Member Info for Tman75

All depending on Total costs , costprice per barrel, op, and nr of barrels per day .roughly 1 -2 year in todays prices.

Ps.not sure about costprice per barrel

These (red) days are the days you are making your profits. Even when it doesn’t show immediately.

Good luck lth

LSE2000 another one for the green army.

Still adding at these prices

Indeed PGee. Good to see some forum members are finaly showing their true colors though

I agree with you ante n that this is most likely to be the outcome. Made the point however, or tried, that we don’t know for sure.

And Lets agree that is a Great achievement for tullow. What was the plan for the last five years and with 30 % realy well done. No reimbursement of 1.1 bln spent but no costs from now onwards too. Great.

Haha Jmax saw a quick reply and was curious and bored (boring meeting) and outlogged only then to see it was you. With an actual proper question so i answered

Jmax that we dont know. We need more details. Could also be, hypothetically, that tlw is also to be reimbursed first for 1,1 bln, and only then the 30% rule Will start.

Also do they even need to pay for costs (30) or can the decide to join and be back in at any point? Do they only have to pay from that decision onwards or also pay (30%) of costs made since Selling. That doesn’t allign with ‘ backin right for zero cost’.

If they only have to pay onwards from their decision to be back in, tlw Will wait until one day before first oil. Also not realistic from perspective of Gulf to accept those terms.

You tell me Jmax; Or better , RM tell me.

Ps. Superdeal I expect even with above questions.

Beatles dragon Thanks for sharing that

Xxjr so in short its Whats been said Here before: tlw has a plan and they’re executing it: lowering Debt and securing future income (backin rights)

Today’s spike Maybe due to Some leak about the refinancing?

Sofar Bugsy saw it correct by topping up yesterday.

Xxjr its not inconvenient at all. For the next 15!years you can be both.

Agree Marcel. Excellent deal!

Feels there is plan with the refinancing and Gabon and Kenya are big parts in that. So unfolding nicely.

Other part is Jubilee production. Felt a lot of confidence there during the update. The Well drillen last year can not Just cause lower production. Doesn’t add up. A fix feels imminent. Could very Well be wishfull thinking but we Will see next few months.

Oil going back up too, Debt down. Cote d’ivoire seems promising too with the two tlw fields next to best producing field baleine .

Enjoy the long and sunny weekend all.

We might have the best there is already. Honesty, frankness and actionability (Gabon, Kenya in short time)

As that doesnt makensense because tlw would wait as long as possible then

Yes xxjr we dont know enough about the deal. Could be that Gulf spent 4 bln on getting it up and running. Then when tlw exercises their backin right they pay 25-30% of that but since they already spent 1.1 bln up to now they only pay 100 mln or nothing.

Or add the 1.1 to gulfs 4 and tlw pays 25% of 5.1 bln minus the 1.1 they already spent.

Again, not enough info.

Hi jbond, completely agree. Did not say be positive or less negative but mentioned to be complete. Anyway, Thanks for your insights, positive or otherwise.

On topic , deal might not be as flashy as we hopen for but still much better the longer you think about it. 10 mln yearly saved on keeping Kenya alive, 80 mln Debt reduction, saves another 10 mln a year (also true for Gabon sale). Further more there might be improved tax situations but no expert there.

Then there is the 30% backin rights.

Jbond, your forgetting the biggest part however: 30% backin rights which consist of 40k boopd.

Of course need more details on that but since selling your bonds you seem to be negative but Let’s be complete .

Hi xxjr, that s exactly what i kwant with my question? If tlw is allowed backin but have nothing to pay, then why mention it like they have right now. Then tlw Just sold 70% to a partner.

If tlw is allowed backin but have to pay development cost from the moment they exercise their rights to be back in, then best to wait until the very last.

If tlw is allowed backin but have to pay development cost from The start of the build even they oor in later, then still what is the gain of selling all first instead of Just 70%?

Again, I am positive on this deal. We wanted a partner to sell some of the stalen and not sell all of the stake. Even though we sell 100% it seems effectively we only sold 70% and have a partner now.

Still missing Some details but very positive.

Ps. Saw your comment on Uganda and the yearly payments of 17 mln or something. That is with current op I think. Made Some calculations a few years back and that could be multiplied by 5 or more with higher op (80-90).

The idea was always to find a partner. Thats done now. 30%! Is still almost doubling current production. So yeah, still waiting for the market reactie n tbh.