Member Info for PipeDragger

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....

What's to stop a hotelier hiring a few docs and nurses and competing with ORPH. Doesn't seem to be a business area with high barriers to entry?

Gas flow means cash flow! Simple as that

Yes, oil and gas comes out of rock. Reservoir management is a big subject. A bit like porridge, needs to be flowed at just the right rate or bad things can happen like it dries up or pulls water. The most tricky bit is establishing how the various pockets within a field are joined up. Well flow tests usually take most of the big risks out. I am sure IOG Is on the right track and we only await the measure of just how profitable it is.

the true value will be hard to know. Until they are in production there is a nervousness that something is or may go wrong. Hard to think that 28p is fair value. Just wait and see.

All we know is that it might bubble out in a few months. Everything else is a bit if a guess. The last few exploration wells drilled certainly didn't work out.

Nope, postponed. :-(