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The marked sells at .3144 were also buys, one mine - having raided the piggy bank!
I hope that once the consultation period is over we will finally see the back of JR as JW takes drives the business forward.
We need some luck and a change in strategy. Sovereign wealth funds are moving out of oil across the board and they won't be back. A decent dividend policy is now the right approach and the only way to see a return on investment.
Last night's outcome surely makes the case for getting IM done more compelling than ever
Tango, but were they not hoping to raise £1m? Problematic in that it was not at a market discount and now leaves them tight for cash so more expensive borrowing!
Right now a favorable RNS would provide a favorable nudge to the OO
My thinking is that if a share buy back resulted in a significant increase in sp compared to current levels I, like probably many other LTHs, would be very tempted to sell a chunk of my holding and not necessarily at a profit. £4m on buy back may not achieve much, the same as a dividend gives an immediate nice return and establishes a long term attraction to the stock for investors.
4m a buy, I bought at just below .32 similar time
I guess it will be all change in the 3% owners’ club, it will be interesting to see who?
After the 2nd RNS added 800k, there has got to be something very compelling for JW to have succeeded got this placed. Correct me if I’m wrong but none of those nasty warrants attached.
Well put Setanta, I wonder if the motivation for H&W is a behind the scenes prerequisite to obtaining the imminent go ahead for Islandmagee. If so the fine, otherwise we could have sat on the project and avoided importing considerable risk and financial dilution
Islandmagee is a great project, I fear JW has been over ambitious and it will prove to be an expensive lesson learnt. H&W present an opportunity but ar what cost.
Agree his comments would not have been helpful, perhaps posted out of frustration or despair! Unlikely to be the cause of today’s drop
So drops into the.30’s, something clearly spooking the market today, rather worrying
As Bruce points out, the world will still need oil for many decades to come, but problem is not at 80 million plus barrels a day. Long term the price will stabilize below $60 and will most probably decline, as world production constantly exceeds demand. I can’t see a business case in going for growth. My fear is that such a strategy eats up the cash surplus and never shows a return to shareholders. If that is not Trin’s intention why otherwise sit on the cash?
Interesting article in Telegraph today about expansion of production in Brazil, Guyana, Canada and Norway which in 2020 will increase world production by 1m barrels per day and a further mill in 2021. Prices likely to decline as falling demand and over production produce a glut. Perversely for Trinity, this may help if price drops to just under $50/barrel. However, I would much prefer to see a dividend now, rather than investment in new offshore fields which may never yield a return.