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!

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.

you are quite possibly correct re BP, but DGO is a bit of an oddity in that 52% is held by ENOC so any offer for the company needs to be accepted by them, and that in itself keeps sp somewhat depressed (i hold DGO too)

I've missed out on the TLW rise but I am in HOC, POG, PFC and a few others so I can't complain.

rns today about yet another succesful major strike by TLW .... and up and away goes sp again ..... sure glad i bought some more late yesterday

Tullow Oil Says Ngassa May Be Biggest Find in Basin (Update1)

By Kari Lundgren

Sept. 17 (Bloomberg) -- Tullow Oil Plc, the U.K. explorer with the most licenses in Africa, said its Ngassa prospect in Uganda may be the largest oil discovery in the Lake Albert Rift Basin to date.

The Ngassa-2 well encountered 7 meters (23 feet) of oil pay in a 14-meter gross sand, London-based Tullow said in a statement today. Logging operations suggest the potential for a significant oil column, the company said.

The follow-up potential in the overall Ngassa closure has been substantially de-risked, Exploration Director Angus McCoss said in the statement.

Tullow rose to a record in London trading yesterday after announcing a deep-water discovery at the Venus well off Sierra Leone with partner Anadarko Petroleum Corp. West African offshore fields extending from Sierra Leone to Ghana may hold about 6 billion barrels of undiscovered oil, McCoss said after the Venus announcement.

Aside from Ghana and Uganda, Tullow is developing fields in countries including Liberia, Angola and Ivory Coast to counter a decline in production in Britain, where setbacks in North Sea operations have curbed output.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

Last Updated: September 17, 2009 02:35 EDT

Chatter from FT today:
"Tempted to lock in profits on Tullow? We think this would be wrong. While TLWs (OW) success story has been exceptional we argue that the buy case is more compelling today as Energy markets tighten and as TLW rolls out a drilling campaign that we think could double the shareprice.
While in its infancy, the transform margin play type through Ghana to Sierra Leone was substantially de-risked with the Venus discovery last week risk factors on success have moved higher to between 20-30% (previously 10-15%); we estimate a 6 well campaign could de-risk up to c.450p/sh net TLW. We raise our price target ~22% to 1500p (~30% implied upside), and, re-running our back of the envelope calculations and making some assumptions on the extension of the cretaceous fan play in West Africa, move our bull case above 20.
What to look for into Q4: Drilling of the South Grand Lahou prospect (Cote dIvoire) in Oct. will provide another valuable datapoint on Ivorian basin upside potential and could further de-risk surrounding prospects. In Ghana, the Mahogany-4 appraisal well is drilling and a result is expected end Oct./early Nov.; it could begin to de-risk an upside case of 1.8bn boe for Jubilee (P50 1.2bn boe) and be worth c.40p/sh unrisked.
In Uganda, we expect the Buffalo-Giraffe campaign to recommence in early Dec."

Digitallook:
"Nomura Securities has upgraded its net asset based valuation of Irish oil firm Tullow Oil following the oil companys recent discoveries in Sierra Leone and Uganda.

Nomura now values Tullow at 1341p per share, up from 1160p previously. In addition, we have incor porated further potential from its West African portfolio (Sierra Leone and Liberia), which could be targeted next year following the encouraging Venus well result, Nomura analyst Michael Alsford said."

Exploration and consolidation are the major value short-term drivers in the African oil exploration and production sector, says Arbuthnot.
The broker starts with recommendations on four stocks: Tullow Oil (buy), Heritage Oil (strong buy), SOCO International (strong buy) and Afren (strong buy).
Preferred picks are Afren and SOCO as they offer investors the greatest upside potential.

Chinese sniffing around...this will start rumours of a takeover bid again possibly....

"good friend" halifax is still extremely concerned that TLW may be able to get the stuff out of the ground but not thought how to move it thereafter ..... he doesn't seem to believe that TLW has ordered this big fleet of spaceship transporters!