Member Info for PipeDragger

Yes it was a nice chit chat but nothing specific. If they have need it has to go on an RNS.

An update on the status of the drug test would help. Have they or will they apply for a new trial or is it a more fundamental change needed. It is 4-1/2 months since they announced "temporarily interrupting patient accrual".

for all the grumbles about the unfairness of life.

Looks quite good, still not in profit but going in the right direction. The hope must be that the new drilling brings in enough cash to meet the deferred debt - payments start in 2020.

Life goes on. I am hoping this week we will see the confirmation of the CLN redemption. DEBT FREE - surely that is a positive. Then next month we expect detail on the NEW DRILLING PROGRAMME. All the while production is improving. I hope share will be on the other side of 20 from next month onwards. Compared with the neighbours, wow TRIN, is in better financial shape (if you didn't get the allocation you want just buy - I did)

Ural oil and gas deal seems to have made all the difference. 😀

That is a great performance by any measure. Lets see what the results say next week. There is a big chunk of deferred debt that has to be planned in. If they have a major oil find then it changes everything but they are doing ok as it is.

AD, well to be more accurate the GL has a heading thruster but no main propulsion. I should know - I was there through the whole installation. I used to watch the HUR drilling rig in the distance and got curious so that is how I first got into the share a few years ago! It is all coming good now. I know the actually people doing the work and I have plenty of confidence it will be done right.

I have held over a year. An offer at zero discount would be a dream. I will certainly be in the queue for a top up no matter what.

Glen Lyon was towed!

That is the most interesting price for now. How much of a discount. Hurricane a year ago went at 50%. Most I have experienced have been around 20 to 25%

It takes as long as it takes. This isn't about a whim or "once round the lighthouse - it is about satisfying the certification society, probably DNV. It can take weeks. It isn't just about floating. This is an offshore production facility that might be offshore for 10 years - not a ship that goes into dock every couple of years!

TechnipFMC are doing the hookup. Compared to the staggering complex Glen Lyon FPSO installation they did for BP just a few km away, the Hurricane FPSO operation is easy. Looking forward to first oil news next year. :-)

Yes all agreed, their turnover from operations this year is likely to exceed market capitalization. The operating costs of that production are less than half. DEBT FREE. Growing year on year production. In the next 18 months: 10 new wells, all funded. Past is past, TRIN directors also need their shares to increase in value. The TRIN corporate presentation on 22nd June made a compelling case - it came with the fundraise but doesn't seem to be on their main website. I am sure it will be repeated in Sept.

Production is around 2700 bopd. Very few companies are in that position. The market will eventually notice. Nice to see a little recovery going on. I think the real rerate will come after the formal confirmation of the CLNs paid off and then the Sept presentation on the future. Now is the time to get in.

Usually that would be a buy. Shame about the sentiment from the fund raise. Time to look to the future.

Good to see some recovery. Long term this will fly.

Lets see how TXP they are doing with their deferred debt pile. Next ops update should give us all a good idea of where it is going. Having bought earlier in year I am certainly more than happy with SP progress in last few weeks. :-)

We haven't seen the operational update yet.

seems like it has moved to the other T company for a little while. I think it will come back. To be fair they are both good cases. At least TRIN has or will have a clean sheet to go forward.