Tullow Oil PLC (LSE:TLW)
£ 0.3816 0.0024 (0.63%) Market Cap: 555.88 Mil Enterprise Value: 2.54 Bil PE Ratio: 0 PB Ratio: 0 GF Score: 46/100
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Tullow Oil PLC to Merge with Capricorn Energy PLC Call Transcript

Jun 01, 2022 / 08:00AM GMT
Release Date Price: £0.535 (-2.01%)
Simon John Thomson
Capricorn Energy PLC - CEO & Executive Director

Well, good morning, everybody, and thank you for joining this meeting. I'm Simon Thomson, CEO of Capricorn. And with me are Rahul Dhir, CEO of Tullow; and James Smith, CFO of Capricorn. We've got a presentation to run through with you this morning, and we'd be very happy to take questions at the end. It is being webcast. (Operator Instructions)

So this is a very exciting day for both companies as we announce our intention to combine in a merger of equals to create a leading African energy company. Our view is that this merger creates a compelling investment proposition built around scale, focus, growth and returns. In terms of scale, the combined group, which will have a new name, will have a significant 1 billion-barrel resource base and it will produce around about 100,000 barrels equivalent per day net. And that will be from a material and diversified resource base across the African continent.

That brings me to the next point, focus. We will have a focus on Africa where we are well positioned to build on our

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