Member Info for Slift

Thanks genius, along with 6k water bbls/day plus.

Hypermarlin,

It seems like his initial investment was £300kish.
He only needs £30k for an average down to 26p, not £273k.

That's the point.

Slift

Ouch Wilks.

I don't believe that HUR has any immediate threats. But i also don't think that we'll see 40p anytime soon.
Can you not average down?

I'm interested to see what peoples' averages and targets are for this stock.
Post yours in the format below on this thread!

Average Price: 5.8p
Target Price: 8.7p

Hi Longish,
The $25m was for G+A savings for next year If I remember correctly.
But they did mention a further Capex saving of $15m after Uganda sale.

Which takes known cost savings to $100m.

Part of the other $100m saving is probably from early termination of the Maersk Venturer rig. Assuming $200k/day, Maersk Venturer to the end of the year would have cost circa $37m. Let's say 50% termination fee, would only really be a saving of circa $20m for this year. Others are unknown.

I'm becoming more and more cautious regarding the Ntomme-9 well. The Maersk Venturer was expected to end in June 2020 following early termination. The fact that the Ntomme-9 well won't be online until August raises several questions and uncertainty.
- Why was it delayed?
- Was it delayed to save costs?
- Does being delayed mean more costs?
- Delayed because of mechanical issues again like 2019?

Hi mattwales,

"obviously with Tullow amortising debt in 2020 onwards they will have less overall breakeven costs for whenever debt is redeemed."
This is a reduction in liquidity (e.g. reduction in the amount of cash they can borrow from RBL). Not a repayment.

There's questions regarding the breakeven. Whether that's included in the hedge or not.
Interesting to see where and how they reduced $200m in costs. The Capex and decommissioning cost savings amount to $85m.

Slift.

This was expected due to HUR deferring drill activities till 2021.

Why would you pay $200k/day until October 2020 if you're not going to use the rig?

Sorry about your job Sammy18. I'm sure you'll find another one if you've been working in oil and gas.

Slift.

Excess gas from the well is burned off.

Some gas will be used for energy.
In developed fields (where there's a gas pipe network), gas is usually transported in pipelines and sold off.

Slift.

Likely to be next week.

I too have added here. A sizeable holding now too.

I also think we will get an operational update at the end of this week, or early next week.
Whilst there is huge risk to watercut and production, I am hoping for at least 15.5k+ production in the short term, with a production guidance for the year at circa. 15k.

I will be hugely disappointed if HUR doesn't provide a production guidance for the year.

Slift.

Yup! I'd like to see a couple farm outs of exploration assets in the next 6 months.

But Kenya can be kept until 2021 (should Tullow choose to).
I don't think that Tullow announced this $1b through portfolio management being a goal for 2020, but rather a business strategy going forwards.

Uganda still requires Government of Uganda/URA and the Minister of Energy's approval for sale.

But Tullow is looking more and more attractive as a company. That's coming from someone who's not even invested here (yet!) :)

Slift.

"Now if we can just get a deal on Kenya even if it's at a discount on the scale of Uganda then we can move on and generally head the company westward. Go west young Tullow!"

I'd be discouraged with a discounted Kenya sale.

Lol, 789k total votes, of which 388k were major shareholders and directors.

That 27.5% already voted FOR became 49% at the meeting. Where are the other 621k rights?!

Votes against: 565,765.

Is that the number of shares you've got Canarywharfy? :')

I'm interested to know where you got those numbers from.
Or how you calculated them.

This chart is useless.

Charts are only useful on a traders share.
At the moment, with spread, HUR is not a traders share.

But you do you lol.

Slift.

MaverickD,

Hedges are insurance against the price of oil. They are not insurance against production of oil.
"ummm think you should do a bit of research on what they have in place".

I always do my research and happy to be corrected.
Slift.

MaverickD,
"they have options set on 10k, so its not like zero production."
??
I don't think you understand what hedges are.

If HUR don't produce, they don't get hedge receipts.

Slift.

Keepwell,

Can't compare debt, some debt are manageable.
When debt is manageable, it's good and does no harm.

HUR's debt can be managed, but there's a much high risk.
As you say: "it's practically a whole years worth of production"
And that's the risk. Right now, production is in question. Oil price is also depressed.

If HUR really do get stabilised production, then all good news.

Slift.

BTFATH1,

You're the idiot that said Tullow had 7B debt.

You don't even know the difference between liabilities and debt lol.