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!

171.50p +3.60p

second day moving well up despite the oil price lower today.
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Tullow Oil upgraded to ‘outperform’ by Credit Suisse
Tue, Sep 19, 2017, 17:01 - Peter Hamilton

Oil company’s refocusing on ‘core competencies’ leads bank to upgrade the stock

Credit Suisse has upgraded its recommendation on Tullow Oil to “outperform” from “neutral” after the company “refocused on its core competencies”.
Analyst Ilkin Karimli raised the target price of the Ireland headquartered company to £2.10 from £1.745, implying a 34 per cent increase from Monday’s closing price. Before today, Tullow had 10 “buy” recommendations, 13 “holds” and 4 “sell” recommendations.

Mr Karimli wrote that the company had “been a victim of its own success, growing from a geographically-focused explorer to a junior oil producer and becoming inefficient in the process”. However, having refocused, the company is “high-grading its exploration efforts and having a more geographically focused approach on development”, he added.

While the upgrade is positive, Mr Karimli added that a principal risk for the company could come in the form of an adverse ruling on the maritime border dispute that would prevent the resumption of development drilling at the company’s TEN project off the coast of Ghana.

Nice rise this morning ,could climb back over 2 quid .
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Tullow Oil notes ITLOS judgement in Hamburg

StockMarketWire.com

Tullow Oil noted that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg delivered its judgment with regard to the maritime boundary dispute between Ghana and Cote d'Ivoire.

The new maritime boundary as determined by the tribunal does not affect the TEN fields.

Tullow will now work with the government of Ghana to put in place the necessary permits to allow the restart of development drilling in the TEN fields.

Tullow expects to resume drilling around the end of the year which will allow production from the TEN fields to start to increase towards the FPSO design capacity of 80,000 bopd.

CEO Paul McDade commented: "Tullow looks forward to continuing to work constructively with the Governments of both Ghana and Cote d'Ivoire following the conclusion of this process.

"While the TEN fields have performed well during the period of the drilling moratorium, we can now restart work on the additional drilling planned as part of the TEN fields' plan of development and take the fields towards their full potential

Stifel comment:
"A positive outcome from the Ghana-Cote d'Ivoire ITLOS tribunal removes a key downside risk and with high-impact, seemingly low-risk exploration upcoming, we think the risks and potential reward are now well balanced. Tullow remains on a strong multiple of cash flows, our preferred metric for valuing highly leveraged companies, so we upgrade to Hold from Sell, target price unchanged."

RBC Capital Markets today upgrades its investment rating on Tullow Oil PLC (LON:TLW) to outperform (from sector performer) and raised its price target to 260p (from 200p).

the rise is on again today with another 4p
brokers positive now after the latest news
Charting also bullish as the 180 resistance is being broken

Good news around this one with a rising oil price as well.

StockMarketWire.com
Tullow Oil has acquired 90% stakes in four onshore blocks in Cote d'Ivoire.

Petroci, the national oil company of Cote d'Ivoire, holds the remaining 10%.

The four blocks - CI 518, CI519, CI301 and CI302 - cover 5,035 square kilometres and located on the coastline of Cote d'Ivoire mostly to the west of Abidjan.

Tullow believes this acreage will complement the group's existing exploration portfolio as the blocks are located in a proven petroleum system, indicated by multiple oil seeps and past production from the Eboinda Oil Sands.

If commercial discoveries are made, the maturity of Cote d'Ivoire's oil industry suggests a relatively short and low-cost path to production.

Tullow intends to initiate work immediately on these licences to allow a full tensor gradiometry (FTG) survey to start in early 2018. This early survey data will be used to assess the potential of the licenses and guide future acquisition of seismic data.

StockMarketWire.com
Tullow Oil said its Araku-1 exploration well offshore Suriname has identified the presence of gas condensate, though no significant reservoir quality rocks were encountered.

Geological insights gained from the well, in combination with 3D seismic data, have de-risked deeper plays offering future exploration potential, Tullow said.

"While we have not made a commercial discovery, we are encouraged by recovering gas condensate from the well and remain fully committed to exploration in Suriname and Guyana," exploration director Angus McCoss said.

"Tullow continues to pursue the considerable prospectivity and potential of this large licence and the wider region. We will now consider our next steps with our joint venture partners."

A little more good news around TLW today .....


Tullow Oil ups production guidance

StockMarketWire.com

Tullow Oil upgraded its annual production guidance following a strong operating performance from assets in West Africa.

Output is now expected at 85,000-to- 89,000 bopd, up from previous guidance of 78,000-to-85,000 bopd.

"The business is generating free cash flow which is enabling us to continue to reduce our debt," chief executive Paul McCade said..

"In East Africa, both our projects are making steady progress towards final investment decisions with our Kenyan business beginning the important shift from exploration and appraisal to development."

Deutsche Bank today reaffirms its buy investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 225p (from 210p).

Jefferies International today reaffirms its underperform investment rating on Tullow Oil PLC (LON:TLW) and raised its price target to 175p (from 155p).

Tullow Oil refinances $2.5b of debt

StockMarketWire.com

Tullow Oil said it has refinanced $2.5b worth of credit facilities, which have a final maturity in November, 2024.

The deals comes after a resolution of the Ghana - Cote d'Ivoire border dispute, was materially over-subscribed and extends the maturity of the group's existing credit facilities.

Tullow said it had also decided to reduce the commitments of its revolving corporate credit facility to $600 million from $800 million, ahead of a scheduled amortisation in January 2018.

