Member Info for crl123

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Perfectly valid and necessary question I didn't know what SPT was until 1 year into Trin. By the way.."this"ll fly" ..... yeh right. Bo**oc*s. We know it doesn't work like that. Shares are shares. So much boll**** is posted -espec on advfn. I don't read it any more.

is Supplementary Petroleum Tax. All governments want your money.Even " Communist" China and Dictatorial N. Korea. So they take it from businesses too as you know. Normal tax at 50% is PPT . Trin don't have to pay this for years due to losses. SPT is an extra tax charged when the WTI oil price goes above $50. Trin sell at 8% discount to Texas so they pay it at $54.4 . But this has to be an averaged price over 3 months. So it is not done daily or anything. It rose above 54.4 on 1st Nov. So this has made some people skittish. It is 18% on onshore oil and 33% offshore. Trin needs to accumulate profit next year so SPT is not a good thing. It is an outdated 1970's boom-tax. Remember when the lights went out with the power cuts in '71. Oil was rocketing. Defunct and outdated tax now. Allegedly due to be adapted to profit in December. I think there is a fair chance . I share GO's political cynicism but T and T may need a repeal to inflate its economy and promote growth. SPT is mor of" same old". Hope this helps. Re. the dip... it prob would've happened anyway. End of news flow. This is AIM. It needs its "fix" . I'd still rather be where you are :-/

Yes that is their aim. Whether we have the SPT hurdle to climb yet .. we will see. Trin still in a far better position than all other T and T producers. They pay PPT too. BP breaks even at $58 I believe. ( not sure if across the board). Touchstone very very cheap onshore but big PPT bill. Man@ca- hi mate. You are doing what I want to do. My eldest went to Uni in US. I have been so many times -not Oregon though GO :-( My fave car is Mustang conv. 4.0 litre. Rent one every time. Bliss. Try Pile's Peak...younot too far away. Re.Trin Well we had some sellers and the no-news blues . That's what this is about. Bit more to it. Oil went up and could trigger more tax. Read last few posts. Forget Trin.. enjoy adventure....more important than stock-watching.I still envy you!! My dog is my ball and chain. Ran away from lennels when we were in middle of Appalachians. Never go to kennels again...hence we stuck as no family :-( Trin on a downer until SPT news or drilling next year. Best to forget and live off your real money out there :-)

GO. I watched the presentation 3 times ( well the last 10 mins of it 3 times anyway). Yes we are in SPT territory . But only since 1st Nov and only around 1-1.5 dollars. Now is it a prudent thing for T and T to squeeze what they can now by not revising it? I sense a powerful bearishness in your last post. We are 2 weeks into SPT. 18 % affects 2/3 of production . 33% affects 1/3. This is far less than 50% PPT. I have no axe to grind. We share the same boat and journey. I think that we will know by Xmas ( 5 weeks) whether it is going to be an issue to factor in as real. Already 8 weeks since we attended Trin's results in London!

govt.

Fair does.But T and T may tweak SPT rather than overhaul it.Morph its nature so to speak.T and T doesn't just need tax revenue...it needs the economy to grow exponentially in order to guarantee that tax is not just a drop in the ocean(no pun0 and dependent upon WTI. What if oil falls below 54.4 on a longer term basis. How nice for the bovt to know they have a tax which will be a constant and based on greater production regardless of the price of oil. Win win. Now I don't count on its overhaul either. I did have an inkling they would look at it as it had been promised 8 months previously. I never ever count on the fulfillment of political promises.So ..yes...it is best to assume they will not....just like one should assume one should not reach 3 score years and ten. so ''don't bank on it'' is good attitude. But as you say....good management should have this unexpectorant attitude already in mind. But I do know they are lookin forward to details...whatever they may be....with no false expectations. Either way as you say...no PPT for years makes Trin a cut above other producers!! Years ...not one year. WTI may retreat soon (maybe not). All the more reason for the govt's clammy hands to try to restructure SPT before it becomes redundant. But....oh yes......don't count on it .......

I think GO should reply . But I woukd like to say that BIR and MEEI are back-taxes from before restructuring. Since restructuring there is mo PPT to pay on any wells due to v. large losses. This freedom from PPT will continue for several years as the loss was so high. BD made thiis clear last week. SPT is the big catslyst as it strangles growth and business stability. Being based on profits it will be rather like income tax bands and not an all-or-nothing affair. Next 5 weeks crucial as news on SPT reformation pledged. T and T will make more money from a supplementary profit tax than from a supplementary petroleum tax set at $50.1 ( 54.4 discounted threshold at 8%). It's in their benefit to revise it. SPT at the moment is a strangle on GDP growth as its implementation effectively just recycles the domestic product. With more production GDP should actually grow as it is not a closed loop due to increased production. I hope tgis helps. Macro-economics is an imperfect science. Exciting time potentially-next 4 weeks as long as it does not disappoint. It'd be good for GO to input here too.

