed through'
Will be fine imo.
Full disclosure in line with the TCFD recommendations etc are shown from page 25 onward in the 2019 Annual Report
https://www.tullowoil.com/application/files/6515/8636/0100/2019_Annual_Report_and_Accounts.pdf

See also 2019 TLW Sustainability Report.
https://www.tullowoil.com/application/files/9215/8694/9510/Tullow_Oil_plc_Sustainability_Report_2019.pdf

$44.28, still holding up.
https://uk.investing.com/commodities/brent-oil-streaming-chart

currently $43.34 with +ve sentiment around demand and CV..
https://uk.investing.com/commodities/brent-oil-streaming-chart

Hi guys, catching up with your good discussion which is keeping my understanding here alive .

Just to clarify, fcf is based on $35 oil and we are currently $43 and we are 60% hedged this year, 40% next year?
With the uganda deal, short term liquidity 2020/21 and conditions for removal of the audit qualification now met, doest seem an issue barring any surprises in reporting updates..
Looking out, while governments etc have been usiing $80 oil to plan economies 30/ 50 years out, $60 seems to be pivotal in the uganda deal for contingent payments. It doesnt seem unreasonable to me to project 5 years+ at $60?
So, if we get some part/ all of the $1bn portfolio management,eg kenya, are we out of the wood? or are we unclear about years 2 to 5 of the recovery given interest rates will be near zero over the period even though demand is likely fully recovered.

And if years 1 and 2 conditions/ targets met, does that mean the new ceo is likely to explore growth funded from rights issues or revert to low interest debt based on solid cashflows etc?

We are clearly approaching a tipping point and I certainly will be looking for clues in the ceo's remarks on 29th.
We should at least get evidence as to his energy, character, vision etc? Compare that to Dotty etc?

No shortage of opportunities. With debt and cashflows recallibrated to maintain a more 'conservative' balance sheet, tlw may have an opportunity to layer in additinal low cost, value adding production under the new ceo?

Will depend on Slifts point about debt restructuring..

'Hi Longish,
The $25m was for G+A savings for next year If I remember correctly.
But they did mention a further Capex saving of $15m after Uganda sale.
Which takes known cost savings to $100m.'

Thanks Slift, well remembered. That circular was a long document...

Yeah I thought auctioning debt. Dont know what the terms are of the $300m convertible bonds and how it is wired to the shorts etc. From memory, think the uganda circular says 2021 additional $25m pa savings

think I read hedging costs were c$2 pbl

Not sure how valuation and strategy impacted. Say, [23m bopd] or [30%] of current revenue for cash?. Would be interesting to compare the current value of an income producing asset like TEN vs the discounted price of uganda asset and its projected future income.

'I'd be discouraged with a discounted Kenya sale.'
Pressures off for a discounted price imo. Nice window for the new CEO. Roll on 29 July update

Canary wanted more money and less impairment...

..so voting record time is 6pm today. Anyone know when it is public. AGM 12 noon tomorrow?

Shorts been playing with it for a while now. Any LTH (or shorter)will know the pattern. With a strong balance sheet and cash, the Turkish acquisition plays into growth and recovery so I am back in to recover some losses here. Not chasing it though, bottom drawer...

Been a bit of a lull with news but rest of this month and through into H2 looks good to me, imo

Back over $43.
https://m.uk.investing.com/commodities/brent-oil

'almost certain to be on the losing side in the vote'
hoc tempore anno proximo erit divites ;-)

every 0.015% counts ;-)

18 June 2020 - Tullow Oil plc (Tullow) announces that, further to its announcement on 23 April 2020 in relation to the agreed sale of its entire stake in the Lake Albert Development Project in Uganda to Total for US$575 million in cash plus post first oil contingent payments, a shareholder circular relating to the Transaction (the Circular) has been published today, having received approval from the Financial Conduct Authority.

Deadline for lodging Forms of Proxy with Tullow's UK registrar/CREST Proxy Instructions/website proxy/Proxymity appointment 12 noon on 13 July 2020
Voting Record Time 6.00 p.m. on 13 July 2020
General Meeting 12 noon on 15 July 2020