RE:RE:RE:RE:RE:RE:RE:Art owns 11 million shares. Since you blindfoldedly insist on agreeing with Tyeehunter’s unfounded comments, I have a few suggestions to encourage you to get the facts straight.
Perhaps you should start by sticking to the correct spelling of the gas field development project. The correct spelling of the acronym is SASB, which stands for South Akakoca Sub-Basin rather than for a Swedish airplane and car manufacturer.
You can then follow this up by viewing Arthur Halleran’s latest interview, which appears on the right hand side of this page (
https://stockhouse.com/companies/bullboard?symbol=c.tcf) under VIDEOS. It came out after the latest press release and thus debunks your theory that Arthur was planning to go AWOL for a while.
The other thing you need to accept is that Trillion does not currently require any additional financing ror does it have problems covering its G&A. Trillion’s G&A has been fully covered by the Cendere oil field revenues even before the latest gas wells started production. Remember that in Trillion’s gas play the break-even price is <$2/mcf when no additional drilling expenses are taken into consideration. Even when drilling takes place, the break-even price was in the $11 to $12 range. Considering that the latest price was US$11.65/mcf and that it will most probably continue to go up as it gets colder, it is quite obvious that Trillion will remain profitable.
Contrary to your suspicions, drilling was halted not because of a lack of funding but precisely because of the success of its drilling program. With the first six wells Trillion came up with more gas than anticipated. It chose to halt the drilling in order to recalibrate the wells and prevent the wells from interfering with each other. Pausing the drilling till next year will allow Trillium to fine tune its approach to the next targets, taking advantage of additional 3D seismic reprocessing.
Also, in spite of your suspicions to the contrary, rest assured that Trillion can handle all the gas it envisages to put into production. Right now it can handle up to 35 MMcf/d. The first 3 wells are generating about US$2.3 Million/month (Trillion’s 49% share) and producing about 14 MMcf/d gas. When the other three wells are recalibrated production should double without even getting close to what Trillion can handle. And now that the offshore drilling has temporarily stopped, the costs associated with it are gone. As a result, Trillion can expect a hefty cash call of about US$6.9 Million in the coming days.
And since so far your suspicions have proven to be consistently unfounded, perhaps you should consider reserving your judgement regarding the oil play until we see the drilling results of the first wells. Just some food for thought.