Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
First tullow Agm i've looked forward to, things are looking good.
This is brand new "buy" recommendation from Peel Hunt - target of 80p.
I guess this is why the Sp has been creeping up last 5% days.
https://www.google.com/finance/quote/TLW:LON?window=5D
The media is reporting buyers ....India's leading overseas oil company, ONGC Videsh, has partnered with Oil India (NS:OILI) to replace Indian Oil (NS:IOC) in the potential acquisition of a 50% stake in Tullow Oil Plc (LON:TLW)'s $3.4 billion oilfield project in Kenya, according to sources familiar with the matter. However, they now face fierce competition from Chinese energy giant Sinopec, which is capitalizing on delays by the Indian side to finalize the deal.
https://in.investing.com/news/ongc-and-oil-india-face-competition-from-sinopec-for-50-share-in-kenyas-oilfield-3653970
Resources are expected to increase from 231 Million Barrels to 461 million barrels.
We just got a free 230 Million Barrels of assets ? and we can sell it ? That clears our debt ?
India's leading overseas oil company, ONGC Videsh, has partnered with Oil India (NS:OILI) to replace Indian Oil (NS:IOC) in the potential acquisition of a 50% stake in Tullow Oil Plc (LON:TLW)'s $3.4 billion oilfield project in Kenya, according to sources familiar with the matter. However, they now face fierce competition from Chinese energy giant Sinopec, which is capitalizing on delays by the Indian side to finalize the deal.
Initially, ONGC Videsh—the international arm of state-owned Oil and Natural Gas Corporation (NS:ONGC), sought to acquire half of the stakes held by Tullow, Africa Oil Corp., and TotalEnergies SE in Kenya's Lokichar oilfield. The board of OVL approved this move but wanted IOC involved; it had also expressed interest in participating.
For months, negotiations between OVL-IOC took place regarding their share in the project. Unfortunately, due to financial strains resulting from losses on fuel sales caused IOC to have second thoughts about moving forward with this transaction.
Sources revealed that during a visit by a Kenyan ministerial delegation at India Energy Week held earlier this year in Bengaluru, where officials confirmed IOC would not proceed—state-owned firm Oil India Ltd was announced as its replacement partner.
The prolonged delay opened up an opportunity for China Petroleum & Chemical Corporation (Sinopec), who are now sending feelers out towards Tullow and other partners involved within this venture.
Tullow, led by India-origin CEO Rahul Dhir, initially favored the Indian consortium due to similarities between Kenya's project and Barmer fields in Rajasthan. Approximately 70% of supply chain sourcing could have been done from India, providing significant synergy for both parties.
However, Chinese interest may disrupt these plans as Beijing holds substantial influence over African nations such as Kenya.
If successful in their negotiations, OVL-OIL would become joint operators of this venture alongside Tullow—currently holding a 50% stake—as well as Africa Oil Corp and TotalEnergies SE who each possess a 25% stake. The three companies were planning to sell half of their stakes to the Indians.
Risky arguments could stop investors. Please stop.
Tullow has gone through all the pain, trouble, hardship with covid crash and we are well over the mountain and walking down the other side . Debt is coming down, oil is very high and predicted to go much higher, hedges are falling off, increased production is happening this year, dividends will be paid in 2 years. Earnings are forecast to grow 38.85% per year.... The Sp will come good. Analysts value Tullow at - Canaccord Genuity Group 54p - JPMorgan Chase 56p - Barclays 62p - Berenberg Bank 90p
Also Simply wall street has tullow at 61p https://simplywall.st/stocks/gb/energy/lse-tlw/tullow-oil-shares/valuation
Ok Dong. Please repost my last POG posts... and you will look like an idiot. I sold my shares and warned the market. Don't spread bs. I traded TLW for 3 years. I traded PMO/HBR for 3 years. I trade Gold stocks also.
Yes to upside + all the costs attached with the hedges are gone. and they cost $millions.
its now very good. 12 more months for the other large chunk to fall off.
They put hedges in place in order to secure borrowing when covid hit.
looking good.
End of March HBR jumped 50 points in 7 days following oil when opec cut production. it will happen again.
the sp will probably end the day at 244.50 again.
HBR is one of the best shares in the FTSE. chill life is good.
Oil rising, really good for Tullow. 24% of bad hedges have finally come off ! Profits will sky rocket now
AGM next week
Been following and investing in tullow since covid crash, after waiting for several months I made a big purchase today as a strong feeling the SP is way way way too low and knowing Tullow isn't going anywhere, financials are solid. Tullow has so much potential, they are ahead of plans and if oil goes back to $90++ then Tullow sp will move with the oil price unlike before. So if you think oil will rise then it's worth a punt.
Tullow had some low oil price hedges that finally dropped off, Profit jumps in June. Market knows this
"Tullow’s commodity hedge portfolio provides oil price downside protection at $55/bbl for c.64% of forecast sales volumes to May 2023 and c.40% of forecast sales volumes from June 2023 through to May 2024"
So that 24% @ $55 has ended and tullow will now be getting todays price $76. To be honest they should RNS on this. Its great news.
Just picked up a handful of shares.
India’s government this week slashed the windfall tax on domestically-produced crude oil to zero, effective May 16, according to a government notification cited by Reuters. In July last year, India slapped a windfall tax on the country’s oil producers and oil refiners who were exporting more due to the high international price of crude oil and refined products. The new taxes were aimed to serve as an incentive to keep more product at home and export less.
“As exports are becoming highly remunerative, it has been seen that certain refiners are drying out their pumps in the domestic market,” a government-issued statement said at the time.
India reviewed tax rates on crude oil and fuels every two weeks, based on the average oil prices in the past two weeks.
https://oilprice.com/Latest-Energy-News/World-News/India-Cuts-Crude-Oil-Windfall-Tax-To-Zero.html
"The decline in oil prices over the past few weeks contrasts with an expected tightening of the market later this year when demand exceeds supply by nearly 2 million barrels per day (bpd), the International Energy Agency (IEA) said on Tuesday"
https://oilprice.com/Energy/Energy-General/IEA-Oil-Bears-Are-Disregarding-An-Imminent-Supply-Shortage.html
Harbour is very very twitchy on the upside... when oil spikes... HBR spikes...
CFO needs to pay off the 2 billion debt and shout about it and stop talking about free cash flow. its as annoying as a daughter with a £200,000 credit card debt and saying oh its ok I have £200 left each month after being paid with the interest is taken out.
The Average share price based an 11 analysts is £4.28
Simply Wall street has it at £4.14 a share https://simplywall.st/stocks/gb/energy/lse-hbr/harbour-energy-shares
Trading at 42.1% below estimate of its fair value
Earnings are forecast to grow 20.97% per year