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!

cynic the sp certainly needed a lift, can't see the oil price going up in fact more likely to fall.

Take over talk again
Statoil said to be interested
Tullow could be bought out at up to £14 per share
Tullow thought to be now oversold because of some poor recent drilling results
Tullow still finding more oil in Africa and adding more resources annually
Should be valued much higher than present five year lows

excitement looks to be merely the issue of a production MOU by Ugandan gov't

for all that, traffic remains exceptionally heavy

Fregate wildcat well in Mauritania currently drilling and expected to announce result soon. Market expecting a duster, so anything commercial and the sp will reflect that.....bl**dy quickly!

cynic results tomorrow!

not holding my breath i must confess :-) or do i mean :-(

cynic you are right to keep breathing, profits down 72% somewhat less than scintillating.

though interestingly ....

Tullow reported 2013 operating profit of $381 million, a 68 percent fall on the year before but ahead of a consensus forecast of $349.7 million

Look beyond todays figures -
Revenues up, Gross profit up,
The reduction should be non reoccurring as relates to drilling provision write downs
and, is it none reoccurring capital profits. I think it should still bounce back ??

Your truly - Optimistic

rek the problem with these exploration oilies is the profit generally ends up in the ground or sea and not in the shareholders bank account. the only winners are the oil service companies, we wonder who owns them?

sp finished sub £8 @792p not looking too healthy.

to have and to hold, from this day forth :-)

I do - we are now married - you may kiss something .........

Bought 6000 at 748 p at 4.24 pm today, probably the cheapest buy for about six years.

At closing auction ( 4.34 pm ) sales of over 1,000,000 went through at 749 p
I hope some people are closing off large long positions -----
or otherwise I hope they do not know something I do not ????????

I hope to sell for 10 p or more profit over this week ?????????????

correction - cheapest buy for five years, not six years and
closing auction sale went through at 748.50 p

May God bless me this week -

Getting warmer now in Benidorm now, but I have still not hit the sea waters as yet.
Where are you off to this year - Mr Cynic

biz - spain, dubai, chicago
hol - provence and around moulins cycling

Lengthy UBS note out today:
"The investment case for Tullow shares has clearly changed. Less evident for the time being is the high impact offshore explorer. In its place is a different animal, with greater leverage to development risk but with significant onshore exploration upside. The reasons for the change lie we believe in available opportunity set, a change in the competitive environment and perhaps some reduced risk tolerance after two years of high profile dry holes.
Positively, the development portfolio of Tullow is high quality and it is affordable. While Tullow strategy emphasises value realisation it isn’t forced to sell if current market conditions preclude realising full value. And although the drilling portfolio is arguably lower risk it actually still has some big offshore wildcats and more importantly offers the upside of major basin-opening derisking upside in Kenya and Ethiopia, the potential value of which is at least on a par with a big deepwater discovery (£1-2/share).
The share price performance clearly reflects some of the exploration disappointment and arguably a reduced emphasis among institutional investors on the E&P sub sector as a whole. But we think with the share price having approximately halved in 2 years, even taking a more conservative view of valuation and the likely share price relationship to that valuation still sees an investment opportunity skewed to the upside. This is a well-financed company, with a proven development track-record, a strong asset portfolio, material exploration upside, decent downside protection acquirable at an attractive price while the cycle is not currently in its favour.
We have reduced the target price to 900p from 925p set at a 15% discount to a risked NAV of 1,057p. This represents 20% share price upside from current levels.
Upside scenario
From an operational perspective there are a significant number of wells this year. Just the process of drilling the 12 month well programme targets ~1.2bn boe. We see potentially £1-2/share additional NAV from any successful new basin openers in Kenya/Ethiopia. Any large disposal at or around NAV would close the 40% upside to NAV in the shares. Historically, too, UK E&P M&A has been done at ~40% to the share price. From a macro perspective a $10/% change in our long term oil price forecast from $92/bbl to $102/bbl would see risked NAV increase by 9% (assuming normalised returns on incremental projects). Near term earnings would rise by 35%.
Downside scenario
Weak outcomes to the exploration campaign could well see the shares de-rate further in the way that some of the dry holes impacted Tullow in 2012 and 2013. The downside in the shares might be to a commercial plus contingent NAV which is ~575p. A one delay to any of the larger projects (TEN, Jubilee FF, Uganda) would each have an 8p impact to NAV. From a macro perspective a $10/% change in oil price impacts NAV by 9%. It would also see current debt capacity reached by 2017.

What price is TLW worth now ? Where is the near bottom ? Who knows ?

Did it not bounce back last time on false takeover rumours ? I think so.

Do we need some up to date Broker report on this ?

Any comments, as could now be looking interesting ?