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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
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.
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
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.
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.