Tullow Oil plc is one of the largest independent oil and gas, exploration and production companies in Europe. Tullow Oil produces over 56,000 boepd, with a primary focus on UK Gas and West African Oil, underpinned by development projects in the UK, Africa and South Asia.

            Red = 25 day moving average.           Green = 200 day moving average.

Latest Kingfisher -1 report.

......Kingfisher-1A well has been successfully cased to 2,502 metres and drilled to a depth of 2,962 metres.

New drilling in the deeper section has encountered three additional potential
oil-bearing zones totalling approximately 40 metres between 2,260 and 2,370
metres, evidenced by wireline logging and formation pressure testing. Planned
testing of these zones will follow completion of drilling, to a target depth of
between 3,000 and 4,000 metres, which it is estimated will take up to a further
45 days. Test equipment has remained on site in readiness for the testing..........."

now fingers crossed that sp can hold or even improve on this level

cynic is the crossing of the lines, if it happens, called a golden cross?

Morgan Stanley (NYSE: MS - news) has resumed coverage of Tullow Oil (Dublin: TQW.IR - news) , appending an overweight recommendation and a 450p target.

and

http://www.hemscott.com/news/latest-news/item.do?newsId=38534446586491

Tullow Oil shares were also in fine fettle, adding 22 pence to 398 on news it had found hydrocarbons at the Kingfisher-1A well...

In response, Merrill Lynch reiterated its 'buy' advice on the UK oil group and said it has increased its net asset value (NAV) by a conservative 32 pence a share to 428 to reflect this news, while recognising a further material Ugandan NAV increase is likely in the coming months as Tullow conducts further appraisal work on its five discoveries.

The broker said it believes this work will likely both materially increase existing Ugandan reserve estimates and further de-risk the company's large inventory of un-drilled Lake Albertine leads and prospects.

The broker added it has raised its price target on Tullow to 470 pence.

not in this instance .... golden cross is when both 50 and 200 dma (typically) are on upward trend ..... whoops .... will post chart with 50+ 200 .... above is 25 + 200.

here you are .... comment is still the same ..... both dma's are tracking pretty neutral ..... but i like the fact that rsi is also still very neutral

thank you

Tullow upgraded to "buy"

Friday, February 16, 2007
Goodbody Stockbrokers

LONDON, February 16 (newratings.com) - Analyst Gerry Hennigan of Goodbody Stockbrokers upgrades Tullow (TLW.ISE) from "add" to "buy." The target price has been raised from 425p to 460p.

In a research note published this morning, the analyst mentions that the companys FY06 pre-close statement indicates that earnings are likely to be 12% higher than was earlier expected. Tullows FY07 total NAV estimate has been raised by 11%, the analyst says. The Hardman deal has lead to an increase in the companys exploration portfolio.

Tullow Oil PLC
01 March 2007

News release

Tullow Oil Plc - Kingfisher-1 Well Test Results


1 March 2007 - Heritage Oil, the operator of the Kingfisher-1 exploration well
in Uganda, in which Tullow Oil plc ('Tullow') is a 50% partner, today issued the
following press release:


Calgary, Alberta, March 1, 2007 - Heritage Oil Corporation (TSX: HOC) today
announced final results from the successful testing of all three intervals in
the deeper horizon of the Kingfisher-1A well in Block 3A, Uganda. The three
intervals tested, from between 2,260m to 2,367m, had a total net productive
thickness of 44 metres and produced at a cumulative maximum flow rate of 9,773
bopd. Additionally, the test of the shallower interval reported in November 2006
produced at a rate of 4,120 bopd, resulting in an overall cumulative maximum
flow rate of 13,893 bopd from the Kingfisher well. The tests may be summarised
as follows:

Depth Interval thickness Production Oil quality Flowing well head
pressure
(metres) (metres) (bopd) (API) (psig)
Deeper intervals
2,344 21 2,965 32 240
2,290 12 2,254 31 157
2,260 11 4,554 32 360
44 9,773
Shallower interval*
1,783 10 4,120 30 221
Total 54 13,893



* Test undertaken in November 2006


The oil is good quality light (between 30degrees and 32degrees API) and sweet
with a low gas-oil ratio and some associated wax. All of the above production
flow rates were conducted through a one inch choke. The reservoirs are
sandstones which have high permeability up to 2,300 milliDarcies.



The Kingfisher prospect is a very large structural high that is expressed at
surface on the bed of Lake Albert. Seismic data indicates an areal extent of up
to 70 square kilometres for the Kingfisher prospect. This first exploration well
only investigated a limited part of this large structure and did not reach the
deepest objectives.



Heritage is operator of and holds a 50% interest in Blocks 3A and 1 in Uganda,
and has a 39.5% interest in Blocks 1 and 2 in the Democratic Republic of Congo.
The total gross size of these holdings is in excess of 12,000 square kilometres
and they occupy a very substantial part of the Albert Basin. Heritage's partner
in these blocks is Tullow Oil. A map of the licenses, and the potential targets
in Block 3A, is available on Heritage's website (www.heritageoilcorp.com).



