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!

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.

no news is bad news as drilling looks to have started early january .... a duster won't help TLW, though i don't suppose it will harm much either, as it has plenty of success elsewhere, but i wouldn't want to be holding SOLO

I've sold out of SOLO....too risky in case of failure, it would dive to .2p or so....but remaining in AEX and of course TLW.

Tullow taking off like a shooting star would appear this is the reason - LONDON, March 2 (Reuters) - Shares in London-based explorer Tullow Oil jumped 3 percent on Tuesday on rumours that oil major BP Plc was planning a 15 pounds/share bid, dealers said.

BP and Tullow declined comment.

Tullow, which has become the largest independent oil company in Europe with a market capitalisation of $16 billion on the back of big finds in Africa, is frequently the subject of takeover rumours.

Tullow shares, which had been trading up 0.2 percent, jumped 3 percent after the rumours were reported on a news agency. The stock fell back to trade up 2.6 percent at 1,230 pence at 1517 GMT. (Reporting by Tom Bergin, editing by Will Waterman) ((+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net))

Well star ran out of shooting but rumour still there so maybe tomorrow. Suppose up 33's alright.

can someone explain why TLW has reacted favourably to the following P&A rns .....

Oil and gas company Tullow Oil says the Likonde-1 exploration well in Tanzania has encountered thick sands with hydrocarbon shows.
The well, which is now being plugged and abandoned, is the first of a two-well programme within the prospective Ruvuma delta region.

Tullow says the encouraging results will be followed up with detailed technical work before selecting the next drilling location.
Exploration director Angus McCoss said, 'Likonde-1 is an encouraging well with follow-up exploration potential. The valuable technical insights gained are now being incorporated into our regional geological model to further evaluate this promising basin in Southern Tanzania.'

cynic post 420 on AEX thread should explain.

thank you and well-noted

Nearly $85 for WTI and rising....oil and gas stocks (producer-explorers) should take off....

$85.4 for WTI.....some rises are overdue for the midcaps.

Citigroup broker note:
"Tullow has this morning announced that the Likonde-1 exploration well onshore Tanzania has encountered thick sands with hydrocarbon shows.
Tullows first well in the Ruvuma Basin, which was drilled to a TD of +3,500m, intersected two sandstone intervals with evidence of residual oil and gas. Drilling at the deepest objective was terminated due to high gas influx and the well will now be plugged and abandoned.
Forward Programme Tullow will follow-up Likonde-1 with detailed technical work as it further develops its regional geological model. The company has guided to potentially drilling a second prospect in the Ruvuma delta region in 2011.
Valuation Implications We assigned very little value to this prospect within our exploration model (0.01/sh) as the Likonde-1 prospect was high risk in a relatively unexplored basin. With little new information in this mornings press release, we believe Tullows activity in this region will remain in the shadows over 2010.
Reaction We expect a relatively muted reaction to this mornings drilling results.
With the potential of the Ruvuma Basin still unknown, we view Tullows presence in this region as non-core at this time. We expect newsflow on Tullows farm-down in Uganda and results from drilling offshore Ghana at the Dohama-1 prospect in the coming weeks."

and Tullow make a significant strike yet again in uganda ...... they may not have the dosh to take it to completion, but my goodness it makes them a very tasty company for the chinese or similar ...... shame it's not in the falklands!

Tullow Oil said its Dahoma-1 exploration well in the West Cape Three Points licence only encountered water bearing reservoirs.

Angus McCoss, Exploration Director, said: "Dahoma-1 is the first of 12 wells in our deepwater Ghana Exploration and Appraisal campaign not to encounter hydrocarbons."

"It was a high-risk well required to evaluate the upside potential of the area by exploring a long way down-dip from known oil. We now look forward to incorporating the data from this well and to pursuing the largely independent and considerable remaining prospectivity in the West Cape Three Points block which we will be drilling through 2010."

The well was drilled 11 kilometres south of Mahogany-3 to explore a down-dip satellite prospect within the southeast Jubilee area, outside of the main Jubilee Unit Area.

Starting to look like a bargain.....