Tullow - comment

A concise trading statement from Tullow before their AGM today.  Tullow are maintaining their cash flow guidance for FY24 and FY25 but production in Q1 was lower than expected with the Company now guiding FY24 towards the lower end of the previous estimate.  A slight worry is the lower-than-expected incremental production from the new wells, which is why production expectations have fallen.  

Separately, in their non-operated portfolio, the Simba field in Gabon (operated by Perenco) is still suspended following the March fatalities.