LSE Soiree Butler Tullow Oil TLW.L

Tullow OilTullow Oil plc (Tullow) is an United Kingdom -based company engaged in oil and gas exploration, development and production and the sale of hydrocarbons and related activities. It operates in three geographical segments: Europe, South America and Asia; West and North Africa and South and East Africa. The Company has interests in over 100 production and exploration licences in 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

Tullow Oil is trading above the moving 50 day average and above the moving 200 day average on below-average volume.
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  • Re: Not good..... by Cashman103
    Wed, 30 Jul 2014 08:21:00 GMT

    Reduced dividend in real terms, no sign of share buy backs. Looks like more on the down side. Could see below £7 soon. By Cashman103
  • Not good..... by MisterX1
    Wed, 30 Jul 2014 07:41:00 GMT

    "Strong revenues and cashflow; well funded and diverse balance sheet"

    so says one of the headlines - but behind the pr spin [gone wrong] its actually LOWER revenues and profits than for similar 2013BUT .they are well placed for 2015 [of course they are??]

    "Due to market expectations" - despite our more deluded punters wishing for something that they can never have...

    Expect the sp to continue to drift down .


    PS - whilst on the subject of finance, note that the interest on the o/s CGT in UG now totals c.$2.4m ....and increasing by the day

    By MisterX1
  • Re: It's Interesting to Note That... by Edvardo
    Tue, 29 Jul 2014 15:13:00 GMT

    Here is a link to the Reuters article :


    If the sala gas project goes ahead in two months I guess Africa Oil will need some cash for the development - I guess they may farm out a portion at that point maybe ?
    Wonder if Tullow have pre-emption rights ?

    The Kenyan development plans are scheduled to be submitted to the GoK end 2015 so it is likely to be well into 2016 before development starts; by that time TENs should be due to come on stream (mid 2016 is the plan according to Tullow).

    The income from TENs would therefore be available just as the Kenyan development costs start to increase.

    Uganda development is likely to follow after Kenya, presumably the income from Kenya funding that.

    So why would Tullow need to increase debt levels ? maybe some of the TENs income will be used to reduce debt.

    By Edvardo
  • Tullow Going Back to French Guiana? by carliol
    Tue, 29 Jul 2014 14:51:00 GMT

    Hello Brummell,

    Re your post of 14.31. Good find. Lots of speculation about Tullow's operations in Kenya.

    However, I found the most interesting part of the report is the final paragraph which refers to French Guiana and the disastrous Shell led four well exploration and appraisal campaign last year when not a drop of oil was found.

    This expedition was a follow up to the Zaedyus discovery offshore French Guiana in Sept 2011 when Tullow as operator found 72 metres of net oil pay in three high quality reservoir intervals.

    I don't see how such a large discovery can simply disappear. If i recall correctly, Tullow's sp went vertical and increased by about 100p in one day when the success of Zaedyus was announced.

    Tullow will be back in South America in Q1 2015 with two wells offshore Suriname. I wonder if Tullow will use this opportunity to have another appraisal on Zaedyus?

    Carliol By carliol
  • Re: It's Interesting to Note That... by brummell
    Tue, 29 Jul 2014 13:31:00 GMT

    I don't know if its the same root source, but DJN has a story " NAIROBI--Kenya's oil exploration and production sector needs more than $16 billion of investments over the next three years according to a report by pan-African bank, Ecobank, released last week.". No reported quotes from the companies though.

    "U.K.-listed Tullow Oil (TLW.LN) and its partner Australia's Africa Oil Corp. (AOIFF) are expected to submit a field development plan by 2015, following their first oil discovery two years ago in Turkana county, northern Kenya. The two oil companies estimate that their blocks possess between 600 million and 1 billion barrels of oil and could produce between 100,000 and 120,000 barrels of crude oil a day starting in 2017, if the government approves their field development plan by fourth-quarter 2015, the report said.

    Other firms such as U.S. Independent Anadarko Petroleum Corporation, Canadian explorer Rift Energy and U.K. Independent Tower Resources are among several other oil companies also looking to acquire new seismic data and drill exploration wells in Kenya.

    "Inability to source necessary funding is however likely to result in oil companies having to relinquish some portion of their oil blocks due to inability to meet seismic and drilling commitments," the report said.

    "More importantly, it could delay the start-up of oil production by another one, or two years."

    Tullow Oil risks being over-extended on borrowings if it takes on additional debt to develop its Kenya oilfields. However, it is likely to attract valuations as high as $452 million for a planned farm-out of a 10%-15 % stake in its Lokichar basin blocks.

    Kenya is likely to pass a revised petroleum law in October 2014 that is expected to provide the framework for oil revenue management and could increase the government's take from oil operations and enforce more local content initiatives.

    The report said that communities in the oil discovery areas have intensified their demands for involvement in the industry, which could result in community development levies being included in the new bill.

