TriOil Resources Ltd TRIAF

New Investor Presentation - Thoughts

[AIGswap]

https://www.trioilresources.com/en/tol-2011-04-27.pdf

Notes:

- Further displays superior IP rates of slick water fracs as compared to the previously used gelled oil completions (3 latest slick water completions producing above type curve, which is huge)
- Well 2-36-26-3W5 just came on production May 1 (TOL 78% WI); Note that if this well performs as the last 3, this could add ~10% to their current production
- Mention of slick water fracs increasing booked reserves at Lochend for the next reserve report

The IR deck is heavily focused on Lochend, with a few slides on Sweeney and Pouce Coupe.  What I found most interesting is that there is essentially no mention of the Tableland asset.  Could they be selling this asset as I have previously speculated?  It would make sense given that I think it is worth at least $30mm and the market is ascribing no value to it.

Some people are concerned about an equity financing due to their $60mm capex guidance for this year (which is high given their market cap is less than twice this figure).  I believe they could finance this years capex with a sale of the Tableland asset, combined with their undrawn credit line ($25mm).

[aagold]

AIGSwap,I wish you were correct about wanting to sell Tableland rather than issuing new shares, but excluding the asset from their presentation would be the *last* thing they'd do under those circumstances.  If they were trying to sell it they'd be talking about how desirable it is rather than ignoring it.  I think it's far more likely that they'll issue a