Maybe a tip or just some coverage, we certainly don’t have any indication that “the big news” (which will hopefully get me out of here without taking a loss) is anything like imminent.
There’s irony for you - the first three letters of “imminent”.
My recollection from the election campaign was that the opposition were making friendlier noises on tax than the incumbents. The failure to extend SPT reform to offshore was undoubtedly a huge disappointment for TRIN. Until SPT reform is extended to offshore TRIN’s big growth projects may remain nearer the starting line than the finishing line. In the meantime TRIN will remain a solid, but not massively geared, play on the oil price. Any hint of extending SPT reform to offshore though and we’re off to the races, so if anyone picks anything up on that front, please share it on here.
Finally.
Seems better than you would have thought from recent price action.
Starchild
“Persons who had NO shares contributed to the problem by bombarding negativity 24x7 on BBs. Current and potential investors do read BBs because small AIM companies have little mainstream media coverage. BBs are goldfish bowls of market sentiment. A few posters who had NO shares and for unknown reasons allegedly DESPISE BPC posted negativity 7 days a week. This certainly contributed to the SP not exceeding 0.8p. Had it done so, Bizzell would have been more inclined to continue funding at the 0.8p level.”
You are saying that those of us whose take on BPC’s financial position was more accurate than the scenarios that you, Tiburn etc. were painting (of us all, it turns out that Bohemia was closest to the mark) are to blame because we did not leave your scenarios unquestioned.
First of all, that really exaggerates the power and significance of BBs and underestimates the role of the market. The market clearly had its own take on BPC in the wake of Perseverance and once the existence, though not the full extent, of the funding issues became apparent (some time ago now), 0.8p+ was arguably always out of the question.
Secondly though, it is just a really strange argument to run. If we had been wrong and you had been right and our posts had actually had the kind of traction that you imagine they did, you might have a point. But you are left saying, in effect, that BPC’s last best hope lay in allowing an inaccurate narrative to flourish unchallenged.
Anyway, it will take time for the dust to settle here and I don’t feel that BPC will present any kind of opportunity until it does, so you will not be seeing me here again until June at the earliest.
Interesting two part oil price article (bit of a BUY GOLD subtext though):
https://www.goldmoney.com/research/goldmoney-insights/the-coming-oil-shortage-part-i
https://www.goldmoney.com/research/goldmoney-insights/the-coming-oil-shortage-part-ii
Interesting two part oil price article (bit of a BUY GOLD subtext though):
https://www.goldmoney.com/research/goldmoney-insights/the-coming-oil-shortage-part-i
https://www.goldmoney.com/research/goldmoney-insights/the-coming-oil-shortage-part-ii
Starchild
“I hope those that bombarded negativity which became a self-fulfilling prophecy are happy with themselves for hurting LTHs so much, especially ex-LGO/CERP holders who have been affected worse of all in the last 5 years by dilution.”
Are you seriously suggesting that sceptical BB posters are to blame?
Starchild
You should definitely have done a deep dive, or been less selective, when you compared TRIN to BPC.
“I have not analysed TRIN’s accounts in depth so do not know its tax position”. Forget about BPC sitting on an $85m T+T tax offset for the future. TRIN is sitting on one of $226.3m (as per the 2020 interims).
“And there’s one potential huge asset BPC has that TRIN does not: monetization of its Bahamas licenses. The market currently values this and Uruguay as zero.” I suspect the market may have its reasons for doing that. But Starchild, you missed out completely what TRIN has in the pipeline offshore. For example, just Google “Trinity” and “TGAL” or “Galeota” (or, these days, “Trinity” and “Echo”). What Trinity has offshore are proven assets and what it is working towards is their development. Not exploration, not appraisal. Development. No wishful thinking required.
And if you do want something more speculative than that, just Google “Trinity” and “Cairn Energy” and “Jubilee”.
willec
So Saffron is now producing more than its initial 25-50bopd? Can you provide a link to confirm that?
NellyB
You’re not far off the mark there.
willec
25-50 bopd initially, presumably less now, if anything. Are you serious?
willec?
(this offer expires at 4:30pm today)
(I’m happy to treat an S2 spud on or before 20th May as being mid May)