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!

big article on TLW on back page of ST Biz section ..... not exactly a rave, but of course it does raise the question of whether or not the company is becoming ripe for a predator (now that would be very nice!)

Prudential go below 5% today.

not sure whether or not this is new news ....

Tullow Oil discovers gas deposits at well in Northern Kenya
Tullow Oil has discovered deposits of natural gas at its Paipai 1 well in northern Kenya, whose drilling began 2 months ago and is set to be completed in a month's time.
The deposits were struck at 4,100 metres, less than a kilometre to the target depth of 4,900 metres at the Pai Pai 1 well in Block 10 A. The block is half owned by Tullow, 30 per cent by Africa Oil and the remaining 20% by Afren Plc. This news was divulged by a official who did not want to be named due to the confidential nature of the process.

LONDON (SHARECAST) - Oil and gas exploration company Tullow Oil is set to release its full year results for 2012 on Wednesday.

Market forecast have pegged revenues at £1.47bn and pre-tax profits at £696.30m. Earnings per share are expected to grow 8.0% to 49.57p while the analysts anticipate dividends of 10.42p.

Ahead of the results, Tullow Oil’s shares climbed 1.54% to 1,188.00p at 15:06 as it provided an update on its offshore Ghana mining operations by Kosmos Energy.

The company acknowledged disclosures relating to the operations in association with a secondary offering for Kosmos shares.

US explorer Kosmos reported that in January: "The company relinquished the discovery area associated with the Banda discovery on the West Cape Three Points Block, as the company does not consider this discovery to be commercially viable following additional seismic evaluation and interpretation."

Investec analysts reiterated its ‘sell’ rating and a 1,000p sum of the parts derived target following the news.

“The main point of focus for us is news that the TEN development to the west of Jubilee will be smaller than we currently model,” it said about the project which includes the development of three hydrocarbon accumulations - Tweneboa, Enyenra (formerly, Owo) and Ntomme.

The three oil and gas fields are part of the Deepwater Tano licence located offshore of Ghana.

“Prior to today’s release, we modelled a TEN plateau of 100,000 barrels of oil per day [boe/d] however the Kosmos disclosures point to a 80,000 boe/d [floating production, storage and offloading] capacity for the development.”

hali will be chuckling at my expense, and i confess that TLW have disappointed badly in recent months ...... nothing that a juicy t/o bid wouldn't cure!

Might be worth buying if it gets down to £10.

love you too!

Sorry, no offense intended. Of course the opportunity exists for yourself to buy at that price also. At least your average would be lower.

i ALMOST NEVER take offense :-) .... caveat contract!

Full Year Results

2012 Full Year Results Highlights

· Financial results in line with market expectations and balance sheet substantially strengthened through debt re-financing and $2.9bn from Uganda farm-down.

· Following successful and cost-effective well remediation, the Jubilee field is now producing around 110,000 bopd; A 2013 exit rate in excess of 120,000 bopd is expected.

· Tweneboa-Enyenra-Ntomme (TEN) project Plan of Development submitted; approval expected shortly.

· Major basin-opening discovery in Kenya with the Ngamia-1 and Twiga South-1 wells; Twiga South-1 well flow-tested at a combined rate of 2,351 barrels of 37 degree API oil from two zones with the final test ongoing.

· Significant strategic portfolio management with a renewed focus on light oil including the acquisition of Norway's Spring Energy for $372m and the disposal of gas assets in Europe and Asia.

· Additional new country entries in Africa and the Atlantic margins; Guinea, Greenland, Uruguay and Mozambique.

· 40+ E&A well campaign planned for 2013; High-impact wells expected in Kenya, Ethiopia, Mauritania, Mozambique, Norway, French Guiana and Côte d'Ivoire.

figures weren't stunning, but clearly good enough for (perhaps) shorters to be squeezed by the looks of sp movement

Broker snap: Canaccord says Tullow Oil is 'not particularly attractive'
Wed 13 Feb 2013


LONDON (SHARECAST) - Analysts at Canaccord continued to view the valuation of Tullow Oil as "not particularly attractive" after the oil and gas giant posted its annual results Wednesday.

