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IOG has been a slow burn but the people behind It have form and know what they are doing. Getting finance from LOG was painful but necessary. Acquiring Bacton and the old pipeline and tying up more gas (as per the old RNS) are all astute moves. I expect the rewards will be seen soon. First gas expected this side of Christmas!
Once soon a time there would be a big surge following yesterday's RNS. Not this time. All priced in, as they say.
A plan for when the well bubbles out would be something.
Looks like you called it right
JakeK,
You are correct. It's not great.
Don't see the positive here. It might bubble out as early as next month. Or it might be 6 weeks later. But the well is finished. That isn't great but is what the RNS says.
Hurricane had their data room open to all the big players. They all looked at the data and walked away. Spirit Energy were the one exception but those drills didn't turn out well. It is a shame that the original CPR was wrong. Wrong it has been proven both by production and by those drills.
I thought all the other wells, apart from the single one producing, had all been disappointing. So what are the assets that would make HUR valuable?
I checked the full report on TXP website and they have not used hedging in 2021. Just high cost production from old wells. Oil price is helping for nom.
Postponing the last investor chat wasn't a great idea. Either they had nothing new to say or there is something that might be announced before then. We will find out in December.
Okay, put another way TXP are producing at 34.64 cost per barrel. TRIN all-in operating break even is 28.62 per barrel. I leave someone else to work out the all-in operating break even for TXP.
TXP netback is $27.77 per barrel. Saved by the high price of oil. TRIN have similar wells and netback $58.81 per barrel. TXP have high cost operations.
Wouldn't we all be delighted if Trinity management started to deliver investor value....
I checked over the last 3 -1/2 years since we last got thrashed with an unnecessary fund raise. SP has never got back to the same level. Only infill wells have been drilled and the usual swabbing to coax a little more out of those old fields. They don't say what they will drill next. Galeota seems to be always in discussion: year on year.
Expect a little drift in SP. If they get production as expected this side of Christmas then I am expecting we will be above 40p.
They haven't done exploration drilling for a long time. It isn't due to lack of a cash. They plan to do a bit of drilling early next year. So maybe we should see some good news by second half of next year. Snoozeville until then.
Touchstone showing once again what happens when you drill. Maybe Trinity will get around to it sometime soon.
Fantastic isn't here!
I don't think it is anything to do with IOG it is just a general wobble in the market ........
Without a plan for finding more oil, and having only one well operating, it isn't a thrilling prospect....