Tullow Oil - TLW Stream Log

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11:40 17/12/2019

Share to Facebook Share to Twitter Share to Email App Share to LinkedIn African oil executive Samuel Dossou-Aworet has built up a stake of just over 7 per cent in Tullow Oil, taking advantage of as slump in the oil exploration group’s stock in the past five weeks. Mr Dossou-Aworet co-founded a pan-African exploration company called Energy Africa in 1994, which was acquired by Tullow Oil 15 years ago for $500 million (€448 million). The deal doubled the size of Tullow at the time, giving it assets from Ghana to Namibia along the west coast of Africa.

10:09 10/12/2019

@Beatley - agreed. A takeover would be welcome at this stage to try and recover some value more quickly ... wouldn't have much confidence in the remaining exec. An outfit like Total should have the coin and operate in most places Tullow do already... what price for a takeout?

13:09 09/12/2019

Seems a tad overdone in fairness, given they are still producing 70k+ barrels p.a. Think the debt is killing them ...they must be a takeover target at this stage - going to throw a few hundred quid at it to average down my 220p purchase price and hope someone comes in with even a lowball offer ... 125p anyone?

09:24 09/12/2019

F**king hell?!!

11:45 01/06/2018

*Value of oil*...Dear brummell, I find your postings on this board usually very knowledgeable and helpful with respect to the various factors affecting TLW and the oil market in general. Thanks for the link about the coming sulfur restriction also. I am wondering though about this whole business of the sulfur content, the grades of oil and what producers will stand to benefit or otherwise. According to Wikipedia (granted, it is not infallible) …“Shale oil serves best for producing middle-distillates such as kerosene, jet fuel, and diesel fuel. Worldwide demand for these middle distillates, particularly for diesel fuels, increased rapidly in the 1990s and 2000s. However, appropriate refining processes equivalent to hydrocracking can transform shale oil into a lighter-range hydrocarbon (gasoline).”… This seems to contradict what you are saying about the US production(?) Is there a contradiction here or am I misinformed and or misunderstanding? Great to hear any opinions on this…

10:01 18/05/2018

Fair value: does anyone on here have a view as to current fair value for TLW? Trying to decide whether to lock in some profits at this stage. Any views appreciated...

20:23 11/05/2018

Nay-sayers and short-termists thin on the ground now... TLW is looking stronger by the day...cheers to rational analysis, patience and a bit of help from OPEC

18:04 27/04/2018

Short interest in TLW now down to 3% - the bears have surely moved on from TLW now - suggests there is genuine support for the price around here?

01:31 17/03/2018

$800 m worth of bonds contracted - $150 m more than target. That has to be a massive vote of confidence in TLW - SP has to re-rate from here surely??

20:15 22/01/2018

London, 22 January 2018 -- Moody's Investors Service, ("Moody's") has today upgraded Tullow Oil plc ("Tullow")'s Corporate Family Rating (CFR) to B1 from B2 and probability of default rating (PDR) to B1-PD from B2-PD. Concurrently, the ratings on its USD650 million 2020 and USD650 million 2022 senior unsecured global notes were upgraded to B3 from Caa1. The outlook on all Tullow's ratings was changed to stable from positive. RATINGS RATIONALE The upgrade of the rating to B1 from B2 mainly reflects all the positive developments in 2017 which strengthened the financial profile of the company. Moody's expects adjusted gross debt/EBITDA to fall to around 3.2x in 2017 after peaking at 5.5x in 2016, mainly due to higher production from TEN and higher oil prices. The deleveraging was also a result of the successful rights issue raising net proceeds of $721 million in March 2017 which allowed the company to reduce debt. The company's liquidity profile was also strengthened after the successful refinancing of the Reserve Based Lending (RBL) facility in November 2017 with a three year grace period until October 2020. The B1 rating reflects the stronger financial and liquidity profile which should provide the company with greater operational flexibility to grow the business and consider the acceleration of investment in projects and selective growth opportunities. The upgrade of the rating to B1 reflects (a) its solid business profile with sizeable oil and gas resource base (b) its growing low cost production offshore Ghana, with TEN fields ramping-up in 2017-18 (c) successful exploration programme and strong execution track-record, with significant oil discoveries in Uganda and Kenya, that underpin the company's long-term production growth trajectory, and (d) proactive steps taken by the company to manage its liquidity position in 2017 and a prudent hedging programme which covers approximately 60% of its oil sales each year. However, Tullow's rating demonstrates a linkage to the sovereign rating of Ghana (B3, stable) given its sizable country exposure expected to account for around 69% of production in 2017 and therefore a further upgrade of the B1 rating is unlikely.