Member Info for PipeDragger

Maybe there's a chance of value again. (I thought all was lost/stolen before).

IOG shares are now worthless. The business has been sold for £10M but the debts and insolvency admin costs must be far in excess of this so I would not expect anything to come back to the original IOG shareholders. The only thing we do not know is whether, during insolvency, any money was made from production. Given the low sale price I think we can easily guess not.

Yes and its a shame that it is a suspended share. Likely we are all going to be shafted in a constructed insolvency. Another dud share

Shareholders are irrelevant now. Either TXP or LO will take over and the present TRIN management can just relax - even less effort required - talking to lawyers is expensive but it sure beats the hard work of hydrocarbon production!

Agreed. If I read correctly. if TRIN pay out money to persuade TXP to release the agreement or pay dividends etc then that money comes off the LO offer for the shares.

TXP hold the cards - it is a done deal - so why should they give it up? There is even a chance TXP might be well above 50p in a few months. It will be interesting to watch how this plays out.

Trinity seems to be locked into the TXP deal so why are they not at 1.5x TXP price? i.e. 45p.

It would appear from the plain reading of the RNS that TRIN are expecting Touchstone will withdraw from the process later this month so that the cash buyout can proceed. Not much chance of that (unless TRIN offers TXP a large bung of cash to do so). The circus has few more acts to go before the tent comes down.

Yes, It would appear from the plain reading that TRIN are expecting Touchstone will withdraw from the process later this month so that the cash buyout can proceed. Not much chance of that (unless TRIN offers TXP a large bung of cash to do so). The clown show continues....

Trinity has become a clown show. Throw away money on share buybacks. Drill dry wells (but pretend they aren't). Let's all have dividends but then stop paying them. Sell out on the cheap to the neighbours. Change mind and go for a cash bung. No wait - we have already agreed to sell....... etc

Anyone remember the Judy Collins song punch line:

"Send in the clowns, Don't bother, they're here"

It is rough deal for the long term holders. Short terms cash for a huge loss on investment. TXP shares offers the potential that one day the SP may be much higher. My holding would hardly swing any vote but I would prefer a share offer over a cash out loss.

Politicians targeting BP for windfall tax ..... but not understanding that most of what they are targeting is non-UK earnings. Affects the share price nonetheless.

BIOG has suffered from an over-correction in the biotechnology market but it is a good pick now as the market seems to be creeping back up to true value. I am sticking with it.

That was true many years ago but the DB scheme is long closed and the ongoing cost managed.

The whole point of a listing is access to raise capital from shareholders. AIM is not working just now, notwithstanding how good or bad TGR is. AIM is mostly a gambling game for traders rather than a source of finance. It is a shame as the fundamental business has potential.

TRIN just lack the skills (and the petro geologists) to make a success so I am happier with TXP than without. (I hold both anyway)

From the 15th April RNS: "The Company will hold a session for investors via the Investor Meet Company platform in the week commencing 22 April 2024, following the announcement of its Q1 Operational Update that week." I checked that platform and no meeting is scheduled for this week or next. What is going on with this company?

Quarterly update is usually the last Thursday in April. Twitter X is also totally free of any postings. What is going on with these guys?

Things must be bad indeed..........

It's a kick in their own teeth as they are destroying their own personal share holdings. (Unless there is some cunning plan to go private and/or sell out the business to some other group that employs better oil-geologists)