Looking forward to future Uganda work programs, Heritage has contracted to
acquire two seismic surveys this year; a circa 325 square kilometre 3D program
over the Kingfisher and Pelican structures in Block 3A and a circa 500 kilometre
2D survey in Block 1. Further drilling of the Kingfisher prospect will commence
following the acquisition and interpretation of the 3D seismic survey. Efforts
are currently being made to identify and secure a higher capacity rig capable of
deeper drilling in order to explore the deepest objectives not penetrated by the
Kingfisher well. In addition, initial plans are being developed to drill the
offshore Pelican prospect next year.



Tony Buckingham, Heritage's CEO stated 'The cumulative flow rate of 13,893 bopd
from the Kingfisher well has surpassed our expectations. The test results
indicate the outstanding potential of the Kingfisher discovery; substantially
lowers the exploration risk of drilling other multiple targets in our licenses;
and is another step closer to future production and commercial viability.
Heritage is accelerating the work program to maximise the potential of what
could be a world-class petroleum basin. All five wells drilled in the Albert
Basin in the last 15 months have been oil discoveries, which we consider
exceptional for a virgin onshore hydrocarbon basin and Kingfisher is the second
well that has produced over 12,000 bopd under test. This is a very exciting time
for Heritage, as these licenses could transform this Company.'

http://www.investegate.co.uk/Article.aspx?id=200703010702211034S

Time to fill your boots imo.

Tullow factbook new issue

i like TLW as a company, but until sp starts behaving shall not be back in .... as i mentioned elsewhere, the only thing of interest is whether or not sp is rising or falling or likely to move in a given direction .... at the moment TLW has stagnated

d'accord ..Not unlike fellow midcap JKX,.l like TLW and have traded it several times but my interpretation of its current chart shows a stock softening a little despite 10, 50 and 200 day EMA suggesting a price of around 360/365 at best..... As for HDY it gets the nod .And my money !! . lt bounced between 290 and 320 for what seemed forever ;but methinks it has overcome that hurdle and will now come of age . Has high quality proven acreage @+ J

Shit ! i apologise . Confused with ticker use i believed posters were reffering to Hardys and not T/O target Hardmans { HNR } .......l beg your pardon @+ J ,,,,,,,,OT l hope TLW will keep the market as well informed as HNR did with thier daily RNS s reg. drilling activity ....Bonne chance !

cynic and TFC, your comments are welcome and I agree.

The draw for me is Uganda.

Well getting tempted to get some for my sons education fund. comments on the latest developments would be welcome. Also the imminent inclusion to the ftse 100 and subsequent tracker fund effect??

regards

Hello Square.

Good to see you are looking in the right places.

Tullow has the potantial to triple bag within the next 3 years IMO maybe more.

Ghana is just the start and I think the oil discovery is the tip of the iceberg.

Buy asap.

Uganda is looking like another monster oil province.

Hsve a look at the presenation from Heritage which I have attached.

http://www.heritageoilcorp.com/press/HOC_Presentation_06_2007.pdf
Particlarly look at slide 17 and Block 1.

3 more Kingfishers if the leads pan out.

Also recall that block 1 is immediately south of block 5 which is 100% owned by Tower, TRP.

It's game on and make sure you have a seat at the table before the cards are dealt .

Morning

have a look at the tax terms

may be of intrest first time I have seen the psa terms and conditions

Regards

Is there some un-certainity over oil fields in Uganda? local Uganda news thread -- http://www.monitor.co.ug/news/news08042.php

--------------------------------------------------------------------

Congolese troops killed oil worker - UPDF
FRANK NYAKAIRU & AUSI BARYASIIMA
KAMPALA/HOIMA

Uganda has accused Congolese government troops of attacking Heritage Oil installations on Lake Albert, an act that could harm relations between the two countries.

The UPDF said yesterday that Congolese soldiers attacked a floating barge killing one oil worker and paralysing operations of Heritage Oil and Tullow Oil companies prospecting for oil in the area.

[Between] 1 a.m. and 3 a.m. this morning, troops of the Congolese government attacked a barge carrying oil workers on Lake Albert; they killed one oil worker and this is the second time they are attacking Ugandan soil, said Lt. Tabaro Kiconco, a spokesman for the UPDFs 2nd Division based in western Uganda.

A barge is a long boat with a flat bottom, used for carrying heavy loads on rivers or canals. The victim of the attack was a chief oil surveyor only identified as Carl from Australia.
The first attack, the UPDF says, was on Sunday.

The latest attack, which occurred about 100km north of the Bundibugyo District shores, elicited a fire exchange involving private guards and some UPDF soldiers. Congolese authorities have already confirmed that they lost a soldier in that attack, Lt. Kiconco said.

State Minister for Defence Ruth Nankabirwa described the incident as a worrisome development and we are already in touch with Congolese authorities over this attack.
As we went to press, Brig. Hudson Mukasa, the 2nd Division commander, was just arriving in the area to assess the situation.

