The deal with Tailwind dilutes Serica's equity and impairs its cash position. Shareholders can stop it happening.
Printing Money
The recent merger bid with Capricorn may suggest that Tullow's capex and financing requirements exceed its assets ability to fund them
The company could have over half its market cap in cash in the next few months
The company has clung on, paying down the majority of its outstanding debt, but how long can Lancaster hold up?
Serica is a UK upstream gas producer enjoying the fruits of a tight European gas market
Deal is accretive vs existing assets and on current metrics, but ties Tullow further into Ghana and the fast declining TEN Field.
The TEN field is continuing to decline at a rapid rate, and is getting much gassier
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