Member Info for mhow

Yes agree it might be other factors so just speculation on a wet and windy day! RRL RNS on the 2nd mentioned their 2018 programme will be released by the end of Jan so my only other thought may be that they would only look to release their full year plan knowing what the situation is - did I read that TXP CEO predicted 22nd Jan, we might expect more news to filter out around that time...

After an RNS featuring a return to profitability and director's purchasing above current price, why would you sell at 7.81p!

I don't want to tempt fate (and unlikely as it may be), is there a chance there might be news on SPT on the horizon - all trinidad oilers look up today, txp, rrl etc.

Looking at all those trades, a lot look like buys to me - can't see why we're slumping, expecting another good quarterly update as we know the production rate is still growing nicely so not particularly concerned - what are everyone else's thoughts?

Yes, all of the news filtering through on SPT reform is to ensure the T&T government can financially benefit so primarily the reform will have to be in their interest but oilers need to know where they stand so they don't stall on growing production

I check the SP daily and do think that leaves you mentally more susceptible to fluctuations but with AIM they are big % in both directions so I take the average over a period of time - the last few weeks haven’t been great but the last couple of months have been a major positive and more good news to come, still here and still seeing a big + Maybe not 25p by Xmas - hey, it would make my Xmas if it was! But 18p maybe and 22+ after Q4 results and the bopd will be ever closer to the 3000

I did see some notes on SPT a few days ago, is there an expectation of an announcement in the near future or are we in the dark as to how far the consultation is progressing?

Reported in Q3 results: 7.4% quarter on quarter increase in Group average production volumes to 2,506 bopd for the three-month period (Q3) ended 30 September 2017 (Q2 2017: 2,333 bopd) Then, outlined in Sale of West Coast Assets RNS: bopd production rate was 2,754 in October 2017 You can see the consistent growth in production rate, the company look to be moving from strength to strength so it's hard not to be extremely positive for the long-term prospects of the company. BD mentioned that the short-term goal was to prove to investors that the past is the past and the company are now a slick, profitable outfit. A couple more quarterly updates will prove that in abundance imo...

"a daily production rate of 2,754 bopd in October 2017" doesn't seem any reason to be worried, -10.45% drop is a great buying opportunity

Hi Confounded - this was released from TRIN on 03/10 We have started a review of the energy tax regime in order to simplify and rationalise the terms of both Production licences and Production Sharing contracts. The main objectives of this reform are to encourage investment in the energy sector and raise the Government�s revenue-take Critical areas being addressed are: � Making the Supplemental Petroleum Tax responsive not to price but to underlying profitability; � Extending the Supplemental Petroleum Tax to gas, which is now the country�s main petroleum product; � Reconciling and simplifying the fiscal regimes applicable to the exploration and production and production sharing systems; and � Standardising and uniformly applying appropriate royalty rates to all crude oil, condensate and gas. Negotiations between the energy companies and the Government are well advanced and we expect to be in a position to present the new oil and gas fiscal regime before the end of this year. Bruce mentioned in the investor Q&A that they are part of the committee discussing the reform so i'd expect it'll then go through the government for ratification. Mhow

Hi Confounded, That's the likelihood - watching the investor Q&A with Bruce the other day he sounded very calm when the topic on SPT came up, that's a good sign that there's confidence the reform will go ahead and benefit the oilers in T&T. He was expecting it to come this side of 2018 so it shouldn't be too long to wait for news and with that we'll hopefully see another attempt at the 20s

Any thoughts on the cause of drop today? The FT ran a piece on the slide on oil prices but imo that shouldn't have a major impact on SP when you consider how much oil is climbing up in the past few weeks

Would it not have been better to hold the placing above the current share price? A drop into 0.90 is fine from the point of view that long term we're going to see a better outfit but could it not have been less shares at 1.5p, giving further confidence that if it were oversubscribed investors were v. positive about long term prospects Might be a stupid question, inexperience showing there!

It's about time it started moving! Fingers crossed

11p! On an aside - I can't see any movement until full results posted, been pretty stagnant here for while, needs a good kick up the...

After the good news announced in the trading update and the share price hasn't moved - we seem to be in a much better position than when the SP was at 1.6 and even back to yielding a profit which looks to grow going forward and yet the buying still isn't there! Sitting tight but hoping this wakes up soon

This is probably the most confident i've felt holding this share - I've been looking forward to the trading update since the H/Y update suggested revenue would increase toward the latter half of the year and to have that reaffirmed is great. Opened up 17% higher and dropped back to a 5% rise - this was 1.5p pushing 1.6p when there was little positive outlook so i'm surprised it hasn't pushed on higher. It annoys me when you keep seeing the "this will fly tomorrow, next week" on the boards but based on a positive update like this I would be expecting to see the price push towards those levels, not a fleeting push to 1.20p and back down again.

1 mil sell today killing the price?

Zinc Media (ZIN) fell 18.52% to 1.1p after it posted a much wider H1 pretax loss of £529,000, from a loss of £136,000. Revenue was lower. It did, however, note profitability at the adjusted EBITDA level from continuing operations Question to posters on here just to spark some debate, with that last line in mind do we foresee growth in SP between now and the full results? As we see the company has shaken off previous loss-making divisions I would have thought more confidence? Is the big drop a result of lots of sells when the price didn't shoot up this am? Still fairly new here and interested on people's opinions! GLA

Cheers Shenners - fingers crossed it's the news we're hoping for ATB