Member Info for Supercooper

I think the Kenya outcome cannot be dressed up as anything other than disappointing after 13 years struggling to get any momentum and the cost of drilling. However, with two drills to come in 2025 and the rig back in action in Jan/Feb 2026, the upcoming campaign based on new 4D seismic should bring 2026 guidance back above 60k (at least) with a sizable debt reduction and increased 2P reserves. That's not including additional gas potential as alluded to by Richard. So things are not so dark provided we have somebody at the helm that knows what they are doing.

Yes London, why can't we all just get along? Because its social media and multiple agendas being followed.

Off you go then

Deleted in mid sentence - that's a first

Whose crying into their cornflakes?

Doesn't really matter how much merit they have - the bankers/financiers will price it in (any excuse).

Note 7 in the March Results - there are more than 2 disputes but the overall figure is approx. $600mln

2 outstanding tax disputes totalling $600 mln says they are risky with declining production and looking to refinance 50% more than Seplat.

I see Seplat refinanced $650 mln senior notes at a coupon of 9.125%. Obviously a much less risky prospect than Tlw.

So Xx, just to be clear, the 47k excludes gas and excludes Gabon. By adding gas (just to compare how Tlw reports production) we get to 53k excluding Gabon. That compares to 61k achieved in 2024. Something wrong somewhere as originally the 50-55k guidance included Gabon which when excluded would give 40-45k. We seem to have 3 or 4 versions of the truth!

Tullows guidance 50-55 including Gabon? So 40-45k.?

JMAX, I said at the time that his mates from Cairn were playing him like a fiddle in order to get a better deal from other interested parties. Given his so called M & A experience he should of excelled. Any way it's all history now.

It got to the point where I didn't believe anything he was saying - he was the king of spin and as I have said numerous times he always surprised to the downside. Whilst he's gone now and we need to look to the future, we're still stuck with a board of directors that allowed him to get away with it. Where was the challenge? Cote D'Ivoire is another case where it was hyped up and yet nobody interested in farming into such a prized acreage. Nearly 5 months and still no replacement for Dhir?. The BoD's is a joke as well as RD.

Ok Apologies,

It was a little misleading

Now now JMAX,

If you're going to quote at least quote accurately. "Unsolicited offers of CREDIT" in the context of replacing the RCF if necessary - just good risk management, that's all.

Based on a 30% backing in rights being taken up, the annual capex for Tlw would be about $280mln over 4 years. Not sure how they could generate that kind of FCF but its not inconceivable in a few years.

Debt due date? May 2026

Xx, the bondholders are irrelevant at the moment unless Tlw are negotiating an extension. Tlw has stated that it is executing a refinancing based on proposals received from banks. The refinancing has been planned for 18months or more and I would imagine the sale of Gabon has been discussed many months ago. This refinancing hasn't just started now but I take your point that it is squeaky bum time in any event.

I think he had 21 mln shares before he became a director which probably averaged north of 60 -80p and purchases since then wouldn't make a huge dent in that range imho.

I think he had 21 mln shares before he became a director which probably averaged north of 60 -80p and purchases since then wouldn't make a huge dent in that range imho.