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!

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)...

Bill has missed the windward islands (doesn't know what he's missing there)....and is by the look of things heading for Florida....(who would want a second home there with those monsters coming by every year).....from what I can see it will or might miss most of the oil installations in the Gulf....but I'm no weather expert..so I am just guessing it's path...

Bill is now going a bit further north and looks like heading for the Carolina's....

rq why the daily weather forecast, Bill is all wind and p...

First big storm of the year.....can effect oil prices.....

had me somewhat puzzled too ..... perhaps he's worried it'll blow the new spaceship fleet off course (lol!)

http://www.telegraph.co.uk/finance/newsbysector/energy/6111154/Tullow-Oil-chief-executive-Aidan-Heavey-says-the-future-of-fuel-lies-in-Africa.html

Tullow tops boardroom pay list

Rhian Nicholson
14.09.09 12:07



Oil exploration group Tullow Oil (TLW) has the best paid boardroom in the FTSE 100 (UKX), with its 11 directors sharing more than 59 million last year.


The senior managers made most of their gains from share options after Tullow shares piled on the pounds as oil prices soared to highs of $147 a barrel last July.


However, the highest paid boss was Reckitt Benckiser's (RB-) Bart Becht who pocketed 36.8 million in pay, bonuses, perks and share incentive schemes.


Overall, The Guardian's annual boardroom pay survey revealed that full and part-time directors at the UK's biggest listed companies took home more than 1 billion between them last year despite many imposing pay freezes on staff and cutting costs elsewhere.


The FTSE 100 plummeted by around a third during the period.


The survey also revealed that the 10 most highly paid executives together earned 170 million - up from 140 million in 2007.


The average boss of a blue chip company saw their basic salary leap 10% last year to a basic salary of 791,000 to partially compensate for falls in bonuses relating to the performance of their companies.


However, bonuses, share awards and perks quickly lifted their total remuneration package into the millions. In 2008, around a quarter of FTSE 100 bosses received more than 5 million.


For less senior staff, broker ICAP (IAP) was the highest paying employer with its 4,330 staff each earning an average of 200,000. Hedge fund giant Man Group (EMG) also kept its employees in style with an average salary of 198,000 - almost double that from five years ago.


For an alternative view on ICAP, why not watch our iBall TV episode on the firm?


In contrast, staff working in the retail and leisure sectors and for mining companies received the lowest salaries.

what ho, halifax! ..... TLW has a stack more moolah in its chest, albeit that it only holds 10% of this new seemingly mega discovery

cynic as discussed in the past oil in the ground is worth nothing, a discovery of 45ft of oil at 18500ft from the surface sounds like a few expensive buckets full to us. How much is it going to cost to recover, probably a lot more than TLW's directors paid themselves last year and certainly more than they paid shareholders by way of dividend. TLW's sp is a bubble and we all know what happens to bubbles... ask West Ham supporters!

I've missed out on this...only just noticed this...so many other risers though ..having a job to keep up with them all...

Further to my previous post...haven't been in this for some time because I thought that it was a teenie weenie little bit overvalued....but the market keeps pushing it up...

truly discovered oil in the ground is worth one hell of a lot more than potential and probable

i am not saying you should buy (now), but you equally cannot ignore the fact that sp has increased 2 and perhaps more since you first voiced your view ...... even if it is right (every rise ultimately falters), that's an awful lot of profit that you could have had .... that said, almost every oil share has rocketed of late

Our argument is that TLW is grossly overvalued to say DGO. BP has amarket cap of around 100billion and produces 4million boepd for TLW

Our argument is that TLW is grossly overvalued compared to say DGO. BP has a market cap of around 100 billion and produces 4million boepd TLW with a current market cap about 9billion would have to produce around 400k boepd to come any where near justifying the current sp which should be 1.50.