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!

try this .....


The ($2bn) refinancing and (Ghana and Uganda) oil discovery are important milestones in the development of Tullow's assets. More work needs to be done in Uganda, but everything appears to be on track for the company, which is one of the few real growth stories in the FTSE 100 at this time.

Ahead of Wednesday's results announcement, Tullow Oil shares remain a buy.

cynic will they report a profit or loss?

no idea and don't care as long as the numbers are (more than) satisfactory

we suspect some impairment write offs.

do "we" ..... well certainly first half numbers were more than satisfactory (187m profit before tax), and if "impairments" reduce the tax bill, so well and good

that said, i accept that releasing good (excellent) news is arguably a way of sweetening what may be coming, though one could equally argue that announcing this news with the results would have the same or even better effect

annouced impairments of 235m should be covered by proceeds from asset sales, first half average oil price $74 (net of hedging).

only one important Q as far as I am concerned ..... will numbers and forecast be good enough to keep sp heading north?

Well the Brokers think so.

Just lifted off Investigate today...

Oil & Gas Producers

Tullow Oil Deutsche Bank has raised its target price from 890p to 1,010p.

UBS has raised its target price from 825p to 900p.

Been a strange day for oileys. Oil price (brent aswell) as been relatively strong throughout the day yet the individual companys have been no great shakes themselves given that the fundies behind the OIL sp have perked up a little of late and the Opec countries are looking once again to reduce supply.

Dollar earlier on was weakening a little aswel.

Perhaphs its the recent short bull run that as become a little tired.

Holding Dana and Tullow at the moment cashed in Pertrofac. (though I might regret it, if it gets promotion... then again they dont always do well in the top flight, ask Stoke City)

Back to the construction of my web site.

Thats why I havent been around as much Boys.

Beautifull charts and analysis.

the only fool would be you cynic if you believe in the current financial climate that there would be a bid that truly values tlw potential, particularly if its the chinese as they do not like to overpay for anything.

"true value"? ..... what's that? ..... as with a house or anything else, something is only worth as much as someone else will pay for it - e.g. try selling your apartment in Dubai at the so-called market price!

at the end of the day, just hanging on to a share because it looks pretty and may show a good paper profit (or not as the case may be) neither puts bread on the table nor pays off your mortgage nor anything else

A bid would be based IMHO at a barrel of oil at $60 dollars.

The market pros are using that figure going forward into this year. So that would be a base at where to start to value the company.

The rest you lot can do.

Im carrying on with building my web site.

Cyners, take a look at the De La Rue chart. dlar

Its magnificent at the mo, go back 3 years aswel and dont tell me you dont see any promise there.

Problem is with that outfit you cant get any reasonable info from them.

Must be nice to be printing.... what is it 75 Billion notes.

Been a brilliant share to trade this one, out at the moment and hoping for an initial "drop on results day" tomorrow then maybe in again (he says with fingers crossed) -):

results often bring a fall, so you could well be right .... we shall see

Were looking for PBIT... 300m and eps of 23p, concensus.

for speed i have just extracted from the report the bits i thought most interesting ..... there may be some profit-taking, but if so, that could (should?) be taken as a chance to buy

Record results and solid production
Tullow has delivered record results for 2008 driven by a strong operational performance, higher oil and gas pricing, and profitable portfolio management offset by exploration write offs and impairments. Whilst production decreased as anticipated by 9% to 66,600 boepd, average price realisations increased, by 17% for oil and by 40% for gas. Basic earnings increased to 30.9 pence per share.

On track for Jubilee first oil in 2010
Phase 1 of the Jubilee field development in Ghana is on track for first oil in 2010, just three years after the initial discovery well in 2007. Tullow, as unit operator, has selected all major contractors and development drilling and facilities construction are under way. The Jubilee partners have all sanctioned Phase 1 development and final government approval is pending resolution of the gas development plan. The Jubilee field has resource potential of up to 1.8 billion barrels of oil and the rest of the Group's Ghanaian acreage offers substantial upside, including the recently announced Tweneboa discovery, which adds material new resource potential of up to 1.4 billion barrels of oil equivalent.

Commercial threshold exceeded in Uganda
Investment in two substantial drilling campaigns in Uganda has resulted in material discoveries including the world-class Buffalo-Giraffe and Kingfisher fields, which have discovered gross resources of circa 600 million barrels of oil. We have now exceeded the volume threshold required for full scale development to commence in the Lake Albert Rift Basin and a dedicated team will now define the optimal method to commercialise these resources.

2008 2007 Change
Sales revenue (m) 692 639 +8%
Operating profit (m) 300 189 +59%
Profit before tax (m) 299 114 +162%
Profit after tax (m) 226 53 +330%
Basic earnings per share (pence) 30.9 7.1 +335%
Final dividend per share (pence) 4.0 4.0 +0%
Operating cash flow before working capital (m) 519 474 +9%
Production (boepd, working interest basis) 66,600 73,100 -9%
Realised oil price per bbl (US$) 73.6 62.7 +17%
Realised gas price (pence per therm) 52.4 37.3 +40%

PBIT more or less bang on (m)299........ Diluted EPS 30.49p which beats concensus estimates.

Solid results bottom line...... first glance.

Market not liking oileys again today .... first glance.

Bit of value at 790p, but don't wait to long.

i would agree, though i actually already hold enough ...... despite the profit-taking, sp seems disinclined to fall away

Not yet anyway, but I get the feeling (in general) the bears are back out and we arent a hour into the day yet.

Beginning to wonder if I should start my early year gardening clean up.