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!

RBC Capital Markets today upgrades its investment rating on Tullow Oil PLC (LON:TLW) to outperform (from sector performer) and cut its price target to 260p (from 400p).

Barclays Capital today reaffirms its overweight investment rating on Tullow Oil PLC (LON:TLW) and cut its price target to 300p (from 330p).

Same as PMO , i wouldn't touch these small oilers at the moment ..

Market cap of £1,265m I wouldn't call TLW small, but I agree they are not a good investment at mo.

Still think they will fall to 100p.

so have you gone short to back mouth with money?
if so, i hope it was at a much higher price than currently

Trading statement http://www.moneyam.com/action/news/showArticle?id=5191833

A new low.

Irish listing notice http://www.moneyam.com/action/news/showArticle?id=5204983

9.2% declared short interest doesn't bode well for the short term.

StockMarketWire.com
Tullow Oil has narrowed its FY pretax loss from continuing activities to USD1.3bn, from a loss of USD2.0bn. Sales revenue totalled USD1.6bn, from USD2.2bn. It recommended that no dividend be paid.

CEO Aidan Heavey said:
"Today's results demonstrate that Tullow adjusted well to low oil prices in 2015. We secured current and future cash flow through good operational delivery in West Africa, continued to build our resource base in East Africa, significantly cut costs across the Group and benefitted from our strong hedging position.

"Our challenge in 2016 is to be equally robust in responding to the uncertainties that remain in the sector.

"In the year ahead, we have three key priorities: ensuring continued low cost production from West Africa - including the start-up of production from TEN between July and August 2016; driving further reductions in operating costs and capital expenditure; and focusing on deleveraging the balance sheet through free cash flow generation and strategic portfolio management.

"As we look ahead, we have a portfolio of world class, low cost oil assets which will produce around 100,000 bopd in 2017 and a major position in one of the world's newest, low cost, oil provinces in East Africa, both enabling us to create substantial value."

HIGHLIGHTS:
* Revenues down 27% on previous year; write-offs and impairment charges also impacted by the oil price decline, resulting in a loss after tax of $1.0 billion. Strong operating cash flow generation of $1.0 billion from stable production.

* Year-end 2015 net debt of $4.0 billion with significant facility headroom and free cash of $1.9 billion. RBL and RCF capacity increased by $450 million in March 2015; banking discussions with regard to March 2016 re-determination have begun.

* Mark-to-market value of oil hedges at 31 January 2016 of $668 million with 52% of 2016 entitlement oil production hedged at average floor price of around $75/bbl on a pre-tax basis (64% hedged on a post-tax basis); material 2017 hedging in place.

* Major Simplification Project completed resulting in improved organisational structure, efficient processes and reduced headcount of 37%; on track to deliver cash savings of around $500 million over three year period.

* Low cost per barrel oil production at Jubilee and the West Africa non-operated portfolio with 2015 opex at $10.0/bbl and $15.0/bbl respectively; cost savings and synergies from Jubilee and TEN in Ghana to achieve around $8/bbl opex in 2018.

* 2015 capex of $1.7 billion; $1.1 billion forecast for 2016 with work ongoing to potentially reduce to $0.9 billion; ability to reduce Group annual capex to c.$0.3 billion from 2017 onwards if the low oil price persists.

* West Africa working interest oil production averaged 66,600 bopd in 2015; production guidance in 2016 for the region is 73-80,000 bopd. TEN Project over 85% complete and on track and on budget for first oil between July and August 2016.

* Successful Kenya appraisal programme underpins estimated gross recoverable resource guidance of 600mmbo.

StockMarketWire.com
Tullow Oil has informed the Government of Ghana and its Partners of a change to operating procedures at the Jubilee field FPSO.

Following a recent inspection of the turret area of the Jubilee Floating Production Storage and Offtake vessel (FPSO), by SOFEC, the original turret manufacturer, a potential issue was identified with the turret bearing.

As a precautionary measure, additional operating procedures to monitor the turret bearing and reduce the degree of rotation of the vessel are being put in place.

SOFEC will now undertake further offshore examinations and Tullow will work with SOFEC to determine what further measures will be required. Oil production and gas export is continuing as normal.

