Member Info for PipeDragger

Rossanan, If TRIN do not proceed with Galeota then they should declare a special dividend for the shareholders.
I read some of the chatter about SPT but it isn't coming from TRIN directly. There is zero chance that they alone can force a govt to cut taxes. SPT does leave some profit. Better to have some profit tax than sit on you hands is what I say.

I assume the drop today is in some part related to a gas price taking a bit of a correction. Looking at IOG presentation it seems long on exciting (expensive - cash out) expansion while not wanting to even guess at production (cash in). Some loans to refinance in Sept as well.

It's is a long term hold. Such good potential.... but so little action. All time oil price high, sitting on a pile of cash .... but not spinning the drill yet.

When there is stabilized production levels reported. (Perhaps)

One always hopes they will get their act together but not this year it seems.
Familiar RNS story. Production is flat as they are not drilling new wells. After 9 months of analysis of the PS-4 they still haven't decided what to do with it. Some RCPs and swabbing and a bit of tinkering with controls. Maybe some new wells but elsewhere in the RNS they say they haven't ordered the hardware so we can't expect meaningful production improvement this year. Caribbean snooze. A dividend would really help!

If I was fixing a fault offshore, keeping the shareholders updated would be lowest on my priorities. (Getting production going again would be highest priority!).

Usually one comes out in April.

So once Blythe fault is fixed are we at double volume? Then does Southwark mean we will be at treble? Triple in share price would be a fine thing (not likely) but we have to hope for better news ahead!

Things going wrong is not unknown, even in the biggest offshore projects by the big companies. I could quote massive projects that went massively late and over budget by 100s of millions. In a small company with only one development there is bigger short term impact. We have no idea what is wrong and how long it might take to fix. At least the cash is flowing now and gas is top price. It should all come good in the end.

The new mantra for IOG..... most recent RNS seem to knock the price down for a while.

I was looking at the RNS on the new award scheme. It is based on 12.5% pa shareholder return over three years. That means 42% total for the shareholders. All going well they award themselves another 1% of the company. But what is the reference price for this growth? Not obvious to me from the RNS. Anyone any ideas?

This is good news, wells are flowing properly. The other issues are just the normal stuff that happens. Main thing is cash is flowing so chance of another fund raise is low.

it is hard to guess how good this is (or maybe not). I am staying for the ride.

Is the new adage!

As noted elsewhere, until we know the gas and revenue flow it is hard to assess the true value or potential. Obviously the long delay in getting to first gas adds to the debt. Most of my holding is from a few years back and my pre-gas-crisis target was 45p. I am going to wait and see what the figures come out at.

Why has TRIN suspended drilling for six months? Even the Caribbean needs to do its part in this war. They should RNS to explain why they are against producing oil.

We are all frustrated at the delay in first gas. I wonder if there is more to this statement in the RNS "as a result of a planned inspection the UK Health and Safety Executive have raised a number of clarifications required to be resolved ahead of start-up and this is being addressed".

Dunno, maybe just a panic market reaction to the end of the COVID plastic boom. Hmmm?

Great interim results today

Every project I have worked on has had chatter from doomsayers. That applies to monster projects like BP Quad as well as modest field extensions. When they eventually go live it all gets forgotten. As long as IOG can find the cash to keep ops going until revenue comes it will all come good.