Member Info for xxnjr

Exactly agree with JMAX on that.

T would make far more sense to drill another oil well in N'tomme before even contemplating a gas well in Tweneboa. The value is in oil. Makes sense to prioritise that.

Foresight22

Your observations on CAPEX don't compute "2 wells cost $166m" as they are doing 5 wells for $200m in 2026.

So how much were the fees for the refinancing?

$60m

Yikes!

Was just going to mention UAE. Kind of signals (despite what UAE are saying about acting responsibly) that there may be an oil price war at some point. Unless IRAN has anything to say on the matter (with a few ballistic missiles).

Wasn't the bet (or guess) just about Platts Dated Brent?

If you take the Jubilee $12, or whatever premium Jubilee to brent is out of the equation our numbers look better!

TDDW - IIRC my guess was $102 (rather than $112) and yours was $108.

TMan75

"I mean 61% is much higher than tullows stake in Jubilee and ten"

It's a good question.......would suggest it's because GNPC pre-empted the sale of the ex-Anadarko assets to Kosmos Energy. GNPC gained an extra 7% of TEN in that transaction. TLW (54.84%) + 7% = 61.84%.

Now oil revenues as in cargos for that 7% are being paid into an account in the Cayman Island and not as PIAC have constantly complained about /raised the issue into the correct GNPC bank account. There cargos (for the 7%) were for "Jubilee Oil Holdings" but now seem to be for "GNPC Expln & Prod'n"

So the money for the 7% is going to the wrong account (who knows why!) and it seems that the lease costs arising from the 7% part stake are not being paid by GNPC. Would be my guess.

TMAN,

I would suggest it's because GNPC pre-empted the sale of the ex-Anadarko assets to Kosmos Energy. GNPC gained an extra 7% of TEN in that transaction. TLW (54.84%) + 7% = 61.84%.

Now oil revenues as in cargos for that 7% are being paid into an account in the Cayman Island and not as PIAC have constantly complained about /raised the issue into the correct GNPC bank account. There cargos (for the 7%) were for "Jubilee Oil Holdings" but now seem to be for "GNPC Expln & Prod'n"

So the money for the 7% is going to the wrong account (who knows why!) and it seems that the lease costs arising from the 7% part stake are not being paid by GNPC. Would be my guess.

Ok got it!

The small tranche for trading increased by a factor of 4X and overcame a 92% loss on the main tranche?

JMAX "What's the 52 week high ?"

err about 8% of your original buying price?

Oops i meant possibly do 3 ten cargos.

Tonyb33 - The other piece of good news (if I heard it correctly) is that (presumably) FCF guidance is based on

10 Jubilee Cargos and 2.5 TEN cargos

but as per the webcast there is a chance they possibly could do 11J & 2T cargos if things went smoothly.

I asked TLW IR a Q on w/inj a while back

Q) basically is a greater percentage of water now being delivered to the central main field reinforcing efforts to reverse localised GOR.

A) "Improved water injection performance allows us to be less selective of location if we consistently achieving higher injection levels. Furthermore, when we bring on the water injector planned later this year in the middle of the updip part of the main field it is expected to provide direct support to a number of main area producers."

That answer deftly skipped the GOR bit but sounds like the water injector at the end of this drilling campaign is targeting some of the new drilled wells to hopefully partially mitigate decline over the fallow no wells period before the next well campaign starts I'm guessing mid-way through 2027. From May 2027 they save $130m TEN FPSO annualised lease cost (although will need to cough up c.$125m to buy the lease.) But it points to an improving outlook.

The main takeaway today maybe is at $70 OP TLW generate $70 of free cash flow (without needing to sell off over $300m of assets!).

So on the drilling J75-P. I thought it had ove run as (i) rig didn't move and (ii) no material production up lift from cargo timings.

Don't get me wrong production is doing ok - still sort of 70K, or just above. Top end of guidance.

So I think whats happened is they've drilled 2 wells from the same location as they mention logs on the next well looking favourable. Meaning drilling is not behind schedule. If anything it maybe ahead.

JMAX - Your "really's?" are really insignificant nonentities so far today :)

But your pricing call was pretty good :)

I'm using 892,707 bblls per cargo net of Petro SA.

Https://www.tullowoil.com/application/files/8717/7736/1605/Tullow_-_2025_Full_Year_Results_-_Presentation.pdf

This is the news we are all waiting for

• Average realised price (pre-hedge) of c.$90/bbl on first four cargoes of

2026, above expectations

• Upside from West African crude currently trading at a premium to Brent

• April cargo realised highest ever price for a Tullow cargo at c.$130/bbl