Member Info for jfk9

I only say that because the transactions at 1434 and 1446 were both buys by me at 15.74p through Hargreaves Lansdown

The 240k reported sells were largely, if not all, actually buys

Fabulous RNS and sp hardly shifts. Suspect many of today’s reported sells were actually buys so shares traded today were a quarter of 1% of stock on issue. Same old problem no stock available so mms can’t benefit from price rise and will do all they can to keep it down. All the time savy investors grab a little more. If price holds tomorrow I’ll be selling others and buying even more Trin. Missed out today as skiing in St Moritz - on the back of Trin’s success I hope to ski here again!

After they pay of debt.and CLNs I would much prefer to see payment of a dividend of 3-4p which rewards patient shareholders, massively illustrates the undervaluation of the business and sends a message to T&T govt that they need to sort SPT if they want to stimulate investment and growth. A few years of that healthy divi would soon do wonders for the sp

Not even that I got 25k for starters

I think the mms may struggle to pick up more. I was not surprised to see the 15s again and took the opportunity to re-stock at 15.65p and these will now be out of circulation until at least 17.5p is reached

Despite living in London I unfortunately am not able to attend this time around, but hoping for a reassuring update following the meeting!

Wait for 19p then sell again before the inevitable drop back to 15p. Lack of stock means the mms can't make any money out of a rise

Daily activity remains very low but someone still seems prepared to drip feed the market to keep price suppressed. I picked up a further 21k today, never expecting to see sub 15.5p. Pressure building , mms can't keep the lid on indefinitely.

Keeping a very tight spread but not many sellers out there, mms must be very short if stock.

Reduced the spread and raised the bid, looks like they are short of stock. I bet they would have been prepared to pay 16.3 for if offered half a million.

Easy to become fixated by one stock when oil price rise means great opportunity elsewhere goes begging. Over the past week I have reluctantly sold a tranche of Trin and increased my holdings in Soco, Hurricane and Serica. Time will tell.

Not anothrr one!!!! Might pop along if not washing my hair or watching paint dry!

Gabriel, many thanks for such a comprehensive response I will endeavor to digest it. It is interesting to observe that followers of CERP, which I slso have a small investment in, are anticipating a valuation of £’000s mill soon and have no concern or perhaps knowledge of the T and T fiscal regime. On shore is it your view that Trin’s own production costs are around the $20/barrel level?

Thanks Crl but exempt for how long at current production levels? The back tax owed is about $10 mill is it not? about the same as the outstanding loan notes. SPT at 18% of gross income must come to about $9/barrel leaving a profit of $15/barrel which presumably Trin retains in full whilst PPT does not need to be paid.

Yes Crl as you stated previously but why? They need to pay past ppt owed but exempt from ppt due to current production, doesn’t stack up! Can you or anyone else please explain

As I recall Trin are not liable for PPT at present because of previous losses. So does that mean they are only liable for SPT at present and if so when will they be liable to pay PPT again? Does that effectively mean the past PPT still owed is paid from present PPT avoided? Can someone clarify please

I fear inertia will prevail and prevent any meaningful revision to spt. That being the case Trin will just have to continue to exploit its low cost production on shore assets, make a tidy post tax profit of £10 mill and pay a dividend just shy of 3p, that’s a pretty good worst case scenario.

All very frustrating, I think the mms will drop the bid and hope to flush out a few more gullible sellers. I can’t see there being merit in shorting as there won’t be much stock available to recover positions. In the unlikely event that the offer does drop to 13p I will certainly make some funds available to buy more, despite the fact that it means having even more eggs in one basket!

The question is what would refurbishment of Rough cost and what would a refurbished Rough provided. One would hope that Islandmagee can provide a commercially and economically more viable solution. If not, when th UK wakes up to the need for ongoing gas storage, the refurbishment of Rough would surely take president, which bodes well for nutter Naz but not the rest of us.