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to use their share of selling Kenya blocks to buy all of our Uganda asset or they just buy all of Tullow for $800M odd less then they planned. Company is now very ripe for a bid in that case.

Also added to bring average into high 60's. If it retreats I will pile in more. The loss on 2c etc is just 540M on reserves. If they got $800M net it makes a huge difference.

Just what I wanted to here. Hopefully that will all go ahead for 2020 and as already mentioned all debt issues up 2023 are being covered.

We now have a rising support line on the daily chart going back to 9 December close. Its a slow climb up from here.

A lot was baked into the price. I suspect Polymetal now follows the gold price more tightly than before. It has done extremely well with 50% rise from last May. It could pay down debt in 4 years if not to heavy on dividends. The rise from May was fully justified. It is however vulnerable for any down turn in the gold price because it has done so well.

Unfortunately not the gas pipeline to the fields.

https://www.livemint.com/politics/policy/india-to-help-energy-rich-ghana-expand-clean-fuel-network-11579748976014.html

Also Kenya weather looks dry for February.
https://www.the-star.co.ke/counties/central/2020-01-06-nyandarua-to-prioritise-road-repairs-in-supplementary-budget/

https://www.newvision.co.ug/new_vision/news/1513828/uganda-eyes-oil-barrel

The close keeps me on hold as I await what they do next and allowing for stronger pound today its a double bottom.
Saw the film 1917 a war my great grandfather was in. The filming was great as a continuous shot. It reminded me again how lucky are generation have been. Kind of puts a few things in perspective if anybody is getting wound up at all by this Tullow stock. Remember the cheaper this goes the more likely you may get an RNS that the whole shooting match is in a bid situation. Dorothy and all the analysts know what it should sell for. A case of sensible bids only.

I would not read much into the news. Tullow has to make some decisions before March. For all we know, Total may have offered Tullow a lot of money for the whole project.

https://www.bnnbloomberg.ca/uganda-says-refinery-investor-group-nearing-final-decision-1.1377674

Double bottomed and where from here?

We shall see if it changes in the afternoon. We either have someone playing on the short or a fund reducing their stake and taking a hit. Its a jungle out there.

EV/2P+2C = $2.7 per barrel. On reserves and resource basis.
EV/2P + (2Cx 10%) = $10.71 per barrel.
Takeovers on the first criteria can be $3.6-$6 a barrel depending on state of field.

Flowing barrels at $35,000 x75,000= $2.62B so other assets only valued at $1.13B.

The company beautification process for a takeover is still on-going. There comes a point when a bid divided by free cash flow generated has a positive rate of return. The buyer then has resources to sell off what they do not want to generate higher return rates and they have plenty of discovered resources.

https://www.investorideas.com/news/2020/mining/01214Gold.asp

We could get a deeper consolidation in February allowing some topping up possibly.

Downbutnotout

WTI is not what Tullow produce which is Brent grade. If WTI goes down the shale production gets hit. The price then goes back up two weeks or so later.

I am hoping my Big Bertha Buy is not necessary and today is the higher low from 49.8p close. Hoping tomorrow brings a modest rally.

Longish the answer to your question is 4th March. There are a number of FTSE 250 companies in trouble below Tullow. I doubt if it will be an issue on that occasion.

Around 125-126p area this is looking toppy on day chart. It would be a higher low.