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.

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

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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

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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.

the thing with TLW, as well as PMO and BUR, is that it is a considerable producer and therefore quite likely to be targetted by one of other of the giants as a cheap, easy and quick way to augment substantially its own reserves

Is there no stopping these shares? not that i want them to stop.I can see them going through the 10 mark by the end of the year, wait til they go into the ftse 100 and then anything can happen.

Nice to see TLW in the FTSE 100. Also back over 600 today and seems to be holding.

Tullow news indicates they are abandoning the latest Ghana well as non commercial and the share price rises 3%. love it !!


http://www.moneyam.com/action/news/showArticle?id=2315320

Looking at the charts with a 'simple' eye, it looks to me like another 'leg up' is ongoing. The last two were about 40-60 points each, this one (if indeed it is) would be targetting 650 before a retrace.

Only my view, no detailed charting experience or sofisticated software.

not sure whether TLW is more likley to be target or predator, but certainly one to watch and possibly or even probably to buy on a bad day

Looks like TLW is about to break out!

.

certainly performing well on another bad day

Evolution say "investors are better off taking profits (in Cairn) and switching into stocks with greater upside potential such as Tullow Oil PLC and Premier Oil PLC."

They knew the bid wouldn't be accepted.