Xenon's thinking from the IV board sure hints a RS is the LAST thing HDY will need. There might be a shortage of shares. LOL. Chase it serf, wink wink.
Tullow Preparing For Major Campaign Offshore Guinea
This is all speculation based on information posted about Tullow and world events not posted but in the news. My premise is Tullow is preparing to mount a major drilling campaign offshore Guinea lasting at least through 2018.
1. Tullow signed an extension with Seadrill through 2018 so they are lining up a ship(s).
2. Tullow is selling their UK and Norway holdings. Selling raises capital for expensive offshore effort.
3. Tullow recently successfully established a several billion dollar line of credit with four or five of the worlds banks. Easy access to capital enables faster work.
4. I am speculating that the onshore drilling effort in Kenya along with Uganda will be downgraded or put on hold until the regional
Islamist extremist/thugs in Mali, Algeria, Kenya etc. are not a threat to the Tullow effort. This could take a long
time. Wiser decision is to switch to massive potential offshore Guinea.
5. The Tullow CFO described Tullow's new projects as important and basin opening. As I understand it the Guinea
offshore basin prospects are potentially one of the world's largest remaining unexplored basins that is not
under ice or in extremely hostile environments. And the prospects lay offshore not onshore as Kenya.
6. Angus McCoss created and proved the syn-rift theory. He has seen the HDY data and sees big oil potential.
In summary, we will hear announcements from HDY and Tullow of the extensive drilling plans Tullow/HDY are
making for opening the Guinea basin in coming weeks. Xenon
