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I understand hedging and the need to manage risk.
Brent average is $82.62 to date this year, Tullow appears to be getting the strike price of hedges too low, understand the latest is $75/bbl.
Looking at various reporting, it appears the hedging loss is $250M over the last 18 months which would make a big impact on the debt level. Should we outsource the hedging programme to a major such as BP who have one of the best trading teams in the business.
Views appreciated by informed people as i have stuck with TLW for over 5 years and it appears now we are giving away too much of the upside which is reflected in the share price.
Hi Adam, a follow up question please as I invested at the time of your fund raise at £1.80/share and have held shares since this time so hopefully we are now at the floor in terms of how the Company is valued and that we will see enhanced value recognised by the market in the coming months.
Oncimmune has progressively focused its corporate strategy on the development and growth of its pharma services offering through the ImmunoINSIGHTS business. You have sold the Oncimmune's EarlyCDT® Lung product, EarlyCDT® platform and autoantibody development business for £13M so my question is what is the value of the ImmunoINSIGHTS business - and projected revenues to the year end given existing Pharma clients, pipeline of new sales ( from your investment is a much larger sales force) and the ongoing annual contract of £1.14M from Freenome. Many thanks.
Hi Adam, I was one of the people who bought Oncimmune at the time of the fund raise at £1.80/share and attended one of the presentations with your team. I have remained loyal to ONC throughout and the recent challenges, can you please share what the business hopes to achieve between now and the year. You talk about have relationships and contracts with 7 large pharma customers already in place, you have increased the size of the sales force, how can you address the issue of getting the samples back so you can realise increased revenues and improve the bottom line. thanks, Keith
I do not normally comment ( by the way 18 years in an oil company) however i confess confused as the share price has reduced so significantly over recent weeks which does not reflect the crude oil market itself or future price projections.
I believe Tullow is fundamentally a good company( shareholder for over 5 years) and disappointed with recent comments. In addition in terms of value add, the Company is projecting a significant upswing in production end June so why such negativity. The management has a plan, let's let them implement. Maybe there are issues in the background I am not aware or do not understand but what i say to everyone, time to support and motivate the Tullow Team to achieve the plan for 2023........I always found a pat on the back does wonders for morale.
Trading Economics report this evening:
"Brent crude futures rose more than 2.5% to around $77 per barrel on Wednesday, as investors are optimistic about the increasing demand for fuel. Gasoline inventories dropped more than expected as demand surged to its highest since 2021, the latest EIA report showed. On the other hand, US crude oil inventories unexpectedly rose by 5 million barrels last week, but due to another release from the Strategic Petroleum Reserve. SPR stocks decreased for the seventh consecutive week to the lowest level since September 1983. Also, refinery crude runs increased suggesting that crude supplies may become tighter in the future. Looking ahead, demand is expected to exceed supply by 2 million barrels per day in the second part of 2023 with China accounting for a substantial portion of it, the International Energy Agency (IEA) projection showed".
Given the comments below, all I can say is my experience with Vodafone is excellent, both mobile and Broadband, I have two accounts, one in Ireland and another in Portugal, my elderly mother and sister are also with Vodafone, the customer experience in the retail stores in Ireland is superb with experienced qualified customer supportive patient staff. in my view, this is a great company, my experience with other telecoms providers is comparatively poor. Suggest there are positives to consider about this Company.
They report the DVRG has £1 million of reserves, does anyone know the burn rate? how long will this last? seems a very low number given number of employees, assume someone has done an accurate verifiable cash flow forecast so that the newly appointed accountants can provide comment that it is in fact a "going concern". Jeffreys Henry LLP need to explain on what basis they made their March 2023 statement that there was nothing "material" to report.....this gives the market a bad name when professional firms cannot be relied upon.
How could Turner Pope get it so wrong having undertaken a fund raise last November? all very disappointing as one relies on the due diligence process for a fund raise.
I bought in at the time of the last placing, it would be good to hear what Turner Pope have to say?
I do not understand how the previous auditors Jeffreys Henry LLP could comment in March that there was nothing material to report, has anyone a view on this? what is the possibility to claim against their professional indemnity insurance as there announcement was totally misleading and has resulted in ALL shareholders suffering heavy losses.