Updates and Ideas

Tullow Oil - Makes fresh discovery

September 2019

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.

Tullow Oil is a former stockmarket darling whose shares soared from £2 in 2003 to an unlikely £16 in 2012 on the back of an amazing exploration run uncovering no fewer than four oil producing basins in frontier African territories including two in Ghana and one each in Uganda and Kenya. Those lofty heights, which saw its oil & gas reserves and resources soar from 79 million barrels in 2000 to the current 1,178 million, were then punctured by a collapse in the oil price from over US$100 / barrel as well as a series of dry wells, while debt taken on to exploit those discoveries threatened to engulf the whole business. However, a rights issue steadied the ship, production has grown and it’s got its “mojo” b ...

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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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Tullow Oil - Makes fresh discovery

September 2019

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