Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 11/8/2017 08:52

Yes a good deal all round. The sums raised are not insignificant, for example one very good use of the money could be to pay down the convertible loans at one point. This would remove their dilutative effect further down the line. Obviously get growing and remain cautious for now but if the extra production boosts our cash balance and oil rises little would offer better bang for the buck.

[phowdo] 11/8/2017 08:31

Its a cracking win-win deal.
RRL think they've got a good deal and TRIN know they've got a good deal.

[jungmana] 11/8/2017 08:30

Top management here. They know what they are doing to create value

[whiskeyinthejar] 11/8/2017 08:29

West Coast assets are much more costly than East- I assume just because of the lower production numbers.

I looked it up in March presentation. West Coast break even was $38 in 2016

East Coast is only $26

So IMO its a good move taking the cash and investing it in ramping up East Coast production.

[mark10101] 11/8/2017 08:12

It does not matter when the move comes it will come.

[aimmafia] 11/8/2017 08:09

lol nothing will move this share price

[squiresquire] 11/8/2017 08:01

This seems a very good deal to me, loss of extremely small income versus cash amount really worth having. I like the strategy of concentrating their focus...it all fits well in my opinion.

[trotterstrading] 11/8/2017 07:58

Great deal IMO. Sold over market ascribed value and a measly 190bopd for $4.5!

[bones] 11/8/2017 07:55

JH, understood and apologies for misinterpreting your comment.

[mark10101] 11/8/2017 07:53

JH if we sold it off cheaply it may well give the market an idea of what our better core assets are worth.

We have sold a loss making decomissing liability non core assets making 190bopd for $4.55m. If all of our assets where of similar quality (they are clearly much much better quality) it would value us at $65m MCAP currently. Makes my 50p/$150m MCAP target next year seem less fanciful in my eyes.

[che7win] 11/8/2017 07:38

Cross, The deal doesn't complete until Novemeber, so production from the field will be retained by TRIN until then - which makes it hard to work out their expectations given in previous RNS, what do they expect post sale?

[john henry] 11/8/2017 07:34

Bones I didn't say it wasn't a good strategic move, just that they sold if cheap.

[croasdalelfc] 11/8/2017 07:33

They reiterated the target of 2600-2800 average bopd for the year yesterday.As I stated to get to 2600 they need to average 2900 for the last 4 months.They must be confident of that - weather permitting ;)

[che7win] 11/8/2017 07:32

Good deal to me, management now not distracted by West Cast assets, 190 barrels per day produced H1 from there.So I assume they must expect to replace this production in their recent forecast to reach ~3000 towards end of year?

[jungmana] 11/8/2017 07:28

Is good deal. We sold higher than the market value ascribed. Secondly is not our core asset. The money can be used to quickly get us to year target of 3000bopd.Gla

[bones] 11/8/2017 07:27

Cash is a valuable asset JH. We can now concentrate on exploiting the considerable potential of the East Coast assets and maximise the speed of re-igniting the existing onshore estate. Selling the West Coast assets will also reduce the need for manpower costs.That's the positives I see rather than the negatives that you always seem to see!

[john henry] 11/8/2017 07:19

They appear to have sold it very very cheaply, RRL seem over the moon with the deal.

[uapatel] 11/8/2017 07:17

Out buying tin hats, lol.

[ffp] 10/8/2017 23:28

Deary me do you work for the Mail on Sunday?

[lw425] 10/8/2017 23:22

Next two weeks could be dicey overall as we head into mid month and the North Korean plan to target the US base of Guam will be approved by Kim Jong-un.

It could be Brown Pants Time very soon for many people.

[mark10101] 10/8/2017 23:12

Law we have been shaken, little to fall out of this tree now. Oil been at this price quite a few times this August and we are lower now than when oil was $44, struggle to understand how that can be.... Friday's tend to be good for TRIN, Monday's not so good.....