Trinity Exploration & Pr... Share Discussion Threads

[uapatel] 25/9/2017 07:30

Yes Shrewdmole, 3000 in the near future. Good news indeed.

Will be interesting to see how they plan to get there in terms of stages and timetable (i.e. 100 increments each month or all in one go - bit simplistic but be good to get a picture as what's near term to them).

[trotterstrading] 25/9/2017 07:30

Very strong update.. only a matter of time before share price reacts!

[shrewdmole] 25/9/2017 07:22

3,000 bopd in the near future.

[sandy12345] 25/9/2017 07:14

excellent update!

[deeppockets] 25/9/2017 07:11

All looking good, no down side!

[glennborthwick] 25/9/2017 07:07

stonking update

[spellbrook] 23/9/2017 20:33

Menzies knows a good thing when he sees it.....£55,000 so far"..

[whiskeyinthejar] 23/9/2017 18:24

oil- yes sorry I did correctly state $4.5m was net cash at end of June, but I blethered on as if I was talking about total cash at hand. Total cash was $11.5m as you say.

wwick, we'll find out more on Monday. Might not be much more, but if they just announce one Trinites drill then that would give us an idea of the cost of drilling all 20 targets. But I think Trinity are saying we can add significant production from Trinites very cheaply, so we'll see.

[spellbrook] 23/9/2017 16:50

If the bod want to earn life changing retirement dollar then 35p share holdings digesting is in their domain imo"....

[oilandgas1] 23/9/2017 14:44

Hopefully we get an update on Monday on cash, FCF and production for aug17, and a tighter range of expected production for the rest of 2017 😎

[oilandgas1] 23/9/2017 14:42

WITJ,

I thought cash at hand was

Cash @jun17 = $11.5m Not 4.5m$

Did you mean net cash i.e. Less debt ?

[wwick] 23/9/2017 12:36

Reality check and expectation management. Is not Monday's presentation simply formalizing the results announced on 9 August 2017? We have already heard an "overview of the Company and its plans for the future". Just saying. I'm fully loaded and have no inflated expectations. Feet on the ground. ps love the informative posts here, nice work.

[spellbrook] 22/9/2017 18:33

Menzies bought 500,000 at 11p he must be confident

Wti is better at $50

We have cash in the bank

We have reserves

We have very low costs

[whiskeyinthejar] 22/9/2017 18:28

Marvel, the bonus is for management not the BOD-although I know there's overlap.

But the BOD own 25% of Trinity so want the share price up and wont sign off on some wheeze just so management can get their bonus.

I think the problem is just uncertainty about their plans. Uncertainty is never good and investors need a story to buy into. Hopefully that issue should go away Monday.

[marvelman] 22/9/2017 18:01

Many thanks for your response Whisky.It would seem that the bod get 70% of the bonus pro rata on any increase in share price FROM 4.98 upwards and while 35p is the best possible result for them anything over 5p would mean they would qualify. It would be in their interests therefore to obtain a cash call to reach 100% to pay off the CLN's and receive all of their bonus albeit not as much as if the share price had reached 35p. I am now more minded more than ever to believe that the share price is reflecting such a cash call....but lets see what Monday brings. Regards.

[mark10101] 22/9/2017 17:01

The conditions for the management share bonus is in this RNS



The key points are

The Options will normally vest on 30 June 2022, subject to meeting performance targets relating to:

- In respect of 70 per cent of the award, the Company's share price growth from the 2017 placing price of 4.98 pence per share. If the 3 month volume-weighted price ("VWAP") at the testing date is 35 pence or more per share, this part of the award will vest in full. If the VWAP at the testing date is 4.98 pence per share or less, this part of the award will not vest at all. If the VWAP at the testing date is between 4.98 pence and 35 pence per share, this part of the award will vest on a pro-rated straight-line basis;

- In respect of 20 per cent of the award, repayment of the amount due to the Board of Inland Revenue of Trinidad and Tobago ("BIR") in accordance with the terms of the Creditors Proposal approved in 2017. The final payment under the Creditors Proposal is due on 30 September 2019; and

- In respect of 10 per cent of the award, redemption of all the Convertible Loan Notes issued in January 2017 before the second anniversary of their issue.

[marvelman] 22/9/2017 16:39

Whiskey

I cannot find any mention of the bonus condition on the link you gave....is it on another RNS or presentation?

[lw425] 22/9/2017 15:09

as the loan notes can be converted at a much lower price than 9p surely it makes sense to place shares at say 9p or 10p to pay them off? Less dilution although painful in the short term.

perhaps some cash for a high impact drill next year too?

[uapatel] 22/9/2017 12:30

Well said WITJ.

'...Trinity bonus requires them to get the share price to 35p and the BOD own 25% of the company so our interests are aligned...'

Exactly my point (probably being too cynical)

[whiskeyinthejar] 22/9/2017 12:23

There's nothing wrong with borrowing to invest.

Trinity say just one infill well at Trinites will produce 300 bopd. At $50 thats $5.5m in revenue per year. Most of that would be profit as our costs are mostly fixed and already covered.

Trinity have identified 20 in fill drilling targets at Trinites. So when they get around to it, potentially thats 20 x 300= 6000 bopd. Or $110m per year in revenue.

Im not sure how much drilling they will do next year, but the more they drill, the more they can afford to drill.

However the drilling is cheap and the wells hold their production. Low decline rates. Low risk as it's all 3D mapped. They say they can drill these targets from existing platforms.

Trinity bonus requires them to get the share price to 35p and the BOD own 25% of the company so our interests are aligned. Perhaps theyll farm out TGAL to raise funds.

It's all here. Particularly page 20.

[uapatel] 22/9/2017 11:35

I suppose it's all going to come down whether the board have any integrity or prefer clever financial adjusting to enhance their own position to the detriment of other shareholders. Don't think the share price would be worth much if that happened, but they only have a limited amount of shares themselves.

[marvelman] 22/9/2017 11:02

Mark (you know more than most on this company)....would it be acceptable for that 10% package to be financed via a placing....and therefore dilution anyway to their existing holding which may effectively cost them more?