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!

Worth considering the below.
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By Dmitry Zhdannikov and Henning Gloystein

LONDON/SINGAPORE, April 15 (Reuters) – Oil prices fell on Friday in thin trade as analysts said a weekend meeting of major oil exporters would do little to help to clear global oversupply quickly, even though it would provide a floor for the market.

Oil producers led by top exporters Saudi Arabia and Russia will meet in Doha, Qatar, on Sunday to discuss freezing output around current levels in an effort to contain a glut exacerbated by production that exceeds demand by about 1.5 million barrels a day.

It would be the first joint action by major OPEC and non-OPEC producers in 15 years, though Iran has refused to participate, saying that it wants to rebuild its output to levels achieved before imposition of the recently lifted economic sanctions.

"Momentum is building behind an agreement that likely excludes Iran (and potentially Libya). While there will likely be little effect on the physical market an agreement would represent an important psychological shift in setting oil prices," investment bank Jefferies said on Friday.

Brent crude futures were down 2 percent at $42.93 by 1330 GMT. U.S. West Texas Intermediate (WTI) futures were also down 2 percent, trading at $40.63, having lost as much as 3 percent earlier in the day.

Yet with discussions among producers focusing on freezing output rather than cutting it, most analysts said they had little hope for a deal that reduces the global oversupply.

The glut has pulled down crude prices by as much as 70 percent since mid-2014.

"The Doha meeting does not materially change the oil market balances," Barclays said.

"If recent supply-side fundamental support holds and the market's expectations for a credible statement and commitment are met, the meeting could help prevent prices from falling back to the low $30 range." Consultancy Petromatrix said it saw the Saudis as a G20 member pushing for a deal to freeze output because both the IMF and the U.S. Federal Reserve are growing increasingly impatient about low oil prices.

"Saudi Arabia has already frozen production at January levels and it now needs other countries to make some concessions," said Olivier Jakob, of Petromatrix.

"Otherwise it fears that it will be forced by the G20 and its international institutions to cut production to stabilise oil prices – and cutting production is something it does not want to do as Iran comes back." Energy consultancy Wood Mackenzie said that even if a deal is agreed, it does not expect a genuine freeze to occur during the remainder of 2016.

Instead, Wood Mackenzie said it expects OPEC output to rise by 0.5 million barrels per day year on year in 2016, with most of that growth coming from Iran and Iraq, both of whom have indicated plans to increase output this year.

at the close ......

PMO and TLW
interesting ....... both have traded huge volumes, 21m and 20.5m respectively and both are also nicely up, 6.5% and a more modest 2% respectively

RBC Capital Markets today reaffirms its outperform investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 290p (from 260p).

wake up you guys
despite a pretty cautious trading statement, sp is +11% today and with 15m traded - far heavier than usual

I'm well awake ,but just watched them go up over the last few weeks .

keep gazing in admiration then :-)

just sorry i sold the ones in my sipp a few weeks back

Goldman Sachs today downgrades its investment rating on Tullow Oil PLC (LON:TLW) to neutral (from buy) and cut its price target to 274.30p (from 305p).

Chart analysis: Oil and Tullow
By Alistair Strang | Wed, 4th May 2016 - 10:24
Tullow Oil

We last talked about Tullow (TLW) in public in March last year when we'd speculated about weakness to 268p, with secondary 79p if the share managed below such a level. Visually, it appears 115p was as close as the price intended to our 79p and, hopefully, this indicates some strength. Better still, the share has recently managed to better the blue line on the chart, which, from our perspective, totally trashes our argument for a ridiculous 79p bottom.

Don't get us wrong, we're not oozing confidence about price recovery, but the share has moved from "going down" to "not going down" territory. Additionally, gymnastics against Brent's price, which we cover below, are liable to wreak havoc against oil sector shares.

For now, we shall pretend confidence against Tullow unless it manages to close a session below 230p. This would be a bad thing, taking the share price below the blue line and into a position where negative market sentiment can produce enhanced weakness.

But from a chart perspective alone, closure now above 280p is going to be a pretty strong signal from upward oomph toward an initial 398p. Then things get a little awkward, as there's no doubt the market shared a fascination with this price level through 2014 and 2015.

It would be daft not to again anticipate some stutters if the price is fortunate enough to experience some proper growth. As we're taking an optimistic viewpoint, we can admit our secondary above 398p is a pretty useful 590p.

Now for the caveat. If Tullow's price performs the same shenanigans as Brent Crude, it is in grave danger of breaking below "blue" again and experiencing reversal - again - to the 200s. As a result, it's probably worth keeping an eye on the price of crude in conjunction with our report.

Brent crude revisited

When we viewed Brent on 29 April, we'd added our last paragraph simply due to the risks when a big trend is broken. We're quite serious when we warn things generally need a couple of days to define what's coming and Brent, perhaps unfortunately, has shown the benefit of experience. The product, indeed, was forced below the trend, quite accurately, rather spoiling our hopes for $49 initially with secondary $55.

Of course, our second problem is that we now need to wait a day or two to again try and figure out what the market intends. We received a semi-funny email, questioning if:

"Some bloke in London got back from the holiday weekend, saw what had happened to Brent crude and said 'nope'. Then he gapped the price back below the trend."

