Firering Strategic Minerals: From explorer to producer. Watch the video here.
Shanta baby!
in4cedros
For the last time: I kept posting that I expected Koot to do (and indeed thought he should do) a placing at those higher levels because he so clearly had CERP on a trajectory that would (as I illustrated at the time using CERP’s own figures to reveal the cash burn) end up with it running on empty.
And that was exactly what happened, with CERP accumulating the Lind debt instead, leaving it in the vulnerable state that eventually saw it pitched into the merger with BPC.
The legacy of Leo Koot’s questionable financial management wasn’t just the shareholder value destruction ultimately inflicted by Perseverance. There was plenty of pain along the way - remember that the Lind debt became the Trafalgar debt in the merger and then became the Trafalgar shares. It was the hasty dumping of those shares that battered the BPC share price last summer.
As for asking folk to sponsor me not to post to raise money for charity - how does that demonstrate that my posts had any traction on the share price? All it demonstrated was that a few folk were happy to give money to a good cause to stop me posting.
in4cedros
Why would I want a lower SP, or even imagine that my posts could have that kind of traction in the first place?
in4cedros
Well, as I said, the share price was just under 5p when I stopped posting. So what is your point?
in4cedros
Given that I stopped posting completely when CERP’s share price was just under 5p, how could anyone who sold up on the back of my posts about cash burn actually have lost out? The CERP share price subsequently slid and never even made it back above the 2s.
And why are you still refusing to say whether you had shares in CERP at the time of Saffron 1 and whether you have shares in BPC now? You don’t have to be a shareholder to post about a company, not in my book anyway, but posters are usually happy to say one way or the other.
deltalo
My point, of course, was really aimed at the “new onlookers” - BB posters do not offer refunds so they should be taken with a large pinch of salt.
Seriously though, on what basis can you talk about “almost guaranteed high revenue returns” and this being a “massive winner”?
deltalo
“I really think that new onlookers don't realise the oil has already been discovered and almost guaranteed high revenue returns.
We're on to a massive winner here...”
In the event that your above confidence is misplaced, will you be covering the losses of any “new onlookers” who buy in on the back of it?
PageofCups
How much of that was “fluid” and much of that was oil?
Still waiting for the dust to settle here - which means consolidation and all new shares admitted to trading.
It is hard to get that excited about S2 though. What is the S2 CoS? Is it as high as some on here seem to think? We have been told that
“Design of the Saffron-2 well includes a production completion, allowing for immediate oil production and sales on a successful well, with anticipated rates of 200 - 300 bopd, which it is estimated would provide more than US$1.8 million per annum of cashflow to the Company. Based on these pre-drill estimates, Saffron-2 would have a payback of 12-18 months and an ROI of in in excess of 200 per cent.”
Where do these anticipated rates of 200 - 300 bopd come from? Further data from Saffron-1 was certainly promised but it never materialised. Is there good news that they have held back or are they again going all the way back to the 207bopd that UBOT-1 flowed? For how long did that 207bopd flow? 12-18 months? Research this if you dare. Some on here will remember what Goudron’s high initial flow rates translated into over the longer term.
Anyway, to all new holders and potential new holders looking in and wondering whether S2 offers an investment, or at least trading, opportunity. You will see posts on here by Starchild. He routinely offers up his posting profile (https://www.lse.co.uk/profiles/starchild/). Take him up on the offer, take the time to get the gist of his 15 months of BPC posts and compare what he posted against the outcomes that were subsequently RNSed. Then decide whether you want to be guided by his wishful thinking.
SRS69
Yes, that’s right, I am not going to second guess the oil price in the ultra short term (by which I mean the next few weeks), not in market conditions like these. So with WTI currently just above $62 I would probably start nibbling at TRIN in the 13s. I try to avoid cliff edge buying targets though - a decent average buying price is what I want - so I would be open to the possibility of WTI continuing to fall and me completing my buying spree in the 12s, particularly if nothing emerges on licence renewals in the next few days.
SRS69
I think it is a mistake to focus on operating break-evens. All in breakevens are the key. Companies naturally focus on operating break-evens because share promotion is a lot harder when you use all in breakevens! It would not take that much of a slide in the oil price for TRIN to be a significantly less attractive proposition. I am bullish on the oil price but open minded about where it is going in the ultra short term.
SANTIAGO666
Other fish to fry right now but will have another look at this once the dust has settled.
LuckCounts
“no SPT Tax going forward”
Not the case sadly - roughly one third of TRIN’s current production is offshore and the offshore SPT regime remains unreformed. This is particularly frustrating as most of TRIN’s plan for growth is tied to offshore.
Bunky1981
Surprised to see this falling back towards 165p. If it falls below 165p it will definitely be back on my radar.