Member Info for Romeike

Tell me about it, this has always been my worry since last year, it takes time to get a good CEO and in the meantime there is not much really to help the SP. Dorothy hinted there may be an announcement re: CEO after March review. I optimistically take that as they know who they want and matters are being finalized. Despite some comments earlier the CEO position of a major independent will be a very attractive role and I expect there have been a lot of candidates.

Yes, hence communication black out. I guess it makes sense. Recovery will initially be sentiment driven, just as the drop was. New CEO must restore trust and provide certainty.

Third week of March

The catalyst for the first major move up will likely be CEO announcement

Why I think there won't be a cheap take over:
Board have not come out and stated they are looking to sell the company as their primary strategy and they are not actively inviting bids.
SDA is interested to keep Tullow independent, he will not be supporting some low ball bid.
2.8bn poison pill.
Board could have appointed an off the shelf CEO in Dec/Jan but didn't, indicating they are genuinely looking for a candidate to turn things around.
None of the issues are insurmountable, a reasonably competent CEO could resolve most, if not all of the problems, there is therefore no motivation to sell at this point and it certainly could not be described as in the interest of shareholders.

We need institutional buying to take this up, but institutional buying simple won't happen under the current circumstances. Get a CEO, get a strategy, improve the culture and start resolving issues.

"New" US production already dropping, flat production growth is being propped up by tapping DUC wells, which at the current rate should be used up within a year, assuming they are all productive that DUC counts are accurate.

@Tornadotony Spot on. Exactly. This billionaire isn't throwing money at Tullow shares for nothing. He knows the assets, and he knows the cyclical nature of the business.

If I had to guess I'd reckon on it being our friends at Squarepoint Ops.

There seems to be a almost desperate attempt to get this down to 39p. The fact is whatever the SP is right now doesn't bear any reflection on where it might be once a recovery is in play.

not buying*

The same emotions regarding this sentiment driven share that make you consider selling are the same reason institutions are now buying. The ship is rudderless, almost any of Tullows peer are "a better bet" right now if only because they have proper leadership and strategy in place. Tullow is nothing but uncertainty until it acquires a leader and a strategy. And uncertainty is lethal for a share price.

As chair she will see her primary responsibility as preparing the ground for the new CEO by completing the strategic review. I think any positive news will be the preserve of the incoming CEO. Any CEO worth their salt is unlikely to formalize their acceptance before reading the results of the strategic review. I am really hoping that a CEO announcement is made shortly following the review and Tullow can start to move on from the McDade disaster.

What really matters will be the trading updates, specifically Ghana production.

I believe it will be at least 140p within 2 years

An interesting assumption however it seems they have already been meeting with candidates, so not sure that can be true.

Would like to think so, but being realistic we are looking at 41p by Friday as there is no let up yet in the downward trend. Board need to announce new CEO as soon as possible.

reduce stake is the same as farm down....

They need to reduce their stake in projects. Does Tullow really need 30%+ stakes in projects such that it can't even afford to develop? Too much of McDade trying to play the big major instead of sticking to the model that made Tullow successful.

There is no range, this has consistently been pushed down to lower low after low each week. The price has nothing to do with valuations or fundamentals at this point it is pure sentiment and speculation. A new CEO is often the catalyst that kicks off recovery and renewed trust and the market has a short memory for issues when the share price is headed in the right direction. The new CEO will need to turn any tentative recovery into long term performance improvement.