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!

markets could easily be heading a fair bit lower today so have just banked the juicy profit from the deal of 17/3

I see a lot of fund managers closed there short positions in tullow yesterday.

i think it may be related to the rights issue becoming "paid up"

Standard Life go above 5%.

Interesting discovery maybe http://www.moneyam.com/action/news/showArticle?id=5550319

Barclays Capital today reaffirms its overweight investment rating on Tullow Oil PLC (LON:TLW) and set its price target at 220p.

TLW is at bargain basement price now. 173p.

Yes and didn't get hammered any more today despite the sharp drop in Oil ..

Advice please should I sell or hold

is oil going to continue south?
make up your own mind

I have and sold

Is 140p the next bottom or is going all the way to 118p double bottom?

oil price falling and the large debt still around does not look rosie


Oil prices hit seven-month lows on global oversupply

Oil prices fell to seven-month lows on Tuesday after news of increases in supply, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.

Benchmark Brent dropped $1.06 to a low of $45.85 a barrel, its weakest since Nov. 18, just before OPEC and other producers agreed to cut output by 1.8 million barrels per day (bpd) for six months from January.

Brent was trading around $46.11, down 80 cents, by 1030 GMT.

Downhill ski slope chart, over 5 Years

KEEP an EYE

TLW 150.45p

On the bounce as most oils as oil price is rising from lows , and as the stock has been down over 30% recently. Some support around the 142p.

Nymex oil reaching $44 and TLW moving over 150p

needs to break 151p and then all the way up, has been resistance since yesterday

Did break 151p

The 151p resistance has been support now on breaking it earlier

it managed 152p twice

UT @ 151.70p
1,248,005

If the Oil price rebounds this will fly back up , however that depends on the oil price .


26 Jun Jefferies... 250.00 Buy
26 Jun Jefferies... 252.00 Buy
23 Jun RBC Capital... 200.00 Sector Performer
22 Jun Barclays... 210.00 Overweight
21 Jun Macquarie 243.00 Outperform

StockMarketWire.com
Tullow Oil said it continues to make good progress despite tough market conditions.

"Our recent Rights Issue and free cash flow from our low cost, producing assets have resulted in a significant reduction in our debt and provided the Group with greater financial and operational flexibility," said CEO Paul McDade.

"I have reviewed our medium-term plans and remain satisfied that we are making the right investment decisions with regard to our producing, development and exploration portfolio.

"Financial discipline and efficient capital allocation will be a key focus of my tenure as CEO as we seek to deleverage the Company and return to growth even at low oil prices."

Tullow's first-half 2017 West Africa oil production has performed in line with guidance, and was expected to average 81,400 bopd including production-equivalent payments received under Tullow's Business Interruption insurance policy for the Jubilee field.

In Europe, half year net production is expected to average 5600 boepd.

West Africa working interest oil production FY guidance of 78,000-85,000 bopd for 2017, including production-equivalent insurance payments, remains unchanged.

Europe FY gas production guidance for 2017 was now expected to average between 5500 and 6000 boepd.

Tullow pays down debt, raises profit in first half - Wednesday, 28 Jun 2017 09:44

Exploration company Tullow Oil reduced debt in the first half of the year and reported a rise in gross profit under new CEO Paul McDade.

But a recent drop in oil prices means the company's bottom line remains under threat.

Africa-focused Tullow has been under pressure to lower its mounting debt pile, racked up as it borrowed money to pay for the 2016 start-up of its giant TEN oilfields off Ghana, and to rein in spending elsewhere amid weak oil prices.

The company today reported a 17% fall in net debt to $3.8 billion in the second quarter, a level it had targeted by the end of the year.

The company used proceeds from a surprise $750m cash call made in March to reduce borrowings.

Tullow also reported a year-on-year increase in gross profit to $300m, up from $200m a year ago, as it benefited from rising production and an insurance payment to cover lost output during a shutdown.

The company also cut its annual capital expenditure budget by another $100m to $400m as it expects to have to spend less this year.

However, as oil prices have fallen around 15% in just four weeks, Tullow's share price has fallen by nearly 30% over the same period and bearish price expectations mean analysts are expecting further impact on Tullow's valuation.

Tullow reported a $600m net pre-tax impairment charge on the back of weak prices in the first half.

As an exploration company, Tullow continues to drill for fresh resources and is focusing much of its exploration campaign on offshore Guyana and Suriname, a region where oil major Exxon Mobil and its partners earlier this month sanctioned a $4.4 billion project.

"The prospect we are drilling is of the scale of the Greater Jubilee discovery in Ghana, it's a massive prospect," CEO McDade told Reuters.

He said explorations costs continued to fall and that the well Tullow is drilling off Suriname is costing around $60m less than the company would have paid a few years ago.

Back above the 151p resistance

With heavy ups and downs for the last 3 days, SP is back above the important 151p

Yesterday's after hours drop on the oil price did not help this morning, but now the POO is also recovering

5 days chart