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!

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.

ah well you've never liked this stock ... as for me, it seems to have done consistently well and am delighted that i bought some more yesterday ..... right 'andsome they've done today guv

TLW continues to perform strongly even against the trend ..... i know the news from uganda is (now) pretty positive, but it's certainly not impossible that it is being targetted .... in any case, and i know friend hali fundamentally diagrees, i think this is one of the best second tier oilies and should do any holder proud either short, medium or long term

well you bunch of muppets, have any of you bought in yet?

A bit high to be buying in now, n'est-ce pas?

you may want to wait until there is momentum into new high ground, and there is certainly a good argument for following same

Interim divi 03/11, Interim statement 09/11. So personally would not trade it till after divi date, not a holder. Bit of a gamble hoping for a breakout perhaps over six days?

Chris that's only the payment of the divi - a stonking 4p (yield 0.42%).

Exactly skinny marvelous if you hold, if like me missed the boat and not a holder would you trade it now with a spread bet or cfd or wait till after divi payout when sp obviously will be lower? Then if you believe interim result will be good enough, punt that profits wont be taken and it breaks out above 52 week high or alternatively short it?

I must be honest - a dividend of 4p on a share price of 14.40 wouldn't really sway me one way or the other - especially taking into account its daily volatility (40p today). surely of more importance is the interims ?

I agree skinny and that really is my point re interim statement, sp as you point out is volatile at the best of times, 40 pips today on not great volume. So
to trade it daily is a bit too volatile for me. I'm talking about considering a punt nearer (after divi payout) the interim date based on volume then if that makes sense.

Sorry Chris - I thought you were basing your trading decision on the dividend payment date NOT the interim statement date.

On edit - and yes it does make sense :-)

LOL skinny think both of us must be bored eh.

TLW yet to release RNS confirming rumours farm down has been approved by Uganda government, cynic will be pleased if true!

you teasing little tinker you!