[On :Freetrade:] Tullow Oil - TLW 🛢

https://www.ft.com/content/5db9010a-1a82-11ea-9186-7348c2f183af

When Tullow Oil pushed out its chief executive and head of exploration on Monday, slashing its production forecasts and scrapping its dividend in the process, its board knew it would have to face the wrath of disappointed investors.

But they could not have imagined the scale of the revolt, with a near 70 per cent share price collapse in the FTSE 250 oil and gas explorer ranking as one of the worst single day performances by a significant London-listed company this decade. More than £1.4bn was wiped off Tullow’s market capitalisation, valuing the company that was once worth more than £14bn at a little over £560m.

:wave: bye CEO, bye exploration director, bye money