Member Info for smoggy2210

Just trying to remind myself and others why we have actually invested in here that’s all.
Sorry if I’ve offended

Lake Albert background

Once up and running it is envisaged that Lake Albert could produce some 230,000 barrels of oil per day as rates plateau.

Development of an initial 1.2bn barrel project was greenlighted by the Ugandan authorities in 2016 and the project partners are on the cusp of taking the FID.

Tullow farmed down its original 100% stake in Lake Albert to Total and CNOOC via a 2011 deal worth US$2.9bn including partner spending commitments.

Additionally, back in 2017, Total sold a 21.57% stake in the project to Total in a US$900mln deal before CNOOC took up its pre-emption rights over 50% of that transaction.

It left Tullow with 33% of the project, which it was actively marketing.

This was just a link of google seeing what recent news I can find

Tullow Oil PLC (LON:TLW) has struck a cash deal to sell its entire Uganda business to Total for US$575mln, which is close to 150% of the London-listed firm’s market value.

It is a significant boon to Tullow’s liquidity with Total set to pay US$500mln of cash on completion, and, remainder coming at Final Investment Decision (FID) for the Lake Albert field development project.

The deal is the first transaction in a portfolio management programme that aims to extract over US$1bn, Tullow said.

Ireland-based explorer Tullow Oil has yet again become the subject of takeover speculation. Shares in Tullow have tanked almost 75pc since the crisis began. It has a debt pile of around £2.1bn. The plunge has seen potential suitors begin to circle again, industry sources say.

Funny old share this, we’re going to end up in the blue somehow today

Still giving me a quote for 296k shares so looks like they are wanting to buy them still

The stabilised price for the last month, the world coming back out of lockdown even if its slowly, the demand for oil again. Don’t forget the world uses 100million barrels of oil per day just to keep everything going pre covid19. So I’m assuming we will slowly rise with oil being in demand again for sure?
Imo of course though.

Surely we are ready for a breakout from the current price... held around this for over a month now. So frustrating as I’ve literally shot everything in here now I’ve got just shy of 300k shares. Waiting for a rise to pull some back out to trade with elsewhere. Surely only a matter of time before we go north

Asian buyers are snapping up distressed cargoes of oil from Africa to the Middle East in another sign that demand is coming back in the world’s biggest crude-importing region.
Indian, Chinese and South Korean refiners have been purchasing the so-called distressed shipments, or crude that’s set to load in around a month or less, according to traders and refinery executives. Some of the oil was already being stored at sea near Singapore, while other cargoes were purchased just days before they were scheduled to load in June, they said.

Just had my final little top up of £6150 taking my total holdings to just over 200k shares.
We’re due a rise from this price now... that’s me done for the day. Hard work trading.
Enjoy all

Struggling to break 44

Anyone else having problems buying? Going to nt even just 5k worth

Expecting a strong finish in here testing the earlier highs

Straight through

I’d be more worried if we just went up 50% without a retrace....
need to pull back a little to push on again, get rid of the small time traders 10/15% takers

Wg - Another rally coming for the last couple hours trading with the yanks mate...
You just sit back and enjoy the ride wirh the mrs will you ;-)

Now the yanks are up and trading we’ll test the 50 again

Won’t let me purchase 5k worth

Wait until the yanks wake up to the news :-)... another steady rise this afternoon