Member Info for Persiantrader

Nothing to do with the North Slopes. Its regarding the wildlife reserve in the Arctic

88e sp will rise if anything as other have limitations as 88e don't

History suggests upside when drilling as the Prize is massive. No more placements. When it's ready to go people will be jumping in just like last time. seen it all before.

https://www.google.com/finance/quote/HE1:LON?window=MAX

Warren Buffett once said that it is wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful.

There was a HE1 placing on the 16th April 2021 https://www.lse.co.uk/rns/HE1/placing-and-subscription-to-raise-16310-million-0yqbbubbkr72spc.html

The SP ended UP on the day of placing and then 14 days later the SP Doubles from 10p to 20p. see for yourself

https://www.google.com/finance/quote/HE1:LON?hl=en&window=5Y

so being conservative now, the sp target drilling should be 11p

SP should move up sharply now.

Each $1 Oil gives tullow around $20m extra a year

https://www.dailyfx.com/crude-oil live oil price.

Operations update

· First half 2023 Group production averaged c.53 kboepd. Net production in the first half of the year from the Jubilee and TEN fields averaged c.28 kbopd and c.11 kbopd, respectively, and net production from Gabon and Côte d'Ivoire averaged c.14 kboepd. Full year group guidance remains unchanged at 58-64 kboepd.

· Jubilee South East (JSE) is due onstream imminently. Three JSE producers and one JSE water injector are expected onstream this year to help sustain gross Jubilee production over 100 kbopd. Tullow and its Partners plan to maintain this increased level of production at Jubilee over the next few years through an ongoing infill drilling programme. Future drilling locations have been identified to further extend this plateau and realise the full potential of the significant Jubilee resource base.

· Planned TEN shutdown is underway, seeking to improve gas handling and support reduced flaring. The amended TEN Plan of Development is being finalised following good engagement with the Government of Ghana.

· Production efficiency across the TEN and Jubilee FPSOs has been high, averaging 97% uptime in the first half of 2023.

· Commercial terms for the long-term gas sales agreement are under discussion with the Government of Ghana. The agreement will not only enhance energy security in Ghana but also add another revenue stream for Tullow and result in the addition of c.150-200 bcf of net gas reserves on TEN.

· Approval has been received from the Government of Gabon for the cashless asset swap agreement announced in April. The asset swap with Perenco optimises Tullow's equity ownership and places the Tchatamba facilities as a core production hub for the Group.

Financial update

· Total revenue in the first half, including the cost of hedging, of c.$0.8 billion at a realised average oil price of c.$81/bbl before hedging and c.$74/bbl after hedging.

· Capital expenditure of c.$200 million in the first half; full year capital expenditure guidance remains c.$400 million.

· Decommissioning expenditure of c.$40 million. Full year guidance is reduced to c.$70 million due to deferrals into 2024. As previously announced, a further c.$20 million will be paid into escrow in 2023 for future decommissioning obligations in Ghana and Gabon.

· Free cash flow of negative c.$100 million in the first half, in line with expectations. Significant reversal expected in the second half of the year, with c.$200 million free cash flow generated at $80/bbl. Full year free cash flow guidance remains unchanged at c.$100 million at $80/bbl. **** THE OIL PRICE IS $89 !! NOW NOT $80 !!******

· Purchase of c.$166 million of the 2025 Notes for c.$100 million cash consideration announced in June, delivering value accretion of c.$86 million from a combination of a c.$66 million net debt reduction and coupon savings to maturity of c.$20 million.

· Gross debt reduced by c.$266 million in the first half of 2023 through a combination of the 2

$89 Oil is incredible for Tullow. Looking so good !

Annual earnings is expected to grow at 45.5% per year.

EPS is expected to grow by 38.9%. Return on equity is forecast to be 62% in 3 years.

average prediction of Tullows Earnings this year end is forecasted $329m which should double our market cap.

see the facts here https://simplywall.st/stocks/gb/energy/lse-tlw/tullow-oil-shares/future

IG sentiment data shows that 95% of clients with open positions on the share (as of 5 September 2023) expect the price to rise over the near term.

Below Fair Value: TLW (£0.38) is trading below estimate of fair value (£0.72)

Trading at 47.2% below our estimate of its fair value

TLW's earnings (45.5% per year) are forecast to grow faster than the UK market (10.4% per year).

Future ROE: TLW's Return on Equity is forecast to be very high in 3 years time (62%).

Tullow valuation 72p (based on 6 analysts)

see for yourself: https://simplywall.st/stocks/gb/energy/lse-tlw/tullow-oil-shares/valuation

Https://www.dailyfx.com/crude-oil

Tullow will be printing money

Tullow SP is going to sky rocket !!

@happy, I would think Linda would look more at Tullow than Enq as HBR are looking at Africa. Tullow is the only company on uk market that doesn't pay windfall tax (tax in africa). I used to hold Enq until windfall. such a shame how a gov can tax the life out of enq and hbr. its terrible.

Every $1 Dollar oil is worth about $20m to Tullow a Year.

If you believe oil will keep rising then Tullow is the Best Oil Play on the UK market.

no windfall tax.

Https://www.google.com/finance/quote/TLW:LON?comparison=&window=6M

take a look. forward momentum.

also playing catch up on the 1 year, still -25% @ 50p but its heading back to it ! tons of short term quick upside.

https://www.google.com/finance/quote/TLW:LON?comparison=&window=1Y

Oil is also rising ^^^^^

We need anton back in, all us LTH know this is going back to 40p - 60p - 90p as oil is rising. we don't care about 37p

Https://www.dailyfx.com/crude-oil

So good for Tullow

Tullows Interim Results are 13th Sep

https://www.lse.co.uk/FinanceDiary.html?shareprice=TLW&share=Tullow-Oil

@ $87 brent Tullow will get around $120m-$150m a year for that extra $7 oil

if oil keeps rising then profits surge.

Its happening....hopefully we find out this month. 120k bopd project.

The Energy and Petroleum Regulatory Authority (Epra) in Kenya plans to revise the fuel pricing formula to incorporate a local oil component should the country begin commercial oil production in Turkana. Epra will carry out a cost of service study to determine the real costs involved in the supply of petroleum products, from acquisition to delivery to the end consumer.

Recent changes to the fuel pricing formula in Kenya have allowed maximum wholesale and retail prices to be set. However, Epra believes that the current restrictions in the supply chain caused by the Covid-19 pandemic and the conflict between Russia and Ukraine justify a reassessment of pricing parameters in the oil value chain.

The regulator aims to create a flexible formula that can be adjusted to accommodate the potential exploitation of Kenya's oil reserves. Kenya is estimated to have approximately 2.85 billion barrels of crude oil deposits, with the South Lokichar Basin in Turkana having about 560 million barrels that are commercially viable.

British company Tullow Oil currently has 100% of the oil blocks in Turkana, but is looking for an investment partner to move the project forward. The decision on the fate of the project, which requires an estimated investment of around Sh400 billion, is expected to be made in September and will have a significant impact on Tullow's ability to attract strategic investors.

The review of Epra's pricing formula aims to ensure that it is robust enough to accommodate local petroleum products once production begins in the country's oil reserves. The study will re-evaluate the variables that must be included in the formula to accurately capture the costs incurred in the supply of petroleum products.

Investor Relations

You

Dear

Our operations in Gabon are currently unaffected by the ongoing political activity and production continues as normal. We will continue to monitor the situation closely and will work with the operators of our fields as necessary.

Regards

Tullow IR