RE: 6.8p31 Dec 2025 11:32
Crl123,
Just to be transparent, I sold completely out of TXP over a month ago shortly after the quarterly results and openly shared my thoughts on discord and to other shareholders off the boards, so I am posting here in a neutral context.
I do feel sorry for TXP shareholders and sorry that the difficult geology has not come good in Cascadura recently (to Rossannon’s point). First well was the best(so far), no one could have predicted that.
That is the nature of Trinidad, management and shareholders know the geology is hit or miss, no one can be blamed for this.
I see the current well as a 100% requirement for survival. Management know this and know the negative working capital leaves them in serious risk. The market is pricing this, it’s a long haul to survival, this well is step one, and at least 1 or 2 more needed after it to pay the bills. VAT repayment is not enough on its own, you do the maths.
Perhaps Baay is shrewd in that he won’t risk his own money until he sees this well’s success. If I was in his shoes, my motivation would be to purchase enough to keep me in the job - surely keeping his salary is what motivates him. If he really saw low risk upside at this point, he would have bought a month ago and not hesitated - even in this point he is painting a negative. If he isn’t buying, why should the market? He knows the risks better than anyone…. the drill will now do the talking.
What you can’t blame management for is the geology (I have sympathy). If well 4 and 5 had been the sweet spot we all expected, the situation would be entirely different.
Where management can be held accountable is for the botched fund raising in May, it was then followed by another in August (which was a fair fund raising) and again in October(poorly managed) and the uncertainty flagged in a possible raise needed again as highlighted in the results.
Having said that, they have got the company to this point and to another well drilled, so company can survive, AB’s post is very fair and balanced.
What I don’t understand is why you’re still in the stock if you are so against leadership and don’t see upside?
It’s weary for shareholders and turns potential buyers or former shareholders away, you really aren’t helping sell the story to potential shareholders. It really doesn’t do you or anyone any good.
Why don’t you invest elsewhere if you’ve lost trust? Give shareholders a break, your repeat posting isn’t beneficial to anyone at this stage, everyone knows the situation, and right now, it all depends on the next well result.
Leave it be, take a break.
Sign In
Follow the stocks
