Member Info for PipeDragger

Last message on Twitter was 1st Feb. It must be really bad at Jacobin?

Seems to be the fashion. Molecular (was President) is going private. Not the only one leaving AIM as valuation is disconnected these days. This morning I noted REDX (not an oil co) is going private. Will TRIN go private?

The continual dive in the value of the TRIN shares means that the dividend yield is an increasing %. We have got to find some good news out of this investment graveyard -) LOL

It is good news but 10M USD is not a lot of money - it just keeps the lights on for a while. If they get regulatory approval then it becomes far more significant. Lisa Anson certainly seems to run the business well and land these deals.

Trinity - value and hope destruction.

Mostly sentiment driven but the consistent inability of Trin to find a way to lift production or offer some credible hope for the future is the biggest driver.

AB76, you are taking the dividend comment literally - I am just observing how poorly the company has made its investments. Trin share price has been in sustained decline because (1) the directors for years have rewarded themselves with options but not paid a dividend. This year we have had a modest dividend. (2) The other problem remains unresolved and that is production. They have been working for 7 years to break the 3000 bopd limit and nothing works. The previous 6-well programme was no more successful than the present single deep well. Then there is Galeota but who is going to pour in 10s of millions when Trin have not shown enough understanding of geology in smaller areas? Jacobin has emptied the piggy bank so unfortunately it is just another year ahead of waiting, waiting. Only short term chance of a proper return is the company gets bought out but I don't think the price would be amazing.

Just think what a mega dividend we would all have if the 10+ million spent on Jacobin and share buy backs had been paid out instead. They could then top it off by selling the whole company.

Hindsight is a wonderful thing but really they need to think more carefully about how they spend the cash.

Grim short term future. Maybe future some hope (maybe).

Interesting that Jezza stated 400bopd would make Jacobin a reasonable result.

Two dud zones, one left to try. It seems Trinity is not very expert at reading their own backyard geology. It follows from a series of dud wells last year. Watch your investments evaporate.

One year ago there was an exciting 6 well drilling program ".. . a meaningful step-change in production is expected in 2023 when the horizontal and deep wells are expected to be on production. " .... Didn't really happen.

This year we are on a single well program, Jacobin. It is months behind and no production has lasted more than a few hours. I think our only chance of return on investment may be if the company is sold. Need that Jacobin result to create value for a buyer. (I am fed up averaging down)

Well said Roty

Price shows that someone knows about further bad news coming :-(

Now confirmed

Translated as "we have little idea yet about what we have drilled into ... but we are going to muck around in three zones for a least 6 months. That bit we said about going into production - naah. Shareholders should expect TRIN production to continue to decline for a while yet. Maybe in a few years we will make good on all those rosy promises".

Yes, wouldn't that be a nice change in investor communication strategy!

I listened to the presentation. Impression I got was they recognised that their secrecy was destroying the valuation. On Jacobin they seemed to be downplaying the significance of the deepest zone. That seemed odd as it is a high pressure (ie greatest potential flow rate) zone. There was very little talk about how this ultimately could translate into revenue. Year after year it is the same message that the road to commercial success (shareholder value) is just a few months away. I am not under pressure to sell fast but I do want a return after 7 years of these sorts of events.

Oh well. Price will get hammered today.

It is certainly not looking good. One wonders at how some of the key Investors feel - like the Newlands who own more than 10% and bought most of that when the share price was more than double now. They got well shafted at the last funding/dilution event a few years back. It is just maddening that TRIN are keeping us in the dark.

The weeks drag on and nothing. Did theu drill a tiny pocket of excitement or a large gusher. The market clearly guesses it is the former.