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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?
Thanks i will look however still think its a low mkt capt .
Scoredagainsteps
I would read the disclaimers that accompany those Cavendish notes before you thank Ab76 for peddling them.
All the best
Ross
KIND thanks ab76 only bought a few thousand as was in before and she dropped . But this time feels better
With a core net asset value of 201.8p (a valuation which places no value on 48.8mmbls of 2C reserves or the new Buenos Ayres licence), there’s little doubt that Trinity is seriously undervalued. Cavendish’s reports, setting out the valuation, are available free of charge on Research Tree and Cavendish’s website.
SURELY MUST BE THE BEST VALUE OUT THERE 15 million mkt capt and 2600 bopd maybe im a fool but i see great value .WE will soon see
Thought the other day great buy good luck all i just think its undervalued
Mkt capt tiny plus producing i feel risk reward now is very good
I have too many green boxes to engage here regarding this.
Any holders who wish to promote real action from the inert BOD of Trin, please visit Advfn Trinity Oil Production thread. Shares are being amassed.
There is only so long we can be ignored.