Hello, Share Turners. As the Iranian question continues to dominate world news, the possibility of tougher US sanctions keeps the price of Brent crude spiralling upwards. Which is keeping the Footsie and the Dow buoyant, too. Good for share shifters like us, but sadly, bad for world peace.
Hello Share Bashers. I’ve been banging on about how the gushing price of oil should make us think again about investing in oilers. The cost of Brent Crude is up again as I write. Of course, the likes of Shell (RDSA) and BP (BP.) immediately spring to mind. But the smaller producers will benefit, too. Especially as many of them have still to recover from a pounding from the oil price tanking.
It is of course Bastille Day and that, of course, prompts a few jokes at the expense of the Froggies. I then move into Gulf Keystone (GKP) and a spot of moron baiting and working out moron investing game theory. I then move to a detailed look at Digital Globe (DGS) before covering en passant XCite (XEL), LGO Energy (LGO), Trinity (TRIN), Circle Oil (COP), Premier Oil (PMO), IGAS (IGAS) and Nostra Terra (NTOG). I also comment on Glenwick (GWIK), 88 Energy (88E), Strat Aero (AERO) and Inspirit Energy (INSP)
For months and months Trinity Exploration (TRIN) has been in default on loans taken out with Citibank. Investors who declined to sell the worthless shares seemed to believe the truism that "If you owe the bank $1 you are in trouble, if you owe $1 million the bank is in trouble" as Citibank - which was actually owed $13 million declined to pull the plug. Until today. Instead of the normal weekly rollover announcement we are told:
It is in default on its loans but the banks keep putting off the day they pull the plug. Today the company admitted that its attempts to sell its assets had not yet secured any firm offers. Well knock me down with a feather boa sailor, quell fecking surprise. But now it gets worse. Top analyst Zac Phillips, a man who was once seen as the Geoffrey Howe of hydrocarbon analysis but who is rapidly become an attack shark, flags up a massive black hole of a tax liability for Trinity Exploration (TRIN). Writing in the SP Angel morning note today Jaws warns:
And so today, Circle Oil (COP) has admitted what anyone with half a brain cell could have figured, that it is officially toast. The question is which of the drowning in debt oil mid caps or large E&Ps will be next to fess up? There is an RNS from Gulf Keystone (GKP) today saying its bondhoders have given it another 11 days but could it be overtaken by XCite (XEL), whose shares are sliding as the clock ticks? Other oilcos in breach of loans include Trinity Exploration (TRIN) and LGO Energy (LGO) while the yield on IGAS debt suggests it is in the merde. So who will be next to admit it's toast, to use either the word "administration" or the phrase "little or no value for shareholders". Voting deadline is midnight tonight.
The link is in the side bar but Ryanair (RYA) Euro loon Michael O'Leary is today hoisted on his own £315 million EU petard. Fecking excellent news. Elsewhere I look at the piece of Turkish that is Golden Saint Resources (GSR) - still pissing away £3k a month on PR genius Steffi - as it heads for insolvency again. Then it is onto Nighthawk (HAWK) and Trinity Exploration (TRIN) and the problems for banks that lend to oil companies. Then I refer to HSS Hire (HSS) and cover Andalas (ADL) again as its shares sink like a stone. They have a lot further to sink, sell now!
A wide ranging podcast starts with comments on Eden Research, Ken Brooks and the abject failure of the FSA/FCA to protect investors. Then it is onto three shite companies starting with the letter M : Magnolia Petroleum (MAGP), Motive TV (MTV) and Mosman (MSMN). I look at Circle Oil (COP), Trinity (TRIN) and Tethys (TPL) as well as Servision (SEV) where my target price remains 0p. Then a brief stockmarket lesson for the Sith Lord on what a dead cat bounce actually means and a look at Aureus Mining (AUE).
Featuring shares in Aeorema Communications (AEO), Alexander Mining (AXM), Central Rand Gold (CRND), Mosman Oil & Gas (MSMN) and Trinity Exploration (TRIN) with share price targets for all five stocks.
Featuring shares of Forbidden Technologies (FBT), Pantheon Resources (PANR), Red Rock Resources (RRR), Sirius Petroleum (SRSP), Trinity Exploration (TRIN), together with some share prices.
I am in a rush, as I explain in this podcast. But I am also in a good mood. I may well have a celebratory ouzo for lunch as I think of the Council House morons who bought shares in Globo (GBO) last week just because I was a bear. Enjoy poverty peasants. So I cover Globo, Sareum (SAR), Trinity Exploration (TRIN), Lombard Risk Management (LRM), Eden Research (EDEN), CEB Resources (CEB) and Scancell (SCLP)
Featuring shares in Auhua Clean Energy (ACE), African Potash (AFPO), CEB Resources (CEB), Falcon Oil & Gas (FOG), Trinity Exploration (TRIN), UK Oil & Gas (UKOG), together with some share price targets.
Featuring shares of African Potash (AFPO), Audioboom (BOOM), Sefton Resources (SER), Trinity Exploration (TRIN), UK Oil & Gas (UKOG), XTR Resources (XTR), together with some share price targets.
Featuring shares of Gulf Keystone (GKP), Kibo Mining (KIBO), Pathfinder Minerals (PFP), Range Resources (RRL), Reach4Entertainment (R4E), Trinity Exploration (TRIN), together with some share price targets.