Member Info for jfk9

I hope that the current flurry of sales is a tree shake of those who got in via the PrimaryBid offer. At a 30% discount they would’ve hoped to make a quick killing perhaps now left licking their wounds, though not as much as many of us long-term holders.

And that I suggest looks increasingly unlikely given the apparent lack of vision displayed by the Trinidadians authorities

Can’t see them wanting to sell out at these depleted prices, they have been around for a long time and I don’t think likely to be sitting on much of a profit, if any. Despite what the RNS states about David supporting the strategy, I wonder whether that really is the case.

BP, I suspect you may well be correct. I fear any return on IM will be poured straight into the shipyard black hole. Had they been given away that would still not have been cheap enough!

Courageous

Old tramp, perhaps I am missing something, but all those opportunities for F2F are out of the way places, not sure that’ll do a lot of good. Not so long ago, London was favoured!

TonyH, that is precisely my fear! As I recall there was always a very short intended time line between ML approval and FID. I doubt JW will ever be prepared to meet us the owners face to face again. I just hope something can be salvaged.

Sense issuance of a marine license, now nearly 3 months ago, we have heard sweet FA. Does anyone have a clue what is happening?

LC Looking at Q4 figures surprised to see that Q4 cash has actually dropped by $1.7m from 20.4 to 18.3. They only spent 4.6 on a combination of acquisition, hedging and Capex payments so net 2.9 after cash reduction, that implies they must have paid a big chunk in PPT given that income for Q4 of $19m. Where otherwise has the cash gone?

PD I agree with you, WTI now over $85 yet SP languishes. When WTI inevitably drops back on Trin SP will fall below 120p. Clearly their strategy is flawed.

A **** lifestyle company run to line the pockets of appalling management. They will undoubtably have no shame. I am pleased I substantially sold out sometime ago, I feel for those that didn’t.

Are we now about to rely on Ghana to keep the boat afloat?

He wouldn’t have got to mix it with Boris either!

Lamsailing, I agree with you, JW has screwed us big-time on his fixation with ship yards, which have never made money and always relied on support from government. Looks like another sell off this morning, which may herald yet more bad news. I doubt we will ever see a return from gas storage as any funds will be used to prop up the ship building fiasco.

PD I agree with what you say, but can’t help but feel that a modest dividend paid regularly would do wonders for the share price, so requiring less dilution should there be a need to raise additional capital, which I certainly would not bet against.

At least you get a decent dividend with Wentworth resources, you don’t even get that with Trinity!

Tomorrow’s good news is likely already ‘baked in’ to the sp

Latest RNS, not accompanied by a patronising JW quote - just maybe he has taken note

Odd that PrimaryBid appear to have closed the offer early. I would be surprised if they have had an overwhelming response and even if that were the case surely they have would have been expected to close when scheduled and then reduce allocations.

Just have to hold tight and hope for the best, I fear JW is not to be trusted.

You can be sure JW will be doing what he can to avoid facing any long-term holders for quite some time to come. I fear this fixation with shipbuilding my cost us dearly.