RE: Profit taking4 Mar 2026 20:51
Break away gaps on major events do not always get back filled in the near future. We do not know how Asian markets will move tonight.
The reality is what happens to the oil price. The fact is at $81 a barrel it would not be unexpected for Tullow to hold 12p and trade up to 13p to 14p as we have seen. The availability of a few million dollars, supports more company drilling and gives credit to the outcome objectives aspired by this Tullow management team. Tullow moves away from hopeless to having a fighting chance of having the resources to deliver say a future source of another 150M barrels of oil. It has to said imop, the outputs from the new CEO and his team have been heroic in recent months. I gave the company no chance a few months back, but they have really turned things around and are making a fight of it.
The conflict in Iran is 5 days old. Some sources have written how this all compares with the German assault on Russia in World War 2 and how it will end up in a similar mess. A lot of USA sources expect this to be wrapped up in 3 to 4 weeks. There is a chance we are not hearing BS and propaganda and who knows Iran caves in and proves they got it right in USA and Israel. On the other hand this can go badly wrong and we have really high gas and oil prices and a world full of stagflation and the only companies holding out well are probably those producing oil. That is the gamble and it is has a far reaching impact on all equities not just Tullow Oil. In fact everything looks like a gamble at present. It is the brave who take a punt and sometimes they win and more often perhaps lose. However, they are brave for trying and only brilliant when it comes off. All the best on what has turned out to be a more difficult day for shareholders in Tullow. Tony
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