(TLW) Tullow Oil

Hi all,

Could have made good profits from these huge swings in SP, but I am not game to sell at the top, I did have to sell some at 15.50 to p[ay for my land. However, it's all good because the swinging trend is up.

I suspect in 3 week's time we' ll be ahppy chappies.,

Looks like HOIL is in a spot of trouble with the Congo episode (fighting in the lake) where quite a few people got killed. I hope TLW does not get dragged into it.

KKW

Morning All,

Interesting news item in which Ian Springett, Tullow's Chief Financial Officer, outlines Tullow's growth plans for the future. A good read which provides a comprehensive overview of Tullow's growth potential.

http://www.efinancialnews.com/story/2012-05-21/springett-oils-tullows-growth-plans

Carliol

Read it Brummell twice to get a handle on likely scenarios - Im quite happy to buy Tullow which has plenty of cash, good strike rate and lets not forget a possible takeover perhaps at some stage.

An interesting theme in the Sunday Times yesterday with comments that put a useful perspective on the Eurozone problems. A failure would obviously be bad for the banks but they seem to have been preparing for the various possible scenarios and not all of the consequences would necessarily be bad for the UK. One line of argument was that the problem is a European one and the European economy is not the be all and end all. Closer to home that suggests that TLW is likely to have some strength in a Euro disaster. Most of its business is outside of Europe and it reports in dollars.

Cygnus, very true but I don't see it as argument, more a sport with a just purpose. It is growing rather boring though as he is so easy - no challenge. If he lives in a vacuum though he will be starved of oxygen so I will try to resist, despite the fact that his intentions are immoral and most probably illegal. He will doubtless try to use silence as a sign of defeat and some of his utterings are so wrong that they should not go unchallenged.

Brummell

Can I suggest that, like most of us here, you simply ignore X1/snout ?

His posts are not designed to argue the merits or failings of Tullow but to get a response. S/he is a troll. This is what he lives for.

He thrives on the oxygen of attention and at the moment you are giving him all he needs. I'm not suggesting you put him on ignore as he is ammusing and if all posters failed to rise to the bait it would be interesting to watch her/him wither on the vine.

It's just an idea but you will never win this argument even if you have the facts on your side and faultless logic because all he wants is a response. He can make it up as he goes while you stick to the facts. That put you at a disadvantage.

That's my two penny worth - think about it. Arguing with trolls is a losing strategy !

Cygnus 7

He can't even afford to pay his honest hardworking gardener a fair wage
...................
Oh dear....................he has a very good wack I can tell you.....for what he does......I could go cheaper, but then I am a respectable lady...

Nice try bml, nice try.....

The only one on hard times is YOU bml .....as you bought at 1611 and are now suffering the consequences of a misplaced error of judgement.....not the first as we all know....and now with your fruitless attempts to ramp yet further, will no doubt suffer somewhat more.......

Now of on hoilday for a couple of weeks....but I a sure that our learned colleague Silversnout, will no doubt keep check on you on you, so that you don't start to get to arrogant....

Now we know with certainty that X1/SS is on hard times. He can't even afford to pay his honest hardworking gardener a fair wage for forking over his window box. He tries to diddle other investors just as he disrespects and diddles a working man while himself (or so he claims) lives a life of luxury. Selfishness and exploitation is obviousy ingrained in his nature. Let's hope that the poor chap manages to find a more appreciative employer and leaves X1/SS to his own devices.

Thanks for pointing out my omission X1/SS. Here's the buy view (its not a recommendation, read the words). Look at the chart. TLW has a habit of providing real opportunities to canny investors. X1/SS's words have sung a similar false tune all the time TLW has been rising from £9. A bargain even at its highs it is a real bargain at the current price (that's my view).

(1) "Here we go again. It's the same every time TLW's price dips into ultra bargain territory. Out of the woodwork crawls X1/SS, trying to convince people to sell instead of buy." - MisterX1 neither posts buy, hold nor sell. Only bml posts buy.
Indeed, why is it that bml has not made a buy rec in recent days ?? Well its obvious - first bmls buy rec at 1611 for new entrants in just 3 months have see their values drop by 16 % ! To post yet a further buy will bring bmls disgrace below ground level. Furthermore, MisterX1 has always posted whether rise or fall - as postings will tell, forever striking a balance. So another rant from a false tongue.

