Trinity Exploration & Pr... Share Discussion Threads

[princebuster2] 15/4/2024 16:43

Trin is to shares what Yoko Ono is to singing!!

[aqc888] 15/4/2024 16:05

Perhaps AB will join the 3% now. It would certainly seem nobody is going to back this management whom have hugely bloated salaries, since the death of Bruce, yet no spare cash to buy any of their company that has seen its share price plummet. A disgrace.

[nocents] 15/4/2024 15:46

I darned well hope so. £500k p/a for this mess?? 5 NED’s doing nothing. 3 new highly paid execs fluffing it at every turn.
Shareholders unite.
Mr. Newlands. Mr.Winther…..liaise I dare you and make change happen. We can rustle 3% together here.

[langland] 15/4/2024 15:39

Agreed...time for corporate action. Maybe someone is already looking.

[nocents] 15/4/2024 15:25

S the pie. I don’t think clayton is botherrd tbh. He does not ooze tlc for shareholders. The ceo should just go. The other hangers-on are just leeching profits and should go too. In fact the whole lot should be replaced and the major shareholders are seriously complacent in this respect. They are themselves being hoodwinked. We are below Noddy and Big Ears pocket-money share price.
More excuses next week. More faux-promises. Quite honestly, the whole company should be marketed and sold, but at £500k p/a do we really think the ceo is going to be promoting that?? Nope! Expect more cotton wool excuses next week.
Shareholders….get your act together and force change for goodness sake. Messrs Winther and Newlands…do it. The bod have shown their mettle. Ain’t gonna change.
Btw, 2653 bopd assumes zero production from Jacobin (quote “ which will eventually pay for itself” unquote)Rest my case M’lud.

[nocents] 15/4/2024 14:23

Sleepy:- I did consider that.
I also considered it as being ratification of discussions which may have already taken place. All hypothesis. But today was an advert for the proven reality of Trin’s assets. Let us not forget that Cavendish increased their target price to £3.47p” Including the 38.7mmbbls of 2C resources into our valuation highlights Trinity’s upside potential if funding was available, increasing our target price to £3.47p, a significant c8.4times the current share price”. Nota Bene M M’s , who have slumped this. There has been a lot of buying, but this is what AIM does.
Let us also not ignore Cavendish’s revision of 40% higher net cash at year end and an almost doubling of free cash flow to 33%. They foresee no SPT but they may be ignoring that it is a quarterly average . Q2 is already at $ 76.7 AR price since April 1st. Nevertheless, these are friendly figures. I assume Trin had to relegate 2p obsolete fields to zero or 2C. I doubt they would choose to do it, although they do aim the pistol at their own toes with regularity as a habit.
It seems, as you say, like a cheap advert.
That, or Trin are more a bunch of lemmings on the march to the cliff than I ever thought.
FCF and net cash increase are worth noting though, as is the revaluation to 3.47p if funding for Galeota were available.
Trin are notorious for finding dirt in the diamonds but Cavendish are very precise these days.
Thoughts welcome.

[slicethepie] 15/4/2024 14:07

The chairman should being doing his job and assessing the competences of the various execs, they are overpaid for what they have delivered and in the case of the ceo he is probably not upto the role. I am disappointed that Clayton has allowed this to go on for so long perhaps he is lacking in the skills to run a board or is being hoodwinked .

[ashkv] 15/4/2024 11:46

Indeed I was also excluded by the dreamer PaveyArk... Imagine that...

Imagine TRIN

"Imagine there's no heaven
It's easy if you try
No hell below us
Above us, only sky
Imagine all the people
Livin' for today
Ah

IMAGINE TRIN AT 250p

Imagine there's no countries
It isn't hard to do
Nothing to kill or die for
And no religion, too
Imagine all the people
Livin' life in peace
You

IMAGINE TRIN AT 250p

You may say I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will be as one"

[nafafa] 15/4/2024 11:02

Agreed, management must now be forced to recognise that they need to manage the business in the interest of the beleaguered shareholders - sell unexploited assets, focus solely on base production paying out all profit as a decent dividend and get rid of excess baggage directors, particularly those focused on exploration who have so miserably failed. On annual base production of 1m barrels at least $15m would be available for distribution to shareholders. Then, once base production has been economically exhausted they shut up shop. Perhaps AB even now recognise that he needs to support shareholder action before there is nothing left.

