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!

Nope, not yet. Watching & waiting, but as I mentioned before, the 930p target looks a possibility.

See your play.

Tullow Oil announces well disappointment offshore Norway
Thu 23 May 2013


Tullow Oil announces well disappointment offshore Norway LONDON (SHARECAST) - Lundin Petroleum, Tullow Oil's partner on the Carlsberg prospect in the Norwegian North Sea, said Thursday that it has plugged and abandoned the wildcat well 7/4-3 after no hydrocarbons were encountered.

Tullow Oil has a 40% stake in the well, which was targeting the Upper Triassic and Upper Cretaceous reservoirs of the Carlsberg prospect.

Lundin said: "The primary exploration target of the well was to prove petroleum in Upper Triassic reservoir rocks (the Skagerrak Formation). The Skagerrak Formation sands were not encountered.

"The second exploration target of the well was to prove petroleum in the Upper Cretaceous chalk reservoir. The reservoir was found at the predicted depth, but was water bearing with no presence of hydrocarbons."

The well is the first exploration well in PL495 and PL495B, it added.

Following the plugging and abandonment of well 7/4-3, the Maersk Guardian rig will move to the Brynhild field to commence the drilling of the development wells.

The costs of the exploration well 7/4-3 and associated license costs will most likely be expensed during the second quarter of 2013.

Tullow's share price fell 3.08% to 1,040p.

Tullow abandons exploration well offshore Cote D'Ivoire
By Benjamin Chiou

Thu 30 May 2013


Tullow abandons exploration well offshore Cote D'Ivoire LONDON (SHARECAST) - Oil giant Tullow has been forced to pull out of another one of its exploration wells, this time off the coast of Cote D'Ivoire.

The company, which has seen its stock drop nearly 18% so far in 2013 on the back of a series of disappointing exploration updates, said that its Calao-1X well encountered good quality reservoir sandstones but these were found to be water bearing.

The well was then sidetracked to target a better developed reservoir unit down-dip but these sandstones were also water bearing too. "Following completion of logging operations the well will be plugged and abandoned," Tullow said.

The well was the second one drilled on the CI-103 licence, in which operator Tullow carries a 30% interest. Anadarko Petroleum owns 55% while the Societé Nationale d'Opérations Pétrolières de Côte D'Ivoire owns 5.0% plus a 10% carried interest.

"While this is not the result we were aiming for, both the condensate and the reservoirs that we encountered have added substantially to our knowledge in this frontier area," said Exploration Director Angus McCoss.

"The appraisal of the light oil discovered down-dip in Paon-1X in 2012 will continue later this year with the drilling of the Paon-2A well. Having sold some of our equity for carries in the CI-103 licence - a decision that was taken prior to the drilling of the Calao-1X well - our stake in both the Calao-1X and Paon-2A wells has been consequently reduced."

Not invested here, for those interested -

Tullow gains green light from Ghana government
Thu 30 May 2013

Tullow gains green light from Ghana government LONDON (SHARECAST) - Tullow Oil has been granted government approval for a large development offshore Ghana.

The Tweneboa-Enyenra-Ntomme (TEN) project is expected to produce its first oil in 2016 at an anticipated production rate of 80,000 barrels of oil per day (bopd).

The TEN development is located in the Deepwater Tano Contract Area, where Tullow is operator and holds an equity interest of 47.175%.

Located 60 kilometres off the coast of Ghana and close to Tullow’s Jubilee Field, the TEN project’s development will require the drilling and completion of up to 24 development wells connected to a floating, production, storage and offloading vessel.

Tullow, which earlier on Thursday revealed it had abandoned another project offshore Cote D'Ivoire, stated that major contracts will now be finalised and awarded to develop the infrastructure and the development wells.

The group’s partners in the contract area include Kosmos Energy with 17%, Anadarko Petroleum with 17%, Petro SA’s Sabre Oil & Gas subsidiary with 3.825%, and the Ghana National Petroleum Corporation with 15%.

Tullow’s Chief Executive Officer Aidan Heavey said TEN was an important project that will give Ghana its second major offshore development.

“The Government of Ghana have shown faith in Tullow and its partners again and has set us a number of important targets around local content and supply chain.

“I have every confidence that we will meet these targets and look forward to working with the Government of Ghana and with our partners to deliver the TEN Project."

Shares in Tullow Oil were up 2.4% at 1,054p at 13:25 on Thursday.

L&G dip below 3%

Analysts at Nomura have upped their view on shares of oil exploration group Tullow Oil ahead of what they expect will be a positive trading update from the company this Wednesday.

