Trinity Exploration & Pr... Share Discussion Threads

[mount teide] 21/5/2019 19:11

Open letter to the CEO and Management

I'd like to thank the you and your Caribbean lifestyle company TRIN for taking the market by complete surprise last summer when announcing a $20m cash raise at a 44% discount to a recent share price high(which some insiders shamelessly sold into knowing full well they could buy back at cents on the dollar).

Loyal shareholders were diluted by circa 40% while management also got in on the action by filling your own well heeled boots with shares at the placing price.

Appalled at the treatment of PI's by the size and discount of the cash raise, i immediately sold 75% of my holding at close to break even and reinvested it shortly afterwards in Jadestone Energy. The other 25% went the same route in January 2019 as a result of seeing little progress to convince me it was worth staying and generally being fed up at funding your tropical paradise highlife for two years for no return; a story well known to most long-suffering shareholders over the last half decade.

Nearly a year post the placing, it is totally unacceptable that the few loyal PI's now left should find themselves down circa 60% from the pre placing share price high and 26% from the placing price.

You have a lot to answer for - the market has since the placing simply failed to be inspired by your performance, leadership or vision for the company.

As for me, without your placing, i would have been unlikely to come across Jadestone Energy, where my investment is now worth 26.5p in TRIN share price terms and making new all time highs on an almost daily basis while still valued at barely the P1 reserves.

With the benefit of hindsight to say i am happy with your placing is probably the understatement of the decade!


Rgds,

AIMHO/DYOR

[spellbrook] 21/5/2019 09:45

WHAT SPT TAX DID THEY PAY ????

A review of the company’s financial results of its subsidiaries is currently underway and interim unaudited financial results are expected to be published by the end of May 2019.

[wwick] 20/5/2019 12:19

Well said Ramnarine ..... no pun intended

[mark10101] 20/5/2019 11:52

Hear hear!

[nocents] 17/5/2019 17:58

SPT is not too bad at $62-3. It negates it fully especially with SPT tax credits and oil premium allegedly paid. Breakeven is at $29.5. It’s like tax-free oil at $50 WTI. Much better than Q1. Also expect RCP’s completed and drilling recommenced so Q2 results mid July should look much much healthier.
Re. T and T.....it’s nice to be hopeful but I don’t like to ramp. Or deramp. Election in Kanuary. Expect massaging of figures and all sorts of promises. I agree with Mark but feel that Trin just have to get on with it alone. Which is good enough.
Any fiscal reform would be a bonus.
I would not want to put people off buying as I believe this is as cheap as it gets.So forgive me for that But never trust governments ...particularly at election time. It may be that they will implemeny fiscal reform to prove a point before election. Maybe. I say ignre SPT and get on with HAW’s and new onshore drilling.

[mark10101] 17/5/2019 17:40

Sleeven, did you listen to PB recent presentation. He talked about Heritage joint ventures and exciting times for Trinidad. The government talks about achieving 80kbopd in the next few years. This will only be achieved if fiscal support is given to those prepared to drill. TXP have delayed their drill schedule due to collaborative work with Heritage. Not a single well has been drilled in T&T this year. With WTI where it has been for the last few months what is holding back people from drilling?

Maybe, just maybe the T&T government have a credible plan for stimulation oil growth that will become apparent in the next few months?

[sleveen] 17/5/2019 17:00

But in the meantime paying lots and lots of SPT, just like CERP and TXP.

[nocents] 17/5/2019 15:18

Laptop. Impatient sellers on lack of stimulation ( or news pr other more exciting places for dosh). Trin is solid and waiting.

[laptop15] 17/5/2019 09:55

Why the drop here guys with oil doing well?? Looks cashed up too, any thoughts? Lack of news??

[spellbrook] 16/5/2019 12:26

Tamzin
‏

@tamzinpiworld
23m23 minutes ago
More Tamzin Retweeted Trinity E&P
We'll be posting the #TRIN Mello presentation from today, 16.5.19, on piworld in due course. It will be good to update recordings with FY18 figs.

Here's the last recording H1 18, from last September 18:

hxxps://www.piworld.co.uk/2018/10/04/trinity-exploration-production-trin-h1-results-presentation-september-2018/ …

[mark10101] 16/5/2019 12:13

I have a feeling that in a few months those £5k tranches would be worth closer to £10k. There is big changes in T&T with Heritage and I believe the path to th 80k bopd the goverment refers to will become clearer. Not a single well has been drilled in T&T this year. The path to moderate growth let alone the growth the government wants has to be supported by then. Hang in their LTH. TXP's latest presentation hints the changes are nearing.

[marvelman] 16/5/2019 11:52

Interesting looking at the trades that the seller appears to be divesting circa £5,000 amounts at a time while the actual shares vary only in number to account for that value each time (within a few pounds)....no idea if that is predetermined or if it is the same seller but would account for the constant trickle of sells.

[spellbrook] 16/5/2019 09:36

Trinity E&P
‏

@Trinity_PLC
11m11 minutes ago
More
⁦@Trinity_PLC⁩ #TRIN presenting at Mello. Recording by ⁦@tamzinpiworld⁩. Management hitting the road with Manchester and Birmingham presentations in coming months

[mark10101] 16/5/2019 07:48

WTI looking a bit cheerier, could it be possible that the seller works out, like other periods of selling we have had, that letting TRIN breath and rally allows volume to climb significantly giving a quicker exit at a higher price. Post Angus’s purchase was the perfect time so why did they choose to resume selling, it is getting mindless to the point of suppression....

Comparing with TXP share price, certainly after it’s dire Q1 update, (please don’t reply on how exciting Ortoire is, why did they leave it until the lease expires and how are they going to finance beyond the first well which will take months to connect and monetise...) TRIN has a lot of catching up to do.

[mark10101] 15/5/2019 15:28

I am guessing someone likes the look of 11.7p that Angus got and another big order is being worked. There is clearly a seller prepared to take 11.5p atm.

[spellbrook] 15/5/2019 15:16

odd seller still about zzzzzzzzzzzzzzzzzz

[spellbrook] 15/5/2019 11:15

fun and games with current spread

[spellbrook] 15/5/2019 10:01

Investors Evening Tomorrow

Trinity, the independent E&P company focused on Trinidad and Tobago, announces that the Company will be presenting at the Mello Investor Event on Thursday 16 May 2019. The event will be at the Clayton Hotel Chiswick, 626 Chiswick High Road, Chiswick, London, W4 5RY. Executive Chairman Bruce Dingwall will be presenting to delegates at 09.15.


For further information on the Mello conference, please visit the event website at hxxps://melloevents.com/event/

[spellbrook] 15/5/2019 09:10

nice to see odd seller still about zzzzzzzzzzzzzzzzzz

[cookie dough] 14/5/2019 17:31

A very good signal! About time this stock picked up a little.

[mark10101] 14/5/2019 17:21

Last time he bought at 12p we had a pretty good run, let’s hope history repeats itself.

[spellbrook] 14/5/2019 15:18

nice price 11.70p




RNS Number : 0059Z

Trinity Exploration & Production

14 May 2019

Trinity Exploration & Production plc

("Trinity" or 'the Group' or "the Company")

PDMR Dealings

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces that Angus Winther, non-executive director, purchased 427,350 shares in the Company at a price of 11.7p per share.

Following this transaction, Mr Winther is interested in 30,102,994 Ordinary shares in the Company representing 7.84 per cent of the issued share capital (voting rights), of the Company as per the following table:

[harleymaxwell] 14/5/2019 09:17

Nice buys going through. Funny how price drops on thin sells but doesn't rise on decent buys....