Trinity Exploration & Pr... Share Discussion Threads

[pineapple1] 28/4/2017 08:04

mirabeau.....i.m not suggesting they'd buy it FFS. I,m saying TRIN are vulnerable to a a small comapny with a bit of cash who could nick this at 20p a share. Is that straightforward enough in clear to understand english .It was not in the literal sense that specifically SQZ are buyers. Is that clear enough.

Hopefully TCW will have something to say soon regarding that but thats for the SQZ bb.

[bountyhunter] 28/4/2017 07:43

#1801 - no chance of that, as yas said
edit...and Mirabeau (just seen that post)

[mirabeau] 28/4/2017 07:24

Why would Serica buy Trinity? A silly suggestion. Walker, the CEO of SQZ, is a North Sea oil-man through and through. His purchase of a stake in Erskine should point people to his contacts in the NS industry especially at BP. The amount of cash thrown off by SQZ's stake in Erskine is way in excess of what Walker paid BP (now, I'd say that mates rates). SQZ's stake in Erskine is generating over £35m free cash per annum. I think Walker paid around £15m or so? It's paid for itself in multiples.

I reckon Walker's got another Erskine-BP type deal (at mates rates) up his sleeve as well..SQZ will be doing around 4k-5k boepd by eoy

[pineapple1] 28/4/2017 07:12

....Neither do i as SQZ are NS focused ,but i'd be quite happy if only an SQZ shareholder if they bought something as cheap as TRIN. Its cheap with reserves far in excess of SQZ at almost half the m/cap.

[yasx] 27/4/2017 23:59

Pineapple,

I rather doubt that SQZ have TRIN in mind - it is not an appropriate fit.

[mark10101] 27/4/2017 23:21

You were fed today by the MM, be sure to pay your bill first thing in the morning, oil completely rebounded tonight so looks like a strong open.

[ugly troll] 27/4/2017 22:09

I am hungry, feed me.

[pineapple1] 27/4/2017 19:31

I'd be happy if SQZ made a cash and paper offer for TRIN. SQZ need the reserves. SQZ my largest holding but im a holder here to.
I wonder how many small acquisitive oilers have cash burning a hole in their pocket. TRIN is cheap based on what we know.
I don't think this a valuation trap so it will eventually find fair value or someone else will. It would almost be stealing at 20p (30% bid premium)
imho

[yasx] 27/4/2017 19:07

Back to TRIN.

I think this is just one to sit back and accumulate the dips - save for the price of oil plunging, there really does not seem to be much risk.

I rarely (if ever) agree with Chewin, but on this one I must say he is on the right track.

[yasx] 27/4/2017 19:06

Referencing 1773,

Chuckle chuckle!

At the risk of appearing immodest, I too fit that centile, thought I am unable to provide tangible quantitative evidence!

[mark10101] 27/4/2017 18:47

I believe we are only small in MCAP, reserves and solid 2500bopd is a good bolt on for a mid size. Not sure it is that likely ATM but with current MCAP there may be people watching us. Malcy's first comentry on TRIN when we returned was things were looking positive (think we were around 17p at the time) and too cheap at that level with a risk investors may not get a chance to see all the growth potential here.

[bountyhunter] 27/4/2017 18:37

Mark I don't think there is much risk of a takeout yet here as Trin is still too small to attract the interest of predators imo, maybe in a year or two's time with good fortune

[mark10101] 27/4/2017 18:06

WITJ that is an interesting graph of trades, and reflect my feel for the true price of TRIN today around 13.4p. I think MM were using the drop in WTI to test holders, as we have seen several times they don't get many offers for holders down here.

[mark10101] 27/4/2017 17:56

Hi Bounty hunter, I hope the same things does not happen here, it is my fear. I would hope an offer would be in the 20's but that is where we should be anyway with what we know, without changes like T&T taxation and increased drilling activity.

[whiskeyinthejar] 27/4/2017 17:55

I think midprice is getting moved around by MMs to make buys look like sells.

The highest trade at 14p shows up on Advfn as a sell, when it's actually neither (it was sets trade).

Looking at buys and sells misleading imo.

All you can do is look at histogram imo and closing price doesn't reflect the action:

[bountyhunter] 27/4/2017 17:29

cheers marvelman, switched from sml which is doing a what goes up too fast must come back down (at least to some extent) right now so decided not to hang around there for now at least! trin seems to have stabilised after the gain a while ago so seemed like a good entry point, it does seem a dead cert to replace IAE on Malcy's bucket list unfortunately for IAE holders (which includes me) which is being taken out by Delek for just an 11% premium at a time of rapidly increasing production!

[marvelman] 27/4/2017 17:17

Good to see you in here Bounty

[bountyhunter] 27/4/2017 17:12

like me :-) not because of Malcy though, had my eye on this for a while, plenty of potential here with a market cap of just £36m

[mark10101] 27/4/2017 17:07

We should have closed at 13.125 but they closed us dead on support, so hopefully a bounce tomorrow. I would say the probability of 10p is low but if oil scuppers us like today the possibly is there with oil sub $40. We are supported by a valuation gap not remotely closed yet and one that is widening relative to our peers. Volume was not large today, maybe we have a few shorters around dumping large sells on a thinly traded stock. Either way (despite me posting most days...) come back in the summer and we should be into the 20's.

Malcky's blog was very positive and succinct, it would not surprise me if as people read it some will see this level as a gift.

[bigtune888] 27/4/2017 16:37

I think we could see sub 10p like in February when Mirabeau was taken out, it did tick to 9p bid for 10m-15mins I believe.

That was the time I started buying in baby steps.

[bigtune888] 27/4/2017 16:34

Hi Big Fella

No prob and can confirm not interested in other people net worth, most probably my post was misconstrued.

[mark10101] 27/4/2017 15:45

We have bounced strongly of 12.5 a few times and hopefully we will again, less than what many of our holdings traded in the last hour to knock us down 10%, actually looked like a blue finish if it was not for the softening of oil.

[mark10101] 27/4/2017 15:42

They are really trying to rattle people out of here, 10% drop on a 2% drop in WTI...
.

[mark10101] 27/4/2017 09:46

Bucket list beckons.

[mark10101] 27/4/2017 09:45

Trinity Exploration
The Trinity update flew under my radar on Tuesday as I blogged rapidly ahead of all those interviews, going back to their website proved almost impossible to navigate but here goes! Production is looking good as with a clean bill of health post the raise much activity on wells is upping output, 2,500 appears to be the current norm with guidance of 2,600-2,800 b/d and a target of 3,000 b/d. The company is in fine form and released from its shackles is raring to go. I am increasingly confident about the future here and look forward to another update before long but little doubt that the bucket list beckons when a space appears.