Trinity Exploration & Pr... Share Discussion Threads

[awise355] 06/1/2017 11:36

Good question mark in was a caza fan if they had survived if only prime Permian territory they had

[mark10101] 06/1/2017 09:57

Rossannan can you explain to me what you know on PANR that gives fair valuation of £170m. I was in CAZA a few years back and they were a slick outfit regularly hitting 1500bopd wells in the US (possibly the best licences in the whole of the US for fracking) with a similar working interest and maintaining monthly production around 1500bopd (the dreaded decline rates) They never got an enterprise value above £70m with MCAP in the £20m-30m range and debt got them in the end robbing the share holders left. PANR on the other hand is producing nothing, getting drill bits stuck and promising JAM tomorrow. I have no financial interest in PANR just trying to understand market dynamics.

[jungmana] 06/1/2017 09:28

If there is to be fair value today compared to the likes of rrl and lgo, then I would say £100m+ ( about 40p).Big players will be watching

[mark10101] 06/1/2017 08:20

Ross, have you ever looked at PANR? Would be interested in your views on that valuation. £175m no production, 50% working interest, a few failed drills and regular dilution. Defies logic to me but they have held a large MCAP for a while now.

[mark10101] 05/1/2017 23:24

Fair enough, similar tactics to me although I probably won't be selling at 20p. However I don't expect that will be on the first day anyway more of a short term target which may not be hit or may be obliterated.

[mark10101] 05/1/2017 17:13

Rossannan, where do you think it will be if not 20p (seems fair value to me and a long way off the extreme overvaluation of many.

[jungmana] 05/1/2017 13:00

If market is to treat us fairly we should be 20+p next week. Look at RRL also in TT with just 800bopd and market cap of about £35m today.In addition we have far better projects and licences in TT.

[mark10101] 03/1/2017 13:00

WTI doing its bit. Is the consensus that we will relist Tuesday?

[mark10101] 29/12/2016 18:59

Yes we could get some giration around the placing, in some ways that will be good as having a massive gap up may not be best for long term stability.

[jungmana] 29/12/2016 11:08

Another step forward. Trading must resume by 12 the January or company delists according to aim rules.Not long to go.

[mark10101] 23/12/2016 23:19

Yes but we have trade recievables surely to achieve the net liabilities of $9.2. Genuine question are you worried we wont receive them leaving the liabilities much higher.

[mark10101] 22/12/2016 18:55

-- The like for like net debt position (outstanding debt plus long term liabilities plus current liabilities minus cash minus current assets) will reduce from US$35.5 million as at 31 October 2016 to a pro forma net debt position of approximately US$9.2 million post-completion of the Restructuring. The equivalent net position excluding long term liabilities would be a net cash position of approximately US$4.5 million.

$9.2 is 5 months margin at current oil price, I think it is hard to find a business with income this strong with less net debt.

Rossannan would you consider selling at the placing price? I know there was a chap offering 0.5p a month or so ago, I am happy to go 10 times that with information available.

[jungmana] 22/12/2016 17:25

Rossannan .after this deal citi debt is cleared and the vast majority of our other debts ( especially the TT tax owed) will be gone. I believe trin will resume trading between 6 and 10p. Then will rise in a few weeks to about 20p.Good luck to us all.

[jungmana] 22/12/2016 14:04

Well said Mark. Rossannan, compare Trin to another T&T minnow LGO. That company has market cap of nearly £10m today on a small production of about 500bopd ( a fifth of ours).Then how much would you value Trin ?