    Rising insecurity is also a major concern in Kenya for oil investors. "Recent attacks by Al-Shabaab could dampen investor interest," the report said, and offshore exploration could also be affected by an existing maritime border dispute between Kenya and Somalia.

    "These dynamics make the next 18 months critical in the development of the Kenyan upstream sector," the report said. Kenya is likely to play a key role in the emerging East Africa oil and gas industry with a new export terminal at Lamu and a crude oil pipeline enabling oil exports to Asia, it added."

    Perhaps a farm-out in Kenya would allow TLW to get its teeth back into FG. further confirmation to overcome the Shell "failure" there could liven things up a bit. By brummell
  • Gone in for first buy by tornadotony
    Tue, 29 Jul 2014 12:18:00 GMT

    At 765.33p If Shell and BP get Russian headaches this is a useful one to have a play on.

    Tony By tornadotony
  • Re: It's Interesting to Note That... by Guesstimate
    Tue, 29 Jul 2014 10:12:00 GMT

    That's a reposting (under a new author's name - shock horror) of the original Reuters article, with a few factual errors thrown in. Trouble with these web-crawler news services, they're usually re-hashing second hand info with little or no responsibility to be factually accurate:

    It's AOI that KH said might farm-in, not TLW.

    AOI clearly aren't going to spend $1.6bn over two years on exploration. That's the sum for the joint partnership, and even then it's unclear whether the number is correct. It looks like it's an oversimplified stab at the partnership spending about $800m this year and a "similar amount" next year. If AOI are going to raise another $400m in equity, I'd certainly like to know about it, especially at these low share prices. By Guesstimate
  • Re: It's Interesting to Note That... by brummell
    Tue, 29 Jul 2014 08:39:00 GMT

    Perhaps the reserve report will be out tomorrow?

    Sounds like the likelihood of a farm out is a bit more than a rumour:

    link By brummell
  • Re: It's Interesting to Note That... by Guesstimate
    Mon, 28 Jul 2014 21:36:00 GMT

    I don't even own any TLW, Mr Snout. You're wasting your breath. Do continue.

    Rumours in Kenyan press over the weekend that AOI might opt for farm-in on its share of the Lokichar sooner rather than later. No confirmation of that though. It was always an option - following the TLW model of cashing in some equity in the hits in order to fund further exploration. Bit premature to farm-in with the current reserve report though. Where's the new one? It was due to be published "in July"? By Guesstimate
  • Re: It's Interesting to Note That... by MisterX1
    Mon, 28 Jul 2014 13:54:00 GMT

    "Time is running out X1/SS, no wonder you are getting desperate."
    Time has already run out for you bmr/gstmate..and before long YOU will run of time and be dead and ashed out before any beneficiaries of those "wise" investments in tlw get anywhere close to what you paid for them....

    Ohhhhwon't the inheritors of your shares be cursed on that day....

    ROFLMAO By MisterX1
  • Re: It's Interesting to Note That... by brummell
    Mon, 28 Jul 2014 08:47:00 GMT

    Obvious isn't it! You really are scraping the barrel now X1/SS. TLW have already answered that for themselves. They are not just a producer, they are in E&P. It's a question of balance, Why give away oil on the cheap when you can get it to production and realise the true value so that the P pays for the E. The big boys don't like that though because they want to buy their oil at $5 a barrel, do the final work and keep the lion's share for themselves to finance their inefficiencies. The speculators don't like it because they can't milk share issues any more, hence lots of enemies and attacks in the market.

    TLW don't need to hang on to all of TEN, just recoup their investment there, retain enough for some cash flow and and move on. Good business plan that is coming together. Time is running out X1/SS, no wonder you are getting desperate. By brummell
  • Re: It's Interesting to Note That... by SilverSnout
    Mon, 28 Jul 2014 03:28:00 GMT

    Edcase said "Coz day keeps de good uns to demself bro".

    So why oilie TLW desperate to sell down TEN? Coz it ain't a good un dat why. An coz it soakin up all dem lending lines they got. Lets hear you tell it loud edcase - TEN ain't a good un. ROFLMAO at edcase and it's puff pumpin posts. By SilverSnout
  • Real information,facts,intelligent insight. by shingokingo
    Sun, 27 Jul 2014 16:53:00 GMT

    I visit this site for the above reasons,the lack of the above is the reason I do not.
    I would probably be better off reading the 'BEANO'
    I am sorry I do not have any friend in the business,
    I can tell you what I do know,
    I have made a lot of money from my investment in tullow.
    I bought very low and sold high
    The question is,when will the shares hit rock bottom(ish)
    This is the reason I am here
    Any insight,information or facts would be appreciated,
    The rest are not.
    By shingokingo
  • Re: Tullow Starting to Look....... by MisterX1
    Sun, 27 Jul 2014 13:48:00 GMT

    Oh my dear gstmate....STILL confusing me with Silversnout I see.who is dyslexic now

    I know you and / or bmr are incredibly annoyed for MisterX1 for - having got this right [amongst many other things] :

    SP Feb 12 1611
    SP Jul 14 764

    With NO real prospect of ever reaching those once unsustainable highs....

