Trinity Exploration & Pr... Share Discussion Threads

[nafafa] 16/4/2024 23:26

The Jacobin cost over runs would have been more palatable had it actually delivered anything. Going forward; divest unexploited assets and pay special dividend with the proceeds then spend the next few years focused on base production and paying a decent dividend. It is not that difficult.

[nocents] 16/4/2024 12:32

I highlighted your last comment yesterday ( £3.47 ). Cavendish , fwiw, focused on lack of financing. There are possibilities, but I just think that JB is not proactive enough. Trin has become the lazy company of 2013 which I foolishly in vested in at £14.50 a share(!) Why bother rushing anything if you are taking home half a million a year in salary!
I am afraid I hypothetically expect more obfuscation next week but hope to be wrong.
My opinion is that Jeremy was deflecting from Galeota as a 2C reserve and referring to present drilled and producing assets. He is a number cruncher and not a man of leadership in my opinion.
I appreciate your post Ab. I would , if you are willing, like clarity on whether the relegation of tax losses will affect profit tax on its present bopd, hence present profit. Will it??

[nocents] 16/4/2024 11:00

Ab
Would you be kind enough to share your analysis of the practical and potential consequences of the tax modification?

[strathroyal] 16/4/2024 10:11

Is there a bright side to all of this? Despite Nick Clayton being a poor communicator with us plebs, he has done a lot of reorganising since taking over from Bruce, including refreshing the board. The latest RNS is probably another nail in JB's coffin as he must be one of the few, if not the only, senior exec left from those days.

[nocents] 16/4/2024 09:52

This company has over 49% shareholder holdings by large holders. They have potential influence. But may just be sitting back. No idea.
Shareholders have a vote on any takeover. Going private? Not sure.
Be careful when sowing seeds of worry here. Shares can only “ disappear” if the company goes into liquidation/Admin.
It is not fair to worry people.
Hostile takeover ? Maybe, but there are procedures to be followed. The large shareholders don’t hold their shares without influence and will not accept a wipeout. Newlands owns over 10% and could call an EGM if wished.
Don’t sow seeds of worry. We have suffered enough.

[princebuster2] 16/4/2024 09:39

So your holding would just be wiped out??

[lexus880] 16/4/2024 09:06

My post I think the small guy is done for.

19 Mar '24 - 14:05 - 3630 of 3683

0 1 1
I am sad to say I think the writing has been on the wall for some time. This will be taken out for peanuts at the small shareholder's expense.

[princebuster2] 15/4/2024 22:44

What a ‘break up or outright sale’ mean for us shareholders???

[nafafa] 15/4/2024 21:49

Andrew, I apologise as I did not see your post 7143, I do try to keep up with what certain valued posters like yourself have to say, and no doubt I would have responded had I seen it.

[boystown] 15/4/2024 20:53

It may have been mismanaged, we may have lost a lot of trust, there may not be a good word to be said about everything - but nevertheless, <£14m is just crazy given the assets and earnings!?

[andrewbyles] 15/4/2024 20:35

I think you’ll find nafafa that you’ve avoided reading my position on shareholder action. You’ll see my position set out in posts such as 7143.

Incidentally, I don’t remember any other shareholders being present when I questioned the directors at length during last year’s presentation and pressed them to agree to sell or partially sell Galeota. I don’t get the impression that many people here have been communicating with the board to set out what changes they’d like to see, as I’ve done at length over the past six months or so.

My position remains as set out at 7143. Unless Trinity’s directors manage to pull an incredibly large rabbit out of a very small hat next week, my view is that Trinity no longer has a future as an independent company. It’s time for a strategic review that should lead to a break up or outright sale.

[aqc888] 15/4/2024 18:55

Will be interesting to see what petrofac have to say about Galeota. The more information, the more saleable it will be, 27.5mmstb is still worth alot more than the market cap of Trinity…

[nafafa] 15/4/2024 18:53

My continued concern is this all plays into the hands of major shareholders, who could well be looking to take the company private for peanuts. Failing to garner sufficient support for small shareholder action may cost us all dearly. Interesting that, to my knowledge, AB has avoided stating his position on such action. Looks like the AGM may be the only opportunity to be heard.

[nocents] 15/4/2024 18:01

Reading and digesting Cavendish is not the same as believing they are correct. They had bopd wrong, oil price foreard curve wrong, share price price wrong etc etc. i trust next to nothing written or spoken in our dodgy, self-serving market world.
You really should stop reading things into people and what they post. It is a big error of yours.
Re.action..we tried. Another error.
It is up to the major holders, not us.
I keep telling you this.

[nocents] 15/4/2024 16:56

Fell walking. How wonderful! Good 4u.
I feel like it has been a day of abseiling with Trin.

[arlington chetwynd talbott] 15/4/2024 16:51

nocents - it is a real shame that you are still setting any store by non-independent research / marketing communications from Cavendish. As I have said before, read their disclaimers. TRIN is a classic AIM story that has reached the point where it is time to look away. Folk should have moved against the BoD long before now.

[princebuster2] 15/4/2024 16:43

Trin is to shares what Yoko Ono is to singing!!

[aqc888] 15/4/2024 16:05

Perhaps AB will join the 3% now. It would certainly seem nobody is going to back this management whom have hugely bloated salaries, since the death of Bruce, yet no spare cash to buy any of their company that has seen its share price plummet. A disgrace.

[nocents] 15/4/2024 15:46

I darned well hope so. £500k p/a for this mess?? 5 NED’s doing nothing. 3 new highly paid execs fluffing it at every turn.
Shareholders unite.
Mr. Newlands. Mr.Winther…..liaise I dare you and make change happen. We can rustle 3% together here.