Seems to me that BOD and execs have more to lose by CLN dilution than if tgey got together and paid off CLN if worst came to worst. 25% dilution or 93 m shared is a lot of share-loss to them. Segel himself owns 11% and has very very deep pockets with hos Mako financial services and The Living Trust who hold these shares as well. He has worked at tge sharp end of finance all his career and knows tge ins and outs. I'm not sure they would together allow conversion. Lose lose really. Lose farcless by just paying them off themselves. 7.6 mill is far less when shared. Far less thsn 25% dilution when you hold 11% of the shares..6% BD I think.etc etc Conversion seems very bad idea all round

Thank you for that. I did not know that. TBH I am surprised that the potential investors at the conferences did not ask about thie CLN's. Makes sense to me now why Jeremy so keen to pay off govt . early. can't see SPT being levied 2017 Q4 no matter what but its overhaul is crucial. The promise is by Xmas. But we shall see. Profit basd allows the incentive for growth. 18% onshore and 33% offshore is not crippling as 2/3 of production is onshore.But it adds to the royalty taxes and reduces profit stupidly. An ignorant tax brought in to cream off Texaco in the Seventies when oil was so high.Totally inappropriate now. Can't see T and T reneging but the devil is in the details. More importantly Trolls are real and alive and even if they come out from under bridges at times..they need to be put in their place. Vicious little creatures at times. Found potentially in any corners of the North or South Hemisphere and now breeding viciously via the internet. Rules exist to be bent and broken. Good for you. But be careful not to feed them or they grow. Glad u own a lot of Trin . Makes me feel I am not in this up to the neck alone. I have enormous faith in the management team.Probably more faith than in any institution I have ever worked in or for and certainly any company I have invested in. It may be AIM but this company should be in one of the FTSE's. Not sure why we are seeing such a pullback right now...I don't see it as result of CLN's spooking holders. STerm profiteers perhaps...but why not sell at 19p rather than 16-17p.Curious. They have a board meeting in a week I think. SPT is on the agenda. I too have enormous faith in the calibre of Bruce and Tracy and Jeremy. I don't know anyone else. Remarkably experienced and astute and nothing at all like the previous board post Bayfield.They run a tight tight ship here.They really should be acknowledged by the market....but this is AIM.

if you look at the AT sell trades that this is being tightly held down where it is. I could buy for 3 mins at 16.45 and then an AT raised it to prevent.The AT sells are implemented in order to keep this here. I don't know why.

I just watched it too. Great presentation.Bruce did very well indeed. Ridiculous that AIM won't recognise reality. He said so himself.

I assume your clinical analysis has not changed at all and you are as optimistic mid and long term as ever. I ask because you tend to see the clinical whole picture ratger well and disregard the chaff and "white noise" quite readily .

Yes. The seller bit was what I was referring to last night. It seemed the only catalyst. I just could not see a good reason to sell. Thanks for your usual clinical analysis. Don't forget RRL sale will increase liquidity in December by $4.6 mill. This should tide debt over. SPT overhaul is an unknown but either way it should not be triggered if it runs on a calendar quarter. At $55 Trin is fairly safe. I have as yet to understand BIR and CLN... an explanation by yourself would be appreciated. I agree that new reset in calendar year with drilling is way forward. I suspect we may sit in doldrums for a while.It has been known !! I am sadly prepared for it. I have no time for trolls and stirrers. They usually know f'all and get pleasure from disturbing others. Interesting socio-psycho development which the internet has facilitated !! Thanks for any further insights you wish to input.......

Any substantiated idea why the drop? I don't see WTI as reason

To be punished for making all the right moves,

Hamcutler. You are right. It just gets better and better. All the more reason for stealthy deals to buy on the cheap? Trin is easily punished. Low volume trades affect s/p readily..especially repetitive AT trades. Large individual trades influence the price MM's need to fulfil their trusty large client's order(s). All stealthily done before the s/p plummets.There is no market-based solid reason for a drop. Quite the contrary. The gallows knitters on Advfn just need a good scapegoat to attack . Nothing any different from whenbthis was at 20p 10 days ago.

two

I think this dip was due to a few very big sells. I think the last teo " buys" are earlier sells too. This would explain the sudden drop. If correct.

My opinion is that it has been engineered. So it is a blip in the chart.