Trinity Exploration & Pr... Share Discussion Threads

[shrewdmole] 16/2/2017 09:01

Wide spread usually a good indicator they are trying to deter buyers and attract sellers.

Actual bid and offer are a more realistic view.

[the big fella] 16/2/2017 09:01

Morning all

The sun is shining and the sky is blue, well it is here anyway. Breakout to new trading range today?

[loveandmoney1] 16/2/2017 08:56

smashing it in now.gl

[astorcourt] 16/2/2017 08:36

everyone is loading up topbanana, don't delay.

[top_banana1] 16/2/2017 08:34

what's happening here?

My friend friend's told me this is a 25p shs. I am trying to load up here.

[astorcourt] 16/2/2017 08:33

there it goes

[loveandmoney1] 16/2/2017 08:32

full ask 12.75 being paid

[loveandmoney1] 16/2/2017 08:27

only problem is I want 22p.

[astorcourt] 16/2/2017 08:25

they all seem to be short of stock, this could go ballistic soon

[shrewdmole] 16/2/2017 08:23

Told you guys they are filling up and short of stock.

[loveandmoney1] 16/2/2017 08:22

im also getting 11.95 to sell with those shysters Beaufort which is a result.

[astorcourt] 16/2/2017 08:19

Offered 11.95p to sell 200k

looking strong

[cwmwillis] 15/2/2017 20:31

Thanks guys.

When the time comes will give HL a bell.

Cheers
Cwm

[cwmwillis] 15/2/2017 20:31

Thanks guys.

When the time comes will give HL a bell.

Cheers
Cwm

[shrewdmole] 15/2/2017 19:49

760

I usually trade via my broker but away with wifi only as its half term.

Several times this week I've been after top ups starting at 100,000 shares and have had to drop it and drop it to get filled in smaller quantities.

Have managed to get a few but it's been difficult to get any size.

Add in dummy sells showing as way over bid and someone is filling up.

S

[760il] 15/2/2017 19:43

If they are not selling what you see on L2. Phone your broker and he/she will call the market makers. They will be obligated to sell.

If you are buying in between the spread then you may not get the volume but at full price or direct market access you will get what's on L2.

[shrewdmole] 15/2/2017 17:25

Any broker should bed and breakfast for you with a nominal fee.

Ask them to get a quote to do it first.

It's free money for them so don't let them have your pants down.

Nice day but anyone else get the feeling there's some big money moving in on the bid side late in the day and after hours in auction several days running now.

Happy to pick up 100-200k each time.

When the pi buys kick in here and decent volume day is a blue day, low volume days are enabling the mm's to manipulate the stock for the buyer.

Big indicators recently have been dummy sells online way over quoted bid price and three times last few days I've had online can't fill the order even though level 2 has shown enough stock.

Sm

[cwmwillis] 15/2/2017 16:30

All with Hargreaves Landsdown???

Cheers.

[aimmafia] 15/2/2017 16:25

A good broker will put it through with minimal or zero spread.Just trading fees

[cwmwillis] 15/2/2017 16:13

Little advice needed.

Will be looking to move my Trin holding from my Fund Account to my stocks shares ISA come April.

Never had to do this before but assume that by doing so i will rather much be down instantly by the spread % at the time of the trade. If i am correct, when would be best time to bed and isa? Mot seen the spread below 6% since i took a holding here.

Many thanks
C

[the big fella] 15/2/2017 16:07

Indeed. The current cashflow will see that small amount of debt that remains paid down in no time.

[marvelman] 15/2/2017 16:05

Yes Big Fella, I did you an injustice for not giving you credit also for a very interesting read on the intro to this thread. I have very quickly gone overweight on this company having been a holder a while back and sold when I decided the debt position was untennable. Very different now.Regards.

[the big fella] 15/2/2017 15:59

Just a quick reminder why TRIN remains IMHO the most undervalued oil play around:

282.5m shares @ 11.75p = £33.1m m/cap.

Long term net debt is only $9.7m and short-medium term it's actually a net cash position of $4.5m and with current production levels debt will disappear quickly.
Break even off shore $29.50/b and might fall some more (incl royalties, opex etc).
Break even on shore = $18/b.

TRIN quoted assumption was getting $45/b when the WTI oil price was $50/b.
Assuming 10% discount to the latest price - then we should be getting $50/b now.

Doing 1400 bopd onshore at $50/b less $18/b breakeven gives $32/b or $16.4m/yr.
Off shore at 1200 bopd at $50/b less $30/b breakeven gives $20/b or $8.76m/yr.
That's currently $48m revenue and $25m+ currently back after all costs so over $2m month.

If they progress that to the 3,000 bopd target pro rata from on and offshore that would take revenue to $60m and $30m/yr back at $2.5m month.

Valuing 20.7 mmbo P2 at just $5/b = $103.5m (£80m).
19.8m 2C at $1/b = further $19.8m (£15m).

Valuation currently of £33.1 versus £95m of both production/reserves value = fair value of 33p. The valuation post restructuring is totally and unequivocally cheap – Where else do you get such significant revenue, net backs, production, both P2 and 2C discoveries so cheaply?.