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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.

I suppose one consolation the way the sp is going, won’t be too long before this is paying a 15% divi

Dodger, not at all, but I didn’t expect a further decline. Can’t see any other reason for the latest wave of negative sentiment.

Looks like the name change championing a greater association with Egypt is not proving to be the shrewdest of moves

Tend to agree, this isn’t going anywhere over short to medium term, having said that I am not brave enough to bail out now and return at a later date. A modest divi, which is affordable, would be at least something for us loyal LTHs and send a message to those intransigent T&T tax authorities - it may just boost the sp as well!

God alone knows, perhaps unfavourable HAW results

Very depressing, looks like we are right back to square one. Somebody has clearly lost patience today and decided to bail. Despite the seemingly bargain basement price I am nervous about buying more. Now would be a very good time to announce a modest dividend or a share buy back, I would favour the former.

These are buys this morning, at 0806, I was pleased to get the opportunity to buy back the £2k worth I had to sell recently and even made a slight profit!

GO, here what you say, but in under four years Trin has managed to part clear debt and build $18m+ in debt whilst being subject to SPT for much of that time. Admittedly, had there not been shelter from PPT the picture would have bee far less rosie. Going forward plans are in place to mitigate the anticipated ongoing impact of SPT and as such Bruce stated, at the investor presentation evening, that he expects to continue building healthy cash balances. A modest dividend is surely affordable and sustainable.

The Board are at least talking about it, so come on guys a dividend of 1p is very doable and sustainable as of now. A solid business paying a healthy dividend is an attractive investment proposition, and if paid quarterly, at 0.25p means manipulation is more difficult in view of the need to be in on the exdiv dates.

I would like to think that today’s RNS Is a curtain raiser for the big news to come by next Monday. However, I fear that may not be the case.

Otemple, very well put, perhaps I have been here too long!

Reggie, you’ve had your explanation, suggest you email Tracey if don’t take to from us or move on

Precisely, past tax losses that they can carry forward.

Precisely, precisely, past tax that they carry forward .

Reggie, my understanding this figure reflects past tax losses which shelters Trin from having to pay PPT (profits petroleum tax) for some years to come.

numb, how do you know? If so will be costing them!

Spellbrook, on another bulletin board yesterday I commented that we should not get ahead of ourselves, after all this is TRIN. Despite high expectations today the share price did not perform particularly well. I must admit I’m beginning to suspect a conspiracy to keep the share price down, perhaps to take a business private!!

Mark, yes that's the plan but Bruce is adopting the cautious line on HAW and, correctly, won't be hurried into basing decisions and issuing results of the trial until he is sure of the outcome. He did comment that they are having to choke back flow rates on the well so as not to compromise the drill. Another interesting observation made is that after drilling any new well the initial year or so of extraction does not attract royalty payments, thus HAW higher, year 1, flow rates will deliver an additional financial gain.

Likewise Crl, this Business will transform itself over the next few years and those clowns thinking they are cleverly manipulating the share price now with their multiple minor cells will get caught out big time in due course. We will have the last laugh.