Member Info for Romeike

Tullow is the operator of the Kenya project holding a 50% stake. If true the deal would see Tullow relinquish operatorship to CNOOC alongside 20% of its stake, leaving Tullow with 30%. Total would part with 12.5%, half of its current holding. There would be no change in Africa Oil's holding.

Note mention of NDA

if it turns out to be true and the sale value is reasonable, then yes. I'm pretty optimistic, the rationale for a deal with CNOOC is there and it seems likely they will do a fair trade.

It is rumour of course, but actually I presumed that CNOOC would potentially be interested as they know Kenya and are active along with Tullow in Uganda next door. I would be very happy if Tullow manage to get a good price for their stake while retaining a presence. Unlike Tullow who has no backing in the country from the worthless UK government, as operator CNOOC will be able to apply all the pressure needed to get this project done.

The best thing about the article is that if true then they are motivated buyers as well as CNOOC has some infrastructure in Kenya as well as assets in next door Uganda, I can hope there would be a fair arrangement.

Daily Nation is a tabloid, that's like expecting a Daily Express headline to make any sense at all

Seems like it depends on your agenda.

Finally the recent agreement between the Saudis and Kuwait after a long-simmering dispute over the Neutral Zone oil fields operated by Chevron and subsequent near-term production will have zero impact on global oil prices because this field produces exclusively heavy crude, up to 500,000 b/d. Worldwide demand outside of China is still robust for this grade particularly since US sanctions have crippled Iranian exports and Venezuela's increased but still limited production is not meeting demand.

https://seekingalpha.com/article/4326147-opec-oil-price-challenge-catching-falling-knife

Probably a good idea. Let's face it the current share price is disconnected from all fundamentals and is based purely on huge punishment of what was a very successful company before the last CEO decided to break the trust of the markets. It's going to take time to repair that. Companies with board members caught with their hands in the till or playing fast and loose with their accounting have been punished far less than this has.

Not to mention all the road building going on as well and the money going into the refinery isn't all from Gov of UG, much of it is from Kenya and Tanzania too..

Panic about the infection count seem misplaced given the infection numbers are more than likely a complete fantasy to begin with and in reality far, far higher. What matters is deaths and so far this remains an extremely mild illness. South Korea has dropped the ball big time but it looks like they are getting on top of it now.

The only reality here is that your post is ignorant nonsense.

What a load of racist crap

The treasury team at Tullow is already in discussions over converting nearer term lending into longer term debt. In the meantime Tullow has substantial actual cash flow from operations despite the forecasts, and over a billion in headroom. Talk of rights issues are premature to say the least, and wouldn't be the end of the world even if it did happen.

New shorters wasted no time getting their shares sold. Can it really go much lower? I don't know how they expect to make money, surely the big drop has already happened. It is not about two yeard time, the shorts don't last long.

The worst thing about this virus, other than those who have sadly died, is the utter trash put about on social media.

Yes, I was so shocked to see that just before close as usual. It's almost as if it happens every time there is a rise.

"we should get the full year results 12 March and hopefully the New CEO will be announced before" - happy to be corrected but I am certain Dorothy said that an announcement about the CEO may be made AFTER the review on 12 March.

The drop has been absolutely brutal for long term holders but the SP being at such an irrationally low level compared to assets and revenues only serves to further expectations of a recovery to a more sensible price range. Looking at other examples where this level of punishment has happened we can reasonably expect 3 -6 months for a recovery to begin. At the end of the day the company has strong revenues even at 75K bpd and as difficult as it appears today, getting rid of the bad quality management will likely see Tullow in a much better position in two years than it would have been if he'd been allowed to stay on.

Possibly OPEC+ announcement today. Hopefully the Russians see sense and support some additional production curtailment until at least July.

I would not be surprised if the new CEO is a protege of Mr.SDA, and of African heritage.