On the other side of the shores, in Hoima District, the attack has sent fear amongst the lakeside communities. The skirmish is likely to sour relations again between Uganda and the DR Congo. Uganda invaded the DR Congo in 1998 in a bid to fight the rebels of the Allied Democratic Forces, but instead took part in a five-year civil war the dragged in six more countries killing estimated two million Congolese and imparing relations between the two neighbours.

Those relations had been improving over the past three years.
In Kampala, the Foreign Ministry summoned the Congolese charge dAffaires to protest the attack.

It was not possible to get a comment by press time from the Congolese authorities.
Over the last three days we have noticed unusual incidents at out border with Congo, said Maj. Felix Kulayigye, the defence and army spokesman. Just on Sunday, Congolese forces kidnapped four of our soldiers and they are still holding them in Bunia.

The UPDF has since dispatched its marine forces to contain the situation. Junior Minerals and Energy Minister Kamanda Bataringaya asked the government to beef up security in areas with oil deposits.

We need security beefed up both on water and shores to prevent any such attacks from happening again, he said. Oil is Ugandas latest mineral discovery and the country is banking on it to turn its fortunes around.

Heritage Oil is a Canadian-based company with oil exploration projects in both Uganda and the DR Congo. Tullow is an Irish company.

Some gd news 2 come ... or is this part of the original reserve ?

http://www.monitor.co.ug/news/news08094.php

------------------------

More oil found in Mputa 3 well, says Migereko
AGNESS NANDUTU
PARLIAMENT
MORE oil and gas have been discovered in Mputa-3 exploration well in Kaiso-Tonya area in Hoima District, Energy and Mineral Development Minister Daudi Migereko has said.

Mr Migereko told the Natural Resources Committee of Parliament yesterday that the well, which was discovered on Tuesday, is the sixth discovered by Tullow Oil Company.
Tullow Oil, however, has not issued any statement regarding any more oil discoveries as the company customarily does.

The company is listed on the stock exchange and is legally bound to publicly disclose any development in its exploration and production activities immediately they happen. However, a source in the Ministry of Energy, who is familiar with the ongoing petroleum exploration in Western Uganda, and who talked on condition of anonymity, said he was not aware of more discoveries.

The source said Mputa-3 is an appraisal well - one that is used to confirm the extent of the oil deposits - was discovered earlier. Currently, about five oil wells have been confirmed by both Tullow and Heritage Oil to have viable deposits of petroleum. Combined, Uganda already has a confirmed production capacity of above 25,000 barrels of oil per day.

The minister, who was appearing before the committee to defend his ministry's 2007/8 budgetary estimates, said the tests are still going on to ascertain the amount of barrels to be extracted daily.
MPs on the committee, chaired by Emmanuel Dombo (Bunyole), were concerned about the progress of the exploration after one of the workers was killed. Gunmen attacked a barge operated by Heritage oil on Lake Albert on Friday morning, killing a British contractor Carl Nefdt.

Mr Migereko said the government is in talks with the Government of Congo to see that the oil exploration goes on without further interruptions.
The MPs were also concerned about how the government plans to undertake the exploration.

Mr Migereko said the government is prepared for the oil exploration operations.
"The scientists that have been trained were able to effectively negotiate Production Sharing Agreements and monitor operations of oil companies in the field," he said.

He said the Ministry, with support from the Norwegian and Indian governments, has embarked on training more staff to monitor the exploration activities.

He, however said there is need to slow down on licensing until the structure of the department of Petroleum exploration and production has been expanded.
On when the law on Petroleum would be presented to Parliament, Mr Migereko said the draft policy is expected in Cabinet this month. He said the law could be ready for Parliament's consideration in December.

He also told MPs that the four licences that have been out since 2004 have paid a cumulative total of $900,000 in signature bonuses

Oh dear - is it time to sell???
OUTLOOK Tullow H1 profit to fall on lower gas prices; market eyes Africa update
AFXU

LONDON (Thomson Financial) - Mid-cap oil and gas producer Tullow Oil PLC is set to report a 47 pct drop in first half net profit Tuesday as higher production failed to offset lower UK gas prices.

Consensus estimates provided by the company expect net profit of 51 mln stg, down from 95.4 mln stg last time, on sales down 12 pct to 273 mln stg.

UBS said the decline comes as an 11 pct growth in working interest production is more than offset by the 55 pct decline in UK gas realisations.

It added that Tullow's interest charge has also more than doubled as a result of the debt raised for its acquisition of Hardman Resources last year.

However Evolution Securities believes the market is more likely to be interested in updates on Tullow's exploration activities in Africa.

Last week the company announced back to back drilling updates for oil projects in Ghana and Uganda, both of which were positive.

UBS is expecting an update on the progress of Tullow's appraisal wells at the Kudu prospect in Namibia and the third Mputa appraisal well in Uganda.

The company has already downgraded its full year production targets in July to 72,000-75,000 barrels of oil equivalent per day, reflecting a re-allocation of capital away from UK production to pursue high impact exploration opportunities.