Member Info for PipeDragger

Re-listing a company is an expensive task. I am going to wait. Who knows they might have the secret elixir of eternal life ready to launch next year..........

I think they are not completing the buy out so they maintain listing for a future fund raise. Not many shares around so a few trades on low volume can have a big effect. I would be happy to sell at 20 but not at 15 so I will wait.

Massive discount to NAV. But.... the NAV hasn't changed for 4 months. No Covid 19 effect - no I don't believe this. Buy at your peril, be prepared for big shock later.

I think they have to pay market value at the time of exceeding 90% Could be more (or less) than 15.5p. I am sure on that basis we won't see many good news announcements.

I expected one this week. Perhaps, like last one, it will be delayed while they think up a way of trying to make it sound better. Q1 2019 they were on 3020 bopb. They were expecting 3400 bopd this time but I won't be surprised if there is a new reason to not produce.

My holding is just over 16p average so I am going to do nothing (not accept the offer) and see what happens. Maybe the 90% threshold is reached and I get forced at 15.5. Maybe I will get a little more if REDX actually have the elixir of life. I am in no rush.

I sort of agree with Niceto. Not much short time hope here but it must be wiping out the high cost shale production in the USA. Most of the world's glut of oil is from shale and it is funded by debt - the economics defies rational analysis - oil subsidised by Wall Street. Whenever the new post CV-19 normal comes around then without a glut of shale it could be healthy market for the lower cost survivors such as TRIN.

on such small trades the price means nothing. Hopefully all will be revealed soon. It would be great to know something about their current trading position, cash etc

Not a scooby doo of anything. Would be nice to know how much cash they have left etc....

NOG was setup to deliver 100,000 boepd but never got there. Production has never met target. Year on year it has been the same. It is hard to know if they are just poor at drilling or suffering from chronic optimism in depleted field. I wonder if the new target of 20,000 is, for once, the truth and dependable. The only positive for now is that they are not going to burn more CAPEX drilling random holes etc. At least on a cash basis they should be able to service the debt for another couple of years while they do some deals on gas processing ... or get better analysis of their reservoirs and where to drill. I think it is a hold and see what happens in the next year.

The last quarter was 3196 bopd average. Same period one year ago was 3205 bopd average. It is just about how you present the info. The bald number is a basically the same now as then.
The average yearly production from the regular wells is up 5% ..... not the 10% year on year they said they could get from the old fields.
Not a bad company but currently no reason for anyone to get excited. So share price languishes.

Cash should be for a defined purpose or paid as a dividend. TRIN have been mumbling about development but it is blah blah years away. Dividend is not happening. Production has not been growing at the 10% year on year rate they said it would at the last thrashing (and unnecessary) share dilution event.
While on paper it us a value bargain the SP will continue to languish until there is a reason to buy or until the BoD want to retire.
A dividend policy is certainly something that would help ...... but they are deaf to the market.

That is just how it is. Sitting on cash. Slow production growth.

That doesn't make sense as a reason. Why can't they release a note on their production figures and give Heritage info later.

How to drive the company value down. Master class.

No Q4 update? Not a good sign.

Maybe this time TRIN will deliver a sustainable production increase. It would be a pleasant change after a year of modest decline. Same period last year they were on 3205. I think they were expecting to hit 3400 which would be great. Even better if they could deliver that elusive annual production growth.

The latest RNS isn't really news but is emphasising the inherent long term value.

What is the current cash and revenue position at present. Has anyone been able to work it out. I think we are due an update at end of month. Just curious on their cash burn rate and how long they can hold out.

So much is unknown about the cash revenue stream from the recent drug sale or the current drug trial progress or the net cash position. All three could make a sale price anything from 10p to 100p. Just guesswork until some data is released. I think a big fund raise would struggle just now.