Trinity Exploration & Pr... Share Discussion Threads

[skyship] 01/5/2024 09:12

Buying more at a 10% discount to the lowball TXP bid.

Has to be a very good chance of someone else entering the fray with a knockout 70p cash bid.

If not - then accept the bid and wait for a recovery in the TXP/TRIN combo...

[skyship] 01/5/2024 09:01

nocents - PB?

[nocents] 01/5/2024 08:57

I am with Ab here. To sell Trin at this low level is appalling and I am amazed that the big shareholders have accepted it. I have followed PB and TXP since their arrival in T and T and attempted acquisition of West Coast in 2016 blocked by govt. Much more dynamic company. They had a well failure recently too though. Very ready to rely on Placings. One recently. I am at £1.29b/e here so the ride will be interesting. Trin was worth well over £1 though so it is a real sell-out.

[junky monkey] 01/5/2024 08:37

Guess I should invite you lot into the TXP discord now. There are a couple wiki channels for Trinity stuff, feel free to post any relevant info you have there. If you’re easily offended or woke, the Discord isn’t going to be a good place for you. Have fun.

hxxps://discord.gg/JTUEtd6j

[che7win] 01/5/2024 08:29

Skyship, As a TXP shareholder, I can honestly say I think TRIN shareholders are getting a steal.Because of one thing - Ortoire and specifically Cascadura.TXP production is forecast to reach 14500 boepd by end of this year, you guys will be joining the ride at the best time in 3 years.So I'm not happy for that reason, but see tremendous upside for both shareholders - you're getting an extremely fair deal from my side of the house as a TXP (and former TRIN) shareholder.

[skyship] 01/5/2024 08:12

As I posted in 7262 5weeks ago:

"Might there be any logic to a bid from Touchstone (TXP)?

They are a larger organisation; and they surely might be tempted to pick up for peanuts the regular cashflow and Galeota potential that TRIN offers.

They would need to offer North of 80p to be listened to; even 100p. But still crazy cheap at even that level!"

----------------------=--

Surely they cannot expect to get away with a lowball bid of just 60p. Why are the Board and large shareholders accepting such a miserable valuation?

[orbit007] 01/5/2024 08:11

Well well, so the hunch proved to be correct, there was something going on.

I agree, the offer is lowball, but the shareprice of touchstone should also start motoring now as the synergies are valuable to both parties, not an investor in touchstone, but any thoughts on their potential would be welcomed?

[lexus880] 01/5/2024 08:09

It could have been worse with a share sell-out for less; at least there may be an opportunity for growth for those that want to hang on. Hopefully, that is the end of the misery; I know nothing of TXP.

[aqc888] 01/5/2024 08:08

Offer seems pretty low ball… let’s hope Perenco come out of the woodwork asap

[skyship] 01/5/2024 07:51

Surely a steal for Perenco.

[spectoacc] 01/5/2024 07:29

Who keeps their jobs for agreeing to the t/o will indeed be interesting.

Likely counter-bidders? Will need to be trade, for the tax loss potential, not eg PE.

[spectoacc] 01/5/2024 07:18

Regretting selling 25k at 35.5p late yesterday but fortunately got plenty more.

The tax losses alone mean that bid is low-ball IMO - let's see who else might come out the woodwork for Trinity.

[f3rdinand] 01/5/2024 07:16

Summary· The board of directors of each of Touchstone and Trinity are pleased to announce that they have reached agreement on the terms of a recommended all share offer pursuant to which Touchstone will acquire the entire issued and to be issued ordinary share capital of Trinity (the "Acquisition"). The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.· Under the terms of the Acquisition, Trinity Shareholders shall be entitled to receive:for each Trinity Share 1.5 New Touchstone Shares

[f3rdinand] 01/5/2024 07:10

Well. That was pretty left field!

[nocents] 30/4/2024 19:57

Malcy is more interested in business talk over calorific meals than he is in the real substance of his guffaws. He is an arrogant man and not endowed with great wisdom at times. Like Zak Mir, best ignored.
Trin have become appallingly unprofessional with email responses. They just don’t happen. JK was IR man until he refused to do emails any more and passed it to Vigo. The beginning of the new Hands-off Trin 18 months ago. Big change.
Big holders? No idea. Newlands owns over 10% and can call the tune readily.
Must admit I don’t get it. Call an Investormeet for w/c 22nd April, then nothing!! WTF?? Unprofessional and sloppy as it gets. What is going on-or not going on.?
No reply yet to my email via Vigo.

[orbit007] 30/4/2024 19:10

I mean, talk of going private is one thing, but I am not convinced there is much to that. My biggest issue is that they clearly said in an RNS that they would do a presentation last week and haven't. They also do not respond the emails. Highly unprofessional. I do wonder if it would be worth engaging the major shareholders, and asking them if they are really happy with this. Is it just small shareholders that are ignored or everyone?

Malycs blogs are also ridiculous, saying stuff like, he isn't sure how much benefit the reduced tax would be because we don't produce enough, well someone buying the offshore assets would surely pay more if the future cashflow of dev assets is higher now with less tax!? He also says he can't fathom why a dividend is being paid with production declining, well there is enough cashflow and the last time they kept and spent it, they produced an overpriced duster! Then he starts saying deals to be done...if we are such a disaster why would anyone do a deal Malcy?

[nocents] 30/4/2024 18:59

Finding it difficult to interpret the absence of clarity from the company here.
It is a new phenomenon. Did not occur before depsrture of Bruce and Tracey ( IR). Comms were good. It is as if we do not exist since the Jacobin fiasco.
RNS states “ looking forwardto updating shareholders as the year progresses”. Really? I am feeling very dispensible atm and I hope they are not up to going private at our expense.
There is an air of not caring that I feel. Like we are a nuisance? Don’t want to be too harsh but I just don’tvknow. No replies to my emails. We really need to know Investormeet date.
Not even formally awarded BA yet. Hopefully get a few bopd from Forest Jacobin. Accumulating cash previously wasted.

[aqc888] 30/4/2024 17:22

I wouldn’t even treat a vague acquaintance with this disrespect.

Yet here we are, the owners and prospective share owners, to whom the board are very, very clearly sticking two fingers upto.

[nafafa] 30/4/2024 16:42

I have also emailed them but doubt any of us will be afforded the courtesy of a response. I becoming increasingly concerned about the present situation. I think it is very unfortunate that AB avoided supporting shareholder action, which if gone ahead may well have had a positive impact.

[aqc888] 30/4/2024 15:48

Does seem to give a lot of credence to Nafafas views of what’s going on here…

[nocents] 30/4/2024 13:16

I have too. More people should. It is most curious.

[orbit007] 30/4/2024 11:54

It's very odd to say they will have an investor presentation last week and basically have nothing announced. Do they not realise that reneging on RNSs just adds to the sense of distrust in their competence. I am emailing IR to find out what is going on.