It would certainly explain a few things if this level of paranoia were true, but, realistically, all that happened is the price was slowed down. If any reversal actually has strength, near-term below $44.6 is supposed to find an initial $42.85 with secondary, if broken, at $41.1.

If triggered, the price must exceed $47.15 to scupper the drop potentials, so there's the stop-loss point. The bigger story comes if the drop targets are broken because, once again, Brent is in dangerous territory and $37.3 looks viable, as does the secondary at a longer term $29.4.

I feel TLW is too expensive at 230p now

Barclays Capital today reaffirms its overweight investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 300p (from 280p).

Deutsche Bank today reaffirms its hold investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 270p (from 230p).

Morgan Stanley today initiates coverage of Tullow Oil PLC (LON:TLW) with a equal weight investment rating and price target of 322p.

StockMarketWire.com
Tullow Oil (TLW) said 2016 capital expenditure guidance remains at $1 billion with further savings being offset by additional capex associated with the Jubilee turret issue, ahead of potential insurance payments and the start of a new drilling campaign in Kenya.

PRODUCTION UPDATE
In the first half of 2016, Tullow's West Africa working interest oil production averaged 51,900 bopd.

This is below previous guidance due to lower production from the Jubilee field in Ghana, following issues with the FPSO turret identified in February.

This resulted in an extended shut down period in April while new offtake procedures were implemented to enable the Jubilee field to restart in early May.

Production has gradually been ramped up since then, with gross production in June averaging around 90,000 bopd.

The Group expects to continue producing from Jubilee at similar levels through the remainder of 2016 with the exception of short periods of reduced production to commence work on the long-term turret solution.

As a result, Jubilee gross average production in the second half of 2016 is expected to be around 85,000 bopd (net: 30,200 bopd).

Tullow therefore expects average gross production for the Jubilee field in 2016 to be around 74,000 bopd (net: 26,300 bopd).

As a consequence, Tullow's West Africa oil production guidance range is revised to 62-68,000 bopd net.

Tullow however has a comprehensive package of insurances in place which includes Business Interruption insurance which covers consequent loss of production and revenue from Jubilee.

In Europe, working interest gas production for the first half of 2016 was above expectations averaging 6,800 boepd. Full year guidance has been revised to 6-7,000 boepd.

Investors don't seem too impressed with this.....down 15%.
"StockMarketWire.com
Tullow Oil confirms the launch of an offering of $300m of Convertible Bonds due 2021.

The proposed Convertible Bond Offering will further diversify Tullow Oil's sources of funding and the proceeds will be used for general corporate purposes and to fund capital investment in the Group's assets in West and East Africa.

CFO Ian Springett commented:
"The proposed Convertible Bond issue will further diversify Tullow Oil's sources of funding and give the company access to a new investor base.

"As per our most recent trading statement, our focus will continue to be on strengthening the balance sheet and deleveraging the business."

StockMarketWire.com
Tullow Oil says Tullow Oil Norge AS has completed drilling of the exploration well 16/5-6 on the Rome prospect in production licence PL776 in the Central North Sea. The well did not encounter any hydrocarbons and will now be plugged and abandoned.

The well was drilled to a total vertical depth of 2,319 metres below sea level by the semi-submersible Borgland Dolphin rig in a water depth of 98 metres.

Tullow Oil Norge AS has a 40% operated interest in licence PL776 with Concedo, Wintershall and Petoro each holding 20%.

Goldman Sachs today upgrades its investment rating on Tullow Oil PLC (LON:TLW) to buy (from neutral) and set its price target at 270.90p.

Morgan Stanley today reaffirms its equal weight investment rating on Tullow Oil PLC (LON:TLW) and cut its price target to 312p (from 322p).

Why I expect Tullow Oil (LSE:TLW) to keep collapsing! - By Motley Fool | Mon, 11th July 2016 - 07:20

Shares in Tullow Oil (LSE:TLW) have fallen 19% during the past week, and I believe fresh weakness could be just around the corner. As if Brent's slide from the $50-per-barrel marker wasn't bad enough, a disappointing set of releases during the past week has tested investor patience still further.

Tullow started the ball rolling by advising that production problems in Africa will drive regional full-year output to 62,000-68,000 barrels per day for 2016. This is a significant markdown from the previous 73,000-80,000 barrels estimate.

And it worried the market this week after launching a $300m convertible bond auction to bolster its balance sheet. This is the latest step Tullow Oil has taken to mitigate weak oil values -- the company's debt ballooned to $4.5bn as of April, up from $4bn at the start of the year.

Even though Tullow's TEN project is expected to produce maiden oil any time now, the probability of sustained crude weakness is likely to keep the company under severe pressure, in my opinion.

And a huge forward P/E rating of 78.7 times leaves plenty of scope for further share price weakness, in my opinion.

Jefferies International today reaffirms its underperform investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 175p (from 166p).

Deutsche Bank today reaffirms its hold investment rating on Tullow Oil PLC (LON:TLW) and cut its price target to 240p (from 250p).

There is plenty of support for the stock this morning with a rise of over 6% and volume despite the oil price being lower.

Has been left behind after recent bad news