Tullow Oil (TLW)

Stocks start the week in a positive mood with the FTSE 100 index up 0.2% to a new six month high of 7,473 led by energy stocks. Oil prices have hit a new high for the year as the US tightens sanctions on Iran by withdrawing waivers on its exports to countries such as China and Turkey. Brent crude is trading at $74.50 per barrel on Tuesday compared with less than $55 per barrel at the start ...

The decision by Norway’s $1trn sovereign wealth fund to sell its positions in pure play oil and gas companies has caused shockwaves across the natural resources sector. The plan, subject to parliamentary approval, is to sell off interests in businesses which only undertake exploration and production of oil and gas, rather than integrated operators like BP (BP.), Royal Dutch Shell (RDSB) and ...

Small cap oil exploration firm Eco Atlantic Oil & Gas (ECO:AIM) is teaming up with the big boys for a significant drilling campaign offshore Guyana this summer. Along with its partners Tullow Oil (TLW) and French outfit Total, Eco will drill two wells on the Orinduik block. The first will go after the Jethro-Lobe prospect, estimated to potentially hold 250m barrels of oil equivalent ...

Oil and gas company Tullow Oil (TLW) was a notable stock market success story of the first part of the 21st century. The company enjoyed notable discoveries in Ghana and Uganda and could point to a 70% success rate on exploration and appraisal wells against an industry average of somewhere around one-in-seven. It went from a share price of 76p at the start of this century to a peak above ...

Market attention is likely to fall on several large and smaller oil and gas operators off the coast of Namibia in West Africa as a drilling effort kicks off this September. The likes of ExxonMobil, GALP, ONGC, Total and Royal Dutch Shell (RDSB) are involved, along with small and mid-cap firms like Chariot Oil & Gas (CHAR:AIM), Eco-Atlantic Oil & Gas (ECO:AIM) and Tullow Oil ...

Britain’s biggest free-to-air commercial broadcaster ITV (ITV) is hoping to launch a new TV streaming service as it battles with cord-cutting over-the-top services like Netflix and Amazon. The news comes alongside what the company hailed as ‘fantastic’ performance on air and online in its first half, with the World Cup and hit shows like ‘Love Island’ helping revenue to rise 8% to ...

No-one said running an oil and gas company in Africa was easy and recent developments at Tullow Oil (TLW) simply underline that point. This morning the company announces it has lost a legal dispute with US peer Kosmos Energy resulting in a payout to the latter upwards of $50m. The two parties had been arguing over their liability for costs relating to a terminated rig contract for a planned ...

More than three decades after founding the company Aidan Heavey is stepping down as chairman of oil business Tullow Oil (TLW). In July Heavey, 65, will hand over to former Drax (DRX) chief executive Dorothy Thompson. Heavey conceived the business in the mid-1980s in a town called Tullow within an hour’s drive of Dublin. He was discussing with a friend the existence of smaller oil fields in ...

Oil producer Tullow Oil (TLW) says there is 25% less oil in its Kenyan asset in the South Lokichar basin than previously expected, confirming previous media speculation that resource estimates would be downgraded. The negative news accompanies an otherwise decent set of full year results which largely matches the guidance given in a January 2018 trading update. Revenue came in a touch ...

European markets are in recovery mode on Wednesday, investors regaining confidence following yesterday’s gains on Wall Street and the FTSE 100 and FTSE 250 rebounding by 49.4 points to 7,191 and 105.3 points to 19,368 respectively. Among the blue chips, unloved tobacco titan Imperial Brands (IMB) wafts 3p lower to £27.27 despite a reassuring AGM trading update. Though the ...

Oil producer Tullow Oil (TLW), once a constituent of the FTSE 100, is set to announce its full year results on 7 February and there could be bad news for investors, if speculation proves correct. Usually the full year results event each year is a more detailed rehash of January’s pre-close update but this time there is something more substantial for investors. Tullow is expected to announce a ...

European cinema operator Cineworld (CINE) last week contacted its shareholders to ask if they want to take part in a £1.7bn fundraising to help it buy US rival Regal Entertainment for £2.6bn. Known as a ‘rights issue’, the exercise involves shareholders making the decision whether or not to buy discounted shares in the group. Shareholders must take one of four routes. They can either ...

Oil firm Tullow Oil (TLW) reveals a solid end to a year of transition. The business ran into trouble after a 2014 collapse in the oil price. But the shares are up only 1.5% to 224.6p on Wednesday with the market still reluctant to get too carried away with its recovery potential. CASH FLOW IMPROVES Today's statement reveals 2017 free cash flow of $500m, ahead of expectations. Along with ...

The markets approach the New Year in a fairly resilient mood, characterised by decent earnings growth from companies, several examples of M&A activity and the end of another year in what has been a long bull-run. Although the general public may be fixated with Bitcoin at present, we believe there are plenty of opportunities for your money in the UK market and overseas, as we explain in this ...

Excitement continues to build at North Sea oil explorer Jersey Oil & Gas (JOG:AIM) after a well on its 18%-owned Verbier prospect identified up to 130m barrels of oil. Drilled with Norwegian operator Statoil, this side-track well involved re-entering a previously unsuccessful well from its surface location but then changing direction to target a different area of the ...

By Daniel Coatsworth and Tom Sieber Investing is a continuous learning process. We’re passionate about helping individuals to better understand how the market works and how to spot opportunities and avoid mistakes. This article details six ways in which you can sharpen your investing skills and get an edge over many other investors. We’ve included lots of topical examples to help you ...

Context is key in investing. New Tullow Oil (TLW) chief executive Paul McDade has pointed to a ‘strong performance’ in the first half despite reporting a $300m post-tax loss. Yet the share price is up 6.7% to 158.6p. To be fair there are clear bright spots in today’s release. Revenue is up 45.6% to $788m and free cash flow is much improved with an inflow of $205m after a $697m outflow ...

The FTSE 100 opens up 43 points at 7,434.69 as a busy day of corporate news starts with ITV leading the way. Free-to-air broadcaster ITV (ITV) sees its shares rise 3.8% to 181.4p despite a 10.4% drop in pre-tax profits to £381m in the six months to 30 June. Total revenues of £1,697m are down from £1,712m a year ago but the company says its results are very much as it anticipated and its ...

London's FTSE 100 trades 42 points lower at 7,393 following a night of weak trading on Wall Street which saw technology stocks drop significantly. In corporate news, Dixons Carphone (DC.) gives the UK retail sector a shot in the arm as its share price creeps up over 2% to 300.7p. The electricals-to-mobiles retailer's preliminary results show the firm had a good year to 29 April 2017, enjoying ...

Oil explorer Eco (Atlantic) Oil & Gas’ (ECO:AIM) Guyana licence is located a mere eight kilometres from many substantial oil discoveries made by ExxonMobil, the latest of which, Snoek, was announced 31 March. Chief executive Gil Holzman tells Shares his company will, in partnership with operator Tullow Oil (TLW), shortly commence a 3D seismic survey over the Orinduik block and should be ...