Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 10/10/2016 16:27

Even if we only just refinance the whole debt 20p would be a sell out. Many companies trading at higher with less production and more total debt. I guess the share price got hammered as it looked like share holders were going to be ripped off. I have a little hope after this recent move that they are fighting for shareholder value. Get us back trading with new finance and I may even become hopeful of recouping a good chunk of what I put in.

[lexus880] 10/10/2016 16:15

you can have mine for 20p

[phoenix equity] 10/10/2016 14:24

Who has any shares in trinity they wish to sell ?

[stuart14] 27/9/2016 12:30

Couldn't really tell from this, are they still burning through cash?

[mark10101] 27/9/2016 08:01

Yes not over yet by a long shot. So long as long term holders don't get diluted to oblivion restructured finance would leave TRIN a very attractive prospect even at 10 time the delisting price. Come on Bruce make our patience and loyalty worth the pain so far.

[mark10101] 17/8/2016 08:54

Not necessarily the end of the road as given how long this has been going the managment are not going down without a fight. If the management can pull off an agreement with everyone there could still be light at the end of the tunnel for shareholders.

[mark10101] 16/8/2016 11:51

Will this ever be resolved, the good news is they must be battling hard for all stake holders. It is crazy that TRIN with the assets it has and the production income we are in this position. This was my safety play in the oil industry.... Looks like total wipeout.

[lexus880] 27/7/2016 08:44

Well some positive news followed by a little negative news, still not dead yet, still hope, good luck to all.

[stuart14] 25/7/2016 11:43

Silence here for a week?!

Guess this is a write-off now. Would be really nice if they could rescue something for shareholders though. From 700 to 0 in 4 years with a management team lauded as superb in the industry! Ouch!

[comedy] 18/7/2016 09:00

suppose deal must have been close for citi to pull plug...crooks the lot of them...never take on debt and will never be at mercy of banks that stitch you up.

[thenorth] 14/7/2016 12:12

Oh dear Rossannyfanny not looking so good now is it you cretin... That will teach you to stick to concentrating on your own investment rather than bashing ones you are not invested in at all...You so deserve it you prat.... And I'll laugh my nuts off if LGO snap up some of your on shore stuff on the cheap....

[datait] 13/7/2016 15:23

rossannan 24 May'16 - 16:46 - 2867 of 2915 1 0

L&G obviously not taking less than 3p for theirs.

Wonder how we would be doing if we were being ramped like LGO?

Happier with a quiet BB, to be honest. Our time will come.


pmsl.......................................

[mark10101] 13/7/2016 13:49

Yes happy to accept the losers as well as the winners and my theory was if you spread it around a bit on AIM the winners can easily cover the looser. Unfortunately my last run of diversified and what I thought sensibly risk proportioned shares has been terrible of the last year, likely to put me out of the game for good.

I have heard from Tracy today so at least they are still comunicating, not saying anything other than they will update the market as soon as practicably.

[marvelman] 13/7/2016 13:07

Mark

Onward and upward. I do know that sinking feeling when one of these risky shares goes belly up and as you appear to accept it is all part of the game we all take part in willingly. As I have done in the past its a matter of taking the hit and learning from it. As they say, you are not alone. Regards.

[mark10101] 13/7/2016 10:28

Marvelman, no worries and he was right TRIN was very risky for months now, just have had a big holding vaporised to a few K and you keep in the hope they pull it off. We have the asset base and like I was trying to point out earlier debt does seem to be very subjective with companies taking on massive debt with no production in the hope of getting production being treated more favourably than a company with significant production and proportional smaller debt. It is the market and the worry is someone has steered TRIN to this point to pick up a bargain. No doubt oil will be $60 by Summer's end and this has been timed to perfection.

[marvelman] 13/7/2016 10:08

"Mark I am sorry to hear about your and all other shareholders losses here"....oh really?

but never mind because:- "I once held TRIN shares but sold late last year when they fell through my 6p stop loss."

You sure know how to make a guy feel good about his losses

[lexus880] 13/7/2016 10:02

ITS A SAD DAY WHEN ANY INVESTOR LOSES MONEY IN GOOD FAITH

[esmerelda] 13/7/2016 08:57

Mark I am sorry to hear about your and all other shareholders losses here. The interim accounts released in May screamed sell (and wait for any signs of recovery). The company was loss making at the operational level (-£7m) so had no chance of repaying the loan and possibly not the interest or much else. I once held TRIN shares but sold late last year when they fell through my 6p stop loss.

[grannysnuffs] 13/7/2016 08:30

oooooooooooops forgot, have a nice holiday rossy dimwit :)

[mark10101] 13/7/2016 08:05

So from a portfolio of 7 AIM share from 2014 only one share has remained trading and most I have followed to the death (two largest holdings claim they will be back but got to assume the worst). I doubled up here at 18p and have so far suffered my biggest lost it was intended as a safety trade.

I will never understand why a company producing significant revenue (but with obvious debt) should be favoured over an exploration company taking on significant debt with the hope of achieving TRINs stable and solid production rate. Someone will pick up a bargain here and we will be left with nothing. Fortunately I resisted the urge to add more at these levels, the only saving grace.

[12bn] 13/7/2016 07:57

NS Number : 0116E

Trinity Exploration & Production

13 July 2016

Embargoed: 07.30a.m., 13 July 2016

Trinity Exploration & Production Plc

(the "Company" or "Trinity"; AIM:TRIN)

Statement re Suspension

At the request of the Company, Trinity's ordinary shares have been suspended from trading on AIM with effect from 07.30 a.m. this morning.

Stakeholders will be aware that the Company has been in extended negotiations with Citibank with regard to repayment of its outstanding debt balance of $13.0 million. This has led to a number of announcements by Trinity where the Company and Citibank have agreed numerous extensions to the moratorium on principal repayments to Citibank whilst the Company has been working on a wider financial restructuring of the business.

Despite the Company's positive attempts at pursuing specific wider restructuring initiatives, the Company has now been unable to agree suitable terms with Citibank with regard to the existing and potential future moratorium terms and as such the Company finds itself no longer in a moratorium. Furthermore, Citibank has now put restricted access on Trinity's Citibank accounts making the Company unable to fund its working capital position in a timely manner as it actively pursues a wider restructuring solution. Following cessation of the moratorium, the amounts owed from the Company to Citibank are now due and payable.

As a result, the Company has requested a suspension in trading of the Company's shares pending clarification of its financial position. The Company's ordinary shares will remain suspended from trading on AIM until such time as Citibank advise the Company on how they would like to proceed, as the senior secured creditor, or a wider restructuring solution can be agreed.

The Company will issue further announcements in the event that any further action is taken by Citibank or by the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

[overthebridge] 13/7/2016 07:37

Yip Citibank pulling the plug now.