[milanista11] 15/4/2024 09:48

At Interactive Brokers TRIN trading was halted at 9.40 a.m. share price 36.00p
Such a strong decline with trade interruption occurs only at a negative main event.
What is going on? But maybe there are no buyers because all have lost faith in the company and there are some investors believing the company is tanking and they sell at all cost to save the little that remained.

[milanista11] 15/4/2024 09:35

The pay of CEO and the 5 directors have been doubled since the death of BD.
CEO around 450000 Gbp p.a. directors 100000 Gbp each. The reason: to adapt the salary structure to similar enterprises as TRIN. Now that the share price shrank 75% I would expect they adapt to the bottom they have created.

[sleepy] 15/4/2024 09:35

Do they update on reserves every year?

[milanista11] 15/4/2024 09:18

Today just after openings a debacle, yesterday 40/44p,today at openings 36/40p
some minutes later 33/35p. It is a nightmare. Where are the market makers?

[aqc888] 15/4/2024 08:59

At least everyone will now be in unity regarding what next for Trinity…

[strathroyal] 15/4/2024 08:32

This was the last comment released by TRIN on Galeota, just 2 months ago:

The initial results of this study are encouraging, and a third-party technical review of Trintes infill wells is now in progress, alongside facilities assurance planning.

And yet people still write on both threads that AIM has got the price wrong, ostriches are a thriving species!!

[ashkv] 15/4/2024 08:27

Bummed for the long term investors - I have been in the past an investor in TRIN for two extended periods. The first dip was a very profitable investment.

The second go - I thankfully got out at a small profit in what was prior the 10s for TRIN.

Jeremy B - the CEO has to go!!!

Overpaid, misleading communications, poor strategy - WHATEVER HAPPENED TO THE HORIZONTAL WELL THAT LONG LEAD ITEMS HAD BEEN ORDERED AND WAS SUPPOSED TO INCREASE PRODUCTION CIRCA 200 Boe/d??? (as I recall/please correct)

Also poor hiring by the CEO - if I recall TRIN hired in 2022/2023 an exploration Director working in Asia - who has proven to be absolutely incompetent!!!

TRIN should undertake a manner of BLVN strategy - fire most of management / high admin costs and squeeze the profitable assets / return cash to investors in the form of buybacks and dividends!!!

Rest is a waste!!!

[langland] 15/4/2024 08:21

Amen to that.

[andrewbyles] 15/4/2024 08:19

Trinity doesn’t appear to have the resources (financial, managerial or technical) to exploit its assets. It’s tried to develop them, but appears now to achieved little more than an expansion of its cost base (at least three expensive managers have been taken over the past couple of years, adding a few hundred thousand dollars per year in cost).

Trinity’s AIM listing, which includes the need for five non-executives, is an additional cost.

Trinity’s biggest assets is it tax losses, but it now seems less likely that it will create enough profit to benefit from them.

A sale to a larger company would address the resource problem, cut costs and allow the tax losses to be utilised. It would also provide a way out for a shareholders, which I suspect is now being looked for.

[langland] 15/4/2024 08:13

Now valued at little more than 1$ per 2p reserves not to mention existing cash.

[pavey ark] 15/4/2024 08:09

This will probably hit the share price again but must be limited with year end cash predicted at 22p / share.Disappointing but easy to see the reduction as they must have had infill wells contributing in their future plans and these are now uneconomic.........they aren't going to drill infill well in the future.Galeota has been cut down but that could be part of the sale/development plan ??Nothing drastic here but once again it isn't a positive announcement .Plenty of hints in the new Cavendish update ( careful reading required) so we will find out next week.