The CEO states Tullow sp is much too low and I bought in on the comments---todays results are excellent and I feel this one is being overlooked on here. check it out bargain hunters-I'd welcome some expert feedback!

You may well be right - wasn't trying to grind an axe, just more amazed at what goes on out there that we have no idea about.

I get far more P.O.'ed about the fact that some towns in Germany have 25% unemployment, with almost 5 mil jobless in the whole country - can't believe the Govt wants to pay the long-term unemployed about 400 per month and you only get your rent and bills paid if you have less than about 2,500 savings. talk about a poverty trap!

that was always the inherent and hidden problem when East and West came back together

new money into PMO or TLW (if either) ......

PMO
has developed a bad habit of drilling dusters, and has been whacked accordingly and deservedly.
sp is now recovering, but (good news, bad news) still below though starting to challeng all key DMAs.
surely PMO can't keep drilling dusters - or can they?

TLW
though they recently plugged a well, it was not important to them in the scale of things ..... i think their major project(s) are west africa and uganda.
TLW sp has surged through a potential stern resistance of late, but does it have more puff?

Does anyone know why TLW is dropping so fast?

I think because oil reserves are piling up in US and demand is lower now.

and crude (nymex) is also under pressure, at least for the moment

Most Oilers and Miners getting a slapping at the moment.

Meanwhile, Merrill Lynch cut its 2009 oil price forecast to $90 a barrel from $107 a barrel and warned that a "synchronous global recession" could bring oil prices to $50 a barrel. It said U.S. oil demand is far outpacing its decline expectations, European demand is falling rapidly, and some of the emerging markets aren't keeping up either.

$50 is very good. Inflation will drop then.

Is it worth buying TLW at the current price now if overall the price of oil is going down?

prob not, except for the long haul ...... PMO may be a better bet, though they have got into the bad habit of drilling dusters of late

thanks cynic

I see TLW is continuing its dropdown to 620p currently. It feels like bad times for oilies. I remember buying this at 400p and sold at 700p. Looks like it will go back to 400p if oil price and economy are stumbling.

all oilies are being whacked at the moment; even PMO which came out with a good drilling update this morning

Merrill and the like say whatever they want to support their current position (presumably short). In a few weeks when their long they'll probably be saying $150 again like they were a few weeks previously.

If the dollar weakens against other currencies as predicted in the medium-long term, then oil priced in $ will go up / stay the same to retain the same value in the other currencies.

$100 acting like a magnet at the moment, or a lightbulb to a moth, low $90's providing strong support.

looks cheap now at 477

..and the rest -):

Gone back in long.

Seems to be a lot of Broker support with forecasts of over 700p

Latest broker buy on tullow..

Tullow Oil PLC

FORECASTS

2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
17-12-08 BUY 272.00 20.70 6.50 229.00 17.70 7.00

If the oil finds in Uganda are economically viable how long will it take to exploit these oil finds and what will it cost? There is no pipeline to Mombasa which is the nearest port suitable and which is 800 miles away? Cant see anybody building a pipeline with oil at $40.