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!

http://www.smallcapnews.co.uk/article/Nostra_Terra_Oil_and_Gas_buys_interests_in_US_properties/7935.aspx

mr halifax would do well to take note of the old investment adage, "don't listen to what people say; listen to what the market says".

with that in mind, TLW continues it's (strong) upward trend, with the next significant resistance being at 1040, being the all-time high

North Sea player Tullow finds more oil in Uganda
Published 04.08.2009 10:13:28 by Patrick McloughlinNorth Sea oil player Tullow Oil says it has made an oil discovery in the Ngara-1 exploration, located in the Butiaba region in Uganda, encountering over 8 metres of net oil pay.

Located about one kilometre in Uganda's block two, from the crest of the structure, the well was drilled to a total depth of 741 metres and Tullow said it had been successfully logged and sampled.

"Good quality basal sands were encountered with over 8 metres of net oil pay in a 17 metre gross reservoir interval with additional potential up-dip," Tullow said in a statement to the London Stock Exchange.

The Ngara-1 well is located 3 km south of the Ngege-1 discovery and according to Tullow de-risks two adjacent traps within the Ngara fault block.

The company added that consideration will be given to these and other prospects as part of the next Block 2 drilling campaign which is expected to commence early in 2010.

The well is now being suspended as a future oil producer.

The Ngara-1 well and the other discoveries made in Uganda will form part of the detailed basin development plan which the integrated project team is currently working on.

"Ngara-1 is the 10th discovery in the Victoria Nile Delta play and marks the end of a very successful opening phase of the Tullow-operated exploration campaign in the Butiaba region of Block 2," said Angus McCoss, Exploration Director.

Preparations are now under way to start a new drilling programme with our partner, Heritage Oil, in Block 1 in the fourth quarter

but TLW is so terribly over-priced already, and they have yet to take delivery of any spaceships at all to move the balck stuff to the coast!

and still TLW surges upwards and straight through that 1040 expected resistance ..... even i confess amazement at this continuing strength, but shall follow the adage (for once) of running the profit ..... just maybe (though unlikely) a major has TLW in its sights

Results due shortly, after DGO's announcement of a 30% decline in earnings today, what can we expect from TLW?

no idea, but on the basis of bottom line results from all oilies, would not expect TLW to buck the trend ..... i know u and i disagree on TLW, but TLW's "usp" is that they have made some very significant finds in the last few months and seem to be on a roll with successful strikes ...... i actually banked a slice of my profits about 10 days ago and just may do that with a bit more, though shall certainly retain a respectable holding

perhaps a shorting opportunity.

maybe, but it's quite a brave call as market has been due for a correction and my reading of very basic charts indicate several possible support levels just below the current ..... of course one never knows how long a correction will last.

oil price seems under pressure, certainly not being supported by real demand so most oilies should move down as oil heads towards $55-60.

so are you going to short?

not yet waiting to see whether the market is in correction mode or not.

lol! ..... hard to know isn't it, and of course by the time one makes up one's mind, it's too late

fyi, i have opened a modest FTSE long this evening, which is now modestly in the money

so you don't see a double dip?

only in the swimming pool!
more seriously, my gut feeling is not, though i accept that the markets often confound the real world.

our biz is truly worldwide, and we are certainly seeing a pick up in activity in india and f/e ...... saudi is still a bit sticky, but is a world of its own ..... there are some fairly reliable reports that exports from usa are also now picking up ...... europe is quiet, but much of it is still closed for summer holidays ..... south america is not an area where we do much biz so can't offer comment

Yes its a bit heads or tails at the moment, but it is always easier to go down than up.Good (recovery) profits have been made and performance has to be judged.

indeed ..... trying to be a good boy for a change, and prudently banking at least partial profits en route

Out in the Atlantic : I've spotted a "cloud formation" called "Bill"...I reckon it could be the first big hurricane of the season heading for the USA...it might just be a tropical storm at the moment but might get a lot nastier later on....might or might not have an effect on the price of WTI depending on supplies and direction...shall try to keep you posted...

Hi required I've got a long wti/short brent trade going which should prove interesting seeing as it's been the quietest hurricane season for a long time,though perhaps not for long. Wti seems to be trading at a deficit re. huge inventories at Cushing and purported commodity trading regs. stateside that may limit position size.Nigerian attacks also prop up Brent relative to WTI.Arbing is not without risks however and stops are difficult to employ as platforms don't seem to offer a divergence stop as far as I know!There have been reports I think today regarding the new employment of commod traders, star performers of which since March have been copper,oil and sugar and definitely not pork bellies

Well there seems to be a storm called Bill coming and I don't mean Clinton coming home though the effect might be the same.....a pullback was bound to come as long as the drop doesn't persist (I hope)...