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TPLM looks ready today.. *on Breakout WAtch* Trump Bullish on Oil... Exxon exec in Office ..Inventories out tomorrow
$TPLM *On Breakout Watch*
Future operations
I think the big problem is that it looks like they have no revenue. It also looks like there is no land for development. Without any revenue the tax benefits will not have any taxable income to be of use against.
I can't see any reason why the convertible bonds would not move to take over the company now and recover about one third of what they are owned, instead of watching what asset are left be spent on administration every quarter while the company racks up more interest that will never get paid.
While I may be missing something here, I just can see how the company 'climbs out of hole' of being negative $100+ million, and no revenue.
Louis J. Desy Jr.
Louis,
With all due respect, I disagree. Once the TPLM USA plan is effective, they will get 2.5 Million in settlement for unsecured claims, some intercompany loans that were given to TPLM USA will be renewed if the new restructured TPLM USA board elects to do so. They also have 8.5 Million in senior notes in TUSA which will be turned into equity in the new restructured TPLM USA. Lastly, if the settlement is reached where they can right off their equity in TUSA as worthless stock and tax benefit plan is implemented for TPLM instead of TUSA, TPLM will have another $177 million for future earning offset in taxes. Lastly, the fact that NGP is waiting for cash instead of just selling their stock is pretty big.
Once their balance sheet is improved after getting paid the claim money, tax benefit, equity in new TUSA for their 8.5 mil senior notes, I believe, they will offer debt to equity swap along with re-negotiated senior loans with NGP and partner, and use the payment for future growth and investment.
There is nothing left
TPLM 10Q report for period ending October 31, 2016
The company reported zero revenue for the three months ending 10-31-2016. Stockholders equity is negative $106 million. They report 55 million in assets to pay off $155 million in long term debt and have no revenue to generate a profit with.
Without the gain on sale of $50 million, they would have lost $21 million for the quarter.
The interest on most of the long term debt is a convertible note that is accruing at the rate of 5% per year.
There is no way for the company to even generate enough profit to keep up with the accruing interest.
I expect a Chap 11 filing any day now since everything the company has left will end up with the convertible note holders, with zero left over for unsecured liabilities and nothing left for the common shares.
Louis J. Desy Jr.
Any thoughts on news that just came out?
We are prepared to go down as gentleman!
Believe you are correct
Proposal 4
The Company’s stockholders failed to authorize the Board of Directors to effect a reverse stock split of the issued and outstanding common stock of the Company in a whole-number ratio of at least 1-for-3 and up to 1-for-8, to be determined by the Board of Directors, as set forth below:
FOR
AGAINST (1)
ABSTAIN
32,012,391
31,920,885
588,614
Proposal 5
The Company’s stockholders failed to approve a corresponding amendment to the Company’s Certificate of Incorporation, as amended, to effect the reverse stock split, as set forth below:
FOR
AGAINST (1)
ABSTAIN
32,467,628
31,510,759
543,503
200dma on daily sits at .356
200 DMA on the weekly chart is 5.146
Chapter 11 then chapter 9
when in doubt get out and buy PPL pembina oil
Sleeping Giant
Well that was a highly intelligent and informative post. Keep them coming.
1000% agree!!
Stock manipulation. The man needs jail time.
You can count on this drop when clay brings his shorts around, unfortunately my buy order didn't get filled yesterday.
Bought $150K today. Thanks shorty scum!!!!!
Buy order in for more at .28 going back to sleep, see if it gets filled later
Wonder why this is down, might me be a good buying opportunity down here.
* * $TPLM Video Chart 12-12-16 * *
Link to Video - click here to watch the technical chart video
Analysts' 1 yr price target for TPLM is $1. Volume up today 800% on average daily vol.
(6 hrs ago)
http://www.newsismoney.com/2016/12/12/analysts-recommendations-stocks-to-track-triangle-petroleum-corporation-nysemkttplm-netapp-inc-nasdaqntap/
Looks like shorting scum brought it down to cover. I grabbed some .30's.
Hanging on until I get closer to where I bought in too soon, been an interesting past week.
Where is everyone on this move?
I my bid in for .26.. it will be filled next week.
Yeah I seen that. Today should interesting
someone selling for .28 this morning.
