TUWLF.PK: Tullow Oil Plc Ord Market Currents

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Thursday, May 2, 11:57 AM EOG Resources (EOG +0.6%) could see 25% annual oil production growth in coming years, and its stock trades at cheaper multiples than rivals, RBC says as it adds EOG to its "energy best ideas" list. The firm also adds Oceaneering (OII +2.3%); it boots Helmerich & Payne (HP +1.9%) and Precision Drilling (PDS +1%), whose U.S. rig counts have not risen as quickly as expected, as well as Continental Resources (CLR -0.8%). Comment! [Energy, Quick Ideas, On the Move]
Tuesday, April 30, 10:57 AM Uganda's government says it may approve construction of a 120K bbl/day pipeline to export crude oil via the east African coast once drilling starts in the country's oil-rich Lake Albertine rift basin, easing concerns over oil development plans in the country among JV partners Total (TOT), Tullow Oil (TUWLF.PK) and Cnooc (CEO). Earlier this month, the government approved a 30K bbl/day refinery after a two-year deadlock. Comment! [Energy, Global & FX]
Wednesday, April 17, 11:20 AM Tullow Oil (TUWLF.PK -11.6%) clarifies that an exploration well in a prospect offshore French Guiana hasn't found significant hydrocarbons so far due to a trap-specific issue that has no implications for oil and gas prospects elsewhere in the block. Tullow's partners in the project had said the well had not encountered significant shows of oil and gas, sending shares down nearly 14% in London trading. Comment! [Energy, Global & FX]
Monday, April 15, 7:56 AM Uganda's government reaches an agreement with Cnooc (CEO), Total (TOT) and Tullow Oil over construction of a 30K bbl/day refinery, much smaller than it initially had sought. It had withheld consent for the development of the fields since last year, due to a spat with the companies over development plans, especially the size of the refinery. Comment! [Energy, Global & FX]
Tuesday, February 12, 8:48 AM Kosmos Energy (KOS) is moving ahead with its 2013 work program in Ghana, with drilling of the Sapele prospect set to be completed this quarter and a final development concept for its Deepwater Tano Block awaiting approval. Partner Tullow Oil says the Sapele-1 exploration well is currently drilling ahead at ~3,900 meters. Comment! [Energy]
Thursday, January 17, 8:15 AM Seadrill (SDRL) secures a contract extension worth ~$450M from Tullow Oil for the use of its ultra-deepwater semi-submersible rig West Leo for work off West Africa, bringing the total contract value to ~$1.13B. The rig has been working for Tullow off Ghana at a dayrate of $525K and is expected to remain in the play until the extended contract expires in 2018. 1 Comment [Energy, Global & FX]
Friday, January 11, 8:16 AM Tullow Oil (TUWLF.PK) slides more than 5% in London trading after saying it expects to post ~$2.35B in revenue for 2012 and that unsuccessful explorations write-offs rose to $299M from $121M in 2011. Exploration and appraisal campaigns for 2013 will target 1B boe, with more than 40 wells planned. Comment! [Energy, Global & FX, On the Move]
Friday, December 21, 2012, 10:32 AM RBC Capital releases its top global stocks for 2013 and, unsurprisingly, a handful of Canadian companies make the cut: BAM, MGA, SLW, TD, TU, VRX, DLMAF.PK, TFIFF.PK. Among other favorites: CBS, CLH, DFS, PCP, SHW, TUWLF.PK. The firm says the stocks should benefit from both a cyclical recovery and company-specific tailwinds. 1 Comment [Quick Ideas]
Tuesday, December 11, 2012, 8:24 AM Tullow Oil (TUWLF.PK, TUWOY.PK) agrees to buy Norway's Spring Energy for $372M, and says it plans to to sell its exploration, development and production assets in the U.K. and Dutch Southern North Sea gas basin as they no longer fit within its light oil focused portfolio. Spring holds 28 offshore licenses across Norway's continental shelf in the North, Norwegian and Barents Seas. Comment! [Energy, Global & FX]
Monday, December 10, 2012, 9:48 AM Cnooc (CEO +0.5%) raises its production outside China to one-third from one-sixth, as its takeover of Nexen (NXY +14.4%) brings assets from the North Sea, Gulf of Mexico and Nigeria. CEO and Sinopec (SNP) may be encouraged to pursue ambitious deals elsewhere, with Talisman, Tullow and BG Group among possible targets. But considering Exxon Mobil's (XOM) lost luster, bigger may not mean better. Comment! [Energy, Global & FX]
Tuesday, December 4, 2012, 12:57 PM Tullow Oil (TUWLF.PK -4.5%) tumbles on news its Zaedyus-2 appraisal well offshore French Guiana completed drilling but failed to encounter commercial hydrocarbons. The well was drilled in the Guyane Maritime license, where Tullow owns a 27.5% stake and is partnered by Shell (RDS.A, RDS.B), the operator and holding a 45% stake, Total (TOT) and others. Comment! [Energy, Global & FX, On the Move]
Tuesday, November 20, 2012, 9:59 AM Hyperdynamics (HDY +8.3%) agrees to sell a 40% gross interest in its oil and gas exploration concession offshore Guinea and transfer operatorship to Tullow Oil (TUWOY.PK, TUWLF.PK) for $27M in past costs and a share of future expenses up to $100M. Cash-strapped HDY had been looking to sell about half its 77% stake in the 25K sq. km license. Comment! [Energy, On the Move]
Wednesday, November 14, 2012, 3:40 PM Tullow Oil (TUWOY.PK, TUWLF.PK) says drill results will be boosted in coming weeks by frontier wells in Kenya and offshore French Guiana that could help add to its portfolio of future projects. The potential for positive drilling from Tullow contrasts sharply with recent lackluster production from heavyweights such as Shell and Exxon, which are struggling to raise output. Comment! [Energy, Global & FX]
Wednesday, October 31, 2012, 2:37 PM Hyperdynamics (HDY +24.6%) shares surge based on Monday's news of an agreement with Tullow Oil for exclusive negotiations concerning a potential acquisition of a 40% gross interest in its contract area offshore Guinea. Cash-strapped HDY has been seeking to offload part of its operated 77% stake in the concession amid drilling difficulties. 2 Comments [Energy, On the Move]
Wednesday, October 24, 2012, 6:03 PM Uganda takes back control of the Kanywataba prospective oil area licensed to Cnooc (CEO), Tullow Oil and Total (TOT) after initial drilling failed to yield any crude, the government says. An oil ministry source tells WSJ the decision was taken because Cnooc drilled only one well in the six-month exploration license period but had been required to drill three. Comment! [Energy, Global & FX]
Wednesday, October 3, 2012, 10:35 AM Marathon Oil (MRO -1.1%) says it will pay up to $50M to make its first move into Ethiopia, as an MRO subsidiary enters into a sale and purchase agreement with Agriterra Ltd. to purchase a 20% working interest in the South Omo concession. Tullow Oil is the operator with a 50% working interest, and Africa Oil holds the remaining 30%. Comment! [Energy, Global & FX]

TUWLF.PK Tullow Oil Plc Ord

TUWLF.PK

Tullow Oil Plc Ord