That is particularly true, they believe, given the generally sombre outlooks typical for large-cap majors in Europe and after a 40% fall in the share price (in US dollar terms) since last February.

Then there are the upcoming 'trigger well' results expected in the next few months. In that regard the broker writes that “a six pronged campaign testing multiple geological plays suggests Tullow’s business remains extremely active and competitive.”

Nomura has raised its view on the shares of Tullow Oil to neutral from reduce, albeit while reducing its price target to 1,250p from 1,400p previously

Trading and Operational Update http://www.moneyam.com/action/news/showArticle?id=4625571

Canaccord comment today:
"Tullow announced two non-commercial well results offshore Mozambique (Cachalote, 1p/sh risked) and French Guiana (Cebus, 12p/sh risked). Cachalote-1 encountered non-commercial quantities of gas. However, this included some wet gas, indicating the potential for a liquids-rich petroleum system and providing some encouragement for future exploration in the region. The rig will move to spud a well on the Buzio prospect in the east of the licence for which we attribute 2p/sh risked, 22p/sh unrisked.

Cebus-1 encountered extensive sands in the primary and secondary targets but no hydrocarbons were observed. The rig will now move to drill a down-dip appraisal well on the Zaedyus discovery offshore French Guiana (45p/sh risked, 121p/sh unrisked, assuming 156/420mmbbls gross unrisked respectively). The partnership is looking to prove up the commercial discovery with this next well. We remain concerned that the exploration program offshore French Guiana may (sensibly) pause after the Zaedyus appraisal, with over US$1bn likely invested by the end of this program and limited commercial success to date.

We view the well results as disappointing, although the combined impact on our risked NAV is small (approx 1%), and we maintain our NAV-derived target. Tullow’s share price requires exploration success to underpin the valuation. The one area that appears to be delivering, and for which we look for positive news, is the East African exploration program (Kenya/Ethiopia). However, we believe we are already making aggressive assumptions about the exploration potential in this region in our valuation, including US$4.6bn or 333p/sh of risked value for Kenya/Ethiopia, yet we can only justify a HOLD rating."

TLW has certainly lost its magic touch of a year or so back when every spud was a sack of potatoes, but as i have these, i'll sit with them i guess

Half Year results http://www.moneyam.com/action/news/showArticle?id=4641677

initial market reaction is that the numbers were certainly no worse than expected, though on the face of it they're horrid

StockMarketWire.com
Morgan Stanley is getting excited about Tullow Oil's (LON:TLW) success in Kenya, which is fast emerging as one of the world's most exciting hydrocarbon frontiers. The discovery of a further 50 metres of net pay oil at the company's Etuko exploration well has certainly moved the needle for the group, increasing the recoverable resource by a whopping 300m barrels. However, there has been a bit of an oil rush to the country as mid-caps such as Afren (LON:AFR), Bowleven (LON:BLVN), Ophir (LON:OPHR) and Heritage (LON:HOIL) have joined the charge into Kenya. The news awaited from Tullow by small-cap investors concerns the next well in French Guyana, the last being a duster. Success in the waters off South America would be huge for Wessex Exploration (LON:WSX) and Northern Petroleum (LON:NOP), which is under new management. Sadly, Tullow's update was lacking the requisite information. Morgan Stanley reaffirmed its "overweight" recommendation on TLW, leaving its price target unchanged at 1,510 pence a share.

Ex divi wed 28th aug (4.0p)

Oil Discovery http://www.moneyam.com/action/news/showArticle?id=4663920

RBC summary note:
Tullow announced on monday that the Statoil-operated Buzio-1 exploration well, on Area 2 (TLW 25%) offshore Mozambique, did not encounter hydrocarbons. Buzio-1 was the final well in a two-well deepwater exploration campaign; the well targeted Tertiary and Upper Cretaceous fans and encountered good quality reservoir sandstones in both targets, but they proved to be water-bearing. We include just 2p/share for the high-risk prospect in our 1262p/share Tullow NAV.
Tullow’s drilling activities continue apace and this month we anticipate results from Ekales-1 (+11p/-5p) onshore Kenya and the publication by partner, Africa Oil of a CPR that we believe will include resource upgrades for the companies’ discoveries in the Lokichar Basin, and a positive outlook for exploration in the region. Tultule-1 on the South Omo Block in Ethiopia and Agete-1 on Block 13T in Kenya are due to spud shortly. The Tullow-operated Fregate-1 well offshore Mauritania and the first well on the Wisting complex in the Barents Sea, offshore Norway, both spud in late August.

Positive news http://www.moneyam.com/action/news/showArticle?id=4675376

Bought a few at 959 - have I done the right thing ?

rekirk ask cynic.

probably not :-)