Trinity Exploration & Pr... Share Discussion Threads

[arlington chetwynd talbott] 04/3/2024 17:32

nocents - there would be nothing to attack if he would just learn from his mistakes. But that is clearly not going to happen. When TRIN is at 10p he will still be urging folk to bear with this BoD.

[arlington chetwynd talbott] 04/3/2024 08:29

Ab76 - “something that Trinity’s management is unquestionably doing very well”

Really? You are sanguine about further exploration by this operationally inept BoD? You applaud anything they talk about doing, instantly forgive them when it duly goes wrong and wait patiently for them to offer you another bandwagon to jump on.

[arlington chetwynd talbott] 03/3/2024 22:18

Ab76 - that BA data you provided a link to is frankly scary and underscores the potential for further shareholder value destruction under this BoD.

[arlington chetwynd talbott] 01/3/2024 19:24

Ab76 - “we may have to wait to the Final Results”. In other words, sit down, you’re rockin’ the boat.

At this point, why should long-suffering TRIN shareholders be asked to wait for anything? WTI is currently trying to help - does this useless BoD not have the decency to throw something, anything, into the mix? A resignation letter or two would be a start. Otherwise it’s high time for a mutiny. Pitcairn Exploration anyone?

[nocents] 01/3/2024 16:49

JP Morgan may have an agenda. In 1972, oil rocketed because of the Suez Canal and 6 days in 2021 by a vessel The Ever Given I think. I would only count on a serious Middle East Conflict to lead to anywhere near that price. And Russia has plenty of spare capacity. Pinch( ton) of salt.

[lexus880] 01/3/2024 14:27

Dear Reader,
I don't know this for a fact just something I read recently:

The most powerful investors in the world are loading up on energy investments.

Warren Buffett invested over $50 BILLION.

Billionaire Ken Griffin increased his holdings by 150%.

Carl Icahn has made a billion dollar bet!

Why exactly?

It may be because they see a continued rise of oil on the way.

JP Morgan analysts have pegged the future price of oil at $380 per barrel.

That would send oil companies skyrocketing.

[lexus880] 01/3/2024 14:24

do we produce anything? Looking at the SP, doesn't look like it.

[sleepy] 01/3/2024 07:20

Thanks Andrew but I see it took them only a week less the previous year

[sleepy] 29/2/2024 22:04

“The culture of “not doing anything on Monday if it can be done on Friday, and not doing anything on Friday because it can be done on Monday””.

Why did it take them 5 full months to produce their annual results last year?

[nocents] 29/2/2024 21:41

Absolutely not inferring that large shareholders are nonchalant. I have no idea one way or t’other Andrew. I would certainly not think they did not give a hoot! I am encouraging of joint efforts to bring about positive change.
Re. communication, you put it exactly as I meant it. I have asked Vigo for communication re. Jacobin. What you have written would be straight off the chopping block for Trin. It is exactly what they seem to be nonchalant about. Any communication whatsoever. 6 years ago they were using social media like Twitter and then it disappeared. I would love them to read your above post. Wish I could send it myself. Yes the fall in share price is truly appalling. And for real reasons.
There is a lot that Trinity could be doing that they are still not doing. Next to the expensive, perhaps gung-ho deep drilling( better in Forest/Cruse!!) the lack of thought given to the communication which is how the world operstes these days. You can take a horse to water…..The nonchalance seems to be in Trin’s willingness to communicate and now refusal to directly engage( aside from in meetings)
What will it actually take in reality to see this investment genuinely recover? You and others have put it all down on paper. So many times! Sigh.

