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!

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.....

hold some already..was looking to see if 9.99 might come our direction..bit wishfull thinking i think..

TLW and PMO are my two perennial larger cap ,oily faves, though i currently hold neither - thank goodness.

TLW chart looking very sad indeed, but may be worth a little dabble at PMO at 12.00 which it is now nearing

TLW strikes yet again! ...... Investec ups target to 18.93

extract from latest RNS ...

Angus McCoss, Exploration Director, said: "Success in all five of the targeted reservoirs, encountering 73 metres of total net pay, is an excellent outcome for the Teak-1 well and a great start to our 2011 multi-well exploration campaign in the West Cape Three Points licence. The significant potential of this discovery, up-dip of Jubilee, will be appraised during 2011 and 2012 once the current drill-out campaign has been completed."

Great result.....but the problem for an investor is that the stock is fourteen pounds plus......you need big variations on the sp with TLW, PMO and RIO's......at the moment I prefer the lesser value oil stocks which in percentage terms move a lot more....

Take RRL for example.....if that rises by a penny.....even with the spread.....you will need a pound rise here just to keep up !.

i'm more than happy with the profits i have made here, though with CFD i'm only putting down 10% .... obvious caveat re not getting over-exposed .... more to the point, TLSW is a "real" company whereas RRL cannot be so described

I would buy a position in RRL Cynic .....going places....and isable as wel...l

i have one - losing money!

You can't be..... hovering above 14.25p as we speak......

sorry - wrong stock; i've got some RRR for my sins

ramp ramp for both these stocks that are performing very well in a bad market - see post 372 for charts

and Tullow does it yet again ....

Angus McCoss, Exploration Director, said:
"The discovery of oil this far down-dip in Enyenra-2A, and the confirmation of its communication with the Owo-1 oil discovery, is an exceptional result. This represents a major step forward in the appraisal of the Enyenra-Tweneboa area and is highly encouraging for our target to declare commerciality later this year. We are now looking forward to leveraging our expertise in the Jubilee play across the Atlantic through drilling the high-risk, high-impact, Zaedyus prospect in French Guiana in March."

From stockpedia:
Africa-focused oil company Tullow Oil ramped up profits in 2010, broadly in line with City expectations, as oil prices jumped by almost a third, but the shares fell today. Profit before tax soared to $152m from $33m in 2009 and rose 137% to $73m after taxes. Sales revenue was 19% better at $1.09bn.

Broker finnCap, which rates Tullow's shares as a "sell", was sceptical about the results.

"Despite an upbeat message, we believe there are few positives to take away from Tullow's full year results and that the company has delivered a disappointing financial performance. The bulls may point to an active drilling programme planned for 2011, but political risks in a number of countries operated in could see this significantly curtailed, while we also believe the materiality of the vast majority of the wells is limited. This view is backed up by the market reaction to recent positive news flow from its drilling operations in Ghana," finnCap analyst Will Arnstein said.
Keep watching cyners;)