Secondary Recommendation

Tullow Oil - Drilling programme has potential to trigger huge upgrades to reserves

April 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

It's very rare for a small oil company to transform itself into a FTSE 100 giant but Tullow Oil, 1263p is the exception that proves the rule. Back in 1999 (when the shares could be bought for a mere 50p), Tullow eked out a profit of just over £1m - thanks to a handful of modest assets, including a few gushers in Pakistan and the Ivory Coast. But founder and chief executive, Aidan Heavey, always had ambition and in what proved a major turning point, he acquired a large package of North Sea assets from BP Amoco for £200m at the turn of the new Millennium. The BP deal transformed Tullow into one of the largest North Sea gas producers, providing the platform for further deals, including a large bet on West Africa, through ...

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Tullow Oil - Exciting exploration drilling kicking off in Guyana in H2 (February 2019)

Tullow Oil - Announces new dividend program (January 2019)

Tullow Oil (September 2018)

Tullow Oil (October 2017)

Tullow Oil - Rights issue de-risks business (May 2017)

Tullow Oil (March 2017)

Tullow - TEN fields achieve first oil (October 2016)

Tullow Oil - Launches US$300m convertible bond (August 2016)

Tullow Oil (June 2016)

Tullow Oil - Successful discoverer of massive oil fields making come back (April 2016)

Tullow Oil - Offers attractive entry point at low point in the oil cycle (December 2015)

Tullow Oil - Huge oil discoveries in Africa driving up shares (October 2009)

Tullow Oil - Bulging portfolio of exciting exploration prospects (September 2007)

Tullow Oil - Reaping benefits from Energy Africa (October 2004)

Tullow Oil - Bold acquisition transforms prospects (September 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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