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Not to much chat here 14 posts to 9.30am on this news.
2 in the 5 days after my last post .
Share price yesterday of 36p the lowest since 2021 consolation .
Hindsight should of cut the loss on last August spike to 95p
11/1/24 Down 18% 36p
7/8/23 Up 35% to 95p
Todays news .
On AIM, Trinity Exploration surged 47%. Touchstone Exploration fell 4.4%. Touchstone said it has struck an all-share deal to acquire Trinity.
The all-share agreement values the latter at GBP24.1 million. Touchstone Exploration, an oil and natural gas exploration and production active in Trinidad & Tobago, said the deal will create a "leading Trinidadian operator of scale".
It said: "The addition of Trinity's existing production portfolio, along with its exploration and development assets, will position the combined group as one of the leading independent operating companies dedicated to investing in both onshore and offshore activity to grow Trinidadian oil and gas production."
As part of the deal, Trinity shareholders will receive 1.5 new Touchstone shares for each Trinity share owned. Trinity Shareholders will own just under 20% of the combined firm. Trinity directors consider the terms of the deal to be "fair and reasonable".
My broker has it down 9% a lesser 7.69% this site 5.71% spread. *36p
About 40 posts since last look 11 January 2024.
It has again returned to 36p as it did last week and on 11th January and 18th December 2023.
22/11/22 paid 106p for some , steady decline since then .
RNS Today
Trinity Exploration & Production - Trinidad & Tobago-focused oil exploration and production company -
Provides an update on operations for the three-month to March 31. Chief Executive Jeremy Bridglalsingh comments: "Trinity's core business remains robust and cash-generative, with no long-term debt." Focus remains on maximising cash flow from existing producing assets; rebuilding cash following the drilling of the Jacobin well in 2023; and maturing detailed engineering for the two principal projects.
About 130 posts since last look in August 2023.
My broker showed them down 18% at close this site down 10% with 5% spread after bad Rns.
In hindsight the good news RNS 7th August 2023 up 35% to 100p would of been a good sell .
The low was 18/12/23 when 36p share returned to that today .
Typo below rebought these and doubled up just before Christmas 2022.
Approx third of that price now.
Noticed VLS. low takeover this morning at huge loss for me .
AIM is to be well avoided .
Wow only 90 posts here since I last rebought just before Christmas 22/12/23 for 106p.
By last week they had fallen to 71.5p .
Good example of buying into the rise ,up 35% today at 100p.
10 months ago sold for 123p in Truss PM market .
ab76
Are you still in TRIN?
Maybe they will grow production or msybe they will announce further delays. Q4 update due later this month will confirm either way. Hard to see SP growing if production remains flat. They have again said they will start paying a dividend - that would help!
Where is the catalyst for these shares? Can someone elucidate of point the way? Thanks.
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 .
“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 .
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
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.