    Have a nice weekend....

    By MisterX1
  • Re: Tullow Starting to Look....... by Guesstimate
    Sun, 27 Jul 2014 13:37:00 GMT

    "How ANYONE could possibly be flattered to be considered as bmr [even if its not you] is truly beyond belief - assuming u r not it, I considered you had better taste...."

    I didn't read your post beyond this first line. In four years of posting you're still using phone-text speak that was passe about ten years ago, and mnemonics that went out of fashion last century. With that, and the Tottenham rude-boy jive talk so excellently mocked by Edvardo (he doesn't like me but I ticked him up anyway) of your alter-ego, your posts are a joke Mr Snout. Learn to write, for eff's sake. Or are you actually dyslexic, in which case we'll obviously have to make allowances?

    And TLW haven't got the cash to drill in French Guiana again? What a load of tosh. They're sitting on nearly $3billion of unused revolving credit lines. What are you talking about? By Guesstimate
  • 750p Resistance by sjbrum
    Mon, 28 Jul 2014 13:32:22 GMT

    Short lived bounce this morning but still see resistance at 7.50. saw the same resistance earlier this year so it won't be easily broken...
  • Bottom in sight? by Freemoney
    Fri, 25 Jul 2014 08:37:49 GMT

    This is getting close to a 5 year low. Any good news on the horizon? Ripe for a takeover at this price
  • ? by Gurkha
    Mon, 21 Jul 2014 15:19:02 GMT

    Does anyone here actually expect this sp to improve ever or is this now a race to the bottom?
  • New Name for TLW by pelicanwest
    Mon, 21 Jul 2014 07:33:37 GMT

    Should rename this lot the Irish Status Quodown, down deeper and down..
  • tlw by Alexios
    Mon, 21 Jul 2014 06:39:07 GMT

    LUPUS dry
  • RE: large after hours trading by SilverSpoons
    Wed, 16 Jul 2014 23:11:46 GMT

    Correct me if I'm wrong but IMO deletions are backed out as negative amounts. Also, where are the reciptical transactions. These look like genuine trades to me.
  • RE: large after hours trading by crakinshot
    Wed, 16 Jul 2014 21:22:37 GMT

    ...marked deletion.
  • large after hours trading by SilverSpoons
    Wed, 16 Jul 2014 16:24:55 GMT

    at well above closing price. Someone's in a rush to buy
  • ohh dear... by dougiem36
    Wed, 16 Jul 2014 16:03:43 GMT

    new 1yr low (753p) coming tomorrow after the court ruling today ?
  • Below £8.00 by opusguy
    Fri, 11 Jul 2014 10:56:27 GMT

    This is a milestone in a bad way for Tullow. SP. Press is reporting that current political and wars in the African continent is reason for sell off. This was always going to be a major factor.
  • hi all.. by Ollieh
    Fri, 11 Jul 2014 08:13:40 GMT

    Just to say that when msmn grows up, we want be just like you :-)
  • inverted by fingersnthumbs
    Wed, 09 Jul 2014 17:22:26 GMT

    It looked to me that this was forming a beautiful inverted head and shoulders too, but with the recent drop Im not so sure now, there is a gap still open a fair bit lower, Im wondering if the market wants to head towards that gap. Sad to say it but if this rallies a few % I may look to sell it but Im hoping for all of you share holders that the inverted head and shoulders does play out and this goes >1000p
  • Looks by bonker99
    Sun, 06 Jul 2014 19:55:54 GMT

    to be forming a nice looking IH&S to target 1040-1100, gotta stay above 840 though ...
  • Good news crap rise... by Diver169
    Fri, 04 Jul 2014 18:45:41 GMT

    The Hanssen discovery is located in production licence PL537 in which Tullow has a 20% interest. OMV (Norge) are the operator with a 25% interest while Idemitsu (20%), Statoil (15%) and Petoro (20%) are also partners. Angus McCoss, Exploration Director, Tullow Oil plc commented today, “This success is an important follow-up to our Wisting Central oil discovery in September last year which opened up the Hoop area. The Hanssen discovery gives us significant insight into the potential of the Wisting cluster and further confidence that we are on track towards proving up a major new commercial oil resource. We and our partners are preparing to drill the Hassel and Bjaaland wells in the eastern part of the Wisting cluster next year.”
  • Malcy peeved off by steveho
    Thu, 03 Jul 2014 09:25:56 GMT

    Tullow Oil It will come as no surprise that I really am off Tullow’s mailing list, I had to dig around the LSE news stories for the operational update this morning. As it was it really wasn’t worth the digging, the company has $2.3bn of debt facility capacity and Kenya has a number of successful exploration, appraisal and testing wells to come. However the mixed frontier exploration has led to yet another write-off, this time $415m and a loss on disposal added $115m to that number. Situation normal by the looks of it as Tullow are promising lots but still failing to deliver, wait and see how good Kenya really does come. - See more at: