Investor 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.
Take me straight down to the chat Tullow Oil is trading below the moving 50 day average and below the moving 200 day average on below-average volume.
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  • Waster of a week..... by MisterX1
    Fri, 03 Jul 2015 17:20:00 GMT

    Evening punters...

    So....despite all the "good" news [LOL] with the trading statement and so called "movement" in UG - the tlw SP still squirms...as expectedso nothing new there then ...despite all the claims that it has great potential !!

    Sadly a sinking share..for some .!!

    ROFLMAO

    Have a good weekend wise punters [and mug punters too !]





    By MisterX1
  • Re: Capital Increase Stake In Tullow To ... by brummell
    Fri, 03 Jul 2015 10:14:00 GMT

    commercia, It looks as though there is strong support at around the upper 330's at the moment., despite the fact that the order book shenanigans continue and trades at the offer presently stand at 42% compared to just 28% at the bid. "Unknowns" are at 30% so still a large number of trades being made off the LSE. Imho someone is desperate to get the price to 320p while they still have a chance. Interesting to see that the declared LP short hasn't budged for a year now, but that may not close until at or after the event if a bid does emerge.

    The Iran deal still looks uncertain:

    link

    If it does happen though it may not be a bad thing for TLW in the medium term. The extent to which global supply is increased will depend on the extent to which Iran has been evading the sanctions and the speed with which they can restore production capacity after so much downtime. Iran will be facing the prospect of investment in their oil industry to recover in the face of the low oil price. In any case, a shakeout at that end of the market will have an effect and will reduce the competition at the high production cost end of the oil market.

    This article gives some background to the complexities of the Saudi/Iran relationship, which will clearly be adapted to take account of any US action on sanctions.:

    link
    By brummell
  • Re: I always liked the Drachma by Cashman103
    Fri, 03 Jul 2015 10:12:00 GMT

    I like the Turkish Lira, but I won`t be sunning myself on their beaches in the future By Cashman103
  • Reuters - New Oil Bull Market Forecast by carliol
    Thu, 02 Jul 2015 17:43:00 GMT

    Good evening Everyone,

    An interesting read from the normally reliable Reuters. I realise it's a few days old but the message is still the same.

    link

    Carliol By carliol
  • Re: Uganda announces bidding round shortlist by brummell
    Wed, 01 Jul 2015 23:23:00 GMT

    DH. "The Ugandan government said on Wednesday it had shortlisted 17 oil companies to bid for six exploration blocks ". All of those shortlisted must have formally expressed interest - so much for the fairy tales about no one else being interested in Uganda. No point in TLW competing with the Ugandan government tender but it leaves open the opportunity of a farm out to disappointed bidders after the event. By brummell
  • Re: Capital Increase Stake In Tullow To ... by brummell
    Wed, 01 Jul 2015 23:18:00 GMT

    commercia, I tend to avoid committing my allotted cash in one go if I think that he price might improve. You may not catch the bottom but you get the benefit of a low price and reduce the risk of missing out from a rapid bounce (as tends to happen with TLW). By brummell
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  • Uganda announces bidding round shortlist by DaveHughes
    Wed, 01 Jul 2015 20:18:00 GMT

    link
    By DaveHughes
  • Re: NEW ARTICLE: Tullow Oil by MisterX1
    Wed, 01 Jul 2015 19:00:00 GMT

    "The group now reckons it can pump more of the black stuff in West Africa, upping guidance for 2015 from 63,000-68,000 barrels of oil per day (bopd) to 66,000-70,000 bopd."
    .
    REALLY.wow are we supposed to believe that and make "investment" decisions to buy on the strength of such great uncertainty masqueraded as increased revenue ??

    Note the following :

    (1) Production does not equal Sales - under / overlifts happen
    (2) What is the Wet crude content and the Dry crude content ???? tlw will NEVER be able to determine that until [and if] they pump out not just the "black" stuff but also the H2O !
    (3) these few factors alone [there are countless others] that can very easily evaporate mug punters expectations.

    Wise punters know different

    By MisterX1
  • Re: Capital Increase Stake In Tullow To ... by commercia
    Wed, 01 Jul 2015 15:41:00 GMT

    i will be buying some.. i think there is more weakness to come though so will wait a little longer at this rate 300p beckons - iran deal could bring it lower again By commercia
  • Re: Capital Increase Stake In Tullow To Over... by brummell
    Wed, 01 Jul 2015 14:10:00 GMT

    Indeed, Capital ticks up through another 1% boundary at these bargain prices. TLW is cheap, as confirmed by iii. If Capital has a strategy that goes beyond accumulating a long term holding then how far will they go before making a move? My previous guess was 15% but these low prices art too good to miss and every share bought by a predator brings down its average cost if a bid is launched. On thing that is certain is that a hostile bid (as it would have to be) would need to offer a very tempting price to shareholders for the shrinking balance of shares to overcome any opposition from the BoD. As every day passes the future now gets brighter for TLW and the light dawns on proper investors as they come to realise the strong recovery that is ahead. By brummell
  • NEW ARTICLE: Tullow Oil "cheap" after upgrades by II Editor
    Wed, 01 Jul 2015 12:58:00 GMT

    "With strong performance in West Africa, particularly from its flagship Jubilee field offshore Ghana, LSE:TLW:Tullow has upgraded its full-year production forecasts. The group now reckons it can pump more of the black stuff in West Africa, upping ..."

    link By II Editor
  • Capital Increase Stake In Tullow To Over 14% by carliol
    Wed, 01 Jul 2015 11:45:00 GMT



    Holding(s) in Company
    RNS Number : 8474R
    Tullow Oil PLC
    01 July 2015

    


    For filings with the FCA include the annex

    For filings with issuer exclude the annex


    TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES


    1. Identity of the issuer or the underlying issuer
    of existing shares to which voting rights are
    attached:
    Tullow Oil plc
    2 Reason for the notification (please tick the appropriate box or boxes):
    An acquisition or disposal of voting rights
    X
    An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

    An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

    An event changing the breakdown of voting rights

    Other (please specify):


    3. Full name of person(s) subject to the
    notification obligation:
    The Capital Group Companies, Inc.
    4. Full name of shareholder(s)
    (if different from 3.):
    See Section 9
    5. Date of the transaction and date on
    which the threshold is crossed or
    reached:
    29 June 2015
    6. Date on which issuer notified:
    30 June 2015
    7. Threshold(s) that is/are crossed or
    reached:
    Above 14%

    8. Notified details:
    A: Voting rights attached to shares
    Class/type of
    shares

    if possible using
    the ISIN CODE
    Situation previous
    to the triggering
    transaction
    Resulting situation after the triggering transaction
    Number
    of
    Shares
    Number
    of
    Voting
    Rights
    Number
    of shares
    Number of voting
    rights
    % of voting rights x
    Direct
    Direct
    Indirect
    Direct
    Indirect
    Ordinary
    GB0001500809
    126,701,518
    126,701,518


    128,284,929

    14.076%

    ADR
    US8994152028
    1,354,056
    677,028


    677,010

    .074%

    B: Qualifying Financial Instruments
    Resulting situation after the triggering transaction
    Type of financial
    instrument
    Expiration
    date
    Exercise/
    Conversion Period
    Number of voting
    rights that may be
    acquired if the
    instrument is
    exercised/ converted.
    % of voting
    rights
    n/a





    C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
    Resulting situation after the triggering transaction
    Type of financial
    instrument
    Exercise price
    Expiration date
    Exercise/
    Conversion period
    Number of voting rights instrument refers to

    % of voting rights

    n/a





    Nominal
    Delta



    Total (A+B+C)
    Number of voting rights
    Percentage of voting rights
    128,961,940
    14.1503%



    9. Chain of controlled undertakings through which the voting rights and/or the
    financial instruments are effectively held, if applicable:
    As of 29 June 2015
    Number of Shares
    % of Outstanding
    The Capital Group Companies, Inc ("CG") holdings

    Holdings by CG Management Companies and Funds
    128,961,940
    14.150%
    · Capital Guardian Trust Company
    16,589,350
    1.820%
    · Capital International Limited
    416,300
    0.046%
    · Capital International SÁrl
    2,269,946
    0.249%
    · Capital International, Inc
    2,517,518
    0.276%
    · Capital Research and Management Company
    o EuroPacific Growth Fund
    107,168,826
    11.759%

    Proxy Voting:
    10. Name of the proxy holder:

