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!

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.

This was quick (off front page)..

Tullow Oil downgraded to add from buy at NCB, target price 890p

Not looking very good.

A lot of weakness in oileys in general.

Short term support for TLW at 784p and then 772p but if these are hit we should close the recent gap up with at support at 732p.

One good thing it seems to have the MMs on its side.

Just been watching a flurry of sells and they were just deflected off. Sp seems to be getting a little stronger.

you're asleep .... live is 806/806.50 as i write

Ive got live. You posted 6 minutes after me.

Its in a more volatile state than its beta suggests.

Should't worry to much about prices at this time of the day boys.. it's not even 10 o' clock yet -):

Conference call doesnt seem to be going well Stan.

Sps dropped since its been going.

2 hours 10 mins into the day..don't worry about it.

Getting a right clobbering now, that confrence cant have gone too well.

784p resistance taken out now if 772p goes we could be on for a real gap down.

hope cynic is'nt on the whisky to numb the pain of his burnt fingers. lol

--it its gone.

The supports gone.

Potential gap down now all the way to 732p........... and possibly a lot more.