Trinity Exploration & Pr... Share Discussion Threads

[orbit007] 01/5/2024 23:40

I have watched the TRIN presentation. So the share ratio of 1.5 TRX to 1 TRIN was agreed in November 2023 when the TRX share price was 51p. So the consideration we would now get is far lower. I must say that is disappointing. I await the TRX presentation to see what the business case going forward it, but I am not jumping for joy here. TRIN is valued far lower than TRX simply because it hadn't got the cash, but TRX are borrowing theirs!

[dunderheed] 01/5/2024 23:12

Excuse me nocents, there is way I'd waste my time working on the trin board! They are (significantly) below dunderheed level!
Don't really see Perenco striking but just my opinion.

[homebrewruss] 01/5/2024 22:57

I've uploaded the video presentation to YouTube, a presentation from Touchstone is also expected in the coming days.

[nocents] 01/5/2024 22:56

Interesting times.
Trin has become a solid buy.
61p is a theft, no question, and they even cancelled the dividend due this month. Shareholders are just cannon fodder and Trin are heartless. But the possibilities of a counterbid from Perenco exist( they have been acquiring from BP in T and T) and they border and produce from Galeota. 61p is a crime . But so is the competence of the Trin BOD. Txp have taken advantage of the low price, dunderhead directors, cash generation, no debt, tax exemption , huge assets…for 61p. Bruce( bless him respectfully) will be rolling over and not in laughter.
Come on Perenco. Bring it on.

[nafafa] 01/5/2024 22:40

Undoubtedly the best outcome for shareholders is for Trin to sell off unexploited assets, reduce overhead and focus solely on maintaining levels of highly profitable onshore production. I do not doubt that over three years this has the potential to yield returns to shareholders well in excess of the existing derisory offer.

[homebrewruss] 01/5/2024 22:38

Looks like the presentation is at the bottom of this page

[che7win] 01/5/2024 20:06

The price is 71% higher than the market valued it at!Honestly, if the deal doesn't go through the share will halve and go nowhere for another 3 years.You are getting dirt cheap TXP paper, good deal me thinks

[aqc888] 01/5/2024 19:25

Touchstone has a depressed share price, as does trinity. Could Trinity mess around and get a higher price - perhaps. However, I don’t think the perfect should be the enemy of the good here. The merger will create a stronger more efficient company that could grow and make use of Trinity’s tax and Galeota situation. I don’t think holders should mess around too much and risk this falling through. Personally I’d wait as long as possible to accept, to allow any other bids to materialise, but I think this is a reasonable offer.

[davidblack] 01/5/2024 17:32

Large redundancy payments? Sorry exit packages.

[spectoacc] 01/5/2024 15:55

Thanks @Sleepy, interesting. I don't see any point selling when there's the possibility of counter-bid - there's a floor to the likely return, and it's above the current s/p.

[nafafa] 01/5/2024 15:07

They will like many of us left significantly underwater if the deal goes ahead at this fire sale price. I would love to know how much are useless BoD have been offered to push this through.

[sleepy] 01/5/2024 14:12

Anyone know the date(s) when David Newlands bought his shares?

[sleepy] 01/5/2024 14:11

It may be worth noting that

1) the undertakings that have been given to accept the offer are not strong and

2) the largest shareholder David Newlands ( has not given an undertaking to accept

[che7win] 01/5/2024 13:50

Did one last arbitrage.Sold 27000 shares in TXP at 39.55p and bought 19395 shares at 55p. I'm pushing up TRIN share price, very hard to buy any and I think that's enough risk/arbitrage from me for now

[sleepy] 01/5/2024 13:49

It may be worth noting that

1) the undertakings that have been given to accept the offer are not strong and

2) the largest shareholder(s)( have not given an undertaking to accept

[dunderheed] 01/5/2024 13:32

The Clowns at TXP are offering to take over the (potentially worse) competitor Clowns running TRIN.
There will have to be a WCA meeting to approve such a proposal, IMHO and DYOR of course.

[princebuster2] 01/5/2024 13:32

I see some posters saying time to sell up and count losses!?!

[homebrewruss] 01/5/2024 13:32

Re TXP share price the main issue I would say is disappointing production from one of their 2 Cascadura wells they brought on in September. It was hoped they would produce approx 90mmcf/d plus liquids but 1 well has failed to clean up as hoped so the pair of wells are producing approx half of that 90mmcf/d.
Cascadura wells 2 & 3 are due to be hooked up in Q3 and should hopefully fill this gap. Should get more info on the efforts to improve production from the first 2 Cascadura wells in the Q1 report in approx 2 weeks.

There's a Touchstone discord channel with lot's of chat if anyone's interested.
Some Trin holder chat would be interesting and welcomed.

[nocents] 01/5/2024 13:28

Debt. Part of reason Trin was attractive. Cash. Cash generative. Paul Baay is quite spendthrift but the shadow of debt and income not living up to 2024 servicing is part. AIM is also fickle per se. it depresses any share to encourage volume. No reasons needed. I think the grapevine got hold of this news anyway as the share was over 50p a month ago. Insider gossip. Illegal but the market pivots on it.

[che7win] 01/5/2024 13:28

Orbit, It's hard to know why it's fallen. Market delays, struggling to get first two Cascadura wells optimised which didn't work out, market doesn't trust management either until it sees production increase.Anyway, I sold some TXP and bought in TRIN, but had to pay 54p via negotiated trade.I'll watch and wait now.

[princebuster2] 01/5/2024 13:26

Just logged on! Whats happening??