With oil at $80 all these E&P's are cutting back spending, that's sadly the name of the game. Tullow are in talks with the Namibian govt over its 31% stake in the Kudu gas development i.e. they want out. They highlight capital constraints.
Don't put ur house on them committing to any offshore Namibia drill anytime soon.
As I've mentioned many times before PCL is running out of cash and a capital raising is 110% certain. Down at these levels that means it will be a disaster for current holders. This stock will NEVER rally significantly until it has more cash in the bank. Any rally will be met by short sellers confident they will be able to buy their short back in an EXTREMELY dilutive rights issue. Every single rally in the last 18 months has shown u that
Tullow....
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Last
1.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $130.1M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.6¢ | 1.6¢ | $21.57K | 1.348M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1735147 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 4721533 | 11 |
View Market Depth
| Last trade - 10.10am 08/11/2024 (20 minute delay) ? |
| PCL (ASX) Chart |