Member Info for PipeDragger

Can I use my ISA allowance for this year?

well, we can all agree at least on that. Price is a joke at the moment. I just expected more from the plan then the vagueness we got. It didn't even get an RNS. I bought my main holding this time last year so I am hardly impressed with where it has got now. Long term hold. bah humbug.

Dunno, just can't work out why it is all vague. I know they are drilling a few wells in low pressure onshore depleted fields. So that will dribble a few more and should get to 3000 bopd. The TGAL development - how much will that cost, when will it happen and how will it be funded - another dilution? Just a bit vague. Obviously shareholders will be bracing for the FDP on that at end of the year. "financing options being reviewed" is a bit ominous! I am holding in hope of some value increase after a year of holding but I am not putting anything more in if there is another fund raise.

Seems like TRIN is another for the bottom drawer. The recent presentation gave a figure of 10% production growth per year so that will take 10 years to get to the medium term target of 7500. Is 10% growth all they really can do with that new money and supposedly great prospects below ground. It is all a bit underwhelming and non-specific - which probably explains why the market reaction is not great just now. At least TRIN seems to be solvent.

SPT reform - Pigs might fly. (Why would cash strapped Trinidad allow companies to keep more of their profits).

Having now read the presentation I can see why the market reaction is not great. The production march to 3000 bopd has stepped back a bit over last few months. It is a bit vague what the target for the next 12 months is although it will be higher. The medium term of 7500 seems just an ambition - not a plan (please not another fundraise this year). After a year of holding I am close to a loss which is quite poor considering how much healthier TRIN actually is. Such is AIM.

Thanks, that is new in the last few mins :-)

Price sensitive info has to be given to all investors at the same time. It might have been dull last night but I would still like to know that plan.

CRL 3-day roadshow, really? But no info for ordinary PIs?

I, for one, would like to see that Investor Presentation from last night - why is it not available for us?

GG
No-one buys a pipeline blind. It's status would have been known when it was preserved. Wear depends on what it was carrying - gas is quite benign. Once it has been pigged clean and then filled with treated water (biocide and oxygen scavenger) it will last forever. It is of course always reassuring to have that re-confirmed by testing. The main point of the RNS is that we are all going to have to wait a lot longer for the FDP and FID. Maybe by end of this year. But hey this year has been great already

The pipeline has been re-announced many times with little increments. As a pipe dragger it didn't come as a surprise that a preserved pipe was okay.

it isn't that was why I asked. Maybe we will have to wait until they get back to the office in Edinburgh or Trinidad

7Seven that is just a link to the RNS?
Anyone know if the presentation last night will be released for non-attendees to view?

It's taking forever. I was waiting for the rights issue and bracing for a g dilution. Not anytime soon

It is all about the numbers. Next production update should give us a clue one way or other. Hopefully this week we will know. Certainly a sustained 2000 bopd production would help.

Good results today. I Look forward to the investor presentation as well. Management are incentivised to get to 35p (RNS 25th Aug 2017) by 2022 but it can also vest as early as 2020. That doesn't look too hard a target now.

Good article. 2100 on track.

The working capital available is reducing. There is a balance between building revenue from new wells and the cost of those new wells. Wells also need working over to keep them trickling. Most of the areas they are working in are old fields or small pockets not previously tried but they might hit a new gusher. Bottom line is that they are not actually making a profit yet.

Tidd83 They are doing okay. I am happy with progress this year. However, I don't think it is quite fair to say they are throwing off cash. The new drilling isn't cheap. The recent big rise was a bit overdone but now there are only a few trades each day. I totally get the positive long term picture. 2000 bpd by end of year.