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Down to 118 this morning. As expected the risky acquisition has led to the share price dropping.
It seems this is going sub 120 again for the short term. UK retail is on the floor, that's the bottom line. It's not the fault of JD management.
Profits were taken at 380 yesterday. This will be shorter back down to 345 level.
For context Tullow exited the orange basin which is a stones throw from where the potential 10 billion barrel discovery was made. The Mopane field is located in the Orange basin, along Namibia's coast, where Shell and France's TotalEnergies have made several oil and gas discoveries. Very poor business move from tullow leadership.
In 2022 this was Rahuls comment when they left -No regrets’: Tullow boss explains reasons behind Orange basin exit in Namibia
London-listed independent quit a block directly north of TotalEnergies’ 3 billion barrel Venus discovery
Ironic that tullow excited those Namibia oil fields all those years ago. https://www.reuters.com/business/energy/portugals-galp-says-field-off-namibia-could-contain-10-bln-barrels-oil-2024-04-21/
It looks like this is been shorted back down, at 122 now. Well done to whoever sold at 127 this morning.
It seems like a rapid expansion at a time when the majority of retail is in decline. Have you walked down a main street of a town or city in the UK recently? Since COVID there is nothing but vape shops and barbers on
our main streets. Clothing retailers bar the likes of Primark are under huge pressure after weak outlooks from the likes of Nike and Puma.
When the recession does worsen this expansion may prove to have been a huge mistake.
Expect sp to remain flat until the next big date on the calendar , 16/05/2024 for earnings. Will be interesting to see how much of an impact the rise in oil prices has impacted on tullows earnings.
British rival JD Sports to buy Hibbett in $1.08 bln all-cash deal. It seems like a lot of debt to be taking on with a very weak economic outlook. I honestly thought the sp would fall this morning.
Only problem now is the cost of living crisis. It's on average 120- 150 pounds for a pair of decent trainers from JD. Majority of people don't have that kind of money to spend these days. It usually takes a year or 2 from the start of a recession for things to get really bad.
I would gladly take part in this organised chaos. It could be the tullow on tour session that would be a right knees up. Jmax et al all welcome.
Tullow seeing a dip today. Looks to be trending downwards again
35.90
-0.62
(-1.69%)
Easy Joey, there's nothing fake about the monopoly the shorters have on this share at the moment. We should be at 40 p by not with the middle east conflict escalating.
Too many trolls around this place. Libertas pass go and collect 200 pounds.
Is Stalin jmax in disguise or am I mistaken.
Reading stalins posts has made a lot of people question if they need to spend a few weeks in Broadmoor!
It's astounding that this has dropped 6 per cent in one day. Oil price is at a six month high, I reckon the shorters are laughing all the way.
It looks like shorters have taken hold again. Will be shorting this back to 26 p.
I have sold lock stock and barrell at 38.50. it's been a great ride. Gla