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Quite agree. This is merely confirmation of what is already known. If the 'heavy news flow' that Cully referred to in the Vox interview is all going to be about Trues progress on the new wells, it ain't going to do much for the SP sadly. All ready known and written in. What we want to know is what are they going to do with the cash in the bank?
Hardly surprising since we have had many weeks of off- loading in the 22/23p zone. Got to give way at some point. On a more positive note I cannot believe they would have divested themselves of the flag ship asset and then gone round to fund managers to drum up interest. Would make no sense at all. They must therefore have something up their sleeves to sell! The one thing that cash in the bank does give them is a choice of options, whereas the previous set up would have proved to be just a treadmill. But for the moment we seem to be rather 'rudderless' unfortunately. The sooner we get some positive news the better. Personally hope they do not fritter away the cash on DTU/Helios dreams that come to nothing. should stick to revenue generating projects.
that RP says this deal has put us (in terms of money in the bank) 18 months ahead of the old arrangement. That is well worth having, since bottom line after all is dollar in the bank. May be not as glamorous as spudding wells ourselves etc, but financially a better deal.
Trin has found it's legs at last and is starting to motor! Not a holder anymore myself but v.glad for the LTH. Well deserved rewards I say. Patience has paid off. GLA
Multi bag? Possibly, our Mrkt Cap compared to peers is still very low. (10m odd) Others chasing similar prizes to us are 30m+ . But unfortunately seem to be a whole handful of AIM oilies on the verge of 'drilling'. so may account for lack of interest and pitifully small volumes of late. Hopefully this might change closer to June.
Sadly the SP boost we should have had on the last 2 good RNS's seems to have been snuffed out by selling into the rise. Happens a lot when SP has been sitting low for some time and people accumulate then start dumping when good news arrives. But, still below recent placing price, and IMHO should be regarded as a longish term hold this one. Could be very rewarding (if you have the patience!)
'During this test period, TLP-101 produced between 80-90 barrels of oil per day through the annulus, which represented an increase in production of 120 per cent when compared to the flow-rate prior to the workover. ' Not bad for a 10 year old well. Shows what a prolific region this is for hydrocarbons. If TLP-102 can match then a reasonable revenue income for the co.
Not sure quite how things work with dual listed companies. $6.6m is around �4.6m. If the dilution was split between TSX and LON shares may not be to bad (if they choose the equity route that is). Have been interested in ZEN for some time, but will keep on watching for now...... GLA
Completion of the Proposed Acquisition remains conditional on, inter alia, satisfactory completion of the Due Diligence, the entering into a share purchase agreement and financing of the Consideration. (Consideration $6,6m) So how are they proposing to pay for this I wonder? Debt/dillution/Bonds etc
Actually not quite the right way to look at it perhaps....... 1 Million standard cubic feet per day MMSCFD = 1,040.00 Millions British thermal units MMBtu/day according to March presentation 'Gas export pricing to Argentina US$5.64 mmbtu' So 2,080 x 5.64$ = 11,731$/day Excluding all production costs/royalties/taxes etc. (Pity is not 344 bopd x $65.00!)
Anybody worked this out? From what I can gather 2mmscfd is basically the way to indicate 2 million standard cubic feet per day. On some of the conversion calculators of gas to bopd equivalent, this appears to work out as around 344bopd. Ok, I understand initial rates/not yet fully proven/flow tested etc, but surely looking commercially viable?
Certainly share your frustration. Not sure how long a flow rate test programme takes, ...had about 3 weeks so far. May be intending to issue flow rates plus work over results for 102 together perhaps. Surprised at recent selling, having waited this long would seem better to see it through to 103 drill. Hey ho! Each to his own....
HIi crl.. I am fine thanks...hope u OK ...have had a measure of success on some other AIM stocks but still think TRIN undervalued (and under known) . ntending to buy back in shortly. I understand accounts are 'rolling' things, and not static, but will be very interested to see how much of the 'operating profit ' ( 11m on last unaudited RNS) translates into bottom line profit. I do understand that they have been reducing debt etc, but there should still be a figure for profit after EBITDA, etc. Have a good weekend. Fred.
Hi crl.... Fred here from some time ago. Was stuck in during suspension era. a while back. I abandoned Trin at around 16.50p having (thankfully) recovered some fairly serious losses. Still keep an eye on things tho'. In terms of fundamentals Trin still one of the most sound stocks on AIM . But sadly (so far) never seems to translate into SP valuation. Still the same old story of AT trades pushing us around willy nilly in any direction. Must say, looking at past RNS's re results, still slightly baffled as to how little of (impressive) revenue actually translates into bottom line profit.? Please discuss!
Thank you for the link. Seems TLP- 103 may only be the beginning of bigger things. Looking forward to June .... Hopefully well worth the wait, and with only 66.9m shares in issue they may become quite valuable!
http://www.valuethemarkets.com/index.php/2018/03/19/anglo-african-bull-run-continues-oiler-secures-key-contract-completes-workover-tilapia-aaog/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork Not sure I would call 4/5 trades a day a bull run quite! Still there is hope.....!
May be James Berwick can shed some light on this in Ben Turney interview. I think it more likely they will await the results of Tlp 101/102.(due within a few weeks). If successful could significantly increase bopd and reduce need for additional funding. The whole 'placing' notion was started by posters trying to jump in at a lower price. The BOD ain't said nothing officially!
Looking at the trades, seems as if we have a 'keen' buyer. Still only small quantities available .