Member Info for Supercooper

What might help is if the BoD got their finger out and appointed a CEO. Lets hope our CFO is not being set up to take the CEO job. The last thing Tlw needs is another bean counter at the helm. We need a CEO with O&G technical/operational credentials at this juncture.

If you're long. Threat of global recession, trade wars and OP heading further south is all getting priced in. Don't be a mug punter and sell at or near the bottom.

Warwick, you only have to be right once, me 'ol mucker

There is only one solution for Tlw and that is to sell its stake in Kenya (or at least the vast majority of it). Any retention of a significant % would mean increasing debt to pay for large upfront costs. Any potential revenue is 4-5 years away. That just does not fit the profile Tlw needs right now and therefore is non-core. Unlike some on here, I believe Tlw's stake is quite valuable and Tlw could use the cash to reduce debt and invest in inorganic growth.

You really need to get that seen to

Companies

JMAX, call it that or just refinancing - its done everyday by other countries.

Look, the 2025's were paid off without any dramas and in accordance with the last update - that's something to celebrate irrespective

'Fraid not Stanley, debt is always quoted as "net debt" = gross debt - cash

Tlw doesn't have any money to spend on Kenya full stop, apart from incurring security costs. The only alternative is to sell it with perhaps retaining a small minority stake. The reason nobody has been interested is because the Kenyans have been looking for a large piece of the 50% stake Tlw were gifted by Total/AOI and that is the reason the FDP has never been approved imho.

500,000 sold @15.92 - they obviously don't agree with you

Well if 2025 is going to be as exciting as he thinks, he might hold off? :)

Taken from the trading statement:-

"2025 is set to be an exciting year for Tullow as we lay the foundations for capital returns and pan-African growth"

With two wells to drill (one producer), lower production/FCF and $1.3bln to refinance, "exciting" wouldn't be the word I would have chosen. Maybe Rahul will have the time to get out a bit more because he clearly needs to.

If any of their updates are anything to go by, they have been exploring options for refinancing for the last two years. If a gun was being put to their head to sell assets at this late stage, then they face the same problems as we have already said - what assets could meaningfully contribute to lowering debt? Perhaps we're over-thinking it. No buyers because of the uncertainty, a good few sellers who are scared of the declining SP (triggering a self fulfilling prophecy)

Maybe hoping to announce a new CEO before hand, so pushing the results out as far as possible. Agree there's no good news in the pipeline

The board knew as soon as they fired Rahul, there would be uncertainty and nothing to support the SP. At that stage they knew production figures to November and just the prospect of two wells being drilled in the whole of 2025. Who could be surprised nobody is willing to take a risk with Tlw. They better have a very cunning plan...........................

On a positive note, with the current rate of SP decline at 1p a day, we've only 16 more days to go until even the algos can't bring it down any more :)

I think the board has been pretty clear about their intentions regarding the 25 and 26 bonds. From the Janaury trading statement:-

"Management plans to repay the 2025 Notes at maturity with a combination of cash in hand and drawings from the Glencore facility, and to refinance and simplify the Group's capital structure during the remainder of 2025."

So the 26 bonds will be refinanced in 2025?

SP decline seems relentless. Given the uncertainty for the last 3 months, nobody is interested in buying Tlw. The big boys won't speculate. They'll just wait until there's news because they'll hear it first and get in first.

Agreed, but year on year it might be a higher interest rate but on a lowering debt level.