Market's view on Tullow Oil
Published on April 2024
- Concerns over a damaged oil tanker in a missile strike approximately 15 nautical miles southwest of Mocha, Yemen.
- Observations on a potentially large limit buy order at approximately 36.7p, suggesting confidence in the current stock price with expectations of a positive week ahead.
- Mention of a significant purchase of 921975 shares at .367, indicating a slight positive movement.
- During Total’s results call, a reference was made to contracting strategies in Uganda, highlighting a smooth operation with 50% Asian contractor content.
- Speculations on oil prices potentially exceeding $100 a barrel if conflicts in the Middle East worsen, as warned by the World Bank.
- Expectations of the stock price holding at 36p and possibly reaching 40p in the near term due to large buy orders.
- In Mauritania, decommissioning of the Banda and Tiof fields is planned, with significant investments expected to develop the Banda field despite historical challenges.
- Discussions about the cyclical nature of the stock, suggesting potential recovery and significant upside.
- Analysis looking for a catalyst to drive the stock price above 36p.
- Predictions of a significant price breakout, potentially reaching 45-50p.
- Debate over the strategic sense of maintaining operations in Argentina.
- Information on a drillship expected to finish operations in Ghana in about five weeks.
- Concerns over the company’s performance and management decisions, particularly in exiting Namibia during critical exploration phases.
- Discussions about the company’s recovery post-COVID, with plans from some investors to exit around 40p.
- Frustrations expressed over perceived poor management and strategic decisions, including flawed disposal activities and disappointing drilling results.