Member Info for Supercooper

Hold judgement until the "Sell on news" brigade fizzle out

DB, are you accusing senior management in Tlw of withholding price sensitive information: Surely not.............

If Rahul had made the inept approach to a company that Andrew Englis made to Tullow , then walking away after 5 days of the announcement with Kos SP tanking, this board would still be going on about it. Absolute farce. Remember Capricorn approached Tlw, not the other way around - admittedly they played Rahul like a fiddle.

JMAX,

No harm in speculating on the SP up or down - but that's all it is:)

Erh you can JMAX - may I remind you of "60p by Easter" :). Or maybe, just maybe you're winding some people up! But your short lived self titled King of the predictions will well and truly be gone forever.

Or down!

That's a difficult one. If you were pushed its likely the company wouldn't want you bleeding all over staff for months until a replacement was found. Equally, if you were stepping down because of a decision going against Tlw, would you agree to stay on for months after the decision is announced, and face having to do the January update. Just don't know...

Bullseye,

IR are not at fault here - nothing of any substance goes out from the company unless approved by Tlw management. Communications reflect the CEO's style (unless RNS is required) - IR are merely administrative function. The CEO is about to be replaced though :)

Not a cent has been accrued against these potential liabilities so in effect that is the company's auditor's opinion fwiw. These claims coincide with initial discussions that were taking place between Ghana and IMF. These assessments were not confined to Tlw as the Ghana Gov scrambled to produce any income they could, to get credibility with the IMF. Having said that, it's not decided until it's decided.

Somebody should tell the LSE its still trading

So when Tlw default on the bonds, the trolls are saying the only solution is a D4E swap (dilution). Tlw management have been working on refinancing of the bonds for the last 12 months and there is still 18 months until the 2026 bonds mature. Yet the CFO bought shares and a non-exec director bought shares in 2024 when it would have been apparent Tlw were in financial trouble.

Quote from August update :-

"Tullow remains focused on deleveraging and reaching net debt of less than $1 billion and cash gearing of less than 1x in the near term." Just 4 months ago!

I don't know how this is going to pan out but there is an orchestrated attempt to present Armageddon - ignore.

Beat me to it B14 :)

A lot of chatter now about defaulting on the bonds (probably as a result of the current price drop on both 2025 & 2026).

I believe the prices have dropped for three reasons:-

1. Sudden departure of CEO (does he know something and is getting out)

2. Tax arbitration decision

3. Kosmos fiasco

Uncertainty generated by these three things was only having one affect on bond prices. Some are saying the word is out that Tlw will default. Rubbish.

Having said that, we don't know the reason for Rahul's departure but it could be he was pushed, but normally a CEO would not be asked to hang around. The tax decision could go either way but Tlw has remained confident all along.

The Kosmos crap I just don't understand. I could tell them enough about Tlw's financial position before they opened talks. My guess is that a few significant shareholders let it be known they would not agree to a all share offer and that was game over. I'm guessing that if Tlw managed to reduce debt to 50mln, there would still be some mentioning "debt pile".

Must be a big sell order in the background

What a guy

Is that all you're programmed to say?

Rebalancing, closing out contracts, rolling over contracts leading to increased volatility/volumes in many stocks.

Today - possibly some mad volumes later, towards close.

DB, it doesn't really matter to most on this Tlw board. Kos has done enough damage with an ill conceived, opportunistic approach.

Kosmos knew all there was to know about Tlw and they were still looking to explore a merger. The only reason they backed away was because of the SP tanking and they panicked. That in itself is reason to be positive.

Lets hope Rahul doesn't come back from the dead