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Posted: Thursday Apr 15 3:11:30PM 2004
I got this from another BB, but apparently the company has indicated no NR until Monday as they wait for exchange approval to release. Should be interesting.
Posted: Thursday Apr 15 9:38:32AM 2004
thanks for the update, is it normal for a company to request a halt and then take a week to get an NR out?
Posted: Tuesday Apr 13 5:47:25AM 2004
Any news on Trioil????
Why was trading halted????
Posted: Monday Mar 29 7:18:46PM 2004
Yes - I was able to have a good meeting with Tri-Oil. There does seem to be a lot of sellers out there which makes it a little easier to accumulate a position. Investors should keep in mind that Tri-Oil is still a very small producer which last reported production of 110 boepd. It is my understanding that production has since been increased to about 170 boepd and the company stated that they hope to be at about 200 boepd shortly. Tri-Oil is looking for a 2004 exit rate of somewhere between 300 and 500 boepd.
As of the last report, Tri-Oil had positive working capital of $600,000 ($0.05) per share and no debt. Current cash flow is about $150,000 per month or $1.8 million annualized ($0.15 per share). Keep in mind that this is at current commodity prices. Regardless, the company is trading near 2 times cash flow with no debt and several prospects.
The president does not come from an oil and gas technical background but was very pleasant and forthcoming with information.
Hope this helps.
Posted: Thursday Mar 25 8:30:22PM 2004
Just wondering if QIS had its meeting with Trioil and, if so, what the results were. Any ideas as to why the price dropped so precipitously and why it continues to fall?
Posted: Monday Mar 22 10:21:05AM 2004
Thanks for the comments on Tri Oil. Seems like a large number of warrants coming due - just wondering what possible ramifications this might have on share price (perhaps already factored in?).
The chart technicals look to me like there may still be some bottoming (usually a good time to set up for an entry). Some news on current projects or partnerships would help, I suppose.