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!

Business Financial Newswire
"Tullow Oil has announced successful drilling from the Mahogany-4 appraisal well on the Jubilee field offshore Ghana but has failed to find oil in a wildcat exploration well off the Ivory Coast.

The Mahogany-4 well intersected light oil columns in sandstone reservoirs, encountering 43 metres of net pay.

Mahogany-4 is the eastern-most well on the Jubilee field. Results confirm the field extends beyond this location.

The South Grand Lahou-1 wildcat well encountered targeted reservoir sands but found them water-bearing.

Exploration director Angus McCoss said, 'Extending the Jubilee field eastwards with the Mahogany-4 well and encountering new hydrocarbon bearing reservoirs is an excellent result and strongly supports our current interpretation of the Jubilee field resources.

'We look forward to drilling the two remaining wells in the current Jubilee appraisal programme by early next year to further refine our understanding of the upside potential.

'The South Grand Lahou-1 wildcat follows a remarkable opening run of 10 successful exploratory wells in our Equatorial Atlantic licences.

'This well found the reservoirs to be water-bearing at this location but provides critical knowledge to guide the forward programme which targets a number of Jubilee-like prospects in this exciting play fairway.' "

spaceship VLCCs or not, TLW still clearly has a lot of admirers, and sp continues to forge ahead ..... after such a heady rise over recent weeks and months, it's difficult to suggest buying at this level, but it makes one wonder whether or not someone is stake building - or is it just a damn good company with plenty of puff left in its sp?

good bounce today off 50 dma, so let's hope for further strength on the morrow to take us back through 25 dma and onwards ...... i suspect there'll be press comment o'night on their intended sale of part of their Uganda field to a 3rd party - obvious guess is the chinese

very strong and bullish trading statement issued today - go to newswatch for full text ..... it'll be interesting to see if sp weakens on the news as is often the case .... if so, and you don't already hold, then it could be a good time to reconsider

because i'm such a greedy bastard, i topped up yet again when sp blipped to 25 dma at 1230

long article in today's FT re HOIL/ENI deal that is well worth reading .... i assume it's in london FT as have only seen the international edition here

i see TLW has maintained its magic touch with yet another significant strike, so i shall be considerably miffed(!) if there is not a rebound in sp this morning

They really have the midas touch...hope it will be the same with the Tanzania exploration well !.

"Brokers are holding fire on updating their net asset valuations on Tullow Oil until they have more information on the Irish oil companys significant oil and gas find at its Tweneboa-2 exploratory appraisal well in Ghana.

Although further appraisal is needed, today's news is positive for Tullow as it highlights, yet again, the prospectivity of their acreage in Ghana which has yielded one major discovery (Jubilee) and now potentially a second (Tweneboa), said Cazenove analyst Jessica Saadat.

The broker has an outperform rating on Tullow, noting that although the shares trade at a premium to Cazenoves core net asset value (NAV) estimate of 545p, the calculation does not include any value for Tweneboa.

Analyst Phil Corbett at Tullows house broker, Royal Bank of Scotland (RBS), said that given relatively little is known about the Tweneboa structure, we believe its right to be realistic at this point and refrain from making large NAV upgrades, though Corbett adds that there is little doubt that this is a significantly positive result for Tullow.

The company has a strong track record in the exploration field which RBS thinks justifies the significant premium over risked NAV at which the companys shares currently trade."

and yet another big strike!
TLW certainly does not have the clout to develop these ugandan fields, but my goodness it does put it higher and higher in the Tasty Morsel Stakes, especilaly now it has also acquired the HOIL slice

15 plus for the sp should be a possibility if oil goes back to the upper 70's, in time....and looking at the graph overall, 20 by next year....

This is set for a strong bounce imo, assuming the brokers up their valuation following the new find at Tweneboa-2 exploratory appraisal well in Ghana.

Tullow trading statement.

Ouch! "Net debt at 31 December 2009 was approximately 720 million."
Plus there is going to be another placing......."Tullow Oil has announced a placing of around 80.4m shares with new and existing institutional investors through an accelerated book-build.
The new shares represent about 9.99% of Tullow's existing issued ordinary share capital."
Perhaps my hope of an imminent bounce is a bit premature!

It all looks just fine, provioded the price of oil is boyant.

Of course when Iraq does eventually come on steam it may cause a little distress........ (just thinking out loud)

though there are definite signs of the majors beginning to take positions there, it will still be 2/3/4 years before anything much will come from iraq ...... meanwhile, the insurance market will not touch the area with a bargepole

TLW'S chart looks somewhat precipitous at the moment.

not that good i'm afraid

We hope Uganda doesn't turn out to be TLW's nemesis.

If the new placing was at 1150, I can't see why the current chart position should be cause for concern??? We are currently at 1160p, above the 200 DMA & the placing takeup was fully subscribed. Also, the whole market is down atm & crude trading at circa $74. Imo, no cause for alarm, yet.