Technically it should be holding better than 25 this time. The reason I say that is because they just submitted their restructuring plan for TUSA on Nov 15th, so that should be getting done as well; something has to come out of it. Aside from that, the board meeting is coming that have some affect on it. Lastly, if he prices move up to $60 or even $55. It might change the scenario. Well, the bottom was reached twice and CCI was -225. So, everything worked out for the time being...
whats up with this stock bitches, should buy?
* * $TPLM Video Chart 12-01-16 * *
Link to Video - click here to watch the technical chart video
I hold large cap, mid-cap, and small-cap companies in the oil sector, along with UWTI.
I'm swinging TPLM for the next week or so.
Got in at avg of .35
Good luck everyone here.
Here comes the .35 range. I wondered if that would hold. I understand it went up high these past two days but tplm has never held gains long
OPEC made deal yesterday that's why oil is at 52! Whole sector exploding. Boats were being loaded yesterday and this AM! Oil headed to 60!
Do you have a link to that up trend? On my way to the dentist in five minutes and would rather stay home and watch this
Tia
Thanks ven.
I'm not seeing much of a pullback however. There may not be much of one today with the OPEC deal. The volume is too good at the moment.
Looks like new interest/investors coming in and if this continues to have volume, pulling back to .356 may not happen today.
anyway, thanks again for the chart and help.
This is my last free post so I won't be able to post nor reply any more today.
If I find I'm posting more at IHUB, I'll spring for a sub....lol
http://stockcharts.com/c-sc/sc?s=TPLM&p=D&b=5&g=0&i=t15353759428&r=1480610975135
I would think the 200dma at .356. this can move very volatile in both directions so watch it closely
Nice move! One of the oil plays added on OPEC deal
Out a few months ago with a small loss.
I trying to find an entry price to spend $370.
I keep thinking it's gonna pull back to between .36-37 but I don't know. Any thoughts would be appreciated.
Are you still in or did you get out?
It's looking positive for you.
"OPEC Cut Could Give Lifeline to U.S. Shale Producers
Wall Street Journal? - 17 hours ago
Struggling U.S. shale producers got a lifeline Wednesday when ... million barrels a day out of the market could help oil prices ... It's a good bet that American shale producers will react to OPEC's agreement ...
I wish I hadn't have sold for a slight loss a few months ago. If I had the funds, I will buy back in but I don't so I can't and it's alright.
A huge congratulations for you guys and gals
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Website: http://www.trianglepetroleum.com/
Board of Directors
Triangle's strategy is dually focused on the acquisition and development of acreage in the North Dakota Bakken Shale oil play and the development and exploitation of its existing asset base in the Maritimes Basin of Nova Scotia, where it currently holds an 87% interest in approximately 474,000 gross acres. In North Dakota, the company is actively seeking to build on its current 75,000 net acreage position by acquiring additional leasehold interests throughout the Williston Basin. Technology advancements in drilling and completion techniques have unlocked the significant resource potential of the Bakken Shale, expanded the scope of the play, and increased the potential reserve additions and production profile of successful wells. Management is focused on capturing this resource for the benefit of Triangle shareholders at an attractive cost.
In Nova Scotia, Triangle has revitalized its exploration efforts and is taking a basin-wide approach to high grading its opportunity set. The objective is to identify the most attractive and lowest-risk targets for future exploration drilling. The success of Corridor and Apache Canada in New Brunswick, a structurally similar basin to Nova Scotia, as well as close proximity to take-away capacity and the attractively priced gas markets of the North Eastern United States, means Triangle shareholders have exposure to significant resource upside at a relatively low-cost. Management is currently evaluating several strategic options in the basin.
CHIEF EXECUTIVE OFFICER
Peter Hill has been Director and Chief Executive Officer of Triangle since December 2009. Dr. Hill has over 39 years of experience in the international oil and gas industry, having begun his career in 1972 with British Petroleum. He spent 22 years in senior positions at British Petroleum including as Chief Geologist, Chief of Staff for BP Exploration, President of BP Venezuela and Regional Director for Central and South America. Dr. Hill then worked as Vice President - Exploration at Ranger Oil Ltd. in England (1994‐1995), Managing Director - Exploration and Production at Deminex GMBH Oil in Germany (1995‐1997), Technical Director / Chief Operating Officer - Hardy Oil and Gas plc (1998‐2000), President and Chief Executive Officer - Harvest Natural Resources Inc. (2000‐2005), Director / Chairman - Austral Pacific Energy Ltd. (2006‐2008), as an independent advisor to Palo Alto Investors, LLC, a hedge fund founded in 1989 (2008‐2009) and as Non‐Executive Chairman - Toreador Resources Corporation (2009 to July 2011). Dr. Hill has a BSc with Honors in Geology as well as a PhD.
