Member Info for StanleyPro

"This one is finished."

I take it you sold at 13p?

RG will get his money back without a doubt. There are enough reserves to bring the debt down to a more acceptable level and then they will borrow on good terms and invest in new fields.

I've been critical of Richard Miller before but that's a great deal. Firstly, we get something out of Kenya short term! Secondly, if there's good healthy development with pipelines, refineries etc. we leave the door open to join and further develop the field when some infrastructure is in place. 30% is plenty for such remote location.

@jetcrowts shareholders tick some boxes at an AGM whether or not to re-elect someone. The same applies here to RM and other NEDs. The shareholders elect the BoD, that should then appoint the new CEO but they're unable to come to any decision. What are you proposing, should we wait another half a year?

40p just a year ago, who would've thought that we'll see a 12p close within 12 months. I'm getting worried about the CEO situation, we can't allow the ship to drift and eventually collide with rocks. Why not make a draft and let the shareholders vote on suitable candidates?

@Persiantrader, that's the stupidest assessment of the current debt situation I've read in a while, could match Jmax's banter. :D On a more serious note, Kenya is not so easily sell-able even together with a solid FDP, let alone without, and thus, RM cannot make any decisions on Kenya! Frankly speaking we don't even know who controls 50% left behind by Total and African oil. I'm very interested to see who gets exploration licenses in other blocks in Kenya later this year. If we see any big players interested then there could be an opportunity for Tullow to cooperate with them on a refinery or pipeline. I also don't agree on selling TEN, production is stable there and after maintenance, some additional water injection wells TEN could give us some additional volume per day, again could be vital amid the current crisis.

Too many traders in this stock which has led to such a sharp drop on tariff news from China. I don't believe that EZJ will be affected by any tariffs, even indirectly. People will not stop flying to the continent, for holiday or to visit their friends and relatives, who lost their jobs in industry to at least help them move :D

I also don't see it as a direct dependence on goods. They're rocking the boat in the US, which negatively impacts global trade; many international businesses operate in US dollars and if the US economy won't be able to cope then many businesses could be in trouble. Don't know if it explains such hammering of EZJ, possibly, if money is flowing out of equity into gold. It's not only EZJ, it's painful to watch most stocks on the LSX.

We need a few more investors like RG to reduce the free float, there can't be endless supply of shares.

Bloodbath today, everything's red, mind you most stocks on LSE are already cheap as peanuts, unlike the US market.

Does anyone know if Rahul has to notify after selling his stake?

I doubt jmax ever believed in 60p, I wouldn't be surprised if he missed the boat in 2020 when the SP exceeded 60p! If you don't have anything at stake then what's the point of relentless posting, stock guesses or so-called "sell calls"? Only if you're an employee of some notorious hedge fund / shorter.

@Persiantrader, I hope the SP does not stabilise around these levels. The Gabon transaction alone will put 50% more cash in bank than the entire mcap. Jubilee will produce oil for years, TEN is stable and has low cost exploration potential if new wells are drilled. The SP is extremely depressed because the entire 1bn worth of bonds expiring next year.

At this price it would be rude not to.

"shorters are getting nervous"

Anything but that. Why would they get nervous? Shorters are in massive profit, their strategy worked and headroom is so large they are protected from any positive news because the SP has to quadruple before we get to any sensible levels that are coherent with fundamentals.

We were as high as 770 on results just a couple of days ago and now as low as 680. Why is it so highly volatile?

A small top up just over 14p for me, think last time I added at 28: so 50% off.

Sea of red today, Tullow at 14p -- March 2020 vibes!

Super, in case of Tullow they can waste cash, write something off and whatnot - the debt pile is lower on paper and that's something worth celebrating.

So $270 Glencore and $223 from cash flow. Even with higher interest on the 270, Tullow's debt pile reduced by a whopping 200 million!