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It must be a very shallow well:)

Equinor has 4 personnel on lockdown and there must be a high risk of people bringing this onboard. I can see force majeurs being declared in many locations. This then becomes insurance problem?

I see Corona shuttering in production on rigs offshore next followed by land installations thereafter. SA and Russia wont need to act.

What's gonna happen oil production facilities are shut in because of this virus.

Would be nice if her majesty govt allowed pmo to transfer tax loss credits to BP against last years UK profits to help fund the acquisition. If the ER RI goes ahead at these prices there will massive dilution

Daniel Yergin thinks this is just starting, more and more countries and states going to enter lockdown and that is going to pummeled.

Also, could the tax loss credit be used in some way to barter with revenue/govt. In other words cancel some high percentage in lieu of loans. Nothing for nothing and this is after all an emergency of unrivalled proportions with worse in the pipeline.

Thanks fernan10

For sure they need to reverse out of the current plan. Are there options to renegotiate such as cancel the Dana purchase and renogiate price with BP. Possible to revisit in 2021 when eventually cash available from zama, or simply pay down debt. The strategy to take advantage of tax losses was correct but this is a black swan event and not prudent now. Maybe the UK government could provide low interest loans to suffering oil companies to help with liquidity and even expansion during this crazy times. The US is looking to do something along these lines. The current burdens on debt are really high. I think your 7% is conservative. PS. Tullow, Enquest and PMO are all UK companies that should be supported. Not bailed out, supported in some way or other. Directly and indirectly they employ many thousands of skilled professionals

These must be worth a punt now.

RDSB BE is 55, BP is 45

I'm trying to find an oiler that won't be in lenders control.

You need to add decommissioning of 1billion

I think your wrong, buyers would be looking to take advantage of the low prices. And thinking 10 years ahead. This is primarily Africa based production and reserves and tullow has a low cost base if you strip out capex. The Chinese have a lot going on and there could be synergies for some of their other activities including construction arms re pipelines construction. Total I doubt would be interested unless in part for something producing and cheap.

Wrt to the arbitration, what is the potential penalty if decision goes in India favour

https://www.standard.co.uk/business/premier-oil-takes-a-well-deserved-tumble-in-price-a4383546.html

It survived on continuous investment from banks and its drying up. No/low returns. Once bitten etc

This is choreographed. Russia has been dumping dollars for gold for 3 years. They have 200billion sovereign wealth fund in a country with annual income less than 10kus per year. Saudi and Russians are in cahoots. 3 years they are subsidize shale at a point they were barely covering loan repayments with 10 billion only being due in 2019. 2020 40 billion due and 2021 90billion due. The other side of perpetual low interest rates is about to pop its cork. Banks have been using these for higher returns but now debt due and oil has been crashed. Oil might recover to 40/45 but is here for a while and depending on CV could be a lot lower which will speed up the default process somewhat.

Understand the thought but who buys based on a short time frame, surely the purchase is based on 10 to 15 year timeline. Not to mention the II,s won't be too happy about such a low valuation.

The Chinese have a serious interest in all things Africa and the Kenyan asset would have a pipeline built in 1 year if they bought it.

If tlw were desperate I could see fire sale but right now I don't think they are there.

That said I would be happy with anything over 30p

https://www.irishtimes.com/business/energy-and-resources/tullow-oil-bonds-slump-as-focus-turns-to-2-8bn-debt-1.4197620

What's it worth mega.