PRESIDENT & CHIEF FINANCIAL OFFICER
Jonathan Samuels has been Director and Chief Financial Officer of Triangle since December 2009. Mr. Samuels became President of Triangle in July of 2011. Prior to joining Triangle, Mr. Samuels was an investment professional at Palo Alto Investors, LLC. At the California‐based hedge fund, Mr. Samuels was responsible for research and investment sourcing in the energy sector. Mr. Samuels received his BA from the University of California and an MBA at the Wharton School of The University of Pennsylvania. He is a CFA Charterholder.
SENIOR VICE PRESIDENT, GENERAL COUNSEL & CORPORATE SECRETARY
Jeremy Wagers joined Triangle as General Counsel in June 2011. Before joining Triangle, Jeremy worked for over four years as an associate at Skadden, Arps, Slate, Meagher & Flom LLP as a Corporate Finance, Mergers & Acquisitions and Securities attorney. Prior to Skadden, he worked for over four years as an associate at Vinson & Elkins LLP as a Corporate Finance and Securities attorney. Jeremy concentrated on public and private securities offerings, mergers and acquisitions and corporate governance and compliance. He has represented public and private companies, master limited partnerships and investment banking firms in numerous capital markets offerings. Jeremy has extensive knowledge in the exploration and production, midstream and oilfield services industries. Jeremy received his BBA (summa cum laude) in Finance and Economics from the Baylor University and his JD with Honors from The University of Texas School of Law.
Shale gas is natural gas that is typically produced from "continuous" gas accumulations where thick shale rock formations extend over a large area and are characterized by high levels of organic carbon or kerogen, the source of the gas. Shale plays can hold an enormous amount of natural gas and are capable of producing gas at a steady rate for decades. Although shale is a very common sedimentary rock and is a known source for unconventional natural gas reservoirs, the energy industry has not pursued widespread commercial development of shale plays until quite recently. As an unconventional resource, shale gas has traditionally been difficult to extract economically. Shale gas plays are characterized by low permeability which causes gas to flow more slowly than conventional gas resources and generally requires fracturing to allow gas to flow to well bores. As the price of natural gas climbed due to increasing demand and the flow rates significantly improved due to improved and cost-effective hydraulic fracturing technology, shale gas production became economically viable in the 1990s and led to the development of successful shale gas plays such as the Barnett and Fayetteville Shales in the United States. Significant shale plays are now being developed in Canada.
The Windsor Block covers 474,625 gross acres in the Windsor Sub-Basin of the Maritimes Basin located in the province of Nova Scotia, Canada. The property is within 25 miles (40 kilometers) of the Maritimes & Northeast Pipeline which supplies gas to one of the largest markets in North America - the northeastern United States. Natural Gas prices in these markets generally receive a premium to the benchmark Nymex Henry Hub price. Royalty rates in the province are a very reasonable 10% and initial production from new fields may qualify for a two-year royalty holiday.
Triangle originally acquired an interest in the Windsor Block through a farm-in agreement with Contact Exploration Inc. reached in May 2007 and earned its initial 70% working interest in the block by drilling and completing the first vertical test well in early 2008. Subsequently, in June 2008, Triangle reached a joint venture agreement with Zodiac Exploration Corp. Under the agreement, Zodiac paid 50% of drilling costs in a $16 million exploration and delineation program in exchange to earn a working interest of approximately 13% in the Windsor Block. Triangle operated the program and contributed 20% of the costs of the exploration program. Triangle's working interest in the project is 57% following conclusion of the 2008 drilling program. On June 11, 2009 Triangle executed a definitive agreement with Contact Exploration Inc. to acquire Contact's 30% working interest in the Windsor Block in exchange for agreeing to provide Contact a 5.75% non-convertible gross overriding royalty interest. Contact also received a cash payment of $270,000 and Triangle assumed the liabilities related to Contact's former working interest. Triangle now has an 87% working interest.
