Updates

Tullow Oil

June 2016

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.

The shares recently hit 280p before pulling back thanks to better prices and a reassuring update, the highlight of which was a renewal of banking facilities on good terms. Debt capacity of US$3.5bn was secured while its revolving credit facility was extended a year to April 2018, initially for US$800m with a US$200m “accordion.” Estimated net debt of c. US$4.5bn at end of April left un-utilised debt capacity and free cash of around US$1.3bn. Capex guidance for FY’16 was reduced by US$0.1bn to US$1bn.Meanwhile production in Q1 averaged 59,200 bopd for West Africa and 6,500 boepd for Europe, marginally below expectations due to previously flagged issues with a turret bearing at its Jubilee field. However, new proced ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Scapa - Shares hit new high of 252p

Bonmarche

Tullow Oil (December 2019)

Tullow Oil - Makes fresh discovery (September 2019)

Tullow Oil (August 2019)

Tullow Oil (April 2019)

Tullow Oil (March 2019)

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 - 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 - Drilling programme has potential to trigger huge upgrades to reserves (April 2010)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Tullow Oil

June 2016

Related Articles