Trinity Exploration & Pr... Share Discussion Threads

[jungmana] 11/5/2017 11:56

Yes I agree, new management is not everything. But on aim top class management is a big tick for me. Money I invested in lgo yesterday is about a 6th of my investment in Trin. As I said with trin I have no worries

[whiskeyinthejar] 11/5/2017 11:43

New management isnt enough imo. LGO needs to spend money it doesn't have to get out its hole. This is difficult as you pay top banana to buy assets with low costs.

eg Delek bought Ithaca for $1.24Billion. 76MM of reserves. So $16/barrel.

But Bp sold Magnus stake to Enquest for only $85M. 16MM of reserves and BP retained the decommissioning liability. Only $5/barrel.

Difference is Magnus break even is $50, Ithacas is about half that.

[mark10101] 11/5/2017 11:40

So I would have sold at 80p, 40 time where it is today. I put a sizeable chunk into TRIN after selling and to be fair did not perform as well as LGO for most that time. However like Ross alluded to TRIN seems a great opportunity and I don't want to squndar it. It is possible TRIN could not only payback all it owes me but also recover loses elsewhere after the collapse of my portfolio in 2015. Just need 50p to do that. Not so far fetched now.

[jungmana] 11/5/2017 11:30

Mark- after the recent consolidation your 1p lgo entry is now 20p share price equivalent today. I got in about 1p too and sold out at 100% profit. Invested the money into afren and lost all.

[mark10101] 11/5/2017 11:26

Ross, I totally agree with you re TRIN and not wasting an oprtunity that rarely arrives on AIM. Such limited downside risk from here with many multiples of upside possible. Of course I have targets in the 20's where I would be content with the turnaround and could sensibly cash in. However there is a part of me that thinks if the oil market for once goes in our favour and TRIN delivers the new wells successfully the 50p plus region would not put us at an extreme valuation.

I bought LGO at 1p in 2014 and sold it at 4p in months at an extreme valuation IMHO, it went on to 6p. If TRIN was ever to become over valued to that extreme we could knock on the door of £1.

[jungmana] 11/5/2017 11:20

Ross, I hold a similar view that's why trin makes up 25% of my portfolio. My other main holding is Prem and then 7 other companies.I took a small position in lgo yesterday after reading about new ceo Koot. For that guy to risk his reputation and take charge of LGO says something. With this one I have no worries.

[mark10101] 11/5/2017 11:07

WITJ great minds with our crossing posts :-).

WTI doing very nicely above $48 ATM.

[mark10101] 11/5/2017 11:04

LGO needs a recovery in management and fortunes to do well, we only need oil price to rise to around $60 and we will be doing very nicely. They are right about a bloated workforce in the past but where do people think TRINS recent effcicnecy gains have come from? Monty ran TRIN as a sub arm of petrotrin and local employment was above profits. The balance needs to be right and let's hope TRIN are getting there now.

[whiskeyinthejar] 11/5/2017 11:01

Obviously Trin have cut labour costs. Thats partly why break even is $29.

Trin was able to restructure because it kept the cash coming in as it has good asssets.

LGO doesn't. It has admin costs of £3m and production of less than 500 bopd. How can you make money on that? You can't of course, so they are printing billions of shares and options to pay directors and suppliers.

And their drilling program isnt offsetting depletion. So lgo is in a death spiral imo.

[marvelman] 11/5/2017 10:19

LGO's market cap has rocketed to 12 million following a name change and a new CEO...the fundamentals remain the same...low key. By comparison TRIN's market cap is only 40 million producing 2,500 bopd and increasing. Praise be to market forces and herd mentality.

[the big fella] 11/5/2017 09:46

I know where I would rather have my money invested.

[jemjem] 11/5/2017 09:07

Shares Mag wasn't really a tip. TRIN get a mention, along with about 12 other shares, in an article highlighting broker/analyst recommendations on shares that are expected to double in short order - according to the the brokers.

It all helps though...

[mark10101] 11/5/2017 08:53

Looks like things are picking up nicely,

[mark10101] 11/5/2017 08:33

Mr 100,000 still around by the looks of it. I prefer him to Mr 8,000.

[the big fella] 11/5/2017 08:16

I was thinking the same thing 😄

[aimmafia] 11/5/2017 08:14

Dropped the idea again. Yawnnnnn

[mirabeau] 11/5/2017 06:58

Tipped - Shares mag

[mark10101] 10/5/2017 16:35

Let's hope this is the turning point for oil. I think we are in a very volatile period for oil. I absolutely would not rule out a record height in the next 5 years years, seems no one is predicting more than $60 ATM.

[che7win] 10/5/2017 16:01

Oil prices extend gains as US crude inventories fall by 5.2M barrels, more than expected