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Wow, testing out 1000ft of net pay in the next few weeks, starting with the lower zone that is under such high pressure only one rig in T&T can handle it, is classified as not much is happening..... TXP at this MCAP Is crazy and will be interesting a lot of people atm.

As someone pointed out to him earlier TXP is not a stock followed by hot money, just quietly rerating and finding its new value. It has some profit takers to digest along the way, but the simple fact is £35m MCAP seems very cheap given the two very exciting new prospects just discovered. That will work itself out. I personally believe 70p is not far off the mark when the oil well and gas wells are producing and hopefully producing well. But the market will price things in as milestones are hit and that production nears. Today I believe extra value was added due to the colossal free flow rate and halving of the previous drawn down rate, I am no expect but that can only help the robustness of long term production.

It would get a lot easier if the the government reformed to help nurture the small to medium sized producers.

Some huge after hours trades went through and we closed above 10p! It is a small win but the best position TRIN has been in for some months.

At 1.75 exchange rate we should open at 24p if we open in line with Canada.

I was very keen to see how Canada treated the news and they have behaved very much as I thought we would, hitting 28p equivalent. Not sure what kept us in check here today but looking good for tomorrow.

Lower Cruse was what led to LGO (now CERP) having my best every result in a share. It went up 700% on the back of a lower cruse find. Great we encountered it here also but the main target on this well is stunning in comparison.

Edited to make more sense!

Lower Cruse was what led to LGO (now CERP) is where I had my best every result in a share. It went up 700% On the back of a lower crude find. Great we encountered it here but the main target on this is stunning in comparison.

Worth emphasising this is all on shore also!

Converging

FaT, I am in for the Saudi Assets, things seem to be converting very nicely there.

As I have been saying KEFI the gold producer may start getting a lot of attention for the copper finds it has made.

http://www.thomasnet.com/insights/tesla-warns-of-lithium-ion-battery-mineral-shortage/

FaT, let’s hope the numbers speak for themselves as they sink in. We are in such a suppressed period for the mining sector that the opportunities here are exceptional. If Harry can deliver in Ethiopia, I think people will start taking the SA assets and other Ethiopian assets more seriously. It is a very tough sector to deliver finance in a ATM but commodities will have there day soon.

Fingersandtoes, great post, I bought in on the SA news as for me for the very reasons you point out makes an exciting proposition, for the CU as much as the the gold story. SA are looking to move from their old oil economy, CU is going to play a very signifiant role in that move. 4% CU won’t sit in the ground long if we are to make the transition from oil to electric economy.

https://www.youtube.com/watch?v=xZAcFCRSNAg

https://www.youtube.com/watch?v=e-NrgIJ_Xnw

An excellent report just out.

https://www.valuethemarkets.com/wp-content/uploads/2019/12/TXP-report-for-web-02122019.pdf

I wondered why the MM appeared to be nipping any attempted rally in the bud last week. Canada is a near recent highs and there seemed a disconnect. It makes a lot more sense now the tip is out and they have accumulated the necessary buffer for next week. Interesting times, well done the long term patient holders, if PB can deliver on this next well the current lowly MCAP has a lot of room to the upside, like multiples!

The way I am reading it also.

Otemple, I am 100% with you on this and have been writing to the TRIN team, Bruce included. They have stated their reasons not to, but I agree with you that it gives the best bang for buck all round, compared to a dividend. I do trust their judgement as to the best use of our war chest, but it is hard not to desire a quick fix like share buybacks when patience is running thin and the company is so aloof with their other options.

Time-lapse of the gas flaring. https://youtu.be/mx2_A527zSo

Good to see TSX validate today’s close here at $0.265. Looking forward to see how tomorrow goes.