Thursday, December 11, 2014 8:29:41 AM
-If Tullow were to drill their shareholders would lynch the mgmt for blowing money on a project that would require billions of captal dollars to develop. Tullow would be unlikely to be able to monetize a discovery because, frankly who would want to farm in with oil at this level.
- On the other side of the coin (for Tullow) a large discovery would increase reserves and help with valuation and maybe help fend off unwelcome takeover.
-The low price of oil makes it less likely Guinea would do anything arbitrary as far as pulling the concession. They know that they have better odds with what they've got than trying to market an unproven field in this situation. Besides, they've got real problems to concern themselves with right now.
-It's going to take time to resolve all the current issues. While any oil that is there has been there for millions of years and isn't going anywhere, HDY is not in that same situation.
-Wondering if anyone is considering taking the company private? It would be a better situation from a regulatory and timing standpoint. But with only a short time left to drill it might not be a good value proposition.
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