Member Info for Longish

Good point Lloydy. If the SP opens higher and heads north then I am indifferent to the div as I can draw the increase in capital as an income stream.

They are simply robbing money from our pensions. The SP has collapsed!

Fine for the BoE to make that call when they have gold plated pensions. Since those products are becoming more scarce, more citizens are dependent on dividend income for their pension. What they mean is a wealth tax and equity drawdown on your home.

will be happy if it can hold that gain. Div today as well. Long way to go but light at the end of the tunnel even if it is only a cigarette lighter :-)

..is it my feed or did the wti just jump a dollar at 19.25pm....

..typos....'Dotty is sweating the prioritised assets'

Laidback
I think like that too. Dotty is seeating the priorised assets and operations. She has credibility with governments and institutions so I expect lenders to support her

'Hedges are only any good if you can sell the oil.'
Good point. Demand has dropped c25%, so 75%. If there are no jobs or firms after the crisis then zero, but I dont think so.

On the webcast she says there is a ceo shortlist so should be hearing about that shortly and CEO can hit the ground running imo.

Worth reading/refreshing the capital markets theory which says...'the value of a firm is unaffected by how that firm is financed'.
Its just as likely many of the companies that do survive will have access to debt which is premised on a trusted management team like TLW.
https://en.wikipedia.org/wiki/Modigliani–Miller_theorem

Will be a lot of volatility for a while as markets reconnect to the fundamentals/ real economy. I may add small amounts but happy with my holding now and in the bottom drawer for a couple of quarters at least

Fingers crossed Dotty can structure around at least 1 FID in the intervening period

'enormous surplus of oil.'
is it in the right places though at $22? If it costs $10 to transport it where it needs to be versus paying $25 or $30 locally, price will soon come into balance

'So someone has pulled the wool over their eyes, somehow'
Clearly a supporting 'culture' around Shetty with the number of people sacked etc. Wouldn't surprise me if all cash across Shetty interests was being swept up centrally and being drawn down from the centre as required under some 'service contract' and generous loan agreements. Finablr has a similar issue with £100m chqs in a drawer waiting to be presented.

at least the UK and India have a joint extradition treaty and monies may possibly be recovered from the holding company if that's where the treasury function and centre of management control is. It cant be a coincidence Shetty is restructuring his holding company finances

Storage is at c75/80% capacity so there will be capacity limit shortly or even now as remaining is already contractually committed or not in the right geographies etc

Jamaica was 1 of 10 country write downs recognised in last years financial performance. Total £1.2Bn was written down. It was kitchen sinked so may well be upside especially as 'Tullow has not explicitly said whether it plans to pull out of the oil exploration project'.
See note 9 to the accounts for a full list including jamaica.
https://www.tullowoil.com/media/press-releases/2019-full-year-results

That's positive when one of the 2 negotiating parties says higher

Mine have been in the bottom drawer for a while now. Not worried about operations or finance for this year and as good into next year and as cant expect more in this climate. Can look at the African countries as spiralling into an economic abyss or you can see the long term bilateral trade relationships we have as a valuable component of trade and respective prosperity.
Dotty is exactly where she needs to be with Gov relations and FIDs. Just need to execute 1 deal and we turn up a notch

Not convinced this isn't $20 shorters locked in and who blinks 1st. Monday will be telling 50:50 bet..