Tullow5 May 2021 12:06
Hi guys, have been reading this thread for a while, lost loads in sxx, hoping to make up those lost funds in Tullow (made up around half so far). Have a strong conviction Tullow will turnaround, previous management got their forecasts totally wrong as well all know however key points:The very quick deleveraging prior to covid resulting in huge reductions in G&AThe reduction in debt with asset sales The very low cost producing fields in Ghana with opex around $9 bpdThe Kenya asset with proven oil reservesThe exploration license in Guyana, hopefully in the mid term they will drill by Hammerhead (Aurituk and Latuk), CoS seems very high.I can recall when Premier OIL were engaged in a major refinancing structure, although a different macro economic environment, when they succeeded the share price rose exponentially to around £1.50 from a low of around 23p. In regards to your questions JJ, from memory Rahul said production would ramp up by 8000bpd on each of two in fill wells and another 6000bpd I believe with water injection. Cannot remember if he said that on capital markets day or the recent investor presentation. He said drilling would complete on average 70 days for each well. So possibly looking at 21000bpd increase, taking total to around 75000 to 80000bpd.Ranj