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Re: Kenya deal value, while a figure of approx 3bn USD has been mentioned it is not clear how much of Tullow's stake this buys. India will want to lead with the largest stake so will buy at leat 30%, leaving Tullow with 20% or less. But at 3Bn with the buyer both huge state-backed refiners, and therefore guaranteed buyers of potentially all the barrels produced, this could be a very good deal beyond the immediate financial gain. I expect Tullow will retain a 10-20% stake, as keeping their expertise and local knowledge will be desirable for the partners. Some of the other partners may also farm down, providing India an overal 50%+ stake. It is possible Dhir will sell the entire stake, but I think if this happens it will be because he has his eye on an aquisition elsewhere. Increasingly impressed with this CEO, he's made a number of very shrewd moves and Capricon's enthusiasm for a deal arguably weighted to Tullow is making more sense in light of the Kenya developments.
In the context of the 50bn offer from Unilever - very dissapointing, no actually annoying - to see the world's largest independent consumer healthcare firm list on list at a palty market cap of just 31bn. Even accounting for Haleon taking on the extra debt from GSK this makes the decicision to reject the bid a bad move for investors.
I can't be the only one wanting to know if this loss is covered under operational risk insurance. I certainly beleive they would be making a claim. They had security in place etc. so the fault for the loss is not woth Goldstone and the loss adjustor can be used to support the claim.
Not quite true, the recent statement clearly states that Homase is operating normally, which I take to mean at the very least the level guided earlier, which means debt is being paid and revenue is there.
No matter what this company achieves against the odds there are armchair commentators with no interest at stake who like to throw in their unwanted wisdom. It is clear from social media that there were events going on the the area at the time, which may be related, or it could simply be administrative. There's simply no point speculating. Shareholders have been given reason to be reassured that core operations continue and the matter will become clear when the full facts are presented.
Spooked into selling would be difficult to achieve while the shares are suspended. As other posters indicate, the first line cites an operational matter, the second line rules on an issue at Homease. Logically speaking it suggests they had some kind of issue or indicident at Akrokeri.
So it does mention an operations matter in the first line:
"GoldStone ... notes the suspension ... following an operational matter.
The Company confirms that operations at the Homase Mine are continuing as usual and will provide a further update in due course. "
Would suspect theft, a security incident, safety breach or other?
THey wouldn't require a suspension for that would they.
Suspect perhaps theft, security incident or an accident on site?
"2 years later and the company is predicting as low as 56k production."
The post citing the above conflates many factors. Dhir's plan has focussed on improvements in Jubilee - that have paid of rather well from the figures in the update. Improvements for TEN are happening 2022, 2023 focusssing on Ntombe. The current problem in Enyenra is well understood and factored in. The figures provided include falls in production due to sold assets but not increased production from the aquisition of a greated share of Ghana production. Dhal seems to have a strong record of growing production at low cost and that is exactly what Tullow needs. Recovery from the profligate McDade years was never going to happen overnight. I am pleased with progress to date.
Such a clueless post. Listing alone achieves a higher value without taxes and M&A banker fees so at 50bn this low ball bid doesn't make sense. Actually it is quite a way short, they would have need to offer around 62bn.
A major silver lining out of this whole fiscao for me is I got the Tullow strategy I always hoped for with a CEO who is focussed on getting the best out of the prize Ghana fileds and optimising efficiencies there. McDade and Co infuriated me with the way they used the Ghana assets as a cash cow to fund their glitzy tour of exploration opportunites and role play as a "major explorer" funding highly speculative exploration when all the time far better opportunites lie in the assets Tullow already operates.
Tullow is a premium FTSE listed entity. It isn't the first company to hit a temporary bump in the road thanks to mismanagement at the top and it won't be the last. Fortunately at its core Tullow is strong and the Jubliee fields remain a world class oil field. The recovery is tangible now and long term holders who hle, or backed up the truck on the way down, will do very well as theis uptrend in the commodity cycle plays out.