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!

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.

certainly the placing was snapped up very easily, but the markets are vile at the moment, and that being so, they are even less rational than usual

"Oil company Tullow Oils share price got a battering after it announced a 925m placing this week, but Exane BNP Paribas remains a fan of the stock, and sees a bright side to the fund raising.

Reassuringly, the company says the proceeds will be used to fund an accelerated exploration drill-out and cover mechanically higher development expenditure in Uganda, not spiralling capex [capital expenditure] requirements, the broker said.

Exane believes the stock offers a positive risk/reward proposition. Admittedly, Tullow does not offer the cheapest exploration upside but our blue-sky scenario offers 89% upside. Moreover our core valuation and the current price imply a mere 35% chance of success, versus a track record in the 70-90% range, the broker reasons, adding that the possible sale or purchase of assets in Uganda could also be a catalyst for share price movement.

The broker has retained its outperform rating for the stock and has a price target of 1300p."

By the graph today...looks like Money Am are expecting an upward surge in TLW's sp !.

Still no news from Likonde, perhaps none of the 4 zones targeted are commercial, though I would have thought that we would have had an update by now.