[nocents] 29/2/2024 10:49

The difficulty now is the return to lack of communication. We should hear Q1results in April and FY in May. But the absolutely laughable share price reflects lack of confidence in management decisions and what they promise. Why are we not updated re. the pump or the Jacobin upper strata testing for production? I am not sure that change of management is the panacea. It may be. I don’t know. No matter what we do, we can’t seem to get them to communicate on a real-time basis though.
I have emailed Vigo, but even this never used to happen!! Trinity would answer emails personally. This hands-off approach is pure defensiveness.
I think sinking back to 40p just brings out the grinch. Trinity’s slump( after personal massive losses in 4D and Ncyt) have changed life this end dramatically.
Jacobin was sold in a great fanfare as a 63% appraisal well. Looking back, how amateurish that was.
2024 could just be dead-zone without some kind of action. I hold a twelfth in value of 2018. Losses have devastated life and more importantly health. For the first time in 10 years, I have lost confidence in the company and, although I may well be talking tripe, I would consider any action whatsoever if I thought it could revive the share price….and along with it, life and mental health.
So, it seems to be just a waiting game but not sure what we are waiting for. I doubt news of a farm-in for Galeota is imminent. At this price, how foolhardy to self-fund Galeota. Risk would go through the roof. No onshore drills( so much for Hummingbirds). BA not until next year I would say. April results would reflect no hedging, no spt at all and a good realized price around $68. May results ..we know already. If Jacobin were going to pay for itself, it would be yielding something. It is March. Why do we know nothing( except for a pump)?
According to asset value, we should be at £2.
40p. What is going to change this?
Newlands? Segel? Winther? Castro? Etc. They need to unite to bring about change. I don’t believe they are inactive, but , as ACQ says, are we past the point of no return here? Do they need to bring radical change if no clear plan is in sight??
I need the share price to rise 200% just to break even. Life has become unexpectedly very tough , and I am not sure I see any clues ahead as to the way forward, apart from the spt bonus. That won’t bring us back. News of a partner( anyone interested?? Hello Perenco!!) . ANY news on Jacobin whatsoever. Any communication would be nice!
“ Shareholders of the world unite” K.Marx revisited
I may be wrong about much I write. But we sit below the 55p (5.5p) of Covid Lockdown and at the level in 2016 when Trinity was on the road to Administration!
So where to from here. Communicate please, Trinity.

[aqc888] 29/2/2024 09:12

AB, why do trinity need to bring in a partner to help with “confidence in their drilling plans”? Wouldn’t a better way to achieve confidence be with a change of leadership? Also, couldn’t the production pump be a desperate attempt to restore their personal reputations, that have suffered heavily after Jacobin? I don’t think “business as usual” is an option any more. Even Hugh oil prices and big tax reforms are not helping the share price…

[arlington chetwynd talbott] 29/2/2024 08:22

Ab76 - "At the December presentation, Jeremy Bridglalsingh said that Jacobin will eventually recover its cost." How is believing every single thing JB says working for you?"Furthermore, it is a nonsense to suggest ... that Trinity is spending money on things like installing a production pump just so that they can fail to generate any production." You will have to revisit that statement when the pump duly fails to generate any production.

[arlington chetwynd talbott] 29/2/2024 08:12

AQC888 - "Trinity is pumping out cash with the good oil price and reduced SPT tax. They'll have to really put their minds to it to mess up now...". TRIN never seems to pump out cash in the way people on BBs imagine. And you should have more confidence in the ability of this BoD to mess it up.

[nocents] 28/2/2024 21:00

Hedging was just too defensive and unfortunate. JB used to be an accountant and was very cautious on put/call options and hedging. That caution did not translate to the drilling business though. Bruce was the main man re oil. Surprised Menzies made such a bad call on it though.
The cash will balance losses to a degree, but they really did flush dollars down the pan. Nearly-but not-as bad as Eldorado at $10m. Jacobin may yield no oil at all though. However, I can’t quite see logic in selling at this level as some people are doing. Even 10 months of cash-build would really strengthen Trin’s position even if it makes us that much older. 40p?? Please. 4p in old money. Well below Covid Lockdown levels. They really did fluff it bigtime and have a lot to live up to.