Member Info for Romeike

The recovery will take many months, but it will recover. All the positive news coming up that could have taken this to 300p should now get it back to its prior trading range but after recent events long term holders will just be glad to see the company back on track.

I think it may be significant that they keep using the word commitment in the conference call. They actually declined to forecast production beyond 2020 and instead say:
"All we will commit to is that the group production will be in the order of 70,000 barrels a year beyond 2020" - they appear be to be setting low ball expectations to emphasize that the priority is ensuring they will definitely produce the 70k/year. Beyond that Mark MacFarlane says elsewhere that he will be looking to present opportunities to the board (for capex) to increase/accelerate production.

sry typo

The Carapa prospect is a 200-million-barrel Cretaceous target located in 70 meters of water.

The fact is it will have gone to back up immediately, so the lost production is likely negligible. It's just more drip, drip of negativity from stab them while they are down media. The financial press in this country is pure trash.

Fpso power issue was only reported because of the other goings on otherwise not even newsworthy.

It is just good to see stuff start to get sorted.

It potentially increases group production numbers

If that release from Dorothy wasn't a kitchen sink already I don't know what is.

The problem appears to be the pay or take contract Ghana signed with ENI. Not sure how Total can do any more in that regard.

_>>>Indeed what the fek is that about ‘no we don’t want free gas’ nuts

They signed a pay or take agreement with ENI which they are trying to renegotiate by saying they will take less gas now but extend the duration of the agreement.

Ghana moved its powership, a gas-powered, floating power station basically, to a new location right next to their gas plant. This is because they want power station to make full use of available gas for electricity production, much of that gas will be from the Jubilee TEN fields. So far as I can tell it arrived there August and only recently began electricity production. It is important because it is part of the solution to the gas off take issue causing problems for Tullow in Ghana

https://www.myjoyonline.com/business/2019/November-21st/470mw-powership-osman-khan-commences-power-production-on-natural-gas.php

Ghana could resolve the production issue by allowing the operators to flare excess gas for 6 months . Unbelievable that Ghanaians are paying through the nose for ENI gas when Tullow and partners providing for free.

You say bumpy but there is plenty of potential for upside with Tullow, some of it in the near term. I was hoping to see Tullow finally break 300p early next year, but now I simply hope those same developments will get TLW back to 200p. I am fully prepared for it to take a couple of years if necessary, by which point oil ought to be trading quite a bit higher than currently.

It cannot hurt. I have done this across all my holdings.

They could not get it easily for 100p. The company would need to accept the offer and I cannot see that happening at just 100p.

I don't think Mr Dossou-Aworet cares about Carapa-1, I think he cares about the Africa oil and gas industry.

I doubt that is his intent, he has an existing relationship with Tullow by the look of it, it may simply be that he saw an opportunity for good return.

Once consolidation around 60 ends then yes, hopefully it should rerate towards sensible territory

I think the value here is if he can help sort out Ghana and/or Uganda. This can't be a bad thing surely?