    11. Number of voting rights proxy holder will cease
    to hold:

    12. Date on which proxy holder will cease to hold
    voting rights:



    13. Additional information:


    14. Contact name:
    Kevin Massie
    Corporate Counsel & Deputy Company Secretary
    15. Contact telephone number:
    020 3249 9000
    By carliol
  • Trading Statement and Operational Update by carliol
    Wed, 01 Jul 2015 08:59:00 GMT



    Trading Statement & Operational Update
    RNS Number : 7537R
    Tullow Oil PLC
    01 July 2015

    Tullow Oil plc - Trading Statement & Operational Update
    Actions taken in the first half to re-set the business, improve funding liquidity and cut costs
    Strong West Africa oil production in the first half; 2015 full year guidance increased
    TEN Project remains within budget and on schedule for first oil in mid-2016
    1 July 2015 - Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial year to 30 June 2015. This is in advance of the Group's Half Year Results, which are scheduled for release on Wednesday 29 July 2015. The information contained herein has not been audited and may be subject to further review.

    COMMENTING TODAY, AIDAN HEAVEY, CHIEF EXECUTIVE SAID:
    "We have taken a number of important steps to ensure that Tullow remains on a firm financial footing. This approach is paying off with good progress across the business in the first half of 2015. Our major oil producing assets in West Africa have performed strongly and we have upgraded our 2015 full year production forecast accordingly. The TEN Project remains within budget and on track for first oil in mid-2016. In East Africa, we are making steady progress towards project sanction with good appraisal and test results from our wells in Northern Kenya and strong support from the Governments of Kenya and Uganda. Finally, we continue to build our inventory of exploration prospects to provide options when market conditions improve."

    Operational Update

    PRODUCTION
    In the first half of 2015, West Africa working interest oil production was within guidance averaging 66,500 bopd. As a result of strong performance from Jubilee and the non-operated portfolio, 2015 working interest production guidance for West Africa has been increased to 66,000-70,000 bopd from 63,000-68,000 bopd. In Europe, working interest gas production for the first half of 2015 was within guidance averaging 8,100 boepd. This figure includes the impact of the completion of a Netherlands gas asset sale on 30 April 2015 to AU Energy. Average working interest production guidance in Europe, having been adjusted by 1,000 boepd to account for this sale, is now 6,000-8,000 boepd from 6,000-9,000 boped.

    WEST AFRICA
    Jubilee production performance has remained strong averaging around 105,000 bopd gross (37,300 bopd net) during the first half of 2015. Final commissioning of the onshore gas processing facility was completed in March 2015 and since then gas exports from the Jubilee field have averaged around 80 mmscfd. Tullow plans to drill two additional Phase 1A wells and the first of these, J-37, has commenced drilling. In light of the performance of the Jubilee field year to date and the decision to have a planned one week shutdown in the second half of 2015, Tullow has increased its full year 2015 average working interest production guidance for the field to 103,000 bopd (36,500 bopd net). Work continues to incorporate the Mahogany, Teak and Akasa resources in the Greater Jubilee Full Field Development Plan which the partnership plans to submit to the Government of Ghana by year-end.

    The TEN Project continues to make excellent progress and remains within budget and on schedule for first oil in mid-2016. Important milestones on the project achieved during the second quarter included: the running of the first two of ten well completions; the installation of the turret on the bow of the FPSO; the first in-country fabrication works made ready for the start of the offshore installation campaign in mid-July; and specialist subsea manifolds and umbilicals from the USA made ready for transport to Ghana. Following the 25 April ruling from the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) on Provisional Measures, discussions are ongoing with the Government of Ghana on their implementation an By carliol
  • I always liked the Drachma by bigwads
    Wed, 01 Jul 2015 08:26:00 GMT

    https://www.unitjuggler.com/convert-forex-from-EUR-to-GRD.html By bigwads
  • Re: Brent Crude Up 2.60% at $63.60 by SilverSnout
    Wed, 01 Jul 2015 06:02:00 GMT

    Oh yeah..let's hope the price of the black stuff rockets. More money for them Arabs, Ruskies, Africans, Venezualans..the bad guys. Less money for hard workin folks here..the good guys. And just so carliar can recoup a thumping great loss on tlw shares. What a piece of work carliar is. Come on you boffins..let's have solar power, an nuclear what is cheaper.. let's kill off oilie Tullow for good. $$ By SilverSnout
  • Big mover by members
    Fri, 03 Jul 2015 14:06:07 GMT

