Member Info for Phoenixy

Take it easy Rock — very helpful!!!
I am just trying to seek some knowledge or advise from people in this situation.
And, what’s the eligibility criteria for big boys btw? I thought everybody were welcome here!

Hi folks
Anyone knows what the tax rate and capital gain tax will be if I sell part of my various holdings with gains of -
£50k
£100k
£200k

No other income. I understand it’s Gain less CGT allowance times 20% flat rate irrespective of size of gain.
Thanks

Happy,
There’s a big gap that needs to be filled.. think it’s upto 80-85p range, and then it’s 120-130 range. We could be close to 80p by end of April if not March. (Some say 90p by 3pm)
Also, the refinancing won’t happen until end of June so there could be more pain if oil continues to climb.
ATB!

Target 75p by MS... not far from 90p her!

Thanks again Roxbury.
Final point as I want to be absolutely clear if you don’t mind. Assuming the oil at expiry was $70.47/bl, then Tlw will have to pay $4 to the counterparty on c. 62% of oil production. So, basically we only realise $66.47 on 100% of production as any excess will be returned to the counterparty on c. 62% of production. The upside on c. 38% of production will be used to pay the counterparty which will only cover part of c. 68% production.

Thanks for the clarification Roxbury. So, our risks and rewards pertain to 38% of oil production only?

No body expected oil to go negative in their wildest dreams, but we all know what happened last year. Better to be prepared than to be sorry.

Jmax,
The same people who hedged at $48 with the same reason when oil was around $48.

Runningman,

I am happy with ceiling of $75 and probably most of us here are too.

But, whar if the oil price collapsed to $50 or less? We are not here to breakeven, with 2/3rd of our production for 2021 hedged at $48, can result in serious going concern issues if oil price plummets. I guess that probably may not happen, but that’s what hedges are there for. I want to sleep sound at night and not worry about oil price movements. (Eg oil price war between SA and Russia last March resulting in 30% collapse overnight)

ATB! Ok

Runningman,
As an investor, we want the company to maximise shareholders return which is the prime responsibility of directors of the company. Nothing illegal is being done! It protects all stakeholders and keeps shareholders happy too.. just my opinion!

Not sure how expensive it could be, but presumably better than oil price at $60 or less. Just for argument sake, the difference of $20 (spot price at $68 less floor at $48) for 40k barrels amounts to $288million.

Yes, but having hedge at $68 (let’s say) sets the minimum for 40k barrels then having hedge at $48.

I understand Tullow have hedged 40k barrels with floor price being @$48 for 2021. Given the oil price currently around $68, would it not be prudent to un-hedge at $48 and re-hedge at $68? That’s a big $20 difference. There may be a small fee but in the grand scheme of things, it’s probably immaterial.

Top up under 52p. Just had to top up on back of the published results. Cheaper then chips!
Not a financial advise :)

All we need is positive outcome from Suriname, good refinancing terms, 80 to 90k production next year and $80 POO. Easy peasy!! Lol

Next stop Ftse 100! Same time next year?

12th March, The day i got married 3 years ago! Bring on the fireworks...lol

Saudis and other Opec nations have had taken a big hit by cutting production over the past year compounded with oil price at all time low levels. Given that they are still willing to reduce the daily production implies they want the oil price to be much much higher. All that effort is just not to get to $70, $80, $90 but also to recover the losses they have incurred during the past year. All being well, oil could get to all time highs of $147 or even more in the near future or so.

And, when it comes to TLWs share price, which is what we all are interested in, if all goes well in relation to refinancing and we get a clean audit with no qualification and going concern issues, the sp is way way undervalued. And, when the wheels start turning next year with expected increase in production to maybe 80k or even 90k, even sp of £2 will be achievable which would still seem quite low.

Just keep all three eyes open and think big! All IMO ofcourse!

If Oil price can go negative, Trump can win us elections, brexit can happen and Leicester can win premier league, Gme can get to usd 500, why can’t PMO (HE) get to £1. All we need is patience...

Not sure whether this has been brought into discussion before!

As per the July trading statement,
“As a result of lower near-term oil price forecasts, and a revision in the Group's long-term oil price assumption from $65/bbl to $60/bbl, the Group expects material impairment and exploration write-offs to be recorded at the half-year in the range of $1.4-1.7 billion (pre-tax).”

Current oil price is already at $60 with better outlook for rest of the year. Could this result in reversal of aggressive impairment losses taken in H1 2020. This will positively affect RBL determination and may have a small surplus to the final 2020 results.

Slift and Jubileey makes me wonder whether they are husband and wife... never agree with each other, and yet can’t live without each other...Lol!
Please don’t go at me now!