Member Info for jfk9

Just short of 3,000 barrels /day. Cheap production cost and great prospects with debt being managed down. Crazy valuation represents great buying opportunity of which I have been taking full advantage

The discussion certainly was around the CER and Adrian left us with the intention to make it available. I guess the fact that it has not implies that its release is deemed to be price sensitive and if made available may compromise negotiations which are perhaps ongoing now!

Setanta, also in attendance was Mccadder and Spudtheplumber, it would be interesting to learn whether they came away with the same impression as me regarding the CER. It was discussed during the more 'informal' session!

When we met with Adrian on the day of the general meeting, as I recall he agreed that this report should be made available and would arrange for it to be posted on the website. I don't think that has happened, I wouldn't have thought that it's release should be sensitive to any negotiation that might be underway.

Setanta, very good post from yesterday, I unfortunately also have a sizable holding and am sitting on a big loss. I think the biggest chance of a return comes from the sale of the asset. I don’t doubt that at some point the project will proceed but not with Adrian et al at the helm. He should be looking to preserve what little cash he has and tick over until such time as he is made an offer, I personally would be happy with getting shot for £5 mil, at least we’d get something back. My concern though he and the new appointees will swan about spend what little cash they have achieving nothing then come looking for more! All very disappointing!

Make the most of it! I am not displeased with my early morning buy at 15.449 and if price drops again over next few days I shall dip in for more.

Hope I'm not tempting fate, but this appears to be the new base level pending further good news. I have taken opportunity to buy back most of the stock I sold at 19p.

Gabriel, as Trin is by far my biggest holding I would be happy to see the sheet. My email is johnfk9@hotmail.com

Thanks guys most informative, so assuming achieved price per barrel falls below the spt floor (so spt doesn't apply) then for the past year and foreseeable future net profit to the business must be $20-25 per barrel yielding over $1.5 mill a month. Consequently this level of profit plus asset sale income means BIR and MEEI debt should be cleared shortly, paving the way to clear CLNs by the middle of 2018.

Gabriel, many thanks a very succinct and informative post. Can you please advise on the 7 mill owed to BIR and MEEI, I assume this is for unpaid PPT. In the meantime I assume Trin will have been having to pay PPT at 50% on production over the past year or has the company benefited from relief from the tax as some posters have indicated on the BB?

confounded, I agree with you. Just 0.2 % of stock sold and the price drops 8%, I should have sold a tranche yesterday, as may have then had the opportunity to buy them back below 16p tomorrow

Make enough predictions and you are likely to get one correct!

Crl, humor me, how do you get to a profit figure of $28 per barrel?

Shucks just missed out, with any luck I’ll get a better price tomorrow!

Pleased I sold a chunk at 19.5, just waiting for the offer to drop below 18p and I’ll buy them back again. Predictable mm behavior

There would be a 'fire' sale of assets to pay off debt and surprises, surprise nothing left for shareholders!