Addax Petroleum (fka AXC)

[Julius Erving]

Why Are Ophir Energy Plc, Circle Oil Plc And Tullow Oil plc In A Slump This Week?

http://www.fool.co.uk/investing/2015/08/19/why-are-ophir-energy-plc-circle-oil-plc-and-tullow-oil-plc-in-a-slump-this-week/?source=uptyholnk3030001

I’ll finish with a look at Tullow Oil (LSE: TLW), which has seen its share price fall 10% in the past five days, and by a whopping 71% in 12 months — and an eye-watering 86% since February 2012! Tullow has had a couple of painful years, with earnings per share falling by three quarters in 2013, followed by a bone-jarring $2bn pre-tax loss in 2014.

Set for a nice recovery?

But the firm’s restructuring and cost-saving was bearing fruit by the mid-way point this year, and though Tullow was facing net debt of $3.6bn, it still had a cash and debt headroom position of $2.3bn. And in an operational update last week, CEO Aidan Heavey told us that Tullow “continues to make good progress […] with continued emphasis on managing costs, capital expenditure and the balance sheet“.

There’s a small profit on the cards for Tullow this year, but a significant rise forecast for 2016 would being the P/E down to about 16 — and a continued recovery could make Tullow a good investment for the stout-hearted.

They use the word "stout-hearted" in relation to TULLOW, just IMAGINE how they would call us ERHC investors...

Tullow is THE BANK OF ENGLAND in comparison to our ERHC.

The Doc.