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It can take three months to decide on the right CEO

That's why it's going nowhere soon.

I also believe that sharp drops in US production later this year and going forward from then will give Tullow more flexibility in driving its recovery.

70K won't happen if they sort out the gas re-injection problem.

We know rationally that the intraday movements have almost no bearing on where this will be in 12 months and yet , the constant drift down is still highly demoralizing, especially at this extremely low price range. I cannot help feeling that there is a lot more the company could be doing to set this onto a recovery path but its seems like they are just paralyzed.

It's almost back to where it was before all this kicked off. Whether it really is over or not is another matter. I reckon it's more than likely not over by a long shot, particularly with regard to Iraq.

have made clear they want the US out of Iraq and Syria. This won't be the end of it no matter what Trump thinks.

Who'dathoughit.

Wouldn't be surprised if they do another drill there this year, pretty close to carapa-1, in addition to a cretaceous drill in Orinduik.

And there is a major out there very keen to get back into Guyana.

Since when does the chair have a fiduciary duty to the staff?

A merger is also entirely possible.

What are the chances that Tullow might tie up with Africa Oil Corp? A lot of synergy there and they have over 300mil cash pile. Who knows what the new CEO will decide on as the best strategy - by far the most likely scenario is that TLW remains independent and focuses on recovery.

I agree but the practical realities make that difficult. They definitely won't be rushing the decision and I expect they will have had a lot of interest. This kind of role is like gold dust for big company execs who perhaps could head up a big player but fancy a crack at running an independent instead where they can really make a difference without being so tied down by the the decisions of CEOs in years gone by.

Funny you say that, he has the Africa experience, however I strongly suspect they are looking for a former huge operator executive.

Highly likely to be a well known face in E&P sector and I am really hoping it is someone whose record alone is enough to put this on an uptrend. Their choice of CEO will be one of the most critical decisions taken this year. A nobody from the banking sector would be a big disappointment.

Would expect the appointment to be announced over the next three weeks, ahead of the review, more likely in Feb. I guess any incoming CEO worth their salt would want to know about the key findings of the review before signing up.

Kenya heavily incentivized to make progress this year they already started spending the money they expected to get from the oil revenues and further delay is only going to increase risks.

Or more accurately the partners and Kenya created a JV pipeline company that will build and operate the pipeline. Tullow aims farm down some of it's stake to partners Total+CNOOC, but I think it wants to sign FID first, due later this year.

Could it be that shorters are out of ammo? Pattern of sells gone.

I'd rather they just be sensible and farm down while retaining non operated exposure. This is the successful model that made them a good company until McGade took his eye off the ball.