Trinity Exploration & Pr... Share Discussion Threads

[marvelman] 29/6/2018 09:06

Bones, if such a reason or other underlying factors lie behind the decision then that of course is an entirely different conversation....please let that be so :-))

[deeppockets] 29/6/2018 09:02

Paul Baay at TXP also mentioned some Venezuela assets may come up soon so perhaps they want to have money available?

[bones] 29/6/2018 09:00

MM, I think the one factor which might have forced the board's hand was the mention that new licences in T&T are upcoming for bidding in Q3. Perhaps there are other opportunities also that could not wait until end of year. Strike while the iron is hot and assets are cheap is (I hope) the board's prerogative here.

[marvelman] 29/6/2018 08:51

MT

IMO there is no doubt that the BOD decision to go for a funding will have a long term benefit to shareholders. However, I believe the frustration of being constrained by the obligation of paying off debt and then the CLN's before the company can step up a gear has been a motivator in the precipitous placing we have all had to pay a hefty price for. From my observations it would have been possible to have paid off debt and the CLN's before the maturity deadline using money available and current cash flows. A placing at that point, I am sure, would not have been done at such a costly discount. We are where we are due to natural market forces whereby all investors know that the share price will gravitate near to the placing price as many current investors sell in anticipation of acquiring a cheaper entry combined with the overhang factor. I need to have patience now to see a return to my investment status quo which is something it seems that the BOD could not manage to allow themselves. This is an ok BOD which have made serious and costly mistakes in the past and so they are far from perfect in their judgements and this latest decision I believe was another misjudgement. However, they are certainly capable of moving this company to a level more appropriate with regard to their assets and financial strength and my patience will endure in order to see that corollary albeit with gritted teeth.

[bones] 29/6/2018 08:36

Overall, now that TRIN is debt-free and cash generative, none of that is in the share price.A re-rate is inevitable so long as the management doesn't foul up the investment of the new funds!

[bones] 29/6/2018 08:19

MT, maybe it's to do with TRIN's older history on the market and the traumas that many of the shareholders went through? The company maybe has a lot of suspicions (based on its recent near busto experience) to shake off and many older shareholders sell at the first sign of a wobble?The time is coming when that background gets forgotten and TRIN is rerated on its current merits.

[mount teide] 29/6/2018 01:16

In early May TRIN was 27p and TXP 13.5p.

In late June TRIN and TXP are both 15.5p!


How comes TXP can get away a placing away at a 12% discount, that was a greater percentage of the market cap than TRIN's proposed placing, yet TRIN can only get it away at a 45% discount to recent highs?

[diseasex] 28/6/2018 16:13

around $84k which translates to £64k

[deeppockets] 28/6/2018 16:07

So each $1 the WTI goes up, that's nearly $100k per month extra revenue (before costs)!

[spellbrook] 28/6/2018 15:43

Mark10101

May need to extend the chart up to $80 oil scenario soon

[the big fella] 28/6/2018 15:40

Perceptions can change fast with WTI motoring as it is, $73.50 atm.

Ironic as without the fund raising we may well have been pushing 30p anyway with the current prevailing POO.

[mark10101] 28/6/2018 15:22

Perceptions can change fast with WTI motoring as it is, $73.50 atm.

Like the first 4.96p raise (this is much smaller proportionally) people took profit at 15p. Let’s hope it is a rerun. Your tempered view is needed and your fear late last year about a fund raise proves to have been founded!

However we both agree 15p is a total gift for anyone spotting this anomaly and capitalising on it.

[diseasex] 28/6/2018 15:21

I'm just hoping this large turnover will create floor , not ceiling hehe

[makingmillions] 28/6/2018 13:21

Rosanna I read it that even the open offer shares are guaranteed to be subscribed for if not taken up. So whole amount is not affected if price drops lower.

[mark10101] 28/6/2018 13:05

Ross, you had the overhang theory when we had the major placing at 4.96p, it did not stop us getting to 18p within 2 months. I am not saying we will achieve 45p in this run but I think we will going higher and faster than most are predicting atm (same as I argued with you in Jan 2017).

[bountyhunter] 28/6/2018 12:31

that might help :)

[bones] 28/6/2018 12:30

I think it was mentioned that an operating update will be published in first two weeks of July.

[bountyhunter] 28/6/2018 12:25

yes I agree and suspect there will be an annoying overhang for ages only to be broken by positive news/production figures

[mark10101] 28/6/2018 11:59

This is how it will be until placing is completed, any rise will be sold into. However once the dust settles I am confident 20p will be seen as cheap still.

As pointed out with cash in the bank our fully diluted enterprise value is £43m! On Monday, as I said then and still believe, our MCAP should have been significantly higher than Fridays close with the position the company is now in.

This is just a phase we have to go through until all is sorted. I made a nice purchase this morning, very happy to partake in this quirky phase.

[diseasex] 28/6/2018 11:15

2 more weeks of this ;/