telodije wrote: If you would have taken the trouble of checking to the interview with Arthur Halleran on the right hand side of this page (
https://stockhouse.com/companies/bullboard?symbol=c.tcf) under VIDEOS you would have understood the rationale behind the latest developments.
Drilling was halted precisely because of the successful completion of the first six wells, which discovered more gas than anticipated. The halt will allow Trillium to recalibrate the wells to avid interfering with each other and plan at the same time the next targets with the help of additional 3D seismic reprocessing.
Trillion has had its G&A handed by its oil filed (Cendere) revenue alone, even before the gas wells started generating additional revenue. Without the drilling the break-even price is <$2/mcf. Even when the drilling was taking place, it was in the $11 to $12 range. The latest price has likely bottomed at US$11.65/mcf and will most probably will continue and go up as it gets colder.
Right now with 3 wells producing about 14 MMcf/d gas Trillion is getting for its 49% about US$2.3 Million/month, and as they are getting the other wells back on they should double its production. Trillion still has plenty room to grow its gas production, as it can handle up to 35 MMcf/d. And because the offshore drilling has stopped for now, the costs associated with it are gone, and they expect a cash call of about US$6.9 Million coming in a few days.
If you still have any additional concerns, you can always contact Arthur and you will get an answer from him. Or you can come to the AGM next Wednesday, even though you seem to have given up on the company.