Tullow - comment

Tullow has successfully brought on two production wells in the South East quadrant of the Jubilee field, with Gross Production from the Jubilee field now above 100,000 boepd. It is earlier than we had expected.  With two further wells expected to come online later this year, Tullow should meet and surpass its FY23 guidance. Tullow has guided for $200m of free cash flow at $80/bbl. The success of the drilling campaign in the new South East quadrant will empower management to try further debt purchases concerning the upcoming refinancing of the 2025 sub notes.