Member Info for PipeDragger

I agree, sentiment has returned. The daily volume of trades says a lot.

Nifty,
Yes, true, but that also makes the point that cash flow is tight. Next quarter results should tell us all. It has been a great year already.

On the latest TXP presentation it looks they had 14M cash and loan facility. By covenant there are not allowed to go below 5M. Drilling is costing 5M a quarter so it looks they need another fund raise before end of this year (or just take a drilling pause). The loan has to be paid back from end of next year. Or maybe gamble on a striking a gusher. Anyone else got thoughts on this?

well, it is a sort of progress - 5 months since they announced ""temporarily interrupting patient accrual". Okay so they will have another go sometime next year. The money will have run out by then so they will be back at the well for another bucket of loan or fundraise. This is a share to forget about in the hope it might come back before you retire.

Trades are only handful a day. The spread indicates the MMs are struggling to shift their stock at this price. Need some more news.

I welcome the activity now. Plenty of trades each day. (Trading in the other T share seem to have almost stopped for now, even allowing for labor day yesterday).

Volcano, you spoke to soon again!

Mouldie, IOG need a huge amount of money to make their plans go forward. Sure, they will be able to raise that money. Sometime in September it should be known how that will be done and probably a mix of borrowing and equity issue. There may be a significant dilution of the share price. The hard part is guessing what the price will be in a month's time. Wait and see ...... or buy now. Good luck with guessing.

It is a construction support and dive ship. Twin work ROVs, saturation divers and cranes. It often does ROV only work when diving activity is quiet. You could buy a house with just one day of vessel hire.

I have been in this share for a few years. I know the people who are running the offshore installation and have been on many of the same vessels even through several winter seasons. Anyhow, I have high confidence in the quality of the team and that we will have first oil in time, maybe even early. Be careful what you read on BBs and do your own research. good luck

Do your research chaps. Some posters clearly don't know port from starboard, never mind what a ship does or has fitted. Amusing though.

RNS on drilling out. Hopefully the market will notice

That is still 42% down since Lisa took over in June. They will need more funds next year so they will have to have something more substantive than chit chat to offer.

Why so many posts on this BB on conspiracy theories about MMs. The price of shares are due to market fundamentals and a large chunk of sentiment. TRIN hasn't got sentiment just now, just boring profitability and steady growth. Maybe that will change once Dingwall gives the Sept plan out.

I thought both had good cases so I invested in both. TXP has shot up more than I expected. It is all about sentiment as TRIN has better fundamentals, much better. If TRIN can restore a bit of sentiment ........ maybe.

Bruce Dingwall promised a plan for drilling by then. I think SP will start to improve after that. Sentiment may take some time to recover - there are a lot of investors who have been burned on the way down from 100p. I am sitting on a gain of nil over the last nine months. Can I trust the management to look after shareholders interests. I am holding for now and waiting to see what comes out over the next year.

Debt free, cash producing, funded for increased production. The re-rate should begin in Sept when details of the drilling plan are announced. TRIN uses its own drilling rigs as well. The sentiment will turn again. I don't care about the MMs - that will take care of itself in due course. The BoD are incentivised to take this beyond 35p within 2 years.

9% + LIBOR is pretty good terms for LOG and if they SP shoots to the sky they can win even more. win win for them.

RNS out - CLNs cleared. Cash in the bank. Funded for drilling. High margin production. Whats not to like.

If they have news (autocorrect)