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!

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;)

all looking tasty here ...... ghana production looks likely to hit 120,000 bpd by august (rather puts into perspective EOG's 300 "if your lucky"!) and probably more important, it looks as though the taxation dispute with uganda is now settled.

and yet another good strike by TLW, this time in french guiana ..... sp has shot away, and it also explains the strength in the lat few days

Might be worth keeping an eye on Wessex Petroleum (WSX) cynic as there is a direct read across from the Tullow acreage to Wessex's.

would rather be invested in a proper company!

Of course, but WSX exploration directly reflects on TLW in a small way.
"Tullow (27.5%) operates the Guyane Maritime license and is partnered by Shell (45%), Total (25%) and Northpet (2.5%), a company owned 50% by Northern Petroleum plc and 50% by Wessex Exploration."

cynic sp not looking so good........ where are those spaceships?

looking a lot better than MATD and that's for very sure!
actually, TLW have bounced very significantly in recent weeks, and this discovery in french guiana is potentially very exciting indeed

Tullow will bounce up, being brought down with EU problems, and O'Banana pussy footing in the USA.

Merrill Lynch:
Appraisal success shows Enyenra potential; NAV upped 5p
Tullow announced that its Enyenra-3 appraisal (Enyenra-Tweneboa field; Ghana; TLW 50%) hit 17m of light oil (35 degrees API) pay in good quality reservoirs. The well appears in pressure communication with the previous Owo and Enyenra-2 wells, proving the extension of the field. The success at this 6.5km step out, updip from Enyenra-2, is crucial to move the field closer to commercialisation and to remove any concern about the field becoming gassier up-dip. That said, pay is lower than the anticipated 23m and could clip somewhat the P10 upside of the field. Reflecting the success at the appraisal, we up our NAV/PO by 5p/sh to a total of 2,055p/sh. We retain our Buy rating on the shares.

Next stop Montserrado in Liberia.
The next stop on the exploration newsflow is set to be the delayed Montserrado well (22p risked; 66p unrisked) in Liberia. The mechanical problems of the rig mean that now results from this high impact well are expected in mid Oct.

Slippery Uganda closure.
The repeated delays in closing the Uganda disposal are clearly frustrating. That said, we firmly believe that getting the right fiscal structure and guarantees (the discussions appear to relate to fiscal stabilisation clauses in part of the licenses) is paramount even if that means waiting more to close the deal. Although the Uganda proceeds are key to TLWs LT funding and we see exploration and prod upside, the story is far less dependent on Uganda now particularly given the strong exploration momentum in French Guiana and Ghana and growing cashflow generation from the Jubilee field.

Excellent" results in Ghana for Tullow
By Sarah Modlock | Wed, 28/09/2011 - 09:22

Tullow Oil (TLW) said on Wednesday that it expects good news from its operations in Ghana.

The FTSE 100-listed Irish company announced that its Enyenra-3A appraisal well, in the Deepwater Tano licence offshore Ghana, has successfully encountered oil in high quality sandstone reservoirs.

"This excellent result demonstrates that we are close to declaring the Enyenra and Tweneboa development commercial. Although the ultimate extent of the fields are yet to be fully determined, confirmation of this up-dip extension and long oil column in Enyenra is very encouraging, said Angus McCoss, Tullow's exploration director.

Despite the positive news, Tullow shares dipped into the red during early trading on Wednesday.

Tullow said that pressure data indicates that the Enyenra-3A well has confirmed an up-dip extension of the Enyenra oil field and this confirms a continuous oil column of at least 365 metres and that the oil at Enyenra-3A is in static pressure communication with both the Owo-1 discovery well and the Enyenra-2A appraisal well.

Enyenra-3A was drilled to a total depth of 4,031 metres in water depths of 1,102 metres.

Tullow has a 49.95% majority share in the Deepwater Tano licence. Its partners there are Kosmos Energy and Anadarko Petroleum,both of which have stakes of 18%. Sabre Oil & Gas and the Ghana National Petroleum Corporationalso carry interests.

Elsewhere in West Africa, Tullow now expects to announce the result of the Montserrado-1 well offshore Liberia during October.

news reports suggest MP's in Uganda have accused TLW of allegedly bribing goverment ministers, oil deals suspended.

that must be the two guys who were too late to be included in the handout of party bags

cynic accusations of bribery should be taken seriously as they may have a major financial impact on TLW's deal to sell their investment in Uganda.

how naive can you be? .... the world is rife with such practices if you want to do business ..... in the philippines the police are routinely bought off for such petty things as speeding; for saudi, read the recent papers; africa runs on such

cynic you have conveniently forgotten that TLW are trying to sell their asset in Uganda for $2.9billion to CNOOC and Total.This deal should have been completed last month, accusations of bribery made in the Uganda parliament are unlikely to speed up the process.