Trinity Exploration & Pr... Share Discussion Threads

[nocents] 26/4/2024 10:22

It is up to the large shareholders to call an EGM or vote him out at the AGM if that is possible. Enough is enough. The RNS was not even proof-read. And zero explanations for costing. Beano statement.
And almost $500k a year salary. As was said about Boris..” For God’s sake man, go”!
Shareholders, for God’s sake ( our sakes actually) DO something. Do you really trust open-ended promises about Galeota ( proof please?) or BA( licence not formally awarded). A new initiative re. 150 wells?? Why?? If you trust anything JB says any more, then you are truly foolish.
Come on. Unite and bring change. We will be here in a year otherwise, I have little doubt. No timelines re. Galeota. Just the age-old vacuous Trinity promises that never happen.
We don’t even know when this Investormeet is?!
Come on now!! Instigate change NOW not in 6 months when we will get another wet RNS and the CEO will have made himself $250k richer. Utterly outrageous. So is doing nothing about it!!!!

[strathroyal] 26/4/2024 09:50

As I suggested, results on a Friday pretty woeful. TRIN has 4 people within the company who would appear to be more qualified to lead the company than JB (JM, JK, MK and AG) in view of their oil business backgrounds so why is he still in situ? The company cannot improve whilst he remains.

[nafafa] 26/4/2024 09:12

Very poor update looks like a cut and paste job. No consideration or sensitivity to the concerns of shareholders. In view of the dire state of the business, RNS poses more questions than provides answers. Now surely, must be the time for small shareholders to unite and take action before it is too late, if not already!

[andrewbyles] 26/4/2024 09:01

Jeremy didn’t take home $1 million last year. In 2022 his total remuneration was just over $1 million, but more than $600,000 of it consisted of gains on share options and LTIPs. Those gains have been wiped out as a consequence of the significant fall in the share price. Nevertheless, the board should be taking large pay cuts this year given their poor performance.

[nocents] 26/4/2024 08:30

JB should hand his bonus back. He took home nearly £500k last year. The company has become a lifestlyle company abusing and neglecting shareholders and milking profits.
If those who have the influence to bring about change do not, then they themselves are complicit. This was a feeble empty RNS. No explanations on cost, dividend etc. As I suggested, a vacuous RNS.
For goodness sake shareholders, unite and replace the CEOo who is useless and the lifestyle board . Utter disgrace.

[aqc888] 26/4/2024 08:17

Time for some action AB?

[nocents] 26/4/2024 08:17

He should give his bonus back and be replaced. Inept.For goodness sake large shareholders. DO something.
Don’t just leave this lifestyle company abusing shareholders and milking the profits. You are now complicit.

[kaos3] 26/4/2024 08:04

lol to the other trin bb

reality strikes. reality is just for the strong....
and honest

[aqc888] 26/4/2024 08:03

He got a bonus?!?!???

[ashkv] 26/4/2024 07:54

Jeremy Bridglalsingh TRIN CEO has imho grossly excessive compensation for a firm of TRIN's Market Cap and operational/share price performance!!! Disgusting!!!

WHAT HAS THE SUIT ADDED!!! AUTOPILOT WOULD HAVE BEEN PREFERABLE!!!

From Page 48 of TRIN's 2023 Annual Report ->



Base Salary 300,000 273,750
Taxable Benefits2 20,417 20,417
Annual Bonus 75,000 138,000
Pension 30,000 27,375
LTIP(s)3 141,484 132,908
Gain on exercise of Share Options4 446,520 —
Total Remuneration 2023 US$1,013,421 2022 US$ 592,450

[skyship] 26/4/2024 07:50

pre-market suggesting another fall !!!

[orbit007] 26/4/2024 07:48

' Operating break-even is the realised price/bbl where the adjusted EBITDA/bbl for the Group is equal to zero.'

So clearly if you are producing off a lower base the break even would go up no?

Ok granted the point about lower realisations feeds into the lower cashflow but the lower volume does impact breakeven - so wind your neck in

[ashkv] 26/4/2024 07:44

WHAT HAPPENED TO THE PLANnED HORIZONTAL WELL??

[ashkv] 26/4/2024 07:43

The absolute geniuses on AIM forums ->

Haha what does oil price have to do with "Cost Breakeven"... oh my :) haha

Orbit00726 Apr '24 - 07:38 - 7390 of 7390
0 1 0
-Breakeven increase - I think its less about the cost increase and more about the realised price of oil and production declines vs Q4. I calc. the effect as approx -$400k for oil price and circa -$500k lower oil production

[orbit007] 26/4/2024 07:38

-Breakeven increase - I think its less about the cost increase and more about the realised price of oil and production declines vs Q4. I calc. the effect as approx -$400k for oil price and circa -$500k lower oil production

- The plans for Buenos Ayres and Galeota Development - right idea to prepare them for sale or farm out but too slow - how in the world is it taking that long!

- Jacobin well - I guess about a month to know how that will flow, needs to come good now on this recompletion

- Dismay that the presentation has been pushed back seemingly. Given how much they get paid, its not really on to push the update out without the promised call, unless something is going on in background re: a bid for the company, but who knows.

[langland] 26/4/2024 07:25

TRIN needs to be taken out. Not only would a new manager get better results but the owner would save considerably on central costs. Shareholders are paying too much for an ineffectual board and management.

[ashkv] 26/4/2024 07:14

Wow crazy cost escalation - even taking into account production freefall!!!

Operating break-even2, pre-hedging1, Q1 2024 of USD 44.3/bbl (Q1 2023: USD 35.4/bbl; Q4 2023: USD 39.8/bbl).

25% BREAK EVEN COST ESCALATION YEAR ON YEAR!!!!

THERE IS SOMETHING ROTTEN ABOUT TRINITY EXPLORATION AND ITS MANAGEMENT!!!!

SOMETHING DRASTIC HAS TO HAPPEN SOON!!!

Even in this oil price environment and with no significant new drilling in Q1 2024. CASH WENT DOWN!!!

[strathroyal] 25/4/2024 10:06

If the update is to come out this week as recently stated, we only have Friday left, a day often reserved for bad news so presumably they're not getting rid of JB!!

[nocents] 25/4/2024 08:24

Well they are spinning this out out, aren’t they.
I did suspect it would not arrive in a timely manner.

[nafafa] 25/4/2024 07:32

No results, no great surprise. Symptomatic of the disdain they have for shareholders.