We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
MCAP continues its decline towards net cash.....the board are basically being told here that the market believes they will actively destroy shareholder value going forward haha. I think its time for the larger shareholders to call time on this one and liquidate the assets - the CEO is getting paid far too much for this performance. Needs a special general meeting to be called ASAP imo.
Is that not perfectly normal for AIM stocks these days? The market no longer cares unless there is some colossal story to get involved in.
The NAV is 203p per share, is that correct? You could add a zero to the number of shares in issue to 390,000,000 and the company would be on PE of 8 or 9 with a market Cap of £130m and a NAV of 20p per share. QUITE extraordinary.
No matter the disappointment on Jacobin, TRIN is at a £15m market cap, when it has USD 9.1m Net Cash (incl VAT receipts) or GBP 7.3m. When EBITDA is USD4m per Quarter, taking in to account Net Cash position and 2,600-2,700 bopd, TRIN is on a PE of less than 1.
That's not taking even taking in to account the value of Galeota.
From the 15th April RNS: "The Company will hold a session for investors via the Investor Meet Company platform in the week commencing 22 April 2024, following the announcement of its Q1 Operational Update that week." I checked that platform and no meeting is scheduled for this week or next. What is going on with this company?
Quarterly update is usually the last Thursday in April. Twitter X is also totally free of any postings. What is going on with these guys?
*and the call around 2pm
Well I think it's likely the RNS is released 7am tomorrow and the
Things must be bad indeed..........
I see deep value here much in agreement with the investment case laid out in investors chronicle write ups...granted sentiment is terrible but if you do invest in deep value opportunities this is actually currently a fairly strong buy...the tax changes and oil price increase can double this within months with no operational progress imo
The old management had very significant personal shareholdings, but these guys have been very slow to put their hands in their well remunerated pockets to align with retail shareholders. “A big red flag that was”, Yoda might say.
It's a kick in their own teeth as they are destroying their own personal share holdings. (Unless there is some cunning plan to go private and/or sell out the business to some other group that employs better oil-geologists)
Got out at break even other week as after studying decided to bail . I Dont hang around these days only in 10 percent of my stock .it works better for me .GOOD LUCK ALL IMI THERE WILL BE BUYERS AT 30/31
Nice of them to pop up with a kick in the teeth ahead of the quarterly update.
I think everyone realises that they will finally write off the lower levels in the next update. The question is whether they have moved on to production testing the shallows. Their previous glacial pace suggests they may not have. That would not be well received.
Last message on Twitter was 1st Feb. It must be really bad at Jacobin?
Yes, with WTI firming you can feel the impetus for a confrontation with this awful BoD beginning to fade. A real pity. The share price may respond somewhat to an improved climate for oilers but a significant recovery is not possible here without a change of strategy, something that is just not going to happen unless these characters see us coming for their salaries. Ab76 could have made that happen but he chose not to.
A very real concern of mine and one that I have highlighted previously. My suspicion is that the reason that influential large shareholders have chosen not to take action is that poor performance and resultant low valuation plays into their hands. Holders such as AB who clearly have no intention of supporting any form of small shareholder action may come to regret that decision.
Could happen, I suppose, the shareholders do seem quite unbelievably complacent. But how disconnected is the valuation really? As I said before, look at recent annual and interim accounts for a better idea of the profitability and trajectory here and what the market is getting at with the current share price.
Seems to be the fashion. Molecular (was President) is going private. Not the only one leaving AIM as valuation is disconnected these days. This morning I noted REDX (not an oil co) is going private. Will TRIN go private?
*Mibb - annoying auto-correct!
Mine
The first mistake you are making is to look at gross figures. Have a look at recent annual and interim accounts for a better idea of the profitability and trajectory here and what the market is getting at with the current share price.
All the best
Ross
AB76, good to know that you are still about, presumably you have not sold out! Does the fact that you have remained so quiet of late choosing not to contribute to the discussion on shareholder action, mean that you are not in favour and would not be prepared to lend your support? If that is the case I hope your confidence in management to do something sensible does not prove to be misplaced.
Consistent with many AIM stocks though, they've become literally detached from their share price representing them? Nobody cares, like the share price correlating with revenue doesn't matter anymore?
In early January, Cavendish (Trinity’s broker), observed that Trinity is “A FCF Generative Business Trading at a Significant Discount. In an already undervalued sector, Trinity is trading on an EV/Sales of 0.2x, EV/2P of US$0.9/bbl and an EV/boepd of US$5,687/boepd – significantly below that of its peer group. With recent investor attention focused on the Jacobin
well, we believe investors have lost sight of Trinity’s core fundamental value.” I agree.
The market cap is £15.4m, but they're selling 2,700 barrels of crude a day? So like $218,700 a day? So they'll earn the Market Cap in revenue in about 103 days ?? The annual revenue could exceed $78m ?? So the market cap is 3.5 times lower than annual revenue? What am i missing?