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Hedged at 55, I must be reading the multiple release re hedging wrong

What am I missing

2022 hedged volume is 42kbod at ceiling 78 and premium 1.8.

2023 hedged volume is 33kbod at ceiling 75 and premium 2

Where do you get your figures

It was a hell of a ride, everything in it from convertibles to reverse takeovers. Probably a few more twists and turns here too, but looking good for £ in 2023

Exactly, PS how did you do on PMO. I sold avg 124p. Bought avg 49p

Agree, and disappointed with 2022 production but tlw have decided that ten needs a new direction which cost some time and probably less effective interventions than anticipated. So they know now, and hedges provide earnings security. For all of us. 2023 was always going to be the year. If we do well on the way there all the better

They own 10.04% of the stock, I'd say they are taking advantage of volatility and building position with long term view.

So they added 14million shares last week, they are confident I guess!

So, we sold non operated assets last year, one could argue cheaply based on today's oil price. That was 6kbod I believe, to be replaced by 6kbod when preemption completes. Which will bring us back to 61/67. Had we not sold NO assets this would be 67/73. Maybe the addition 2kbod is the faster decline in TEN. Next year, TLW will be at mid 70s oil production based on current planning. I see the concern on production but it's related to timing

Deal/no deal, war, no war were heading into spring and higher demand. On top of that, the EIA miscalculated oil demand by 200mbo. That a lot of oil that's not in storages which they thought was. Not sure of benefits to TLW, as our near term catalysts are the preemption and news on Kenya. 2023 was always going to be TLWs year, and I still think that.

Not pretty but we are 20% up on the month

Bonds are steady, and the shorts we have are connected to hedges on bonds. Tlw was 42 mid December, its 54 now. That's just how it is. The hedges make this a long term play, debt must drop and production increase and that's about 1 year away

Are the hedged barrels cheaper in 2022 than 2021, seems 2021 was very high cost for hedges!

Gearing will likely get to 1.5x in 2023, late or early 2024. Increased production is key

Pichet are buying tlw bonds, and hedging them with short on stock. Hence the irrational appearance, they are long on the bonds

The correction you speak about is long overdue, but due to chronic under investment in energy (mostly oil and gas) the market will shift focus to these companies. Tech and the like will suffer. We are into an energy shift, but its going to be much slower than originally wished for. That's just a fact.

Just ignore them, they have an update next week or something and trying to get PIs interested.

Focus on producing assets, and getting most out of them. I presume its same reason we left Uganda and some SA assets. Cant afford to be in risky exploration?

UT is 57.00p, yet Google finance indicating 54.7p. I remember this kinda manipulation from PMO days. Anyone care to comment on this, is it to shake the weaker holders up or is there more to it

Jan, same can be said of other Oilers including Enquest which kicked the can down the road on bonds rolling interest into principle for years. That didnt stop you or infact me putting money into them, as we wait for 100 oil and a few years of good times.

I guessed as much, but I just had to call him something. I was going with infantile prat, or ninkinpoop but idiot was a quicker easier solution