From May 2007 to June 2008, Triangle executed the first phase of the Windsor Block exploration program consisting of a 2D and 3D seismic program, geological studies, and drilling and completing two vertical test wells (Kennetcook #1 and Kennetcook #2). From July 2008 to March 2009, Triangle executed the second phase of the Windsor Block shale gas exploration program consisting of drilling three vertical exploration wells (N-14-A, O-61-C and E-38-A) and completing one of these wells (N-14-A).
During the first quarter of fiscal 2010 (Feb 1 - Apr 30, 2009), Triangle tested the N-14-A well, which was completed in early December 2008 with a four-stage perforation and fracture treatment. The frac flowback operations were suspended in April 2009 after the well recovered 15% of load fluid but negligible gas production. Subsequent analysis indicates an unusually high insitu stress regime in the immediate vicinity of the well, likely due to proximity to a major fault, which contributed to fracture ineffectiveness. Completion operations on the O-61-C well commenced in March 2009 and continued into early May. Several tight sand and carbonate intervals were perforated but not fracture-treated. Triangle obtained useful geological information from the well that will help guide subsequent exploration efforts. No hydrocarbons flowed from the well.
During the second quarter of fiscal 2010 (May 1- July 31, 2009), operations on the E-38-A well moved forward with three zones having been perforated and treated with diagnostic "micro-fracs." Engineering data from these tests are currently being evaluated. E-38-A evaluates an area of the Windsor Block which is structurally and geologicall y distinct from previous wells drilled in the field. Also in the second quarter, the two wells drilled in 2007, Kennetcook #1 and Kennetcook #2, were re-entered to isolate and test individual zones to identify the "gassiest" intervals in each well. From these tests, it appears the fracture treatments undertaken previously have commingled multiple zones together, making it difficult to separate gas from water in the subsurface.
On April 16, 2009, Triangle executed a 10-year production lease on its Windsor Block in Nova Scotia. The specifics of this production lease include the following highlights:
Triangle continues to evaluate and rank various shale opportunities in both Eastern and Western Canada. The objective is to secure an initial land position, engage an industry partner, and commence an exploration program. Triangle has extensively studied the Maritimes Basin in Nova Scotia and New Brunswick, and has identified several potential opportunities in the Maritimes, outside the Windsor Block.
In Western Canada, Triangle has participated in a multi-company shale gas geological study of the Western Canadian Sedimentary Basin. Triangle has had the study reviewed independently, employed its own key technical indicators, and is in the process of identifying prospective shale gas opportunities which make sense for the company's skill set and business plan. This follows the corporate strategy utilized in the Windsor Block in which the company capitalized on previous shale gas experience to secure an early stage shale opportunity, with a large land block, close to infrastructure.
Shale gas is natural gas that is typically produced from "continuous" gas accumulations where thick shale rock formations extend over a large area and are characterized by high levels of organic carbon or kerogen, the source of the gas. Shale plays can hold an enormous amount of natural gas and are capable of producing gas at a steady rate for decades. Although shale is a very common sedimentary rock and is a known source for unconventional natural gas reservoirs, the energy industry has not pursued widespread commercial development of shale plays until quite recently. As an unconventional resource, shale gas has traditionally been difficult to extract economically. Shale gas plays are characterized by low permeability which causes gas to flow more slowly than conventional gas resources and generally requires fracturing to allow gas to flow to well bores. As the price of natural gas climbed due to increasing demand and the flow rates significantly improved due to improved and cost-effective hydraulic fracturing technology, shale gas production became economically viable in the 1990s and led to the development of successful shale gas plays such as the Barnett and Fayetteville Shales in the United States. Significant shale plays are now being developed in Canada.
The Windsor Block covers 474,625 gross acres in the Windsor Sub-Basin of the Maritimes Basin located in the province of Nova Scotia, Canada. The property is within 25 miles (40 kilometers) of the Maritimes & Northeast Pipeline which supplies gas to one of the largest markets in North America - the northeastern United States. Natural Gas prices in these markets generally receive a premium to the benchmark Nymex Henry Hub price. Royalty rates in the province are a very reasonable 10% and initial production from new fields may qualify for a two-year royalty holiday.
