Member Info for aligator

dinsalas32, These options are long term incentive plans. I don't think there was any salary sacrifice involved.

I am interested to hear if other posters are buying or selling as well as their views, opinions, etc of the company, the share price and the market, irrespective of whether I agree or disagree with what is written.

Certainly looks as if something has spooked the market, apart from global issues, in terms of TXP. PB said in his interview that Coho production is "transformational" for the company. Looks as if the analysts and market makers have, given PB's past performance, interpreted that as negative, not positive!

Just goes to show what the market/market makers think of the historic shenanigans that have impacted this company. But, as I said earlier, Coho production has been so long coming it has already been priced into the share.
The operations update, with a few weeks/months coho production should see a positive reaction but the company and, specifically, PB, have got to impress the market between now and then.

Cant see massive gains in an sp which has largely discounted the Coho first gas event and will undoubtedly suffer selling into any price rise. I am no market expert but my take on the situation is that a recovery/rerate will only occur with several solid months of Coho production history and approaching Cascadura first gas. I will, of course, not be sad if I am proven wrong!

offended, I would not bet your house on it. This government has presided over a near 7 year decline in the T&T energy industry and the ongoing meddling, dragging feet and obstinance by the MEEI and Minister Young does nothing to generate confidence in the industry's future.

Smasher, My post dated 30 September set out the process of the appointment of a CVA. Basically, from what I can read, the company nominates a CVA for the specific job and presents both the CVA and work programme to the MEEI for approval. Once the MEEI approves both everything can move ahead.
There appears to be some silence over the timing of TXP's recommendation of a CVA to the MEEI and the MEEI's approval, which suggests to me that TXP either screwed up in the timing of approaching CVAs and/or the MEEI simply dragged its feet.
What should be happening now, after some 10 weeks post commencement of the work programme, is that the CVA has either identified material issues or has given the facility a an appropriate bill of health. Either way, we should have an RNS because the continued silence from TXP is deafening.

Simply unbelievable. This is not just about TXP but about the T&T authorities as well and simply portrays them both as wholly incompetent, if not guilty of stating timetables that could never be met. This has become a serious political issue in T&T as gas production has declined year on year since 2015, effectively the date on which Rowley and his government were voted into power.
PB and his team have a lot to explain in terms of ever extending timeframes and to simply say nothing is merely rubbing salt into the wounds of investors.
I will be glad to exit this share at the earliest opportunity.

mppotus, It is a clusterf*ck, nothing more nothing less. Here you have a CEO who spews positively about everything, without any substantive proof that things will happen in the timeframe he envisages, and a government/ministry who, having presided over a 7 year decline in the country's oil and gas industry, and still seek to impose more regulation upon the industry, should frankly have been removed years ago.

Scott22, On what do you base your statement? I ask simply because the delays in getting Coho signed off have been momentous and only last week PB commented glibly that, although both he and Young had both been in London Young had declined a meeting.

For those unaware, T&T's proven gas reserves peaked around 2005/06 but have basically declined since. In 2015, when Keith Rowley and the People's National Movement came to power, natural gas production was 3.83 bcf/day. During the following 6 years, it declined to around 2.4bcf/day - a drop of ca 37%. From November 2021 to January 2022, production rose to 2.89 bcf/day, but this was still 25% less than 2015. Simply put, the current government appears to have lost sight of its energy wealth and to have no desire to improve the economy (and the well-being of its citizens) through a revitalised energy strategy.
Having listened to Stuart Young's monotonous presentation (boy, is this guy in love with himself) I am no further convinced about where T&T is headed in terms of energy production. Indeed, the evidence is, based on TXP's experiences, that the country is headed backwards by dint of a seemingly introvert government and even more red tape created for the energy industry.
This is not helped by PB's apparent lack of relationship with Young, despite the company's statements that it has "excellent relationships with the MEEI" (in which was I would hate to be in the shoes of a company that was struggling with its relationship!), which all adds up to the interminable delays in getting Coho signed off and the challenges faced in respect of Cascadura and other field developments.
One could be tempted to conclude that there is more to T&T's energy industry (not least the speed - or lack of - at which decisions are made) than meets the eye. It is of course not unknown in developing countries and I will be interested to see what changes occur to reverse this downward spiral.

ggits, Many thanks for the earlier post to Mole and myself. Very useful to understand the issues, if only on a broad basis.
Somebody wrote that the share price is currently overvalued and that its true worth will be realised once it has shown it can bring in production at projected rates (or near to) and without further issues. I can comprehend this analysis, given the long list of historic problems and trust that the company can finally get its act together and create real value for its shareholders.

is welcome but cannot surely be on the back of the minor share purchases by PB and company? Looks like a leak and we are going to get a coco announcement imminently.

Viticoltore, There is a fracture of sorts in the Southwark well as there is a loss of drilling fluids. This is a development versus production issue but, to my untrained mind, I am assuming the downhole rectification would be similar.

BilkosBuddy, Acknowledged but I repeat from my earlier post "Intriguingly, TXP reiterated that the Ministry of Energy "has been very responsive and great to work with during the commissioning process" which leaves me still wondering exactly where the hold up has been."

Would appreciate relevant technical comment on the process involved in locating a well fracture (which I guess we have in both Blythe and Southwark) and repairing it. I presume that it is the art of the possible but are we talking complicated and expensive or something that the industry deals with regularly?
GGIS, Sailor, Pipedragger?

Ezhik, Your points are well made. However, my point is not about the work program but about when (in terms of actual dates) TXP approached/appointed a CVA, when it presented the CVA to the MEEI, when the MEEI approved the CVA and when the CVA commenced work. So far, the information available on this has been sparse to say the least and TXP needs to be open and forthcoming on this subject.

Thanks Mole. Don't disagree but the sp recovery specifically last evening is suspicious.

Yet again, the BoD just can't seem to get its act together in terms of these announcements. To make an announcement - which is neutral at best (and still comments that there is ongoing investigation) - solely about Blythe/Elgood was always going to focus the market's attention on what is happening with Southwark and, thereby, in the absence of positive comment, concluding that there are continuing/new problems. That said, the sp seems to be holding and yesterday's late buying would suggest that there is a leak within the company.

My previous post commented that TXP had stated that it had to "wait" for a Certified Verification Agent to sign off on the Coho facility and pipeline. I duly researched The Ministry of Energy website. It includes a section "List of Verification Agents Approved for use in Energy-Based Projects" and identifies 10 companies/individuals, of which 8 are based in T&T and 2 in Houston, so one can conclude that availability should not be have been an issue.
I subsequently asked TXP how long it had been waiting for a CVA to attend the Coho facility and pipeline. Interestingly, TXP declined to "details the specifics" but again stated that it had taken a "lot longer than forecasted". I find this response somewhat vague, if not a little concerning, as it suggests that either TXP was late in seeking to appoint a CVA or that, for some reason, the CVA has dragged its feet considerably in fulfilling its duties. I am not an engineer or technically experienced (ex-banker) but cannot imagine that such a verification process should take more than a week with the appropriate number of personnel involved (happy to be corrected).
Intriguingly, TXP reiterated that the Ministry of Energy "has been very responsive and great to work with during the commissioning process" which leaves me still wondering exactly where the hold up has been.