(2) bml talks 'bargain terittority' - rubbish - if it were such a bargain they would have been snapped up, but they are not and the sp reflects it. What fails bml to understand is that there is a ceiling to everything and the tlw sp can be argued to be practically there when at 1611. Despite the UG FO, Kenya and a "great" management statement the sp has still gone down. Rather like the many houses MisterX1 bought in the early 1970's, inflation and huge rises have meant that she now still has several at many hundreds of thousands of pounds each in addition to her vast house and a portfolio of other assets. However, she is also wise enough to realise that, despite the bulge in UK population, more people living alone, shortage of houses particularly in the South East [where she has them] that the prices have reached their ceiling. The same with share prices.
(3) the relentless dive into recession and pending depression world wide, more eurozone crises by the day, with no sign of stopping means that, more than ever, Cash is King...there is no need to hurry punters, there are no bargains....this is the new order of the economy - if you believe so, then there will be MANY 'bargains' as bml likes to put it - and not just tlw shares.
(4) incomes falling behind cost of living will mean less and less disposable income - HANG ON TO IT - for instance, MisterX1's gardener had the sheer audacity afer 7 years in my employ to ask for the equivalent of a 5% rise after all that time, claiming costs had got to him. I was astonished, and reminded him that he was lucky to be in my employ, and if not satisfied with the income I provided him would dispense with his services, as I told him I could get an east european at half the price who work harder. He profusely apologized when he understood the error of his ways - which I accepted this one first and final time. The moral, of course,is that similar stories are repeated up and down and across the land in all areas of business - pay freezes, less benefits etc. Remember, hard earned CASH IS KING.
(5) bml has lost out - IF he/she practices what she preaches, then bml will have bought profusely at 1611, and of course is now desperate to recoup those losses hence the desperate ramping.

Punters, as a woman of honesty, integrity and morality, I urge you to make your choices wisely - and as always, its YOUR choice. Hurry Not - for there are many "bargains" that will be forthcoming. Part with Cash Not - until you have DYOR and finally, Trust bml Not - a ramper of the most prolific sort [together with similar ilk on this bb] who use false tongue for false gain.

Here we go again. It's the same every time TLW's price dips into ultra bargain territory. Out of the woodwork crawls X1/SS, trying to convince people to sell instead of buy. And where's the basis? Some invisible hot dog seller in the City, a genius above all reputable analysts, whose advice is worth every penny of what he charges for it (and that's nothing). Mugs only need pay attention. The price always rises again, time after time after time, all the way from £9 when X1/SS started saying that TLW was a dog and Uganda would be the end for it. Now TLW is $2.9bn richer still with assets in Uganda and selling Asian assets. Why? Could it be amassing a war chest for the next leap in its fortunes? I think so.

X1/SS doesn't even have the guts to present his own opinions, an anonymous poster who has to quote an anonymous "friend" to add weight to his incessant message.

When the invisible hot dog seller puts his invisible hat in an invisible bun and eats it will he prefer invisible ketchup or invisible brown sauce. Answers on a postcard please to SS c/o X1.

Listen not to X1/SS. DYOR, look at the facts and at TLW's track record and draw your own conclusions.


When the invisible hot dog seller puts his invisible hat in an invisible bun and eats it will he prefer invisible ketchup or invisible brown sauce. Answers on a postcard please to SS c/o X1.