StockMarketWire.com
Tullow Oil said its West African production exceeded expectations in 2017 by averaging 89,100 barrels of oil per day.

In Europe, meanwhile, working interest gas production performed in line with expectations, with full year net production averaging 5,600 boepd.

Tullow said it expected to report revenue of around $1.7bln and gross profit of around $0.8bln for 2017. It also expected to have generated $0.5bln of free cash flow, significantly exceeding a forecast at the start of the year.

Capital expenditure in 2018 was expected to total approximately $460m.

"Tullow delivered strong operational and financial performance in 2017 against the backdrop of continued industry volatility," chief executive Paul McDade said.

"Over 2018 we expect to continue this positive momentum. With our diverse low-cost assets and high-graded exploration portfolio, enhanced by recent licence additions in Cote d'Ivoire and Peru, we have a strong foundation to grow the business and further reduce our debt."

StockMarketWire.com
Tullow Oil said its annual losses narrowed on higher oil prices, though it still posted significant write-downs for the year.

The group posted a net loss for 2017 of $189m, improving from a loss in 2016 of $597m.

Revenue jumped 36% to $1.72bn.

Asset impairment charges almost tripled to $539m, though exploration write-offs fell to $143m.

Year-end net debt was $3.5bn.

'I am pleased to report that Tullow made excellent progress in 2017 as demonstrated by our substantial free cash flow generation and significantly reduced gearing,' chief executive Paul McDade said.

'Strong production and disciplined cost management has allowed us to continue to both reduce debt and invest in our high-return production assets in Ghana.'

Barclays Capital today downgrades its investment rating on Tullow Oil PLC (LON:TLW) to equal weight (from overweight) and cut its price target to 190p (from 210p).

StockMarketWire.com
Tullow Oil said it remained on track to meet its annual production guidance of 82K-to-90k barrels of oil per day.

A drilling programme was now underway in Ghana, while developments in Uganda and Kenya were on track for final investment decisions in 2018 and 2019, respectively, the company said.

Production in Ghana and across the companys non-operated portfolio delivered average first-quarter net oil production of 87,700 bopd.

Net debt had been reduced to $3.4bn at 31 March and the company stuck to its 2018 capex forecast of $460m.

RBC Capital Markets today upgrades its investment rating on Tullow Oil PLC (LON:TLW) to sector performer (from outperform) and set its price target at 230p.

High Court Judgment: Seadrill vs Tullow Ghana Ltd

3 July 2018 - Tullow Oil plc (Group) announces that a judgment in the English Commercial Court case brought against its wholly owned subsidiary Tullow Ghana Limited (Tullow) by Seadrill Ghana Operations Limited (Seadrill) has been received today. The Hon. Mr Justice Teare has ruled that Tullow was not entitled to terminate its West Leo rig contract with Seadrill on 4 December 2016 by invoking the contract's force majeure provisions and as such requires Tullow to pay Seadrill a contractual termination fee and other standby fees that accrued in the 60 days prior to termination of the contract.

These fees amount to approximately $254 million. Tullow expects to be required to pay these fees within the next 14 days with Tullow being liable for a net amount of approximately $140 million, which compares with the provision of $128 million made in the 2017 Annual Report and Accounts.

Tullow is disappointed with the decision and maintains the view that it was right to terminate the West Leo contract for force majeure. Tullow will now examine its options, including seeking leave to appeal the judgment.

As disclosed in the Group's recent trading statement, Kosmos is disputing separately, through an arbitration against Tullow with the International Chamber of Commerce, its share of the liability (c. 20%) of any costs related to the use of the West Leo rig beyond 1 October 2016. The arbitration tribunal's decision is expected shortly.

Barclays Capital today upgrades its investment rating on Tullow Oil PLC (LON:TLW) to overweight (from equal weight) and raised its price target to 285p (from 190p).

StockMarketWire.com
Tullow Oil said that it had lost a legal dispute against Kosmos Energy related to costs associated with a disputed rig-hire contract in Ghana.

A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, said Kosmos was not liable for its share costs, which amounted to $50.8m.

Tullow Oil had already lost a dispute with rig supplier Seadrill, but was hoping joint venture partner Kosmos would cover some of the costs.

The arbitration award also ruled that Tullow was due to reimburse Kosmos for some of its legal and rig demobilisation costs, Tullow said

StockMarketWire.com
Tullow Oil swung to a first-half profit and upgraded its annual production guidance, helping it to make headway reducing its debt burden.

For the six months through June, the company posted a pre-tax profit of $55m, compared to a $348m on-year loss.

Higher oil prices helped revenue rise 15% to $905m and net debt was cut to $3.08bn, giving the company a gearing ratio of 2.0 times earnings.

'The board considered carefully whether to pay an interim dividend but concluded that, for the moment, free cash flow is best used to continue to pay down debt and to invest in assets,' Tullow said.

Group production guidance for the full year was upped to between 89,000 and 95,000 barrels of oil equivalent per day.

Tullow Oil also announced that founder Aidan Heavey was standing down as chairman, to be replaced by current director Dorothy Thompson.

'Today's results are further evidence of the progress that Tullow has made in the first half of 2018,' chief executive Paul McDade said.

'With this firm financial foundation, we can concentrate on growth across our three core businesses.'

'Over the next two years, we will increase production from our current assets in West Africa, progress two large onshore developments in East Africa and step up our search for material new oil fields in Africa and South America through a multi-year exploration campaign which will initially focus on Namibia and Guyana.'

'There is much to look forward to for Tullow's shareholders, host countries and staff.'