Member Info for workover

At end of Q1 we had a Cash balance of US$12.3 million! This was US$ 2.1 million more than the end of year balance which was US$10.2 million on 31 December 2018. Based on the above and the fact that we had no drilling activity in Q2 I’d expect that balance to have increased to nearly US$ 15 million due to the higher Q2 oil price...

Let’s not forget that we had an outstanding receivable of US$2.6 million due from Petrotrin/ Heritage! This was expected to be received by the end of H1 2019 ! If we also received this late June , then cash balance should be around US$ 17.5 million!

That was what drove me to add twice over the past two weeks!

Cheers Maladoni hopefully Trin goes well for all of us! Q2 update next week so we should have a clearer picture regarding future plans

Good luck all

JFK9

Brave or possibly foolish .... time will tell...

Although I’m frustrated and don’t like the way the company has gone silent ... I think the SP shouldn’t go below 10 by much ... what do I know? I thought they were good value at 15p, 13p, 11p, and 10.25p ...

I just hope there aren’t any further delays to drilling !

Bought over 20,000 shares recently ! Remember when the deal was announced Mr Story said he expects it to double value ! At the time the company was trading at around 87-89p! My target is 160-180 in 2020! I think that’s achievable!

Seems that this is becoming more illiquid by the day! Nobody seems to want to purchase! My small top up purchase was the only BUY trade today and accounted for more than 60% of the total traded volume! Bruce et al need to get a finger out and start this long awaited drilling programme to entice some new buyers !

My final top up here ! I’ve added 97086 shares to my current holding! Won’t be buying (or selling) anything else until I here something from the company! With recent purchases I’ve taken my average to a more acceptable level but did something I usually never do (average down)!!! Time will tell if it’s a good move! Good luck all holders

Most of the volume is still coming from relatively large sells! 1 x 110k and another 130k (from memory)! Someone crystallising a massive loss! Sells going through just above 10p!

Even Malcy (triple chin) woods has given up ramping this poodle! Or may be they stopped paying him and offering him free hols!

Agree flabby

Unless you were given shares in the 2016-17 shares issues! You’re most likely underwater (with the shares being sat at 2 year lows) !

I’m not here for a quick hit, I’m here for the growth ! What frustrates me is lack of activity in operational aspects !

I may add more and then decide what happens here

Or may be genuine holders have become bored with TRIN and decided to invest their money elsewhere? I don’t blame them! It’s difficult when companies are multi bagging (UOG, BIDS, BLOE,RRE, RBD, LEK, etc etc etc) all over the place and this has languished without even a word from management!

Even lagged Trinidadian peer TXP

I think long term you have made the right move... this is a safer option than IOG! No legal disputes re any assets ... no farmouts needed and no plan to raise any funds by share placement! Lack of activity by management has caused a lot of people to sell... very frustrating situation... like someone else said it could present a decent Top-up opportunity

Can someone clarify if this is the case ? I read some of the messages below and someone mentioned that they are moving into renewables! I’m not currently invested and looking to do some research ... there are no recent company presentations on the website so I’m working with annual reports ...

Watching 100k and 50k block sales continuously coming through leads me to think that someone wants out & quickly (even at 10.875p)!!!

Pipedragger

TRIN were probably too embarrassed to turn up given the lack of operational progress! They have effectively gone into hibernation for the first half of the year while pocketing handsome 6 figure salaries (nice work if you can get it)! What were they going to tell investors ! Without getting their fingers out and actually doing some drilling, investor events are pointless!

Genel should consider doing the same IMO!

Rising due to announced share buyback! GKP should consider same!

I’ll also be fully reinvesting my £3,400 SIA dividend! This is one of the most underrated oilies ! People want to chase crud like UKOG and RRL! This is a profitable dividend paying undervalued producer!

GLA

That’s the point hopeingmore! They weren’t getting anything ! The government was keeping everything ! That wasn’t unique to Merlon! Even BP and ENI has problems in Egypt! Things were very bleak! That has obviously improved in recent years with IMF loans and floating the currency

Hopeing more

Egyptian receivables was killing ! Producing 7500 BOPD in Egypt does not mean 7500 BOPD worth of revenues! The situation has improved now...

Anything is better than iii! They are a bunch of angry rude vitriol glassweegen cants ! I left them and have never looked back !

Maestro

Hate to break it to you but you can’t drill “without a top drive”! Top drive is what turns the drill string and drill bit to the right ! Before top drives there was something called a Kelly that did a similar job! That’s old tech with a huge list of disadvantages! This is how I used to pay my mortgage ;)