TUWOY - Tullow Oil Reinstated Dividend. Too Prematurely?
FY18 will be remarkable for British upstream company Tullow Oil (TUWLF, TUWOY), which I covered in October. The London-based hydrocarbon producer and explorer has shown its first profit since dramatic 2014, and at the end of the year declared that dividends postponed due to the financial distress and lackluster performance would be reinstated. Expensive Brent improved profits and even instilled confidence that options of the frontier drilling would be sufficiently funded. But today oil is terrifying energy investors, hurting the capital gain. Moreover, market participants and pundits voiced concerns that recession is