Member Info for Romeike

The obvious market for Jethro would be US refineries that are set up to process relatively high sulphur, heavy crude. US energy independence is a myth given that they lack any where near the levels of heavy crude then need domestically.

It is the same pattern as PMO today but the movements are out sized and delayed.

Debt in Tullow is talked about as if Tullow is the only company ever to be running debt on its balance sheet, when almost all companies run debt. Oilers more than most, because they had their pants pulled down in 2014 and are still recovering. But oilers like Tullow are the survivors who took the right steps to ride out the crisis and their revenues clearly show their recovery into profit. The fact is that short term debt will be converted into longer term debt, balancing out the annual payments that better fit the expected income of the company. Debt repayment should remain on track, though in part from dropping the dividend that shareholders didn't particularly want in the first place. Another McGade balls up.

Tullow has an excellent Treasury team and a strong relationship with their banking partners. I am very confident that they will address the 650 mil 2022 maturity this year, well in advance.

He doesn't even know what FCF is.

Obviously I want to see this move to 70p+ and set the ground for a solid uptrend tomorrow based on the reality of Tullow having substantial free cash flow and remains, for the moment, much the same business as it was at 200p+, despite the fixable production issues in Ghana clouding future prospects. Issue we hope to hear some positive progress on tomorrow.

But with the games we have seen over recent weeks, and with limited time to make real progress on production issues, I would not be at all surprised to see this hammered down to 54p tomorrow, even if only briefly.

Surely the drop today is, in part, Blackrock et al. re-selling their borrowed shares, gambling on a drop tomorrow? The more it drops the more aggressive they will be stepping up selling to sow fear and take out tight stop losses. You can bet ammo will be held back for tomorrow to try a cause a slide on anything less than a outright positive update.

The UK, France and Germany have triggered a dispute mechanism in the 2015 nuclear agreement with Iran

:S

-: sigh :-

I suspect Jethro will get developed at some point but not over the next few years and certainly not with Tullow holding 60%.

We just need the numbers to be good first and foremost.

Wednesday needs to be all about solutions and getting back on track, not regurgitation of the issues and repetition of low ball forecasts that will never happen. At least with McGade having his head in the sand they probably under-spent on capex.

Did you speak with Nicola or Matthew? I noticed they are making more effort to man the phones.

Quite right, remember the huge gap from 80p to approx. 140p - just need some positive news out of Tullow showing that they are still a solid operation. I hope brent stays in the 60-70 range, the closer to 70 the better. Too low is bad for revenues, but too high bad for the economy/ future oil demand and gives succor to US shale which is otherwise in big trouble.

Maverick - it's calledthe fracklog. Rig counts aren't as meaningful with fracking but it's worth checking increasing rate of decline of DUCs (Drilled but uncompleted).

Shale drillers need to repay 40 billion usd this year, the job losses already started.

Makes no sense to pay off debt too fast when oil prices are likely to rise and interest rates are likely to stay the same or even be cut.

Also - election year for him

I don't know, can't sniff at a 7%+ increase

Hopefully another bit of a rise into the close