Member Info for Masterfly7

Some with knowledge of the T&T market might remember when shareholders in Trinity oil & gas voted down the ability to raise additional equity at the 2023 & 2024 AGM. This resulted in the sale of the company. PIs fed up of dilution and arrogance from senior management..

At the 2024 AGM, Trinity proposed Resolution 7 (an ordinary resolution to grant the directors power to allot new shares) and Resolution 8 (a special resolution to allow issuances without pre-emptive rights). 

• Both resolutions failed. Resolution 7 was defeated (49.63 % in favour vs 50.37 % against) and Resolution 8 also failed (49.51 % in favour vs 50.49 % against).

The term debt free gets banded about on this board far too often. Predator had zero revenue until the last 6 month and then only 65k. Reserve based lending wouldn’t have been an option. There would have been no realistic option to borrow.

As for fully funded runway - how many times have we heard that line followed by a placing?

Where is the available cash to fund Snowcap or Mou-6? The only possible prospect beyond a placing is an asset sale.

Dsam55,

How would you value your so called base layer (production + reserves in Trinidad). If this underpins the share price it would be an interesting topic to discuss.

T&T was forecast from h2 24- end H1 25 to generate net operating profit of $3.1 m….

That’s quite some miss!!

During the period ended 30 June 2025, the directors agreed to reverse the bonus accrual in respect of amounts owed to a director that resigned on the 11th September 2024, who did not meet the termination agreement conditions.

The company is very well positioned to provide for PG and his chums. It’s always this time next year Rodney.

The switch to focusing on T&T is almost complete. I don’t ever expect Predator to produce revenue from Morocco.

The problem is the gas….

Tingas is 75 now, think he is enjoying retirement.

Cephalo,

Can you kindly explain what debt Challenger energy are saddled with? They have zero debt and many £m in the bank. They sold T&T to focus on Uruguay and despite years of trying could make T&T profitable.

CSB - it’s not complicated.

Try reading the RNS releases over the past 2 years. Delays, targets missed, no gas flow, very little revenue.

T&T was forecast from h2 24- end H1 25 to generate net operating profit of $3.1 m….

Morocco - testing guns small and large failed, sandjet failed. Mou 5 - zero.

Beware to rampers who trade very short spikes.

Jim Johnson CEO of Hunting plc in the Telegraph today:

Labour’s “cult of carbon” has forced one of Britain’s oldest oil companies to shed dozens of staff and shut down 80pc of its UK operations, according to its chief executive.

Jim Johnson, the chief executive of 150-year-old oil and gas group Hunting, said he was being forced to close four of the company’s five UK centres including its main Scottish site because the Government had destroyed the North Sea offshore oil industry.

He said the closures were directly linked to government windfall taxes and over-zealous regulations imposed on the industry to reach net zero.

“Carbon reduction has become a religion for the UK – but even if Britain cuts its emissions to zero, it won’t make any difference to global CO2 levels,” he said.

“Your politicians have sacrificed Britain’s future to the cult of carbon and it’s set to become a poorer, weaker country.”

CEG view on the assets we are buying:

Our initial view in assuming ownership of these assets was that we would be able to generate organic growth in production from the existing fields. However, despite efforts ranging from application of efficient mature oilfield management practices and field improvements to enhanced oil recovery (EOR) initiatives, production growth as we had hoped for did not materialise, given the age and condition of the fields.

Perhaps our new wunderwaffen of wax treatment will have more success than sandjet.

Beware the rampers…

Haggling over the odd $250m! Yes only 10x the market cap of the company. Quite amazing that someone would post this rubbish.

5 wells, no flowing gas, no successful flow tests

Multiple size perforating guns failed, sandjet failed.

What is happening in T&T? No idea on production.

PG seems relaxed as yet again he has somehow managed to keep the show on the road without a shareholder revolt.

Same old same.

Big sell of 5.6m shares, does someone know something? Can’t be profit taking!

The only read across from TXP is they both used Oak securities. Remind me who produced the marketing report on PRD with a target price of £1.47

Time for change.

Let’s pay PG to produce a report

They won’t be testing it this month or next month! Oh but btw we are debt free (because no one will lend us anything). Suspect there won’t even be any ‘unsolicited approaches’ to fund the eventual testing in shares!

Should read - please don’t tank the share price anymore as we will need to raise funds again soon.

Time for PG to retire

PG should have been on borrowed time for the last year. BOD are all his chums. He is clinging on with the hope of Trinidad wax before retirement.