Trinity Exploration & Pr... Share Discussion Threads

[nafafa] 16/3/2024 14:26

Far from inevitable with this present shower in control. Their propensity to screw up defies belief.

[nocents] 16/3/2024 14:26

“Any share can go anywhere”
A given.
There is no bottom to any share.
Except bust.
But let us stay real about the assets. P +P and C.
This is no pharma depending on trials or corrupt directors thank goodness.
Although one could argue it has become a lifestyle company with reliable salaries and “who knows?” regarding shareholder pressure. Surely they have to tell us about Jacobin sometime soon. 0 bopd or not.

[skyship] 16/3/2024 13:53

Logic dictates a sensible asset allocation strategy - so if already at your max, you just have to wait for it to come good; which in the case of TRIN does seem inevitable at some point.

[arlington chetwynd talbott] 16/3/2024 10:05

AQC888 - that is a classic TRIN mistake we have all made at some point. It can go lower still, for example when they finally come clean about Jacobin. There have been posts like yours all the way down from 180p. The market sees new lows as quite possible under this BoD. If you want a meaningful re-rate, get a new BoD with a new strategy.

[pavey ark] 16/3/2024 10:02

AQC888, Agree but it is difficult when you consider that you have enough (more than enough!!!).
From time to time the market throws up strange , bizarre valuations and I have seen companies with more net cash than their entire market cap .

Trin has a market cap of just over $18m and is heading for cash of over $10m by the year end.......c. 2700 bpd and Galeota for $8m .....hmmm....how strange is that ?

The funny thing is that I bought shares on Friday but NOT in TRIN.....logic doesn't always rule our decisions no matter how smart we think we are.

[aqc888] 16/3/2024 00:00

It’s always confusing to see a stock trading at a ridiculous discount- until it’s not. At which point one wonders why they didn’t buy more.

[arlington chetwynd talbott] 15/3/2024 23:19

Had a quick look at the nominee point. It can be done, as this passage suggests:

“Investors holding through intermediaries are not considered for the purposes of the Companies Act to be members of a company. This means that a number of shareholder rights (including requisition rights) are only exercisable by the CREST member. For investors to exercise these rights they must be enfranchised in some capacity by the CREST member.”

Obviously this all adds to the workload (but still totally worth it). The quote is from p.16 of this helpful guide:

[nocents] 15/3/2024 22:23

I was about to post the same. It’s now nearly $86…which means about $73.8 actual received price for the blended oil that Heritage sell Trin’s oil as.
That means a niceQ1 bonus.
Q2? We don’t want it at $90. Curious that Cavendish still have forecast oil for 2024 at $75 for some reason. Opec+ wants it higher.

[skyship] 15/3/2024 20:29

Brent @ $85

[nocents] 15/3/2024 15:56

They must have their reasons, but don’t have to tell us. They may know stuff we don’t. But they are also far wealthier than some of us and can afford to let it be.
To me, unless thrre is a cunning plan ( I doubt this), the CEO and BOD have shown themselves as not competent to make drilling decisions and especially market decisions. A new BOD would not necessarily be better, but could they be worse? A new CEO with depth of knowledge would be a start though.
A year of hedging, 3 dry wells. A dry deep well which was “sold” as an appraisal well, no news re. this well or Galeota, and NIL communication. Why not??
All the promises made at the last Investormeet, including better communications, have failed dismally or been broken.
How on Earth can Trinity O and E now sit at 36p??? With the fullest of respect intended to him and family here (I got to know him quite well) , I feel Bruce rolling over where he is. I hate to say that.

[aqc888] 15/3/2024 15:44

What is the logic behind the larger shareholders keeping this ceo in place? Trinity needs someone with a record of success to take the reigns

[arlington chetwynd talbott] 15/3/2024 14:12

Yes, nominee accounts are tricky, but I have looked at this before and seem to recall that there is a way through it. If the numbers start to come together I will refresh my memory on that one.

[nocents] 15/3/2024 13:49

Now 36p
Not a peep from the company and wexknow nothing about Jacobin.
I have just posted a call to shareholders on the LSE to join forces here. I doubt they will .
SKY, how are the share numbers, although we can’t know if people are being truthful.

[nocents] 15/3/2024 12:53

I think most people have just left it. I don’t think they are influenced. Even PA has come round to the crystal clear incompetence of the BOD, even if he does slag you off in the process lol !
I would still like that 5% to become real.
I have just posted a call to arms on lse but don’t like to stir discontent.
2.6% is not enough.
And you can’t count on people telling the truth re. their shares. And in a nominee account I believe they are not entitled to vote anyway.
The call for an EGM is symbolically very important though,and it needs doing.
Now 36p.
Enough is enough

[arlington chetwynd talbott] 15/3/2024 12:18

Fair enough. Can you think of any other names? I have already canvassed the ones I thought of and mentioned in my post (and have only heard back from Avsome). I am somewhat dismayed by the chilling effect that the non-cooperation of Ab76 has had on what SKYSHIP is trying to put together. If folk take the “it won’t work without Ab76” line, it won’t work. But if folk can just believe that they don’t need Ab76, they will get there without him.

[nafafa] 15/3/2024 11:57

Pavey your post 7207, I suspect you are correct and the cash build will be greater than forecast due to the buoyant oil price. Problem remains that the market and investors have no confidence in the BoD, particularly in view of hedging and Jacobin fiascos, which you make reference to in your subsequent post. I can't help but feel much of the problem is that the CEO appointment was wrong, he is an accountant not an oil man and is too easily influenced by those around him who like to play of being oil men, having little skin in the game when it comes to shareholding so not aligned to shareholders. Until this situation changes, I doubt very much we will see an improvement in the fortunes of the business.

[nocents] 15/3/2024 11:56

I have personal emails from seversl of them.

[arlington chetwynd talbott] 15/3/2024 11:14

How do you know?

[nocents] 15/3/2024 11:07

No. They have gone.

[nocents] 15/3/2024 10:17

This may be.
Newlands has been prosctive in his time and did oust the chairman of one company. Maybe soothed. Don’t know. When Trin resort to burying head in sand, everything is hypothesis. Still unacceptable. And they must be told this. I will email again today.
FWIW
I have been rather shocked by my education re. the hedging though. JB is an accountant by trade. Nice little boxes.Defensive boxes . I now see the massive error in it…wanting cake and eat it.
Since the demise of BD and loss of Tzm I have seen this company disintegrate in efficacy. 38p remains the lowest point in its history. Shameful shameful shameful.

[pavey ark] 15/3/2024 10:07

Re: large holders of TRIN.

I have fairly close contact with the management of one of my other investments and although nothing (absolutely nothing) is said that is not in the public domain I can get a sense of what is happening "we are looking at"..."it may be possible to..".

I am sure that the large holders can get in contact with management at any time so their silence suggests that they have been soothed.....calmed down.

There were reports that one had previously been a proactive shareholder in another company so unlikely to be happy here....unless!!??

As someone once said "I know nothing !!"

Another point regarding the "radio silence" is that it may be difficult to say something without saying everything but saying nothing is usually their preferred option.

[arlington chetwynd talbott] 15/3/2024 09:21

Gary was holding in August 2022 when he stopped posting and never said that he sold out. Neither did Avsome, though I messaged him yesterday and he confirmed that he has in fact been out for a long time. But just because folk have gone quiet you should not assume that they are out.

[nocents] 15/3/2024 08:39

I don’t either. What claimed message from Skyship?
I don’t see one.

Gary said he sold. Avsome too. Others don’t have to say when sold.. it’s obvious.

[arlington chetwynd talbott] 14/3/2024 22:07

Sorry, I don't understand.