The group reported a 4.0% rise in profits before tax of $1.11bn for the year to December 31st, up from $1.07bn in the previous year.

Sales revenues increased 2.0% to of $2.34bn year-on-year.

Share rose 4.32% to 1,231.00p at 13:42 after the results.

Canaccord said it was promising news for the company following a disappointing announcement about a dry well at Sapele, offshore Ghana, and a lower than expected plateau rate at the Tweneboa-Enyenra-Ntomme (TEN) Cluster Development.

"Next important news is the Sabisa well, onshore Ethiopia, currently drilling," it said.

"This will be an important well, bracketing the potential to the north of the Kenya-Ethiopia trend. This well is being drilled in a separate basin from those drilled to date."

The broker added that Tullow trades with 39% downside to its central net asset value (producing and development assets) compared to the likes of Premier with a 22% upside.

"However, Tullow has been a big underperformer, underperforming Premier by around 23% year-to-date and we expect a bit of a bounce today with the potential for some short covering."

love the above ..... politician covering his arse comes to mind

Oil absent at Tullow Oil's Uganda exploration well
Thu 21 Feb 2013


LONDON (SHARECAST) - Mining company Tullow Oil has undertaken exploration at a well in Uganda and admitted that no hydrocarbons were found present.

The FTSE 100-listed company reported that exploration drilling had continued in the Total-operated EA-1A block to the north of Lake Albert, with the Ondyek-1 exploration well, located 16km northwest of the Nigiri-1 oil discovery.

The well, designed to test the boundary limits of the EA-1A block, was drilled to a total depth of 1,462m.

The company reported: "The well did not encounter hydrocarbons and has been plugged and abandoned."

It added that further evaluatuion was being carried out on the Lyec- discovery and said that partners were re-evaluating the remaining exploration potential of the area in light of recent well results.

A separate testing programme carried out at a project in Kenya showed a constrained combined rate of 2,812 barrels of oil per day from three reservoir zones.

The company added that two additional zones were also tested in the tight reservoir rock at the base of the well and both produced at sub-commercial rates but confirmed the presence of movable oil.

Angus McCoss, Exploration Director of Tullow Oil, said: "While it is still early days for our exploration campaign in Kenya, these flow tests results at Twiga South-1 are an important step on the way towards understanding the commercial potential of the two discoveries we have made so far.

"The Ondyek-1 well in Uganda did not encounter hydrocarbons, but has contributed much to our understanding of the limits of the EA-1A block."

.

Tullow Oil, a United Kingdom-based firm that has been conducting successful oil explorations in Kenya and Uganda says,Oil exploration in Ethiopia: “Encouraging results” The Africa Report
27th Feb
- See more at: http://www.directorstalk.com/#sthash.v7HThsrJ.dpuf

Tullow Oil (LON: TLW) Drills for Ethiopian Oil – Energy and Capital
28th Feb 5:13 pm
- See more at:http://www.directorstalk.com/#sthash.EMsQM7zF.dpuf

Tullow, ministry deny oil discovery report
2nd Mar 10:03 pm
- See more at:http://www.directorstalk.com/#sthash.QqCLWIDw.dpuf

"The rig will move to the South Lokichar Basin in Block 10BB and drill the Etuko prospect in the undrilled basin flank play. The move is expected to take 3 months."

So should be ready for the next drill in early June 2013.

Here's RBC's answer to your question on the HOIL thread cynic:
"Impact on Tullow – neutral: Tullow was required to pay $313m to Uganda on Heritage’s behalf and we would now expect this sum to be repayable to Tullow. However, Tullow has its own $473m capital gains tax dispute with Uganda over the subsequent divestment of assets to CNOOC and Total. A decision from a Tax Appeals Tribunal in Uganda is due during H2/13. Defeat in the case would require Tullow to pay a further $331m to Uganda ($142m has already been paid). The net impact is therefore an outflow of $18m (~1p/share)."