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OPEC and its allies are considering cutting their oil output by a further 500,000 barrels per day due to the impact on oil demand from the coronavirus.

Not one article out there saying "Tullow sees 'significant' oil increase at the Orinduik Block" or similar. What the hell is wrong with them.

You would think so given they are the majority partner ffs. ECO must despair of Tullow BOD right now.

Leads in the Tertiary aged section are estimated to contain 1.2bn barrels of oil equivalent, whilst the Cretaceous section holds an estimated 3.9bn barrels with two targets, Amaila/Kumaka and Iatuk-D, containing in excess of 725m barrels each.

Looks like there will be a follow up release regarding the economics and logistics around extracting from Jethro. The decision will be whether to go after the oil they know is there versus drilling for a better oil in the cretaceous. Perhaps Tullow could use some of the 100m they failed, for whatever reason, to include in fcf forecasts given that decommissioning was a one off cost.

Dorothy might think that Tullow can't afford to drill Guyana. I'd suggest they can't afford not to.

I wonder if Peru strikes Tullow will even bother to put out an RNS.

Because the current board aren't interested i. Guyana. Anyone say 'global oilhotspot', cos Tullow BOD aren't bovvered.

Feels that way, though more likely it is because Dorothy already saud No to any more drilling this year while she's in charge.

Sooner they get a proper CEO the better. This risk auditor approach might work well running a finance department but it's no way to run a company.

What the hell is Tullow doing not RNS the CPR? Seriously just sack the IR team, what are they even for if they don't put out positive news?

Very much hoping to hear good results of the CPR Tullow and ECO commissioned for Jethro.

https://oilprice.com/Energy/Energy-General/Oil-Bankruptcies-Are-Reaching-Worrying-Levels.html

China is to pump a net 150 billion yuan ($22bn; £16.3bn) into its economy on Monday to help protect it from the impact of the coronavirus outbreak.

Global production down by over 800k bpd but market doesn't care cos were all doomed I tell you, all doomed!!!!

Hawkeye, much of what you have purported as 'fact' is actually BS, including the hilarious mention of the Times citation which was actually the title of a forum post on this very board ripped off purely for the purpose of rounding out yet another negative retrospective about a company down on its luck. The drop has beem highly unusual, as will the move back up.

Chevron Corporation (NYSE: CVX) posted a fourth-quarter loss of $6.6 billion versus earnings of $3.7 billion for the same period of 2018, on the back of massive write-offs of $10.4 billion predominantly in its U.S. shale gas assets.

Disappointing to see what looked like the start of a promising uptrend end up flat over the week thanks to the "demand destruction" *******s.

Agreed I think 140-150 is the sensible starting point worth considering, otherwise the BOD is better off focussing on getting back on track.

It seems likely that US shale production will level off, then turn negative sometime between now and September. It ought to give a lift to prices providing demand holds up.