Trinity Exploration & Pr... Share Discussion Threads

[andysaw] 25/9/2017 10:35

SP is gonna explode sooner or later today IMO. Brilliant results. More than 200% rise in profit

[squiresquire] 25/9/2017 10:14

200 day moving up through the 50 day, very nice going.

[astorcourt] 25/9/2017 10:00

nice 400k gone thru at 12.25p

[deeppockets] 25/9/2017 09:54

I'm def not a chartist but is it looking like breaking out of the down trend it was in?

[bigdazzler] 25/9/2017 09:42

Turned out nice again.

[spellbrook] 25/9/2017 09:40

11.6p are buys...

need some bigger buys to flush out the seller

[the big fella] 25/9/2017 09:40

Happy to sit and wait.

[astorcourt] 25/9/2017 09:32

presentation later today should provide extra impetus

[whiskeyinthejar] 25/9/2017 09:06

From Proactive Investors:


Trinity reveals positive financials as attentions turn back to growth

"Having secured Trinity's future in January, H1 2017 saw a directional change in the organisation's activities with the focus on preparing the company for growing production."

Trinity now target production of 3,000 bopd

Trinity Exploration and Production Plc (LON:TRIN) on Monday release half yearly results which were refreshingly concerned with the group’s ongoing performance rather than the now resolved debt limbo.

In the words of executive chairman Bruce Dingwall: "Having secured Trinity's future in January, H1 2017 saw a directional change in the organisation's activities with the focus on preparing the company for growing production safely while maintaining financial discipline in order to maximise the returns from our high-quality asset base.”

Following its refinancing, the company has focussed on production growth, and in its results it highlighted strong cash flows and low net debt.

Production for the half year averaged 2,397 barrels of oil per day, compared to 2,612 bopd in comparative period of 2016, but, realised oil prices were notably higher this year at an average of US$46.30 versus US$32.8.

The company reported earnings of US$5.5mln, up from US$1.5mln, marking a 267% improvement on the first half of last year. It ended the period with US$12mln of cash and US$1.2mln of debt, down from US$34.3mln.

Now, Trinity is focussing on projects that will increase production volumes.

“We are undertaking several key infrastructure projects during H2 2017 to underpin further growth,” Dingwall added.

“Combined, these activities provide scope to grow production from current levels to an initial target run-rate of 3,000 bopd in the near future.”

[squiresquire] 25/9/2017 08:53

Couldnt agree more, should get some broker comments too.

[marvelman] 25/9/2017 08:52

Well from those results TRIN has confirmed its position as gilt edged stock. How rare to see an oiler with cash in the bank and free cash flow even after paying down its obligations. Whether the seller continues to unwind it is now certain it is not because of anything the company is planning that the seller knew that we did not. The market will now determine TRIN's value and that journey re-commences from todays RNS.

[marvelman] 25/9/2017 08:31

Looks like our seller is still unrepentant.

[sandy12345] 25/9/2017 08:19

should break today this tight range 10-12p and then upwards!

[croasdalelfc] 25/9/2017 08:16

Q3 is nearly complete with revenue in line with Q1/Q2 .... poo down 10% across the Q , but production up 10%.Q4 is the big hope , with an average poo of $50 and 3000bopd would bring in $12.1m at a realised price of $45.

[andysaw] 25/9/2017 08:15

Very good results. I would expect rise in double digits today IMO

[wwick] 25/9/2017 08:08

v. pleased

[marvelman] 25/9/2017 07:49

Sandy....that was my "Phew"...

[squiresquire] 25/9/2017 07:49

This is a very nice interim, i shall be most interested to see Malcys take as he has been behind TRIN for a while and these figures show a continuing improvement in the dynamics of TRIN, excellent news.

[whiskeyinthejar] 25/9/2017 07:45

Big ramp up onshore in H2 on RCPs , 15 reactivations, additional rigs procured:

"-- H1 2017 work programme involved the completion of 5 RCPs, 34 WOs and 4 re-activations (H1 2016: 33 workovers and no reactivations);

-- H2 2017 planned work programme anticipates, at least, an additional 30 RCPs, 15 reactivations, 27 WOs and increased swabbing across all fields. Additional rigs have been procured to support the increased activity set. Further to this, work continues in parallel to expand the number of drill-ready infill well locations."

[sandy12345] 25/9/2017 07:39

also CLN conversion doubts cleared! See below

On 11th August 2017 Trinity, entered into a binding sale and purchase agreement ("SPA") to sell its interests in the Brighton Marine and the PGB Exploration and Production Licences and related fixed assets to a subsidiary of AIM quoted Range Resources Trinidad Limited ("Range") for a cash consideration of $4.55 million. Together, the West Coast Assets constitute all of Trinity's West Coast Asset portfolio. The sale is subject to customary regulatory approvals, including Petrotrin and the MEEI. Under the terms of the transaction, Range has agreed to deposit the full consideration of $4.55 million into escrow to be released on completion. The transaction is expected to complete in the fourth quarter of 2017.

The transaction is not considered to constitute a 'material disposal' which would trigger the conversion of the CLNs and the funds received will be used for general corporate purposes.