Trinity Exploration & Pr... Share Discussion Threads

[thenorth] 30/3/2016 13:13

Oh no rossannyfanny down again I see despite your constant bashing of the more successful of the areas producing oil companies...

[phoenix equity] 24/3/2016 11:11

iog is where it's at today

[mark10101] 24/3/2016 08:27

Well this morning they are still discouraging buying. 3.9p for quantity and 3.4p for smaller amounts. Clearly trying to process a deal at this level.

[mark10101] 24/3/2016 07:48

Wonder if this applies to us also?

[mark10101] 22/3/2016 07:58

Not compairing the two, just showing the irrationality of the market. If I was to compare it to anything it would be to CAZA which even at the height of the oil boom and consistently drilling wells with 1600-2000 bopd it never achieved an enterprise value of greater £70m. Like I say it will be decline rates and confusion when they keep drilling the wells that the average daily production does not move by much. You have to out drill the decline curve. Anyway I backed TRIN, there is no doubt I would rather be a staunch supporter of PANR, it would have been much better for my fancial health!

[mark10101] 21/3/2016 22:09

One mans growth stock is another mans about to be bombed out disaster. Really do not get PANR they produce nothing now, they have debt and needed a placing to keep the ship running (would be mad not to at current price), when they do start production when they get these elusive better than expected but can't get them producing wells on the go the decline rates will be shocking. All this with just a 50% working interest.

Anyway anyone riding the good ship PANR has had a better ride than us poor TRINitians... I have good friends in PANR and I mean it no harm, I just don't understand where the current valuation comes from.

[mark10101] 21/3/2016 18:54

How is it higher up the food chain? Genuingly interested, when I researched it it appeared to be a veteran oil man having his last hurrah in the eagle ford region and leveraging it on Aim. I was invested in CAZA in the good days and it never got an enterprise value as high as it is today after it got recapitalised via a massive dilution of shareholders. TRIN in my eyes is a more grown up oiler than either of those two with PANR sitting on a stagering £270m MCAP. I suspect if they ever get their current proof of concept well sorted after the problems they have had people will start to understand the decline curves for this type of play. It took many LGO investors by surprise and the US decline curves are a different league. If TRIN suffered in the way they do we would currently have 500bopd from when we last drilled.

My point is less that TRIN should be £250m MCAP but more how crazy the market can get it wrong in both directions.

[mark10101] 21/3/2016 16:16

It would be a game changer in terms of market physiology for TRIN. Look a PANR recently, similar debt taken on as TRIN (has accumulated and needs to resolve) and PANR has no current production and is in the proving phase of its fields. It is worth over £200m MCAP (someone educate me as to why?). TRIN has 2500 bopd and more reserves to go after and we are £3m MCAP. Equity is priced for no equity to be left, with debt resolved TRIN will become a forward looking company and the market will apply its forward rating whatever that will be. TRIN has become fairly academic for me as need 34p to breakeven, however my mood will change if we get solid refinancing.

[awise355] 21/3/2016 15:58

Volume suddenly poked up mostly buys

[mark10101] 21/3/2016 15:23

I would say it would be a game changer and the outcome I have continued to hold for. 20p plus if we get decent debt refinancing and keep all our assets.