Barclays comment today:
What’s a turret? An external turret (like the one on the Jubilee FPSO) is attached to the end of the vessel and moored (anchored) to the seabed. It has bearings that enable the vessel to rotate 360 degrees around the static turret. This allows the FPSO to be ideally positioned in response to weather conditions and water currents.
Our view: Tullow has disclosed a potential issue with the Jubilee FPSO turret bearing, a move we believe should avoid incomplete reporting of the operational changes in the Ghanaian media. The key message is that production continues as normal, but the existence of the issue does raise a new known unknown within the Tullow investment case. The Jubilee field accounts for 44% of our 278p/share Tangible NAV. We continue to rate the stock Overweight with a 280p price target.
Issue: A recent inspection of the Jubilee FPSO turret identified a potential issue with the turret bearing. As a precautionary measure, monitoring of the turret bearings has increased while the degree of vessel rotation is being reduced using tug boats. SOFEC, the turret manufacturer is undertaking further offshore examinations and will work with Tullow to determine any further measures required. SOFEC is also the manufacturer of the external turret installed on the FPSO to be used for Tullow’s TEN development.
Impact: Production from Jubilee is not affected, with the field accounting for 45% of our 2016E net production forecast for the company. We believe the precautionary measures should only marginally impact operating costs. Tullow has FPSO insurance and production interruption insurance, limiting the potential for any future remedial activity to materially impact Tullow’s financial position.

If the bottom of the oil price has been reached, some of these oilers might be worth watching, though presumably their next set of figures are going to be dire, due to the low oil price. Just depends on how forward looking the market is, imo.

RBC note:
"Ahead of next week’s maintenance shut-in, and a change in offloading procedure to help address issues associated with offloading without the ability to weathervane the FPSO, Tullow as operator of the Jubilee field has declared force majeure on two crude cargoes, Reuters reported yesterday. This two-week shut-in is reflected in the participants’ FY16 production guidance of ~100,000b/d (gross). Given the logistics involved in a material work-over campaign, we do not expect the issues associated with the turret system to be resolved during this shut-in. Assuming an unscheduled maintenance shut-in later this year, we would note that Tullow as operator has hull and machinery insurance for the joint venture while the individual participants have their own loss of production insurance."

StockMarketWire.com
Tullow Oil said the Cheptuket-1 well in Block 12A, Northern Kenya, has encountered good oil shows, seen in cuttings and rotary sidewall cores, across an interval of over 700 metres.

Cheptuket-1 is the first well to test the Kerio Valley Basin and was drilled by the PR Marriott Rig-46 to a final depth of 3,083 metres.

The objective of the well was to establish a working petroleum system and test a structural closure in the south-western part of the basin.

The strong oil shows encountered in Cheptuket-1 indicate the presence of an active petroleum system with significant oil generation.

Post-well analysis is in progress ahead of defining the future exploration programme in the basin. As previously advised, the PR Marriott Rig-46 will now be demobilised.

On the back of the encouraging Cheptuket-1 and successful Etom-2 results further exploration activities are being evaluated.

Tullow operates Block 12A with 40% equity and is partnered by Delonex Energy with 40% and Africa Oil Corporation with 20%.

Liberum summary:
"Tullow Oil has announced that the Cheptuket-1 well in Block 12A, Northern Kenya, (Tullow 40%) has encountered good oil shows, seen in cuttings and rotary sidewall cores, across an interval of over 700 metres.

This is the most significant well result to date in Kenya outside the South Lokichar basin. Cheptuket-1 is the first well to test the Kerio Valley Basin. Encountering strong oil shows across a large interval is encouraging. Tullow is already working on follow-up exploration plans for the Kerio Valley Basin.

It appears that Cheptuket is not commercial on a standalone basis. So no change to our 170p valuation or numbers. Hold".

Has been going side ways for some days, compare with the rest of oil stocks rising
Want to see the main reason on the chart.
Back in mid February I did managed a 12% gain 170p buy to 192p sell, in just over 2 weeks, now could be time to get some again @ 198.70p

Got some at 200.02p, as I realised that the share price is ready to move forward, on looking at the Indicators all rising
at this point and MACD ready to cross over "0" and divergence, much similar as back end of February
The 50MA is rising fast and with time will cross over 200MA, creating a Golden Cross. Also to note share price moving over 200MA.

Was is well timed?

a GAP up at the start of the day and already to 214.30p +11.40p (+5.64%) on just 1 hour of trading