Trinity Exploration & Pr... Share Discussion Threads

[che7win] 02/5/2024 12:09

Nocents, Placings are not a concern now with substantial $32m cashflow which will rise.You will notice this year they extended borrowing on the back of their cashflow to speed up drilling and produbtion over 2024.That was a green light for the road map on drill to fill focus this year.

[nocents] 02/5/2024 11:47

Thank you.
You were shot down on the other thread regarding boepd and receiving less for gas than Trin for oil.
My opinion is that the profit-making onshore bopd oil that Trin is producing , should raise the oil profit a touch.
Assuming it all goes through.
Not all large holders have committed.
I don’t see a counterbid-just opinion. Txp and Trin are fairly synergistic, and although I don’t trust any CEO or BOD( Trinity destroyed my faith completely-they even annihilated the” set in stone” May dividend which I sorely needed) , and the sooner gone the better), I would have a little more faith in Baay, glitz and glamour agent that he may be! No more Placings please Mr. Baay.

[che7win] 02/5/2024 11:30

Co-1 also currently being drilled and results update expected soon and company results due to be published on a couple of weeks.I'm buying more here today.

[che7win] 02/5/2024 10:59

Near term catalysts, Cascadura 2 and 3 will be hooked up directly into the natural gas facility in Q3.They are so confident on these wells, that they didn't test them, this is saving 2m dollars.Production is going to ramp up significantly in Q3

[nocents] 02/5/2024 10:42

Appreciate both comments.SR I am the last person to stick up for this BOD, having lost my shirt to them.
I agree that a cash bid would have lower prospects than a Trin/TXP venture. Txp can use the tax exemption, the FCF( which should have been partially a “ set in stone” dividend-quote) the extensive assets and Jacobin production with BA in 9 months. Together they can grow and TXP got a bargain. I feel that the Chairman of Trin does not care a jot for us, nor the BOD. So happy to be rid. But the deal is not through yet. Interesting that TXP is so low.
Che7….what are the near term catalysts for TXP-2024..say 9 months?

[che7win] 02/5/2024 10:29

As a new shareholder, I would not want cash.TXP is throwing off 32m dollars cash and substantial upside.TXP share price should hit 100p at least in next 12 months.

[strathroyal] 02/5/2024 10:08

My understanding is that Perenco are a private company so any bid would be in cash, is that right? Unlikely to be much more than 70p I would have thought so, whilst agreeing with Nocents that the bid is low, I'd rather have shares in TXP than crystallise a substantial loss.

[nafafa] 02/5/2024 08:45

Regrettably AB your continued expressions of faith in the Board turned out to be utterly misplaced. Like you I doubt there will be interest from elsewhere and I will probably, reluctantly, vote in favour. These clowns will otherwise likely run what is left of the business into the ground and we shall end up with nothing. Just illustrates the extent to which Trin's fortunes relied on one individual who sadly is no longer with us.

[orbit007] 02/5/2024 00:19

He had a dig at the bulletin boards, i.e the shareholders! Comments about their pay given where the share price has gone are justified and I found it unprofessional that he made that jibe tbh! I think the sooner it concludes the better, I am not sure there is anything else on the tables now either.

[orbit007] 01/5/2024 23:40

I have watched the TRIN presentation. So the share ratio of 1.5 TRX to 1 TRIN was agreed in November 2023 when the TRX share price was 51p. So the consideration we would now get is far lower. I must say that is disappointing. I await the TRX presentation to see what the business case going forward it, but I am not jumping for joy here. TRIN is valued far lower than TRX simply because it hadn't got the cash, but TRX are borrowing theirs!

[dunderheed] 01/5/2024 23:12

Excuse me nocents, there is way I'd waste my time working on the trin board! They are (significantly) below dunderheed level!
Don't really see Perenco striking but just my opinion.

[homebrewruss] 01/5/2024 22:57

I've uploaded the video presentation to YouTube, a presentation from Touchstone is also expected in the coming days.

[nocents] 01/5/2024 22:56

Interesting times.
Trin has become a solid buy.
61p is a theft, no question, and they even cancelled the dividend due this month. Shareholders are just cannon fodder and Trin are heartless. But the possibilities of a counterbid from Perenco exist( they have been acquiring from BP in T and T) and they border and produce from Galeota. 61p is a crime . But so is the competence of the Trin BOD. Txp have taken advantage of the low price, dunderhead directors, cash generation, no debt, tax exemption , huge assets…for 61p. Bruce( bless him respectfully) will be rolling over and not in laughter.
Come on Perenco. Bring it on.

[nafafa] 01/5/2024 22:40

Undoubtedly the best outcome for shareholders is for Trin to sell off unexploited assets, reduce overhead and focus solely on maintaining levels of highly profitable onshore production. I do not doubt that over three years this has the potential to yield returns to shareholders well in excess of the existing derisory offer.

[homebrewruss] 01/5/2024 22:38

Looks like the presentation is at the bottom of this page

[che7win] 01/5/2024 20:06

The price is 71% higher than the market valued it at!Honestly, if the deal doesn't go through the share will halve and go nowhere for another 3 years.You are getting dirt cheap TXP paper, good deal me thinks

[aqc888] 01/5/2024 19:25

Touchstone has a depressed share price, as does trinity. Could Trinity mess around and get a higher price - perhaps. However, I don’t think the perfect should be the enemy of the good here. The merger will create a stronger more efficient company that could grow and make use of Trinity’s tax and Galeota situation. I don’t think holders should mess around too much and risk this falling through. Personally I’d wait as long as possible to accept, to allow any other bids to materialise, but I think this is a reasonable offer.

[davidblack] 01/5/2024 17:32

Large redundancy payments? Sorry exit packages.

[spectoacc] 01/5/2024 15:55

Thanks @Sleepy, interesting. I don't see any point selling when there's the possibility of counter-bid - there's a floor to the likely return, and it's above the current s/p.

[nafafa] 01/5/2024 15:07

They will like many of us left significantly underwater if the deal goes ahead at this fire sale price. I would love to know how much are useless BoD have been offered to push this through.

[sleepy] 01/5/2024 14:12

Anyone know the date(s) when David Newlands bought his shares?