Member Info for Tornadotony

https://www.bankofengland.co.uk/about/people/dorothy-thompson/biography
Got CBE knows a lot about economics. Hopefully getting Tullow to follow the yellow brick road.

Not trading my low CEY entry. I look forward to the dividends.

To Mrd

https://www.chartguys.com/technical-analysis/1/gold Learn something from these guys about using charts and trading.
Tony

Why reduce the production levels from all fields.

The non Ghana field was only reduced back to its past mean by 2000 barrels per day. The good news was they found more oil on those 3 blocks. The Jubilee field is caught up by 3 problems. The first was gas off take and involves ENI getting priority from its field (recent decision). The second was a delay in a pipeline being built by the Ghanaian Government and hopefully can e sorted. The final problem is dealing with upside issues that need some cash investment that will be dealt with as stated in 9/12 RNS. The TEN field has more gas issues and complications in two wells in one of its fields and needs more wells in nittome TEN field. These issues became known by an independent report.

If that happened I would double up and take 40% off near the 677 mark and rinse and repeat. I suspect the low is today or tomorrow and it goes back up next week.

If you then say have a company like Total giving a net payment of $1.25B after tax for all licences outside of existing production the cost per barrel in production fields becomes $6.80 and resources of 100mboe are discounted off ( 1500/220).

30 June 2p reserves 265 mboe. Multiply by half= 132.5mboe. 2C at 10%= 88mboe. Resource of oil at 10%= 100mboe

Debt $2.9B - $200m cash + 1040M current share value= $3740.

$3740/320= $11.69 a barrel of oil.

The company is run by a lot of people. The CEO relies on everyone else to succeed. They need a production field expert as CEO, they will know the answers for TEN.

The fire sale prices I gave before were at $4 a barrel on 2p reserves. If anything like normal takeover cost was paid for the minimum for Jubilee and TEN alone would be $4.4B allowing 30% off all of TEN. I still ask myself what do I not know for this share to be at this low price?

Should also add we were told the oil reserves were unchanged except for what was produced in 2019.

That is all of Guyana at zero value, $800M loss of income, Two production oil fields on fire sale and discovered oil valued in just cents per barrel.

We will find out what has been discussed with GNPC and if they have improved gas off take arrangements. If they have it will allow the Jubillee field to operate better and avoid a decline originally suggested. I still feel the entire company may well get bought out and hence why the price is getting pushed down.

The review may still be on but we will have an idea what has progressed since 9 December.

Reason 2019 and we are 2020.

Thanks for the update regarding dates. Ignore LSE dates above.

I stand corrected on the role to staff. The Chairwoman in this case only deals with Board members and Directors. Thanks for making me look it up.

My reasons are that cherry picking things out will displease numerous government entities that are affected. Its far more time consuming to oversee and do. It continues to disrupts planning for on-going assets that are being kept. It explains why no CEO is not in the wings to be appointed. The chairwoman may prefer a takeover consolidation with a bigger company as best option for all staff.

Company reports 23 January. After several reports giving poor performance we could see a very positive report. The key is the silver price being over $18. If it gets to $19 plus it is big news here. At least 100p on the share price.

Hopefully they will not mess it up and give us satisfactory news on Q4 after so many revisions. They should say if they are drilling in Guyana and Peru as I suspect existing contracts might apply.

At least 17%. Any worries about Capex or mine building costs go to room 101. Just hold these and be patient. Fresnillo is 1/6 of my portfolio and I am just going to sit on them. Better here than in the bank earning less than 1%.