Member Info for Romeike

I am sorry to say that I hope the investor relations team at Tullow are axed. I fail to see what value thet are adding, particularly when positive movements in the SP appear dependent on information and optimism from partners that Tullow IR team seem incapable of communicating.

They ought to be able to use this to identify high probability locations to drill in Kanuku and Orinduik later in the year.

Tullow draws very low sulphur crude from Jubilee. If refiners have higher demand for this type of crude for blending 'clean' maritime fuels, will Tullow earn a premium on its Ghana production?

Release not under Tullow's control, requires all partners approval.

A full recovery is going to take some time, positive newsflow and effective management to restore trust. In the meantime we need Tullow to get its share price over 100 to eliminate any threat of hostile takeover.

No worries, I am just trying to understand Tullow's rationale for its actions. I can see motives for what they've done and why the politiking might have been called for but how does that fot with the board changes. I am wondering if Dorothy has essentially acted on advise/behalf of Tullow Ghana after months of CEO ignoring them. The unusual multi year production forecast seems to have stirred various actions over there. Perhaps the implicit impact on government revenues acted as a wake up call. I haven't worked out all the pieces.

https://www.myjoyonline.com/business/2019/december-21st/ghana-loses-720m-due-to-uncompleted-gas-projects-alex-mould.php

Thanks for reposting that. I was quite disappointed no one seemed interested, I thought some of the Minister's comments were very interesting indeed.

Wow - interview is very significant - the Minister also says that he thinks the issue is not as dramatic as Tullow is projecting and lays out a stack of reason why.

We know that a chap from Total has now also hinted at an announcement.

There is an interview on the page and in it the chap says he thinks Tullow has gone too early to the market re: reduced production because they are actively discussing solutions now. Further, reducing gas imports from Nigeria by two thirds is a big deal as it represents a significant proportion of the surplus.

"they are hopeful most of the problems may be addressed by the end of this year." <- this is what caught my interest. The implication of resolutions could be significant for 2021/2022, especially if their 70K production commitments were made on assumption of no change on the gas issue.

The committee put together by the Energy Ministry comprises of all the oil and gas producers operating in the country’s oil fields.

Dr Amin said the committee would look at building consensus around the issues in terms of how to deal with the challenge.

He noted that looking at the progress that has been made so far, they are hopeful most of the problems may be addressed by the end of this year.

I think the website is down at the moment

Govt sets up committee to address Tullow - https://www.myjoyonline.com/business/2019/December-20th/govt-sets-up-committee-to-address-tullows-gas-supply-challenges.php

Tullow is just one of the partners. All the partners will RNS and do interviews.

If it was a duster why would they still be operating the well? Every day of operation costs money.

Mr. Awotwi, said the company’s troubles were partly due to its inability to export gas, which had to be re-injected back into the reservoir; thereby not only increasing the cost of producing oil, but also limiting the volume of oil produced, due to the presence of so much gas.

“We are hoping that now that the Karpowership has moved to Takoradi and the conversion to gas is complete, we will be able to export more gas. Been able to sustain these levels will very much help us to reduce the amount of gas going into the basin and also improve oil production over time,” he said.

good news

https://thebftonline.com/2019/business/companies/tullow-bets-turnaround-on-relocated-karpowership/