I imagine old bmmr in a bedsitter very frustrated coz he hasn't pumped a puff for a while. Probably relieving his frustrations thumbing through soiled copies of Tullow PR puffs, panting to publish a BUY.
FFITC had a few things to say about old bmmr's recent posting.
The license tlw got in Mauritania was a dog. They only took it to get in with the Mauritanians as part of a plan to get hold of the deep water blocks. But Kosmos sneaked in and took them plums. The block they've got includes Chinguetti (a dog) and so-called discoveries at Banda, Tiaf, and Tevez ("dogs all three which won't ever be developed").
Zaydeus was one of the most expensive wells in history (over $250 million). FFITC will "eat his hat" if it's ever developed.
As for the sale of Bangladesh it's "just news for the sake of news" (ie a pr puff). "They'll be lucky to get more than a few tens of millions for it."
You heard it from MisterX1 and Silversnout. Storms are brewing in Europe. Obama is doing a bmmr in USA. The oil price will fall further. And remember tlws discoveries need high oil prices to make development possible.
DYOR but don't listen to old bmmr.

by de way............where's bml ?

Hasn't posted a buy rec recently.........maybe doesn't wish to sully his fingers with pressing the button anymore.....now has seen the light

OR

has shorted and has explantions to give to his/her bank manager...

Could cause a bit of concern
...............................................
Indeed - MisterX1 was in K this week gone - investigative journalism.....

Interesting..........

Much more usefull than uk equivalent Yesterday they talked about. potential
Kenyan unrest, concerning potential military action by the down trodden.

Could cause a bit of concern

further confirm the existence of a working petroleum system.

on trend and analogous to the large oil fields in Yemen.


http://www.energy-pedia.com/news/somalia/new-150353

Getting closer

M1

This was in yesterday's management statement:

In March 2012, Tullow announced its intention to begin a process to divest its Asia businesses.

Hi KKW,

Good find re AH discussing the possible sale of assets in Bangla Desh and Pakistan. He could use the money to go towards funding the development of Kenya. Tullow appear to be very confident about Kenya.

Re your post at 0129, I can't recall any mention of five rigs for exploration in Kenya. However, I do remember Tullow saying that five rigs were on standby for Uganda, this was around the time Tullow were finalising the farm down to Total and CNOOC.

Looking at the potential in Kenya and the number of prospects identified by Tullow I think they could use five or more rigs in Kenya to expedite the drilling programme there.

Carliol

Hi all,

http://www.bloomberg.com/news/2012-05-17/tullow-says-kenya-s-oil-potential-may-exceed-uganda-correct-.html

Nothing that we don't already know. But it's good to hear AH talking about it
in the most confident way.

First time there's a mention of selling assets though. Might be they are going
to use those funds and really concentrate on Kenya.

KKW

Hi Carliol,
From your post

The amount of exploration, appraisal and development drilling currently taking place is simply staggering. I'm absolutely certain that we are now entering into a period of rapid development by Tullow

I think this is also supported by the recent comment from the new chairman Simon Thompson on the vidio link from Tullow
His first statement

He has spent much of his careear in larger companys and has insites into what works and does,nt as Tullow grows in size and complexity.

I think onboard to bring Tullow to supermajor status!!

Also from Angus Mcoss expect to identify up to 100 new leads in Kenya as drilling progresses.

M1

Carliol,

Good post Carliol.

Only one thing I am disappointed with the report is that they did not even let out a single hint as to what is happening with Ngamia. Is that by intention or are they still drilling ahead with no new findings?

They were planning to have 5 rigs working in Kenya. Now including the new one currently being sourced means we have only two. Is that correct? But having said that, my understanding is that they don't need a high power rig to do the drill stem test, so we'll have at least two rigs doing the initial drilling.

Four more weeks to go!!

Kkw

Hi All,

I've been having a read through today's splendid Interim Management Statement from Tullow and find that the amount of exploration, appraisal and development drilling currently taking place is simply staggering. I'm absolutely certain that we are now entering into a period of rapid development by Tullow which no other comparable oil company is capable of. I have extrapolated the following with regard to the current and immanent drilling programme that clearly demonstrates the strength and future prospects of Tullow:-

GHANA On the Jubilee Field, development continues to gather pace with the Phase 1A development which includes five additional wells and three injection wells. The first well was drilled in April and first production from Phase 1A is expected in Q4 2012.

On the Deep Water Tano licence, exploration drilling has commenced on the Wawa prospect to be followed by the Okure and Sapele wells. These wells will end the exploration period on the D W T licence in Jan 2013.

