Tullow Oil

Uganda deal a major step in the right direction

  • Sectors : Resource
  • Companies : Tullow Oil

Ratings and price correct at time of issue.

  • Tullow Oil

    Closing Price: 20.3p

  • RATING 15/01/20

  • PREVIOUS RATING 09/12/19

    UNDER REVIEW

Person's Name

Job Langbroek

Analyst

DAVY VIEW

Coming on the heels of a successful debt re-determination and confirmation of new CEO leadership, the Uganda deal is a major step in the right direction. It also points to the fact that, notwithstanding current oil markets, Tullow has the portfolio value to make a material impact on its debt profile – the ultimate home of any funds received. While the deal is subject to AGM approval (Class 1), we think shareholders will be pleased with this news.

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Apr 23 2020, 07:30 IST/BST

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