Member Info for Supercooper

As you say, you don't know enough about Tullow.

Tman, the advantage is that the news is too late to get covered by the Finance section of the weekend broadsheets - if they were waiting for good news (like refinancing) why not wait until the following week (the same week as last year). I'm afraid Tlw has, for the last 5 years, released news of one disaster after another. It looks like our new CEO is keeping that tradition going. Personally, I'm sick of the continued incompetence of the management team and the board.

I need to evaluate my shareholding before the update......

Marcelkrell, you've alot to answer for :)

A Friday, so it misses the weekend papers. Let's hope that doesn't indicate more bad news.

Whist Tlw does not officially endorse Capitals numbers/conclusions, they would certainly have had input and tacitly approved the document seeing as they paid for it. It's a marketing document but its worth noting the following :-

1. Forecast interest payments don't rise (Tlw knows the re-financing options available at this stage) probably based on the lower level of debt x higher interest rate. Cash raise? Think not.

2. Ten Lease payments are shown as $195mln pa which will be eliminated in 2027.

3. Assumption on production levels very conservative though OP is anyone's guess.

Conclusion, there is some optimism to be had with a fair wind - it's just Tlw are so accident prone, take it with a pinch of salt.

There are alot of moving parts to the refinancing challenge, not least of which is any possible resolution to the Tax dispute that has been taken out of arbitration temporarily. This could be pivotal in getting the best deal available. Hopefully good news will come from this soon.

Apologies, my mistake.

It's a nil cost OPTION to buy at 10.68p even if the present price is 20p

My understanding of the nil cost option is that for it to be of any value, the SP would have to be north of 10.68p. So if the SP went to 20p he would pocket the difference between 10.68 and 20p.

Obviously a charm offensive ahead of parliamentary approval of the extension - good to see business as usual priot to refinancing (hopefully)

Yes. probably a higher interest rate but possibly the same annual interest charge (lower debt level)

None of the D4E brigade have been able to illustrate the number of shares that would have to be issued in order to have any meaningful impact on the debt level despite my many requests. Niether can they suggest what level of debt would be appropriate (probably because they don't have a clue). Whilst I have concerns about what a "holistic" restructuring might look like, as recently as 2 months ago RM said Tlw were hopeful of refinancing before year end, and guided net debt 31/12/25 at $1.1bln. Now it wouldn't be the first time that things change rapidly in a matter of months but as it stands, it would imply no intention of an equity raise.

So what you're saying is the SP could go up or down............interesting

JMAX, at some point every investor reaches a holding in a share that they don't go beyond, particulalry in terms of balancing a portfolio. RG bought 2mln shares a couple of months ago and has mystified most of us on this board.

Bought a small amount this morning @8.5 (30k shares) but I have enough exposure to what is a very high risk investment.

Whiel you're all arguing over what royalties might be due, there is the possibility of $150-200mln pa to be saved in a successful renegotiation of the TEN fpso lease.

If I was short Tlw and things were as dire as some people would have us believe, I'd be staying put, or increasing my position. Instead, nearly all shorters have cashed in with one remaining at .73% (down from 1.5% Jan 2025) and we have a director continuing to buy shares.

But we do have one tulip on here who has a solution to Tlw's problems - issue 150 BILLION shares in a D4E.

Having said all that, this is still high octane risk level.

Do the numbers for us Hamilton. S1.1 bln debt converted to.......?????

Wouldn't be surprised if we had a new chairman before end of year. He's got to be the most ineffective and inconspicuous chairman ever. One of his quotes says it all "Rahul, you will always be a friend of Tullow" - wow!

Taken from their strategy:-

"Our thesis rests on three observations:

Digital Sovereignty Imperative: EU and UK policymakers increasingly demand indigenous IP

and sovereign control over critical technologies (defence-industry-space.ec.europa.eu).

Agility Premium: Smaller, productcentric firms capture emerging budgets, evidenced by

the rapid rise of venturebacked defence tech in the US and EU.

Agility Premium: Smaller, productcentric firms capture emerging budgets, evidenced by

the rapid rise of venturebacked defence tech in the US and EU."

In an otherwise impressive document, sloppy in my opinion...