GABON A programme of development wells is on-going.

IVORY COAST Drilling of the Peon-1 exploration well on a Jubilee type prospect has commenced with the results expected in June 2012.

UGANDA A significant programme of appraisal and development has commenced to include up to 20 exploration appraisal wells.

In EA- 1 Significant prospects have been identified to the west of the River Nile with the Omuka well due to spud in Q4 2012.

In EA- 2 The Ngege appraisal campaign is taking place with two out of four successful wells to date.

In EA- 3A CNOOC plan to commence drilling the Kanywataba - 1 exploration well later this month.

KENYA The Ngamia - 1 exploration well, having already found 100m of net light oil pay, is currently drilling to it's target depth of 2,700m to test deeper prospectivity.

The Twiga -1 exploration well is due to spud in Block 133T in H2 2012 and Tullow is currently sourcing an additional rig to drill the Paipai prospect on Block 10A.

EUROPE The Ketch-10 well was completed on 27th April 2012 and flow tested at 25 mmscfd and will come on stream later this month.

Of further interest in Europe, Tullow pre-qualified as an operator on the Norwegian Continental Shelf. Does this indicate Tullow will be obtaining acreage or farming into the highly prospective NCS.

SOUTH AMERICA

In French Guyana a comprehensive exploration and appraisal programme will commence in June 2012 with a well to appraise the Zaedyus discovery. This will be followed by an exploration wildcat well.

In Guyana the Jaguar - 1 well which commenced in February 2012 is expected to be completed by Q3 2012.

In conclusion, in recent years Tullow have discovered two world class fields in Ghana and Uganda and it looks as if French Guyana and Kenya may be next. The enthusiasm towards both French Guyana and Kenya remind me of the early days of the discoveries in Ghana and Uganda, however, only time and the drill bit will tell.

Whilst there are lots of uncertainties in the business of oil exploration, there is one thing that is certain and it is that being an investor in Tullow is never dull.

Carliol

Can anyone remind whether the divi is expressed in pence or € cents or $US cents?
Thanks.
...............................

LOL - wdean cannot even read a RNS -----no wonder the punters are in such dis-aray........

Now wdean 1 + 1 = 2, 2 + 2 = 4, now your turn 3 + 3 = ?????

Can anyone remind whether the divi is expressed in pence or € cents or $US cents?
Thanks.
...............................

LOl - wdean cannot even read a RNS -----no wonder the punters are in such dis-aray........

Now wdean 1 + 1 = 2, 2 + 2 = 4, now your turn 3 + 3 = ?????

Can anyone remind whether the divi is expressed in pence or € cents or $US cents?
Thanks.

mmh, ended the day neutral - one in the kisser for Mr.X !
.............................
And one in the kisser for you too wdean.......

was it also you who bought at 1611 as well ????

mmh, ended the day neutral - one in the kisser for Mr.X !

I see the dividend has doubled, so it is hardly surprising for the share price to have dipped a little when it went ex-dividend today. It is currently only showing 1.8 p down, after an 8p dividend announcement, so I see that as a rise.

sure we can fit some more in,

Yes the reed buck in the uganda National park

Good post teadrinker

M1

Ngamia is very exciting, and for many, will be potentially lifechanging alongside Tullow's other assets. Happy to wait it out big smile on face.
........................................
Beware - despite the recent two 'good' pieces of news, the sp did not rocket.

The issue will be if it doesn't come in as expected - then a tumble probable as the sp has already been factored in to expectation.

So yes, "life changing" for some - to the down and out status..... if it goes wrong......

Sell, buy, sell, buy...decisions, decisions punters.....

Choose wisely...

Ngamia will come when its ready. I am happy to wait it out as we know we have a nice find already on the cards, anything else is a bonus. The SP may not move for long in the current climate anyway without slumping or flatlining out days later on euro colliwobbles (pretty inevitable at pres).

I'm in a good place right now here, the shorterm dips don't bother me. Ngamia is very exciting, and for many, will be potentially lifechanging alongside Tullow's other assets. Happy to wait it out big smile on face.

