Tullow Oil

Debt test passed

  • Sectors : Resource
  • Companies : Tullow Oil

Ratings and price correct at time of issue.

  • Tullow Oil

    Closing Price: 17.6p

  • RATING 15/01/20

  • PREVIOUS RATING 09/12/19

    UNDER REVIEW

DAVY VIEW

The passing of the second debt re-determination this year is encouraging. It removes an element of uncertainty and allows Tullow to continue to focus on adapting to the current low oil price environment. The group has also set a date for its proposed Capital Markets Day (CMD) on November 25th. Given Tullow’s intention to set out its programme regarding how it can realise value from its asset base, including a de-leveraging process, this CMD will have more importance than the average such event.

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Oct 7 2020, 08:50 IST/BST

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