Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 17/7/2018 10:30

I have been told the Share centre is yet to allocate and return money (family member uses them).

This good will gesture is turning into a complete mess. I presume it was done to prevent people saying this was a heavily discounted placing to benefit management and insiders (yesterday’s RNS closed that off for me). However we are still having people saying that and few are happy with their allocations. So we are worse off than had it all be closed and done and dusted a few days after the announcement. I personally think we would have barely dipped below 20p and by now would have it well behind us.

[otemple3] 17/7/2018 09:08

ii say delays but will get shares before the 20th!!??? Crazy - why only them

[dunderheed] 17/7/2018 09:00

Its not peculiar its absolutely ridiculous.

[acsatix] 17/7/2018 08:51

Just for the records: Interactive Investors have not delivered the shares yet :) it starts to look even more peculiar.

[dunderheed] 17/7/2018 07:49

It's just a full stop lol.

[mesquida] 17/7/2018 07:29

The pinball post to which you refer, Dunderheed, is not showing on my screen

[pinkfoot2] 17/7/2018 07:18

Correct-without the Fundraise,the capex programme would have been under a bit of pressure in my view.We can debate the timing but the fact is the company is now very well positioned, debt free and plenty of cashflow.I would rather raise money on the front foot which is what the BOD have done.

[dunderheed] 17/7/2018 07:16

I do find your posts exceptionally informative pieball, this mornings another very good example.

[che7win] 17/7/2018 06:44

They messed up. The share price had hit 27p this year, on the Friday OPEC had announced their increase and oil stocks including TRIN were rising. TRIN was heading upwards to 21p and would have risen to 27p as other oil stocks the following week rose.The dilution was excessive, they should have waited and raised money at 30p+.All they have done is put a cap on things and underplayed their currency (share price). Very poor.

[whiskeyinthejar] 16/7/2018 22:06

It depends how you look at it.

Without an intensive capex program, Trinity had enough cash in the bank to pay off the debt.

However, if you say that cash is bank is committed to capex, then Trinity did not have enough money to pay off the debt.

The latter sounds bogus because there's been no heads up prior to placing of any such commitment.

But Ive thought about all this, and I do believe that this continuous drilling program is actually such a good idea that it is critical to commit to it now and not faff around doing a drill here and there. Particularly as it doesn't sound like they had the cash to buy the 3D seismic study and get on with horizontal drilling.

Even better if there's a decent aquisition they can do with the cash raised.

[pinkfoot2] 16/7/2018 21:35

I’ve read the presentation again and it’s very clear this fundraise was about cleansing the balance sheet and pushing on with a new drill programme-and have a nice buffer in the balance sheet.Fees in high side but not massive.

I doubt a rights issue would have facilitated this without the same discount

[mesquida] 16/7/2018 20:55

Pinkfoot2, obviously we needed to sort out the convertibles and thus limit the dilution, but surely the convertibles could have been paid off out of operational cash flow. What we now have is a significant dilution ( admittedly not as severe as would have been the case if the convertibles had converted on the original terms ) but perhaps more worrying is that we have a total loss of goodwill in the minds of many private investors in the Company, and that loss of goodwill might take quite some time to repair. But I do not blame the Company, rather I blame the brokers and the Stock Exchange for allowing the whole fund raising process for small companies to so spectacularly fail the private investor.

[pinkfoot2] 16/7/2018 17:51

Not being difficult-just giving my view which is very positive.I have learned many times to learn from history but not the and reinvent it-better to look forward and this is no different.The same goes for AAOG where the BOD have or I hope have learned from their errors.

Good luck all

[diseasex] 16/7/2018 16:38

Last operational update was 16.04 on 7am. When do you think we will hear about current operations ? If followed that logic it should have been today morning.

[marvelman] 16/7/2018 14:14

pinkfoot...I see you are determined to continue with pushing your view which has been discussed and put to bed by most posters on this board. I have been around long enough to know about the "naughty convertables" thank you and of course the balance sheet is much more robust...my hard earned has gone into help making it so. I do not intend to pursue our one to one any more so I say politely thank you for your view and give you my regards.

[acsatix] 16/7/2018 13:57

for the records: the company raides 20 m and paid 1.4 m in fees... so 7% went to the arrangers..

hardly peanuts... a ights issue would probably run this this ballpark or less as it is a rather straightforward process rather than this cumbersome two stages placement one of which was requiring same effort as a rights issue for just 2m usd (I think it paid for the fees in fact, as probaly it costed quite alot to run itself... totally idiotic if you hear me)

[pinkfoot2] 16/7/2018 12:43

Would you rather they left those naughty convertibles in play at 6p per share which were due to convert in 2019?

The balance sheet is much more robust after a general tidy up

[marvelman] 16/7/2018 12:28

Rather a fortune in fees than 28% of my holding wiped out overnight Pinkfoot. You have your view on this although it does appear to be at odds with most posters here but you do have a view and that's your prerogative.

[nafafa] 16/7/2018 12:28

I am still waiting on iii, when I chased this morning they said that they were still waiting to hear on their allocation from Trinity

[pinkfoot2] 16/7/2018 12:16

As part of the Placing presentation-the BOD did do a limited open offer to give all the chance but a full blown rights issue would have cost a fortune in fees.

I have to say they presented extremely well and the plan is very robust.

[archie61] 16/7/2018 11:51

pinkfoot, glad you got a large chunk some of us got next to nothing! when did you quiz them on it?

[pinkfoot2] 16/7/2018 11:37

I know why the raised the cash-i quizzed them on it and am happy enough.We are now well funded and absolutely going forwards so relax

[melody9999] 16/7/2018 11:26

BODs will always be insiders. Here at least they have skin in the game and have also suffered.

But I get your comments wwick / marvel...

[marvelman] 16/7/2018 11:21

...they do unfortunately, Pinkfoot but we were hoping these were different. I doubt whether many would ever "get behind" this BOD after the debacle suffered by most PI's. However, it is certainly time to draw a line under this event and wait to recover our investment with hopefully a premium to it.