    CAMPBELL 12. Positive drilling news coming out soon? Ten days after your post we are still waiting and shares have plummeted to 333 as i talk to you and plunging by the minute
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  • 2.90 by Kaimirza
    Fri, 03 Jul 2015 10:50:33 GMT

    Target price for buy in. not sure if it will drop to this but it has done so in the last 4 months. still too high to buy in
  • RE: Long term hokd by McColla
    Wed, 01 Jul 2015 08:24:18 GMT

    pure bottom drawer ****e .
  • RNS by fermoy2
    Wed, 01 Jul 2015 07:33:08 GMT

    link

  • Long term hokd by kenny8888
    Mon, 29 Jun 2015 10:00:49 GMT

    With Greece, wars, and faltering growth in the euro zone, oil price rises still look a long way off. Added to that, Tullow's drilling programme will not yield short term results so it's hold on for a long term play with this one IMHO.
  • Divi by kenny8888
    Mon, 29 Jun 2015 09:57:49 GMT

    Dividend suspended at the moment
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  • RE: Big mover by ContraryMary
    Thu, 25 Jun 2015 23:30:37 GMT

    I hope u are right, is there a divi here at the minute ?.
  • Big mover by Campbell12
    Thu, 25 Jun 2015 22:25:32 GMT

    This one is due to move big in an upward direction. Some positive drill results about to be released.
  • WTF by fermoy2
    Thu, 25 Jun 2015 17:06:21 GMT

    Is going on here FFS.
  • LATEST NEWS RE TELEGRAPH by bob6
    Mon, 22 Jun 2015 22:17:16 GMT

    European hedge fund believes market for crude is oversold as demand picks up Investors are beginning to bet on a sharp rebound in the oil price by the end of the year, on the back of rising demand and a slowdown in US production. Insch Capital Management, a Swiss hedge fund, is predicting that prices will be trading at about $82 per barrel by the beginning of next year, and already claims the market is oversold. The Lugano-based fund says it plans to ramp up investments in the sector in preparation for an expected 50pc uptick in the price of crude by 2016. Oil prices have recovered somewhat since falling sharply to below $50 a barrel after the Organisation of the Petroleum Exporting Countries (Opec) decided in November to maintain production levels, despite weaker demand. Brent crude is currently trading at $64 a barrel. However, consensus is forming among investors that the oil market could be poised to recover quickly, spurred by strong demand and an expected slowdown in US production, thanks to the high number of drilling rigs that are being closed. Insch Capital said: “After the recent crude oil price declines, the oil rig count has dropped precipitously. Many oil companies are being forced to sell properties in order to repay bank debt.” Low prices have given rise to speculation that oil companies may merge or divest assets. Royal Dutch Shell (Xetra: R6C1.DE - news) has tabled a £47bn deal for BG Group (LSE: BG.L - news) . But apart from that high-profile acquisition, few deals have emerged. Insch says it is taking advantage of the market by looking at adding a number of properties to its portfolio. “If completed, these acquisitions will substantially increase not only our operating rig count, but also our proven reserve.” states andrew critchlow
  • TLW CGT dispute settled by Robert34
    Mon, 22 Jun 2015 06:14:12 GMT

    Good to hear the tax dispute with Uganda has been settled. Bal $36M to be paid over three years. In my opinion TLW are good value, now that the tax dispute has been settled.
  • There she blows (sort of!) by pmmorgan2000
    Wed, 17 Jun 2015 13:24:46 GMT

    With crude going up and the dip in share price over the last week, 5-7% by the end of the day?
  • RE: Drop by Aguero
    Tue, 16 Jun 2015 15:18:16 GMT

    do you think it will drop below £3 again ?
  • Drop by Kaimirza
    Tue, 16 Jun 2015 08:23:02 GMT

    Come 2.87!!!!! i want to buy back in!!!
  • International Producers - ZERO DEBT by tradernor
    Sat, 13 Jun 2015 06:39:19 GMT

    An outstanding PRO article from Seeking Alpha for the bargain hunters who want to diversify and look for undervalued and DEBT-FREE international producers:

    link

    Needless to mention, they receive Brent pricing too.