The stock price is close to a strong long term support and the Oil price remains bullish in the medium term. Tullow’s CEO and management stabilised the business between Q1-17 and Q3-17. Asset sales and efficiency goals helped reduce its debt balance and capital expenditure commitments to manageable levels. Tullow Oil is generating free cash flow since Q317. An EBIT of $669M is expected in 2018 from $151M in 2017. A reduction of 40% of the debt in 2018 down to 2.88B will also help to increase the odds towards a new long term bullish scenario.
Good luck fellow traders
Good luck fellow traders