Hmm... Its getting harder to hold back from buying some more

.... (or more properly its extent), is mainly due to computerised automatic trades. The world will go on, it needs new oil, the Euro crisis is a sideshow.
We should let Greece go and concentrate the saved bail-out money on Spain and Italy etc. to make sure they don't follow suite. Baggsy next vacancy at the ECB.

Grumpy,

I've a simple solution, I don't have them on ignore, however, I don't read their posts and I don't post comments.

As a positive thing, however, when I see their posts appearing, I know TLW SP is due to be on the up up away again.

Changing the subject, diappointed that there was no news on Ngamia which could have offset the bad news from Greece.a bit

KKW

Exactly X1/SS. While you are trying to convince investors to keep an eye on other companies you are doggedly keeping both eyes firmly fixed on TLW. I wonder why. Why don't you take your own advice and look elsewhere?

The test of a resilient share is whether it beats the FTSE on the way back up, and TLW always does.

Shares go up and shares go down but TLW's history clearly shows that it goes up more than it goes down. I look foperward to what fantasies come from that invisible hot dog seller in the City,

Lol, these two are desperados aren't they?
....................
LOL - nothing to be desperate about - on the contrary it is our well renownend ramper who is making the excuses to puff up the prices - NOT these two 'desperados' as you like to put it.

Sad ol' grumpy eh ??

Lol, these two are desperados aren't they? Good job they're on ignore. Let's save time and just tell them what they want to hear...then they might get a life between them and boiler-room off somewhere else for the day...

TULLOW TO BLAME FOR: the Euro Crisis, Greece, Japanese Tsunami, US bad mortgage issues, the decline of the west, shorters running riot and general greed of City folk, anything else I forgot. 9/11? I'm sure we can fit some more in. Phone hacking maybe?

Oh yes Tullow stole some kid's lunchmoney yesterday. Happy now? We could make them a t-shirt of the above that they can hug at night before bed.

Just when MisterX1 thought bml's disgrace was complete, there is more !!

(1) Bml : "I can't believe that you keep coming back after being discredited so many times" MisterX1 was proved correct about ongoing delays in UG and that the sp was already factored in despite the FO and Kenya. You, bml are the discredited one preaching a Strong Buy at 1611 when you should have known better.
(2) Bml : "We all saw how strongly TLW recovered until the Greek debacle upset the applecart" This ongoing economic crisis affected ALL shares and the tlw shre is not omnipotent -
(3) Bml : "If the FTSE goes down then so will TLW. Surely you are not suggesting that people sell low when we all know that sunrise will come sooner or later and TLW's rise will come with it." So will other shares as well. Furthermore, some who bought at your Buy Rec at 1611 must have had to sell at less. Those struggling with cash will have to sell rather like those in the housing market who stretched at paying too much ending up with negative equity.
(4) Bml : "As for the current price, well obviously the cheaper it gets the better the buy." The same can be said of thousands of other shares
(5) Bml : "Get real X1/SS, TLW is a steal at these prices and you know it." Get real Bml, many other shares are a steal at these prices and YOU know it.

The TRUE determinant of a resilient share is it's ability to withstand the average falls in the FTSE 100 - punters should keep an eye on those shares that do - as it will offer best protection for the hard pressed investor.

Your choice punters.....your choice. Think wisely, think sensibly and remain vigilant and cautious - there is no reason to rush....cash is king.

Lets see what today brings forth.

http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Tullow_Oil_Tethys_Petroleum_and_Ophir_Energy/3449e6103ccf.aspx

Snot - some advice...see a Doctor!

Nice little update from our outstanding company Tullow.

BG

When old bmml is feeling horny and desperate for a puff he just can't help himself...ooh aah ooh aah ooh ooH oOH OOH...BUY!
Even as the global economy teeters on the brink old bmml is so desperate to pump a puff he will reach under his bed for well thumbed spin to satisfy his insatiable desire to ramp.
I will be discussing bmmls indiscretions on Mauritania,Total and director purchases with ffitc tomorrow.
Silversnout