Triangle originally acquired an interest in the Windsor Block through a farm-in agreement with Contact Exploration Inc. reached in May 2007 and earned its initial 70% working interest in the block by drilling and completing the first vertical test well in early 2008. Subsequently, in June 2008, Triangle reached a joint venture agreement with Zodiac Exploration Corp. Under the agreement, Zodiac paid 50% of drilling costs in a $16 million exploration and delineation program in exchange to earn a working interest of approximately 13% in the Windsor Block. Triangle operated the program and contributed 20% of the costs of the exploration program. Triangle's working interest in the project is 57% following conclusion of the 2008 drilling program. On June 11, 2009 Triangle executed a definitive agreement with Contact Exploration Inc. to acquire Contact's 30% working interest in the Windsor Block in exchange for agreeing to provide Contact a 5.75% non-convertible gross overriding royalty interest. Contact also received a cash payment of $270,000 and Triangle assumed the liabilities related to Contact's former working interest. Triangle now has an 87% working interest.
From May 2007 to June 2008, Triangle executed the first phase of the Windsor Block exploration program consisting of a 2D and 3D seismic program, geological studies, and drilling and completing two vertical test wells (Kennetcook #1 and Kennetcook #2). From July 2008 to March 2009, Triangle executed the second phase of the Windsor Block shale gas exploration program consisting of drilling three vertical exploration wells (N-14-A, O-61-C and E-38-A) and completing one of these wells (N-14-A).
During the first quarter of fiscal 2010 (Feb 1 - Apr 30, 2009), Triangle tested the N-14-A well, which was completed in early December 2008 with a four-stage perforation and fracture treatment. The frac flowback operations were suspended in April 2009 after the well recovered 15% of load fluid but negligible gas production. Subsequent analysis indicates an unusually high insitu stress regime in the immediate vicinity of the well, likely due to proximity to a major fault, which contributed to fracture ineffectiveness. Completion operations on the O-61-C well commenced in March 2009 and continued into early May. Several tight sand and carbonate intervals were perforated but not fracture-treated. Triangle obtained useful geological information from the well that will help guide subsequent exploration efforts. No hydrocarbons flowed from the well.
During the second quarter of fiscal 2010 (May 1- July 31, 2009), operations on the E-38-A well moved forward with three zones having been perforated and treated with diagnostic "micro-fracs." Engineering data from these tests are currently being evaluated. E-38-A evaluates an area of the Windsor Block which is structurally and geologicall y distinct from previous wells drilled in the field. Also in the second quarter, the two wells drilled in 2007, Kennetcook #1 and Kennetcook #2, were re-entered to isolate and test individual zones to identify the "gassiest" intervals in each well. From these tests, it appears the fracture treatments undertaken previously have commingled multiple zones together, making it difficult to separate gas from water in the subsurface.
On April 16, 2009, Triangle executed a 10-year production lease on its Windsor Block in Nova Scotia. The specifics of this production lease include the following highlights:
Triangle continues to evaluate and rank various shale opportunities in both Eastern and Western Canada. The objective is to secure an initial land position, engage an industry partner, and commence an exploration program. Triangle has extensively studied the Maritimes Basin in Nova Scotia and New Brunswick, and has identified several potential opportunities in the Maritimes, outside the Windsor Block.
In Western Canada, Triangle has participated in a multi-company shale gas geological study of the Western Canadian Sedimentary Basin. Triangle has had the study reviewed independently, employed its own key technical indicators, and is in the process of identifying prospective shale gas opportunities which make sense for the company's skill set and business plan. This follows the corporate strategy utilized in the Windsor Block in which the company capitalized on previous shale gas experience to secure an early stage shale opportunity, with a large land block, close to infrastructure
Triangle Petroleum Corporation (AMEX:TPLM) is a growth-oriented energy company with 75,000 net acres in the North Dakota Bakken Shale oil play and 413,000 net acres in the Maritimes Basin of Nova Scotia.
Triangle Petroleum Corporation is the parent company of the wholly owned operating subsidiary, Elmworth Energy Corporation
Share Information | |
AMEX: | TPLM |
Shares Out: | 42.9 million |
Diluted Shares: | 42.9 million |
Insider Ownership: | 4% |
Institutional Ownership: | 75% |
Jonathan Samuels, CFA
President & Chief Financial Officer
Email: info@trianglepetroleum.com
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