Member Info for rossannan

With these nil cost share options being deployed to conserve cash, it will be interesting to see how well cash actually was conserved between the end of Q1 and Q2. No major CAPEX that we have been told about, so is there still at least $4.1million in the bank account?

TCGLOVER

Time will tell!

telephoneman

I think that sums up where we skeptics are coming from - we look at the Mousetrap and we see a DeLorean.

crl123

I hear you. Around half of my current holding is what I went into the suspension with at a 2.9p average and what I bought immediately trading resumed at just under 7p. I remember what it felt like when it was suspended and the relief when that RNS appeared and I realised that the BoD had gone into bat for us (and that I would live to fight another day). I have spent the last few days processing this latest news and have decided to undilute myself (or near enough) by buying an extra 25% in the market and via the offer. Which meant selling some other stuff, but that will teach me to keep more cash to hand for such eventualities. This has not been the BoD’s finest hour - they need to work on their timing and maybe a few other things as well - but they are still the same BoD who brought TRIN back from the dead.

Jonny2by4

What is happening?

TCGLOVER

Unlikely.

But presumably some HSR readers are newbies...

Another game of spike a newbie begins...

Rinse and repeat.

And there it goes...

I think I’ll keep my powder dry.

offerman

Up or down (though down seems unlikely), take it with a pinch of salt - it’s really just a marketing exercise.

LLL

How is it not win/win? CERP don’t have to pay up front for the other 50%, the location sits well with CERP’s coming focus on the SWP and, although Icacos isn’t producing anything significant at the moment, it is a quite substantial acreage. Seems quite an elegant move to me. Small, but perfectly formed.

Rugby2015

It will though tell an important story. If the money wheel is not doing its job, LK’s initial foray into the SWP will be more constrained (in the absence of a fundraise or farm in) than it would have been otherwise.

Gibbo1066

CF+ in December - yes - but CF+ since December? At times, no doubt, but overall? A significant indicator will be the bank account, which stood at $4.1million at the end of Q1. We will know shortly where it stands at the end of Q2.

Hmmm...

Looks like they are using Chase - the percentage seems right.

looking cheery...

I have spent a not insignificant part of the morning processing all this and find myself now taking a more pragmatic approach. I am no longer even going to vote against, albeit that some things still niggle. I need to grit my teeth and focus on the fact that at 16p the now largely de-risked TRIN is still a surprisingly attractive proposition when you consider the still substantial upside potential.

Esmerelda25

Fair comment. I will be voting against and would encourage anyone else who is unhappy to vote against. It will still pass, of course, but why not take this opportunity to lay down a worthwhile marker with the BoD?

offerman

It could be via a spread bet - that’s how I’ve shorted LGO/CERP in the past - but it is possible to do it properly if your broker will play ball (mine wouldn’t - I suspect that was because I’m a LNWI).

countdemonet

Don’t see why they should.

LTID

In the meantime the MEEI May Bulletin may drop:

http://www.energy.gov.tt

and provide a substantial clue on the production front for anyone trying to trade the news. Still more interested in the end Q2 bank balance though.