Member Info for workover

Thanks Robery Rob As you say lots of info to be researched but so far so good! Thanks for your input

Market sentiment should be at 3 years highs similar to the oil price

Cheers miti So looking at a gearing of somewhere between 20-25% .... not too bad I don’t suppose you have information about the pending warrants and options (volumes and exercise price)

Have been researching this for a while now ! I’ve watched the recent presentation which was truly first class! I particularly like the reference to Caracal Energy which I owned until it got taken over ! The management seem to be of the highest caliber! I do however have some reservations. The cash position is very low for a company this size. The way the deals have been structured is also complicated. Can someone also clarify the debt position? My research is ongoing...

Used to own these in 2016-2017 ! Sold for a small profit. Why are they trading at a lower price now ? The company is in a much stronger position!

Mannnan I think that’s a bit harsh ! It would value the whole thing (including cash) at £7 million

Gooner I’m not Larry’s biggest fan but at least he will feel some accountability for where the share price is (given where it was when he took over)! If a new guy comes in when the SP is at 2.9 and then the share price increase to 6p he’s effectively doubled value (even though all long term holders are in deep ****)! I think Larry should stay and be made to answer for the SP performance. I think it’s not worth it trying to get rid of him at this late stage in the game. Stable door, horse and bolted spring to mind!

I don’t think he should go just yet ! He should try and get us out of the mess he got us into

What’s the link of the video and presentation slides ? Thanks in advanced

Pipe dragger Totally agree with your sentiments. I am hoping that the stated 10% per annum is the minimum we can expect and not their actual top target! I hope it’s a case of under promise and over deliver! If I wanted 10% per annum, I’d invest a stable FTSE100 dividend stock not a mini oiler in Trinidad! I’m looking to double my money minimum ! Like you I’ll revisit later, see what happens and reassess! There isn’t much to discuss at the moment so I’ll be posting less on this BB. Let the first class commentators with 5 years of TRIN experience indulge us with their wisdom and inside knowledge. Hopefully it’s not more tiresome talk of manipulation and they can actually use their platform to enlighten us !

It helps when you are best buds with the chairman ? Ps: I thought Chariot loves fridays ! 20p by Friday Wouldn’t want to be out of this over the weekend yada yada yada

I had 2.5p in mind taking into account the news vacuum and effective hibernation... this share has also been known to trade for sub cash for long periods ... Shell’s well next year will be key ! If it is a discovery, then game on Brazil !!! If it’s a duster, then who knows where the price might settle ....

To be honest, all things aside the fact that we are targeting around 150 million bbls over the next 6 months is exciting ! Even if we hit a 3rd of those targets then 160p will be a distant memory ! I’d really like to start 2019 around 200p. After that, DNO will have to pay a real premium to take us over!

So given what we know now re the cash position and the fact that we probably won’t drill again for another year (2020 most likely), what top up / purchase price would you guys deem good value ??

I noticed that they have omitted the expected well duration from the RNS. This is a standard piece of info that is typically included in every single drilling RNS. Have they given up estimating this based on their abysmal performance on Agar/ plantin?

Cashews I’m in a similar position in that I have also been averaging down but my average is around 5.80! If we hit 4.60 I’ll go for another few thousand. I believe that £6 is achievable in the next few months

Big cashews What’s your break even ?

Very relieved that this gigantic reverse takeover didn’t materialise! It was too big for us! I agree we should aim for both organic and inorganic growth but taking over BP Egypt is probably more than we can chew ! I’m happy with what Paul has been doing ! Other deals more suitable in size will come along in the near future ! Good luck all

I hold shares in SDX also ... smaller investment Than I have here. Quite frankly relieved that it didn’t go through! Biting more than can chew springs to mind! SDX should be looking at small producers producing between 1000-5000 and consolidating those not trying to chew up BP Egypt!

Thanks for posting Seven !

Great news ! I have a feeling they may exceed their end of year exit targets!

The oil is very much there ! They just haven’t been drilling due to their partners reluctance to spend cash! Remember when we had multiple rigs operating in Vietnam and consistent drilling we were producing around 16,000 bbls / day!

They recently had meetings in London with Vietnamese to discuss 2019 CAPEX plans ... hopefully they can agree to spend a little more !