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The RBL and subsequent sale of Uganda asset at a discounted albeit cash only deal has removed the requirement to urgently sell Kenya assets thus allowing TLW to push for a better deal on the sale.

Unless TLW have agreed that the proceeds of asset sales are for non bond debt reduction, I cant see urgency to rush to close on Kenya sale. The Uganda sale will likely place the ball in Kenya court if they want national oil production anytime soon.

Will Brent make it to $60 this year?

ARCM short wont close until debt is paid, it has little to do with court case and was opened a long time before the acquisition announcement

Would agree that governments are seriously concerned they got it wrong, there is no doubt that this CV thing is deadly but not for 99% of people. Of the 1% it threatens there has to be more options to keep them safe. Otherwise were all fcuked

Undervalues African assets, because their in Africa. Everything in Africa ends up with a valuation subject to a factor related to corruption.

I hear ya on Africa, any deal is as good as the sitting dictators tenure and that's as good as it gets. When governments start arguing tax contradicting their own law enough said. I say get out fast

Let's see how they all feel when the paltry handouts dry up, but the DOW is moving back up so we know where the big handouts went

What a life you lead,

Is it like custers last stand?

Go on Muir, tell us all how that short attack works like a good fella, and is it cheap.

People forgetting the structure of previous deal which ran foul of Ugandan tax authorities. This is cash and tax issues settled and considering the climate tlw did will to extricate from Uganda. It's not great and not terrible. But 575million usd will reduce interest by approx 35million PA, or breakeven by about 1.4usd / bbl. I consider the deal to be critical, now let's have oil over 40/bbl

https://oilprice.com/Latest-Energy-News/World-News/Shell-Postpones-Investment-On-Two-Major-Oil-Projects.html

Is shearwater one of the potential acquisitions?

YE, 3rd March this was 32p and it was never above that since. When was it again you sold in mid 30,s?

YE

I have tlw in a pretax cash flow positive position of approx 200million for year at 80kbod and $25/bbl average for all oil and hedge 60% oil at $57. What do your sums come up with?

It's not water were talking about,

With all production shut in all inventories everywhere will be gone in 30 days, and some (maybe 5mbod) might never come back and in 6 months the shortage could be severe enough to spike oil into the 100++ area which would really fk up the general recovery process. I'm all for the idea but I think that the general good needs considering too.

Maybe I wasnt brought up in the UK and we were a bit behind the advanced UK at the time!

EC, you must be young.
Electricity generation via oil is probably 3% tops. I think the choking smog you refer to arises from coal burning power generation. In China coal is being replaced by gas which is significantly cleaner. But India is burning a lot of coal.

Us older guys will remember smog you could taste in the 70,s as most houses heated with coal fires. Later anthracite and then replaced by usually gas.

Excellent input Colonel

Lovely to see the system exposed and flogged.

The statement was "oil is finished" implies immediate! Of course it's a bull**** statement as was my sarcastic response!

Oils no more finished than beer drinking is finished or going out doors is finished