RE:RE:Sadinviolablspirit wrote: Let us at least be honest in that Art did not "Bail on the plan to drill all year and keep adding wells". Art completed phase A of SASB and with the exception of the one additional well to be recompleted he completed what he said he was going to do.
In any operation, once a phase is completed it is time to reevaluated and update the programs. That is exactly what Art is currently doing. When the original phase A of SASB began, TCF did not have the onshore oil well exploration property that they have today. So I think Art is doing the prudent thing by rescheduling the Phase B program of SASB to a later date and concentrate on the oil well property. Rescheduling is not the same as "Bailing".
With Nat gas prices lower I think Art's decision to reschedule phase B of SASB is the smart move for the company in the long term. Why continue drilling at this time at a burn rate of about 6 million per month, when the company can reduce that burn rate to $1.2-1.3 million per month and bank about $1 million profit per month for the oil well exploration instead. When the pressure problem is solved for the other 2-3 wells then the company could be bringing in upwards of about $3 million per month after expenses. $36 million per year to start is not bad for a junior company with larger prospects to come.
The onshore oil well exploration is far cheaper to drill for a far greater reward. It's just going to take time and it probably won't commence until Q2 of 2024. So I can completely understand the drop in the share price and insiders selling shares at the moment. Do I think this still a great company and a good investment? Absolutely!
In fact, Art is making it into an even better company, but you're going to need to have patience and a longer time frame than you originally wanted or thought before you see the share price that you are hoping for. In the meantime, I'm not going to be surprised by a drop in the share price as the drill program for the oil wells is many months away. I will continue to pick up shares here and there.
Only problem is there is NO grantees that Art will find BLACK GOLD....or if he does if the grade is high enough to make it economicaly feasible...the Turkish prime Minister seems to brag a lot on what's really in the ground concerning OIL...time will tell then we have the outstanding shares close to 400 million which obviously dilutes the share price....
At peak roughly 3 million per month PROFIT...with current sea wells divided by 400 million shares = ???
A high quality BLACK GOLD find will certainly put this company in a multi dollar stock price BUT you have to find it first and PROVE the grade value that's a LOT of iffs....
Until if and when the OIL play...plays out with a 10 well program in the next few years I see the stock value slipping down and down like it has for the last YEAR..
Remember GOOD news propels a stock BAD news hammers it down...then there is the issue of getting the sea drilling rig back next year to continue the 17 well program and finally the vluctuating gas prices which has given Art a great headache..
Not much will happen for the next 7 months no drilling...on or off shore...so let's hope 2024 is the BREAK OUT year for Trillion energy...it's certainly NOT 2023...with share prices tumbling DAILY..
Art said 2023 was the year to reward valued share holders the only thing I have been rewarded with is a 6000 dollar loss....this year...ugg
I will revisit this company IF and WHEN Art can prove to us that the company is moving ahead and increasing PROFIT daily...monthly...annually.
Let's see how SCREWED and CUNNING Art can be...I still think he can pull it off due to his 40 plus year experience in OIL and Gas...and 10 oil wells to be drilled in the next few years increases the chances of SUCCESS.
NO one likes seeing share prices decline BUT that is what is currently happening....investors have currently LOST confidence...just NOT enough PROFIT for the amount of shares out there...that is a REALITY CHECK.