Trinity Exploration & Pr... Share Discussion Threads

[dunderheed] 01/7/2018 20:15

Well you've got the idiot from the states expecting Saudi to turn the taps up so maybe a little volatile for a little while?

[mount teide] 01/7/2018 20:07

'oil-prices-heading-higher-maybe-80-ish-before-autumn/'

With Brent at $79.3 today they are really putting their necks out with that $80 call - the market may actually see that tomorrow !

[mount teide] 01/7/2018 20:05

Marvelman - thanks for your well argued reply - much of which i agree with.

Following this placing, considering the current and likely future oil price, i do hope TRIN's management pull their finger out and get the drilling programme underway asap to ramp up production.

TXP's management has stolen a march over them since last summer - drilling 10 new production development wells, with another 4 planed for Q3 and 20 more in 2019.

This has seen their onshore production rise to above TRIN's onshore production - allowing them to benefit hugely from the 84% oil price rise from $43 when they commenced drilling last summer to $79 today.

[spellbrook] 29/6/2018 22:10

$80 oil forum


hxxps://community.oilprice.com/topic/2689-oil-prices-heading-higher-maybe-80-ish-before-autumn/

[spellbrook] 29/6/2018 15:27

perky perky oil

[moneytree1] 29/6/2018 13:18

wait till oil goes back down and pay 10p.

[marvelman] 29/6/2018 11:57

I could buy at 15.73 and sell at 15.77 (really) and added in anticipation of not getting the 50,000 I asked for in the funding lottery.

[acsatix] 29/6/2018 11:56

"A fair few trades going through. I couldn't hazard a guess at which are buys and sells though. Any views on that."

I know: it was a sell from one party and a buy from another.

[makingmillions] 29/6/2018 11:53

Although the trade prices seem to be generally rising so that has to be a positive.

[makingmillions] 29/6/2018 11:51

A fair few trades going through. I couldn't hazard a guess at which are buys and sells though. Any views on that.

[mustbefunny] 29/6/2018 11:35

UkogAnd from 11p to 1p this year

[ssrover] 29/6/2018 11:24

All the action at UKOG folks. David Lenigas bought £500K worth yesterday (I'm sure he's privy to info). UKOG went from 1p-11p last year.

UKOG last time went into double-digits and that was on a drill. This is flow rates for 'the one'

[che7win] 29/6/2018 10:39

Oil rocketing

[acsatix] 29/6/2018 10:35

deep pockets: if venezuelan assets are up for sale, we better steer clear from them... would you want to deal with druglords in venezuela? Do you know how troubled venezuela is for the foreseeable future and how hard it to get any money out of venezuela legally? so I think Trinity is a bout trinidad and tobago and shall remain about trinidad an tobago (Trinity mean trinidad :) )

[marvelman] 29/6/2018 09:06

Bones, if such a reason or other underlying factors lie behind the decision then that of course is an entirely different conversation....please let that be so :-))

[deeppockets] 29/6/2018 09:02

Paul Baay at TXP also mentioned some Venezuela assets may come up soon so perhaps they want to have money available?

[bones] 29/6/2018 09:00

MM, I think the one factor which might have forced the board's hand was the mention that new licences in T&T are upcoming for bidding in Q3. Perhaps there are other opportunities also that could not wait until end of year. Strike while the iron is hot and assets are cheap is (I hope) the board's prerogative here.

[marvelman] 29/6/2018 08:51

MT

IMO there is no doubt that the BOD decision to go for a funding will have a long term benefit to shareholders. However, I believe the frustration of being constrained by the obligation of paying off debt and then the CLN's before the company can step up a gear has been a motivator in the precipitous placing we have all had to pay a hefty price for. From my observations it would have been possible to have paid off debt and the CLN's before the maturity deadline using money available and current cash flows. A placing at that point, I am sure, would not have been done at such a costly discount. We are where we are due to natural market forces whereby all investors know that the share price will gravitate near to the placing price as many current investors sell in anticipation of acquiring a cheaper entry combined with the overhang factor. I need to have patience now to see a return to my investment status quo which is something it seems that the BOD could not manage to allow themselves. This is an ok BOD which have made serious and costly mistakes in the past and so they are far from perfect in their judgements and this latest decision I believe was another misjudgement. However, they are certainly capable of moving this company to a level more appropriate with regard to their assets and financial strength and my patience will endure in order to see that corollary albeit with gritted teeth.

[bones] 29/6/2018 08:36

Overall, now that TRIN is debt-free and cash generative, none of that is in the share price.A re-rate is inevitable so long as the management doesn't foul up the investment of the new funds!