Member Info for Slift

Hi All,
Been following this board from time to time.
I also hold some shares from around 5p, which was more of a gamble in hope for a big diamond find.

Following the Moody's credit rating downgrade on 16th, what is the future of Petra in terms of the debt following this shutdown? Would like to hear everyone's opinions.
Also, does Petra have an insurance which will protect it's revenue from this forced shutdown?

lol i'm easy either way.
Drop or rise.

Big risk = Big reward :)

nhawan,

2$ drop in POO affects Tullow's revenue by $18m.

I'm still waiting for the drop back, ETA?

As predicted/slightly better.

15.022M.

Idk how hungry RD is, but i'm hungry for some KFC.
End this lockdown.

Jan/Feb
Realised Oil Prices: $62/barrel

March --> December: realised oil prices
Brent at 22$ --> $43/barrel
Brent at 30$ --> $46.2/barrel
Brent at 35$ --> $48.2/barrel

Revenues:
Brent at $22 Average --> $1263m
Brent at $30 Average --> $1336m
Brent at $35 Average --> $1382m

ALL ASSUMING 75K BARRELS/DAY PRODUCTION.

DYOR.

Think it's more a combination of Trumps' threats and oil rising.
But that's my opinion.

You back in at 18+?

Step 1: https://oilprice.com/Energy/Oil-Prices/Goldman-Dont-Expect-US-Oil-Prices-To-Recover-Soon.html
Step 2: Buy up cheap oilies
Step 3: ???

I'm not the one ramping or deramping :)

Just everything said on here is utter crap.

https://www.tullowoil.com/investors/events/

Pretty sure that says AGM Trading Update to me :)

nhawan,
Still waiting for this drop, ETA?

Trading Update

POSITIVES for SP If:
- Confirmation on progress in Kenya (Can FID still be completed end of 2020?)
- Progress in farm-down and also FID in Uganda
- Abandoned CAPEX projects (for cost savings) are expected by the market

NEGATIVES if:
- Opposite of all above.

DYOR.

TruthCaller,

Serious question, are you an idiot?

It's a Q2 TRADING UPDATE, not just an AGM.

It's very risky to invest in a company when you haven't done any research.

Tomorrow is an official Q2 trading update. (as well as AGM).

The trading update will clarify the progress on each of Tullow's operations/projects.

Will also provide more clarification on where Tullow has managed to cut costs.

ALL IN MY OPINION.

This CEO doesn't need a long time to get familiar with Tullow's operations. Especially since block 12A in Kenya was transferred from Tullow to Delonex in 2018.

It's clear that they've brought him in with his expertise in delivering pipeline projects for Cairn India at less than $5/barrel and his knowledge around Kenya.

Doesn't make sense?
- Tullow has ongoing projects that are at FID stage in Kenya
- Tullow has an "East Africa Crude Oil Pipeline" project in Uganda again at FID stage following negotiations with the Government of Uganda

Exciting Times!

All above in my opinion and DO YOUR OWN RESEARCH :)

Personally, I don't think that it will take long to empty ULCCs.

Let's not kid ourselves, a lot of oil wells are going to be shut in, and a lot of companies in this industry (mainly shale) are going to go bankrupt.

Starting up closed wells isn't something that can be done overnight. The normal process would be: analysis on profitability and future projections --> get board approval --> get capital approval --> Plan and schedule etcetc, would take longer than a month IMHO!

When demand does pick up, we can expect 160 million barrels in ULCCs to be emptied in 1-2 weeks due to supply < demand from shut wells/bankrupt companies.

What do people think?

Following update on 03/04/20 and CAPEX reductions of $50 and decommissioning expenditure reductions of $35m:

- Chances are that the abandonment of Chinguetti fields in Mauritania has probably been postponed.
- Ntomme production well not drilled (deferral of well activities and early termination of Maersk Venture rig).
- Postponement of reliability improvements of water injection system @ jubilee (deferral of activities/removal of non-critical work)
- Chances are progress has been made with farm down activities in Uganda and elsewhere (savings realised by ongoing farmdown activities)

62$/barrel is the realised oil price for Jan and Feb.

Tullow has 60% hedged for 2020 at $57/barrel.

General:
- COVID19
- Production in line with Expectations?
- Costs in line?
- Further Cost cuts
- Progress on $1bill portfolio management
- Possibly more info on new CEO and results from AGM

Ghana:
- Progress on reliability improvements on the water injection system @ Jubilee
- Re-evaluation of Enyenra development plan (Ntomme production well drilled?) @ TEN
- Progress on the installation of the CALM buoy (Turret Remediation Project)

Gabon (non-operated portfolio)
- Progress on additional wells being brought onstream to improve/increase production at Simba fields.

Mauritania
- Progress/Updates on the abandonment of Chinguetti fields (or has this been postponed?)

Kenya
- Progress on EPC contract awards for Project Oil Kenya.
- Progress/Update on land acquisition for upstream development from Gov of Kenya.
- Update on target/schedule for FID in Kenya

Uganda
- Progress/Update on farm-down agreement with Joint Venture Partners and Gov of Uganda
- Progress on Tilenga and Kingfisher Projects
- Negotiations with Gov of Uganda for the East African Crude Oil Pipeline Project and progress on the schedule for FID

Comoros
- Progress on interpretation of 3D seismic survey at Rovuma delta

Guyana
- Progress/Update on high grading of Cretaceous portfolio for high quality oil in Orinduik and Kanuku

Argentina
- Progress/Schedule on 3D seismic survey activities

Jamaica
- Renewal of the Walton-Morant exploration license

Feel free to add if i've missed something.

DO YOUR OWN RESEARCH :)