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So yet again this company is true to form and that y This company has no credibility as it put out RNS with no follow up IE SHELL INDERNESA WATERFLOOD 2500BOPD WHAT HAPPEND THERE? No follow up. Then we a target for this year of 1000bopd to make them look good Really!!
It's because the value of something is only ever what someone is willing to pay. At the moment very few people are willing to pay anything at all. Asset values go up and down as do debt. But investors want a return on investment which is the real issue. No profit, no dividend means its a high stakes gamble rather than an investment.. I considered buying back in a few weeks ago, but with such a huge spread due to lack of interest its hard to make a worthwhile case.
We all know what isn't going well It's the share price I think the company needs to ask the LSE why the AIM is not acting like a market Very strange that an increase in the value of RRL's assets has a negative effect on the share price
Lets hope the Board realise that we all want the Company to do well but they need to be honest with us and inform us exactly how things are going which includes all the things that are not going so well.
Postponed until Tuesday due to large numbers of questions. Well done all who raised telling questions... now it is on to Range to see whether they give us proper answers. KRO
With 7.5 billion odd shares in existence volume is nothing really. But here's hoping you are correct.
Good volume even with that spread maybe new is on the way
Trinity has used RRSDL for oilfield services so their success could and should mean more business for Range.
Yes but 820 bopd poo up 3+% mean profit per barrel goes up by more as its on top of cost of production.so I see rising poo as positive cup halve full lol
The price of oil might continue to rise from here but that has virtually nothing to do with the prospective Range SP.
Forbes on Twitter: said buy oil drillers “Oil’s going higher. We don’t have enough. We’re in deficit now and the deficit is going to get bigger,” said James Brilliant, chief investment officer at mutual fund firm CM Advisors.
Hope you are under 40 then. 5p... I'd safely say, 99.999% no chance?
66% spread so not much going on here umm
Wrong board Rexco. ;) Although to be fair, yonks ago there was much wibble spouted about how they were a target for Range, fact etc. etc.
See comments from Malcy's blog today
"Trinity Exploration & Production
Trinity has announced what looks like a smart refinancing with a $20m raise comprising a placing of $11.1m, a subscription of $6.9m and an underwritten Open Offer of $2m, all at 15p, a 28.2% discount. The placing was oversubscribed and brought in welcome new institutions and the Directors and senior management added as did 88.2% of the holders of Loan Notes who have undertaken to convert at the issue price (effectively re-investing rather than cashing out). Total raised from Directors and Senior management was $3.1m giving them 22.7%, still plenty of skin in the game, something that I am, as readers know, particularly keen on, this level is way more than a lot of companies in the sector.
The raise means that both the BIR & MEEI debts alongside loan notes not converting at the issue price will be repaid in full at a cost of $5.5m and the company will be debt free. This funding, with the sorting out of the Loan Notes does take away the invisible overhang at 6p which had been playing on investors minds and obscuring the upside potential. As a reminder, come January 2019 the Loan note holders would have the ability to convert at c.6p/share bringing significant dilution but no new cash into the business. This deal brings in new capital to simultaneously fully cleanse the balance sheet and invest for growth at less dilution than would have occurred should the loan notes have been able to convert come January 2019.
More importantly it means that the TRIN management can accelerate the onshore drilling programme and grow production by >10% y/y in the short term and with many, largely fixed operating costs, can self-fund the drilling programme after 2020. In addition the company will be able to ‘ selectively pursue acquisitions and other value accretive opportunities that become available in the future’. This should include progressing the highly promising East coast Galeota licence I know the management is keen on.
Although at first glance the refinancing looks expensive by way of the discount, the shares have spiked recently and it is by far the best call for the longer term. With some inevitable dilution as a result my previous target price of 36p may come down a touch but certainly by less than 10% still giving a substantial upside for what is one of the best stocks in the energy sector. This fundraising completely clears the decks, acknowledges the past but puts TRIN on a good path for the future."
Trinity has refinanced and is debt free which will lead to increased investment. Hopefully they will use RRDSL for at least some of their drilling programme.
I suppose a 140% increase would be a start but think we all need far more than that.
To all those thinking they'll never get anything back, look at the RMP news. I've held here and RMP for many years and had written both off, but might get something back!!
My average here is still 5.5p mind so it'll have to be something big :S
If the price is real then I no longer need to put off my retirement anylonger BUT i would setell for a LOT less,DREAM ON after a night mare
If the price displayed here is real I’ll be moving to Monaco this week gla
Yes that was prize Landau BS, wasn't it? As far as I could tell at the time, nothing was ever paid towards it, although we never got any updates after the triumphal plan announcement that wasn't actually a, er, proper plan.
I guys, bin a few years since I ditched this wreck... at a loss. But once in a while I think of that airstrip in Puntland that I helped finance, and wonder how it is getting on, perhaps now a footie pitch, or now an execution space for El Kebab, or just gradually being reclaimed by nature, maybe with the odd leakage of oil coming up from the vast oil fields below.
Lost plenty on this as well shatter so feel your pain, as is its really just a skeleton shelf company now like many in this market, they keep the company going for tax and write off purposes, they have just about used up the book of excuses and techniques for increasing production, once you go down the road of Water Injection then you trash the reservoirs, can have horrendous problems with the produced water and how to deal with it, so basically RRL are admitting that the reservoirs are just about done and all this carp about increased production is just smoke and mirrors and boy is there a lot of that on this market, best of luck but I expect to be writing these off permanently in the not to distant future
Sorry I ment ,Abraham's will NOT be happy
161,472,247@£0.01 118,729,593@£0.02 on the 14th of July, I do think Abraham's will be happy with the current situation and I believe they got rid of RSR and put this lot in. Got to admit I find the waterflood consernig and the facked that we still not hit that much promised 1000bopd over the years worring, R the current any better than the previous lot?