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Rédevs. Thank you for being so altruistic and sharing your sage like advice. Let’s get one thing straight , things aren’t perfect. However debt of £150m covered by £135 cash to hand with a further £37m from sales of building solutions under CMA review. When top line revenue is circa £2bn! And you have cash to hand equal to debt it’s easy to turnaround. Name on other company Turing over £2bn with no debt ? Exactly. There are two sides to every argument.

Little debt with £37m disposal of building solutions decision under review by CMA. £40m profit Expected based on guidance in 2019 results with £135m cash to hand. The only way is surely up. I can’t see this weakness lasting much longer as the seller clears. One to hold for the rerate into mid 30s for starters. GLA

On 7 October 2019, SIG plc ("SIG"), a leading supplier of specialist building materials to trade customers across Europe, announced the disposal of Building Solutions (National) Limited ("Building Solutions") to Kingspan Group, a global leader in building envelope solutions based in Ireland (the "Disposal") for a consideration of £37.5m on a cash free, debt free basis. The Disposal was conditional upon the approval of the UK Competition & Markets Authority ("CMA").

SIG notes that the CMA has today announced that it has referred the Disposal for a Phase 2 investigation. Further announcements will be made in due course as appropriate.

That’s incorrect TQ. The disposal of that division is under review as per the RNS last Friday. Please don’t post misinformation on this BB

Be nice to get an actual formal Update!

Savannah has been a very dependable source of gas supply in Nigeria during the COVID-19 crisis. We have stepped up production to help ensure a reliable supply of gas is available for power generation during the country’s lockdown. #SAVP #COVID19 #EmployeeWelfare

Because they actually produce oil

If that’s the case you can be open and inform shareholders who I believe are seasoned enough to understand and also concede that when you invest in Africa delayed payment is always a possibility. Add in the current coronavirus battle in Nigeria and most would understand. GENL and GKP manage to handle comms with regards to payment delays and don’t hide material info. The IR team at SAVP need to grow up as does the BOD communication strategy.

Great synopsis LC. I still wonder if they had kept to plan and delivered the Niger drill campaign and resource numbers from the successful drill how we would have performed. To some extent we have all LTH have been robbed By the switch play over to the strategic accugas play. I’ve no idea how this will play out but based on annual salary AK is underperforming and a lightweight at anything other than raising money.

Agreed NtoM. I am not a naive investor and accept investment decisions are my own. However we have all been through an extremely lengthy suspension period and waited an age for the complex Seven deal to close. Surely management should understand this and believe the current COVID pandemic and macro environment warrants an update of the asset acquired and that PAYMENTS are being RECEIVED, with the additional context of whether guarantees are being Invoked. Perhaps AK prefers to update ii’s but is not bothered with the average PI. It’s shocking.

I’ve also been averaging down. I think the long term outlook could be very positive. However management need to communicate with shareholders.

2 trades yesterday and 4 today? I think the sooner SAVP can shed some light on receivables the better. Won’t hold my breath

Zengas. Surely the big doubt is over whether payments are being received promptly and this is impacting current SP. Would you not agree that with this being the case a company update is warranted? Or once shareholders purchase stock is the presumption we are life long holders. AK is aware of the drag caused by the uncertainty with with the onset of COVID across Africa would be very easy to remove. Company treats shareholders with disdain ! There is no excuse

Totally agree with snaffleman. We are in the midst of a global pandemic and the virus has reached Nigeria. The lack of update despite the tweeting with regards to increased offtake is baffling. I used to feel AK was a credible CEO but increasingly find myself doubting his aptitude and credentials to do anything but raise money with institutions. The company appear to treat all PIs with disdain and given Mcap vs projected FCF an update of payments is the very least we should expect. I suspect it’s not positive news!!!

I wonder what an asset sale will do to the naysayers. Tullow was set to transfer 21.57% of its 33.33% interests Uganda to Total for a total consideration of $900 million. Perhaps Tullow will sell the entirety for $1bn in today’s market rather than the $1.35 read across from the old farm down vauluation. Or wishful thinking on my part!

Amazing result with a ready domestic market for the gas this is so undervalued its untrue. Really glad they got the placing away prior to the coronavirus panic and oil market collapse. That should sit as an example is all those bemoaning dilution at the time. 183.2m shares in issues following the placing looks good with hindsight eh? This will run up for sure in coming months.

After selling up to ride the perceived NMC wave back up. I hope no skeletons like this in the TLW closet.

NMC Health’s debts are more than double the level previously thought after advisers discovered an additional $2.7bn (£2.1bn) of borrowing that the company’s bosses said they were not told about.

Asset sale this year?

Zhao Shunqiang, the president of CNOOC Uganda Limited, the lead operator of the Kingfisher project, called the development "a great milestone".

He received the certificate from NEMA executive director Tom Okurut at the NEMA head office in Kampala.

“This is a great milestone for CNOOC Uganda Limited and the development of the oil and gas project in Uganda. It is a step closer to a final investment decision and realization of [Uganda's] first oil,” said Shunqiang.

This is an unprecedented and unforeseen time with a global pandemic and oil war in play as demand sinks. All LTH need to walk away from watching their screens for 3 months. News on turret arrival and install and production stabilising at 92300 BOPD on jubilee is a start. Oil under $50 works to nobody and the hedging somewhat protects TLW in the short term. We need corona containment news to show positive signs, and demand worries to subside but I expect this will not improve until late spring. Coupled with a new CEO, asset sale and any positive strike in Guyana this could hit £1 within 12 months very easily. Definitely not impossible and it seems to me a bigger risk that vultures will circle and take Tullow out for 60-70p.

Nice try Ammu. But the 150m FCF accounted for the 2020 capex. Also worth noting that Dorothy’s kitchen sinking of 2020 Group production forecasts were between 70,000 and 80,000 bopd. I think Tullow will perform to th higher end of those production forecasts and most likely outperform. The board have absolutely kitchen sinked this to allow a new CEO to enter with positive market updates. As always there is risk but your overly bearish IMO

If Coronavirus is contained to some degree then I expect market sentiment to turn in late spring and £1 is defineitly not off th cards within 12 months. IMO all it takes is a new ceo and asset sale and we are good to go based on remedial work and production stabilising in Ghana.