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!

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.'

Drilling failure in Namibia. http://www.moneyam.com/action/news/showArticle?id=6138884

UBS today reaffirms its neutral investment rating on Tullow Oil PLC (LON:TLW) and cut its price target to 200p (from 240p).

Prudential buy more https://www.moneyam.com/action/news/showArticle?id=6222625

Trading statement https://www.moneyam.com/action/news/showArticle?id=6278795

Dividend returned after return to profit https://www.moneyam.com/action/news/showArticle?id=6311410