Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video 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.
Bought them again .
A reduced limit buy order of *106p went strait through when I saw share below yesterdays 107p failed order .
Dropped below my "bought back" price during last month , lower again today the spread is 5% .
Buy in the trade history lower then my buy order which has not executed .
You can not trust what you see on trade history here .
Seems no-else will.
“their management is physically near the the oil wells and know the place as well as anyone could”
What is their excuse then?
Got them back today for my target of 112p .
Trying for a few weeks as cash became available , this one of 5 buys today , I do not but rising shares so hope it is not a sign of market falling back again to last months lows .
Hope you are right PipeDragger oddly enough I have manged to by a few of the ones I sold to raise cash when markets tanked and margin called a bit cheaper .
Maybe something I can learn there .
Another large share but back and another drop in price??? At least they are buying cheaper than previous purchases. Has to be a buy!
I’m amused to see Trinity described as “Leeds based”.
Here’s their Leeds address: C/O Pinsent Masons LLP, 1 Park Row, Leeds LS1 5AB.
It’s their solicitor’s office. Save for remote board meeting, Trinity is based in and run from Trinidad and Tobago. It’s a small point, but their management is physically near the the oil wells and know the place as well as anyone could.
Not looking such a bad move 2 weeks on news today dropped the price back to 118p
19th Oct 2022
IN BRIEF: Trinity Exploration backs guidance; warns on delays.
Trinity Exploration & Production PLC - Leeds-based oil exploration company focused on Trinidad & Tobago - Keeps production guidance for 2022 unchanged at 2,900 to 3,100 barrels of oil per day. Meanwhile, in the third quarter that ended September 30, production falls to 2,990 bopd from 3,019 bopd in the second quarter, but beats 2,923 bopd in the third quarter of 2021. For the third quarter of 2022, the firm announces a 25% increase in operating cash flow before corporation tax and pre-hedging.
However, it says that the planned horizontal well is now expected to be drilled in the second quarter of 2023, delayed due to extended supply chain lead times for specialist drilling tools. Looking ahead, firm touts:
"The company's successful drilling campaign, along with its programme of workovers and recompletions, is forecast to lead to a material increase in operating cash flow for 2023".
Current stock price: 117.35 pence, down 5.0% on Wednesday
The horizontal well was due for completion in Q1 of 2023 (although probably fairly early as the plan was to hopefully start drilling in December).
The deep well, which is the more important of the two, is also due for completion in Q1 2023 and that remains on schedule, subject though to the caveats announced this morning (the main one is probably regulatory approval).
What will the market do? Will it be impressed that production will start within the next fortnight or as I suspect, instead see the delay to the horizontal well drill to Q2 2023 as more important and the SP continues to drop
I haven’t looked, does anyone know what the original date was to drill the horizontal well?
Thanks
Yes it was a mistake in hindsight 136p today just two days after .
Maybe a good idea for others to buy when I sell .
Can not get them all right , if you get over 50% correct you might be doing well .
It's tough if you have to sell now. I am hoping to see a return by next year. I did by some below 100 so my average is improving.
Took 123p lifted 9.23am trying for days as funds needed for low margin .
Just under 5% profit . ( 3 years 5 months )
In since 1/5/2019 @ 11.75 ( 117.5 ? ) looks like a 1 for 10 consolidation 21/6/21 when ( D ) have a price of buy up at 162p
Thought I had sold at a loss at first glance .
The high was 177p on 26 May 2021 .
Year high 147p on 30/3/22 Low 92.5p on 15/7/22.
Today's 123p the high since July 2022 .
Covid low 60.5p 20/3/20.
Problem is the government never changes or wakes up here.
It is a ridiculously long time since this has been updated:
https://www.energy.gov.tt/wp-content/uploads/2022/07/MEEI-Consolidated-Monthly-Bulletins-January-May-2022-.pdf
These bulletins used to be much more regular, less in arrears and therefore a useful resource. Is the Government perhaps too embarrassed to report on their ongoing failure to raise production levels?
That is harsh - the 90s are worst case surely!
The medium term outlook seems good and SPT reform is certainly a help. I hope we are in the 20s within a year
Surely these reforms to the spt are very positive? I like the RNS highlighting where it benefits. I guess the fact the share sits in ‘blue’ amongst a sea of red says something but I would have anticipated a sharper rise?
The full text from the budget is available here https://www.finance.gov.tt/wp-content/uploads/2022/09/Budget-Statement-2023-1.pdf (go to page 159).
Looking back, Trinity have actually often take until the Wednesday before issuing an RNS on the budget (and last year almost a week). The news is significant enough for an intra day RNS, but whatever happens I’m sure it won’t be too long before they provide an update.
Thanks for the recap ab76.
Should have been posted on Txp . Time for bed me thinks
By the way you wasn't wrong about a few hrs as it three and a half hrs before he got to the oil and gas reforms.
The budget:
1. The investment credit has been increased from 25% to 30%.
2. The $75 SPT threshold for small onshore producers has been made permanent and the definition of a small field increased to any licence that produces less than 4,000 BOPD (note Trinity’s current production of 3,000 BOPD is spread over 7 or so licences).
3. The SPT rate for new shallow water or marine oil wells (which should include Echo) has been lowered. When the oil price is between $50 and $75, it’ll now be 15% instead of 25%. The next tier up is also lower.
4. Other energy taxes will be reviewed and amended over the next three month.
Hopefully Trinity will issue an RNS in morning (they usually do after a budget) explaining what they think the consequences are.
Hopefully followed up by some company PR!
Trinidad and Tobago’s budget will be live streamed on You Tube (see https://youtube.com/watch?v=648x2ewQWLY&feature=youtu.be ).
It starts at 6:30pm (UK time) on Monday. Be warned though, it can take a couple of hours for the Finance Minister to get to the energy sector.