Member Info for SimonT

Not watched it yet, but here is the link.

https://youtu.be/_uRYPq8gncM?si=zoDXxUXNFsRM4Cmc

The biggest feature of getting the Central Block facility for me is the access to the LNG market at much better rates than we currently recieve for Ortoire gas from the NGC. I believe the current supply contract for Ortoire gas is a 5 year term? which was signed in December 2020. Will TXP have the option of not renewing that contract and sending the Ortoire gas though CB to the LNG terminal for a massive increase in earnings?

Hi Photo, If this reaches your dream target i will fly down to SA for that dance!

Things looking a lot brighter today, now we know why PB focused on LNG prices so much, it was so people understood the significance and potential of this aquasition!

The 8082 trade at 29.695p was a buy, i had a little top up. Happy to get such a low price, not happy that they misrepresent buys to detere investors.

Paul did say in his interview yesterday that flowing into the processing system has a resistance of 700lb's i presume he meens 700 Psi? The first wells initial flow rates were done to atmosphere with no resistance. The new wells flow rates were done into the system against this resistance so should show far less decline as the initial flow rates would have been much higher had they been vented to atmosphere in a flare stack. So some of the 1ST1 "decline" is because of the nature of how it was tested. Had these new wells been tested to atmosphere we would have the same scenario of high test figures and lower production which would result in lots of teddies being thrown out of lots of prams.

Johno the weeks volume was even higher than your 14.1 estimate as the delayed 625k was not added to any of the daily totals, it must be much closer to 15m?

Well Photo is definitely not here in Rural Northamptonshire!! I think we have had rain every day since February!!

They had 6,890,008 we have just a large trade ending in 08 so maybe that was the last of them?

If the seller is North then the best money the management could spend right now would be to buy them out! £1.8m would do it. I bet they spent that much on destroying the SP with the failed Trin debarkle!

Yes thanks Photo, are you still going back and forth? I will be glad when this comes good and we can retire fully!

Another point about the new well tests, testing into or flowing into a pressurised processing facility will never show the same flow rates that could be achieved when flowed to atmosphere in a flare stack so some of the difference between flow stack tests and production flow is just the physics rather than it all being put down to decline. Testing into the facility is the way.

First gas commencing prior to the end of Oct in no way implies we will recieve an RNS tomorrow about it. We all know full well that they have previously said both the new wells flow rates will be tested in the system All they are saying is they expect this process to start prior to the end of Oct. We will get to hear about it when they have optimised the flow at production levels rather than giving us an inflated figure from the well blowing off when first opened up.

Aligator, 1.05% is 2.480,300 not 248,000! That would explain why we have not moved in a while!

25 September 2024

Withdrawal of the Touchstone Scheme and lapsing of the Touchstone Offer

On 18 September 2024, Trinity announced that it was seeking the permission of the Court to formally withdraw the scheme of arrangement relating to the Touchstone Offer (the "Touchstone Scheme") (the "Withdrawal"), and that a Court hearing had been scheduled for 25 September 2024 (the "Withdrawal Hearing").

On 19 September 2024, Touchstone confirmed that it does not intend to exercise its right to implement the Touchstone Offer by way of a Takeover Offer as an alternative to a scheme of arrangement, and that it had requested and been granted the Takeover Panel's consent for the Touchstone Offer to lapse upon the Withdrawal taking effect.

Trinity today announces that, as requested, the Court has dismissed Trinity's application for sanction of the Touchstone Scheme, with the result that the Withdrawal is effective immediately and, consequently, the Touchstone Offer has now lapsed.

The Trinity Directors note that, following the Withdrawal and the lapsing of the Touchstone Offer, the irrevocable undertakings to accept the Touchstone Offer entered into by certain Trinity Shareholders and Trinity Directors are no longer binding and, therefore, such Shareholders and Directors will be able to exercise freely their votes at the Court Meeting and General Meeting to be convened in connection with the Lease Operators Acquisition.

-----------------------------------

So we should see the SP recover as there will no longer be a dilution from increased shares in issue

So it went down on the LoL offer, people said it was because of the fear that TXP might increase their offer. Well they confirmed they would not be increasing their offer and it goes down again!

Any idea's?

Found it here;

https://www.londonstockexchange.com/news-article/market-news/offer-for-trinity-exploration-production-plc/16599415

The Trinity Directors have withdrawn their recommendation of the Touchstone Offer with immediate effect and intend to postpone indefinitely the Court sanction hearing in respect of the Touchstone Offer which has been rescheduled to 23 August 2024.

Agree Sturm. If we do end up "merging" with Trin i think their board members have just sealed their own fate and will be disposed of asap!

We went down on the news of buying Trin due to the dilution and now we are going down because we might not be buying Trin! All PB has to do is get Txp SP above 45.36p and the present deal of 1.5x shares for Trin holders would be worth more than the possible 68.05p offer Lease Operators Limited (LoL) might make. 16th August deadline for that offer now in place.

Thanks for the confirmation SM, I had a feeling that all the 32.45's were buys today!

Yesterday trading showed only 40,000 buys according to the trades shown in blue but already today we have 2x RNS stating purchases of 93,000. Proof of what we all know happens of buys being put through below mid and misrepresented as sells. Blatant manipulation to facilitate the institutions.

I followed Beryl quite closely, it passed by with minimal impact, just a bit rougher sea and moderate winds in the north, nothing worse than your average UK storm.