Member Info for PipeDragger

Nicetu, I am long term holder in TRIN. I know all about the grand plans but we really need a good quarterly update. I only invest for value growth or dividend income. TRIN destroyed value by the fund raise last year (price collapsed and one year on we have seen no benefit). TRIN is sitting on cash but no dividend. Production updates this year have been below target. So......... we need some good news at the next quarterly update. A 10% year on year production growth would be a start or maybe some exploration drilling. Jam tomorrow!

Nickel, The answer is hydrocarbons in the ground. They gambled on raising production too quickly and now look foolish with double the processing capacity than they need. The hydrocarbons are still there. IMO.

Sitting on cash, not much drilling, won't pay dividend, slow production growth, unfavorable local tax environment. Gosh they need to find some good news for the next quarterly update! (And I don't mean another thrashing dilution to fund management bonuses or the next grandiose scheme).

and kept on falling....

I wonder where it will bottom this time. Hopefully in the high 30s.

I don't get the logic. It has a large but reducing net debt and has no operating cash issue. They don't need to raise new loans anytime soon. So why would it go bust? Sure they need some serious sorting out!

Berenberg know nothing. I have learned over the years that most public analysts just follow the market sentiment.
Few of them properly analyse the true health or otherwise of the company. In the case of NOG the difficulties were hiding in plain sight in the published accounts and statements. None of the public analysts seemed to notice until the price started to head down. Peel Hunt is another example. I am not saying that NOG is a gem just that the public analysts are no more likely to be right now than they were when they called it at 800 or 400 or 200 or 25.

I have seen it so many times over 4 years

NOG does not need to raise funds providing it can continue production at present rate. It sure could do with new management!

This is the question the management need to answer. They are debt free and sitting on cash - so why is there no dividend? Grandiose development is in planning - will there be another investor thrashing dilution? The only reasons to buy are dividend or value gain - neither are satisfied just now. The other little problem is that they are currently not growing production at 10% year on year as they said they would do.

Do the maths

WIGW, agreed .... all it needs is the right management team and attitude to make it happen.

Twin problem. There is not enough product to fill GTU3 (if they had not built it then they would be in good financial shape). Secondly is the consistent and repeated year on year pork pies about the expected production rate and the status of anything and everything. At least they seem to be okay on cash. Bargain for someone with the vision to turn it around - assuming they know better how to find hydrocarbons!

If they are net cash producing and have no debt then we should be seeing a dividend. A year on from the last thrashing share dilution and no recovery in SP and production not quite on target. Events have proven they could have paid off that debt from cash. Not great result for long suffering holders.

Generally good results but once again unable to meet the self-imposed 10% year on year production growth target. Sitting on cash should be paying a dividend.

Brexit safe as well.

1GW thanks for this. Hopefully that is what they are doing. Lord knows why they didn't organise themselves in time to avoid suspension.

Inexplicable why they couldn't release the results unless they have something horrendous in waiting. Even today they have no prediction of how long they intend to remain suspended. Weeks, months or are they going to wind it all up? Nothing.

Suspension means loss of credit rating. Can be death spiral if suppliers start refusing credit.

So after today they will be outwith AIM reporting rules. Suspension likely. The must have rubbish accountants and auditors - to add to their woes. A shame as they otherwise seem viable once they lose Wipac.