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No one really knows. All you can do is make an educated guess. While I do own these, it is just a very small stake which I will increase on drops providing I see it as a good return in the future.
Does a drop not feel like the most likely outcome in the short term?
The last results were positive imo. Drilling started and bod buying, not huge but still ok.
“News out of the company recently has been good imo”
I must have missed that - what news are you thinking of?
Interesting that the sp still ended slightly up, so while there is a seller there are investors buying at this level which has some support from a bottom of a downward trend channel.
The book value makes this cheap and good value but if that trend line breaks it’s likely to drop a fair bit. Worth a small top up imo and save cash incase it does drop further. News out of the company recently has been good imo.
Certainly some big trades reported late that look like sales, but happy to defer to anyone who actually pays money for their data!
Could not sell just a small amount without going to NT but can buy, suggests someone is selling and a lower price to come.
Ewen27
Probably someone looking exclusively at the technicals - which is a legitimate strategy and in this case has presumably worked well for them.
Greedy traders can only make any money on the back of frightened seller, sadly the unpleasant aspect of human nature
I don't post much but I have been invested in this share for years with zero return on my investment however it has so much potential which why i have stayed in. However I cant stand the current manipulation of the share price which is currently happening. If you have IG spread betting account check out the open shorts sitting at 4%. This about 2 people from my maths. Who in there right mind would be shorting here with an average of 10 trades a days and oil price at record highs. Every time the same short opens which is now the sixth time the share prices goes down and when it closes the share prices goes back up. Prob a couple of traders making money off a share no one is interested in.
rossannan Are you in yet .
At 90p the case for a modest buyback program would be made, I think.
Got to admit , looking to buy more lower if possible. Bring on 90p
Big news and no comments, shows little interest with only 152K of trades. I have bought back in here again as from this price i see plenty of upside . May the drilling be successful and the weather not to inclement.
Gosh and golly, they have started drilling. good luck all
Ross. Weather hasn't been used as an excuse for a while...... 2 days left for a spud RNS then!
PipeDragger
If you listen to the recent InvestorMeetCompany event, the plan was actually to drill this month, subject to the weather.
Would be great if they actually drill in July (as stated in May update). They have a habit of putting activity off. I am sure it would help investment interest. (The recent SP dive might be due to some undeclared new reason for delay - I hope not)
ableydone
If you listen to Jeremy at the recent InvestorMeetCompany event, it sounds to me at one point as if he is setting out the Government’s list of excuses for why there will be no meaningful tax reform.
RNSs are for some long term holders shuffling their holdings around. No actual change. SP is diving as TRIN has gone to sleep - zzzzzzz
Judging by the negative effect on the SP it can’t be positive?Also does anyone know if tax reform is still moving ahead? Very quiet on here given recent SP drop..
ab76
“Debt: Zero Debt
?Working Capital Facility (Per Q4 2021 Update): $2,700,000”
Is that not all a bit misleading? The Q4 2021 Update makes it clear that it is a “DRAWN” working capital facility (or debt, in other words). Somehow the word “drawn” didn’t make it into what you were asked to post.
Brent: $121.50
Brent Current Price Performance vs 52 Week Low of $64.57: 88.17%
TRIN Share Price: 131
TRIN Current Share Price vs 52 Week low of 116p on 24 Jan 2022: 12.93%
Shares Outstanding: 38,879,431
Market Cap (GBP): £50,932,055
GBPUSD: 1.250
Market Cap (USD): $63,665,068
Debt: Zero Debt
Working Capital Facility (Per Q4 2021 Update): $2,700,000
Cash (USD): $18,300,000
Net Cash (USD): $15,600,000
Group's VAT receivable USD 5 million: $5,000,000
Inventory (Per last update Half Year 2021 Results): $5,400,000
Net Cash + VAT Receivable + Inventory as % of Market Cap: 40.84%
Net Cash + VAT Receivable + Inventory Component of SP: 53.50p
TRIN Actual Prod Q1 2022: 3,013
TRIN Base Production Guidance 2022 2,900-3,100 (Prior to any drilling): 3,000
Enterprise Value (USD): $48,065,068
EV/BARREL-USD Q1 2022 Production [Sub Net Cash]: $15,953
EV/BARREL 2022 Guidance: $16,022
EV/BARREL-USD Q1 2022 [Sub Net Cash+Inventory+Investments]: $12,501
EV/BARREL 2022 Guidance [Sub Net Cash+Inventory+Investments]: $12,555
Abandonment / Decommissioning Liability: $46,600,000
EV/BARREL-with Decommissioning Liability: $31,419
Per FT on 22 May 2022 - "On Monday, Trinity Exploration and Production PLC (TRIN:LSE) closed at 117.00, 0.86% above its 52-week low of 116.00, set on Jan 24, 2022."