Trinity Exploration & Pr... Share Discussion Threads

[nocents] 03/5/2024 08:49

A soupçon of arrogance?
You are inviting a board “barely fit for purpose” to your board. Your logic defeats itself.

[ballymoss18] 03/5/2024 07:38

The board is barely fit for purpose except for a few posters. We had to endure months of Pro ramping and people with a grudge against him.Touchstone have a discord group where you can have better discussions.

[nafafa] 03/5/2024 00:24

Nocents, I guess you are now set to become TXP's most prolific poster, those on that Board are in for a treat!

[nocents] 02/5/2024 23:03

I know. I figured that out. I changed it when I worked it out. I’m sorry for being a bit cutting anyway.

[strathroyal] 02/5/2024 22:57

Sorry nocents, that wasn't directed at your post. I'll edit my earlier post

[nocents] 02/5/2024 22:55

We are indeed not at all insulated from human impact. Grass roots look for another job and for some it may be tricky, ok, good or a relief. We can acknowledge that.
I have lost 80% of my worth by being in Trin 10 years-and mea culpa-I wish I’d never heard of them. As SR says, we suffer. I have put myself and family through Hell by taking out of the index fund. No insulation here.
Time out from bb for a while I feel.

[strathroyal] 02/5/2024 22:31

Re 3723 Well that's a weird post!! Insulated from the human impact of this? I don't think so, quite a few of us have lost '000s. Jacobin unlucky? again I don't think so, poor seismic surely, wasn't what was expected, don't see what was unlucky about that, more a reflection of the poor quality of the data.

[nocents] 02/5/2024 22:27

It may be a problem for some, it may be a fresh happy start for others. We can’t know . Each case is individual. But it is important to remember those at grass roots.
I think the fault does lie squarely with management though. Not luck or AIM. They are constants. It was a high-risk, erroneous, badly marketed failure. Appraisal well. And the previous dry wells, no horizontal, a year of mega-hedging, etc etc. Appalling neglect of shareholders led to sell-offs. It is their responsibility to know the nature of the index. So easy to whinge on a bb. I have done my fair share. But sometimes losing 80% of your investment through blunders not of your own doing does deserve careful analysis of who/where/how/why. I have seen such blunders in an increasingly improving oil and fiscal environment that I think I have said enough.
What is done is done.
Move on.
Let’s hope this affair actually succeeds and brings something positive, because ( after 10 years in Trin) I wish I had never had them mentioned , and never gotvinvolved in AIM. I should’ve left it in the index fund. Now that was fully mea culpa.
Let’s hope this venture succeeds because there is not even a guarantee of that.
But it has my vote, along with all the large shareholders but one.

[davidblack] 02/5/2024 20:40

Thanks, such is life. Although it’s still on the website.

[andrewbyles] 02/5/2024 20:35

Tabaquite produced very little oil, but Trinity previously announced an interest in producing “stranded̶1; gas from the licence. From memory, the quantities of gas were rather modest: they planned to use it for things like powering their service vehicles. After Bruce Dingwall died it soon became one of the abandoned plans. Last year the licence was returned as economic terms couldn’t be agreed (although perhaps that meant Trinity couldn’t afford to finance the government mandated exploration).

[davidblack] 02/5/2024 18:44

So given that TXP should have a flow of spare cash come September if this deal closes where would existing Trinity shareholders think that cash should go? Let’s say $3m a month?

I am a TXP holder and what previous caught my eye for TXP to acquire was Tabaquite which is contiguous with a new licence TXP applied for called Charuma.

Apparently the board liked Trinity a lot more than just that bit of ground.

[che7win] 02/5/2024 16:39

I'll also be voting for the deal with the 0.45% I've accumulated over past 2 days.

[andrewbyles] 02/5/2024 14:57

There’s not much more that can be said about Trinity.

Unfortunately, things haven’t worked out as hoped, but I think becoming part of Touchstone gives us an excellent opportunity to make our investment back and Trinity has done the right thing in recognising that. It’s a shame people are going to lose their jobs, but an expanding oil and gas sector in Trinidad (which is more likely with a stronger independent oil and gas company) will create new employment.

Having thought about it, I’m looking forward to becoming a Touchstone shareholder, with a 150p to 200p target (which would be equivalent to a Trinity share price of 225p to 300p). Unless a counteroffer (which doesn’t seem likely at the moment) is made in the near future, I’ll be voting for the acquisition with my 2.6%.

Good luck everyone with your next investment.

[che7win] 02/5/2024 14:31

I agree nocents, TXP should have $50m revenues from Cascadura next year, it should be sitting at 100p on that if / when we get there. Add in TRIN assets, another 20p?Compelling buy right now.

[nocents] 02/5/2024 14:20

Not sure I see TXP on a continuing downhill slide. They have potentially just acquired Trin for a song. Cash generated, no debt, huge tax exemption, no div (grrrr!!!) , no SPT, BA, sustained oil price, huge assets etc. For 60p!
Assuming it is not rejected, it has increased their cash and production plus potential massively. Short term fall back as people sell txp but results plus gas coming online etc are near term and not long term like BA.

[nocents] 02/5/2024 13:30

Correct. Txp is a stabilizer. Assuming the deal goes through. Not all large holders have approved it or the Special Resolution. I have not yet watched the TXP presentation but some of Trin’s assertions are quite morally quite infuriating to a loyal shareholder who was here before they were, I have seen the price come down from £1.25 a year ago to 33p last week due to their incompetence, and Mr. Clayton sings how fortunate we are , after having destroyed shareholder value since his arrival and negating the “set in stone dividend” due this month which has left me with a quandary. He even takes a potshot at bulletin boards. All the time the share price plummeted, their salaries did not.
So I will swallow my anger at his unwillingness to take responsibility, and just go with the flow. Whingeing ( justified or not) changes nothing.
It’ll be interesting to see if 75% is achieved….two resolutions…it’s not a given. Newlands own over 10% and have not committed.
Lots of variables here.
Perenco or anyone else unlikely to step in unless deal fails .

[skyship] 02/5/2024 13:24

Having listened to the Presentation it seems to me unlikely that Perenco will not have known that TRIN was available. Combined with the TXP prolonged downhill toboggan ride, which may not yet have finished; I've decided to sell down 65% of a considerably overweight holding. 140k sold; a mere 75k held for the time-being.

A nasty loss; but considerably less than the start of the week!


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[dunderheed] 02/5/2024 12:40

TzRin price will be linked directly with TXPs now unless something "unknown" occurring.

[princebuster2] 02/5/2024 12:36

Here comes the usual trin drop

[dunderheed] 02/5/2024 12:17

It allows the other companies to do that as well che7?

[che7win] 02/5/2024 12:13

One last thing, unlike oli, our gas production is on fixed contracts, one for Coho and one for Cascadura.The price may get negotiated at some stage, two other T&T companies have substantially higher gas contracted prices.But what it allows is for TXP to produce as much gas as they can and they have a ready buyer.So revenues are easily modeled and less risky / volatile compared to oil production.

[dunderheed] 02/5/2024 12:09

Strath do you know how big Perenco are?! If they wanted to buy TRIN "cash", they could easily get the debt for this, IMHO.
CHE7, they were incredibly confident about Chinook, coho and Royston as well?
In light of no production profiles information regarding Casca, I will wait interestedly to see if they are confident enough to issue plateau guidance for the two (Casca) wells in this years upcoming results?
To be clear though, this is a good deal for both parties but simplistically I'd have waited to get more cash and offer a cash and shares deal for TRIN which let's face it would probably have had a lower share price in few months time anyway?
As ever all IMHO.