Trinity Exploration & Pr... Share Discussion Threads

[phowdo] 23/11/2017 15:51

What a shame LW425 has been stopped out for a loss once again.

;)

[lw425] 23/11/2017 15:46

the institutions won't touch this at this price with the loan notes hanging over the share price. conversion at 6p if not paid off?

saying they might be paid off isn't good enough

without the disposal monies this is now touch and go.

then consider they did openly state a placement for 2019 drilling

as we know from the spreadsheet, trin won't be adding cash to the balance next year as it needs cappex and the rest to pay down state debt.

it may work out but the news today is does not scream value to me

then there is always the risk of surprise depletions next year which would be a game changer to the downside

[che7win] 23/11/2017 15:40

At the recent presentation, the comment was made from the company that they would like more institutional shareholders rather than PI's.

I can see why, it's a nonsense that these should have fallen today on that announcement, especially with oil being so strong.

[spellbrook] 23/11/2017 14:07

Oil pushing on

[fsawatcher] 23/11/2017 14:06

"hey ho...so TRIN will continue to book the west coast cash"

it like coop stamps

they wanted the cash inadvance of $4.5m so they can accelarate ops

that not gonna happen now... hey ho

[wwick] 23/11/2017 13:27

hey ho...so TRIN will continue to book the west coast cash

[scottishfield] 23/11/2017 12:34

Fm Macy's blog :

Trinity/Range

It has been announced this morning that the previously announced deal between these companies by which Range were scheduled to acquire Trinity’s West coast assets has failed to obtain regulatory approvals in Trinidad. This means that the deal will be unable to complete by the backstop date of 30th November and accordingly lapses. Whilst this is a disappointment, both companies have other fish to fry.

For Trinity, as they had other good bidders for the asset they will re-market it but as it continues to perform well and contribute cash there is no hurry. In addition this does not change the investment profile for 2018.

[mark10101] 23/11/2017 11:34

Just looking at the trades on the day the sale was announced on the 11th Aug and the previous close price was a midpoint of 11.625 (ignoring a 10.75 bizzare 9 UT at the end of the 10th Aug) and on the day of the announcement we closed down at 10.75p. So depending if you want to take the UT into account the sale resulted in a 10% drop, or flat. So the market (if you trust it and I don’t with the Aug 10th UT illustrating why not) then it did not like the sale.

[lw425] 23/11/2017 10:56

so why don't you buy some more then?

[shrewdmole] 23/11/2017 10:31

a lot of talk about needing spt reform?

lets not forget that the reform would be a bonus and so will the eventual sale of the west coast assets. right now trin are increasing production month on month and oil is looking strong so every day trin are banking cash and have overpaid the debt to date.

like a say an unexpected buying opportunity.

s

[fsawatcher] 23/11/2017 10:26

"looks like an unexpected buying opportunity to me."

i defo fink you said that when it woz 18p

if you said at 19p it 'was an unexpected selling opportunity'

like i did

i fink you get a gold star

i got a choc eclair for myself as reward

i absolutely phookin luv em

i not fat thou

[shrewdmole] 23/11/2017 10:06

looks like an unexpected buying opportunity to me.

[mark10101] 23/11/2017 09:59

They already have some changes coming in on December 1st, it will never be a quick switch but the market and potential buyers of TRIN will be pleased even if it is new wells.

It will explaine why we have $12m in the bank and are not drilling until next year.

[che7win] 23/11/2017 09:57

LW,
a lot of Trinity oil fields are mature across the country - there needs to be an incentive to maintain them imho.

[uapatel] 23/11/2017 09:52

LW425,

Not sure if you're right or wrong on that front. If you had new wells on a better deal, surely you would just transfer your teams to those wells as they come on line and effectively make more money per barrel without producing more.(effectively retire the older wells). Not sure if that would benefit T&T going forward.

[lw425] 23/11/2017 09:45

guys. does the above suggest there will be no big profit boost for trinity in the short term?

to me it indicates the reforms will only apply to new drilling.

this makes sense.

why would they want to throw away lots of unexpected money with the spt tax now applying at current prices?

discuss

[lw425] 23/11/2017 09:43

page 35

"Madam Speaker, substantial amendments to the basic
set of laws governing the oil and gas sector will be
effected. In order to ensure that the competing demands
of maximizing revenue and encouraging investment are
achieved, a gradual move to the new oil and gas fiscal
regime would be required through a transitional period
in which both the existing and the new regimes would
operate."

[mark10101] 23/11/2017 09:00

Mid price now 16p so a pretty normal day here at TRIN. I personally think the market is much more interested in the tax reforms than the sale, as demonstrated by the response on announcement of the sale (down over the following week) compared to the solid rise after the T&T budget.

[whiskeyinthejar] 23/11/2017 08:59

They can rerun the auction. The West Coast assets should be worth more after SPT reform is announced.

[marvelman] 23/11/2017 08:49

Have to agree with FSA. Not good news and marked down accordingly not helped by the seller still divesting. However, pleased to here that other potential suiters are interested which has helped mollify an otherwise disapointing RNS.

[fsawatcher] 23/11/2017 08:39

wot happen when you fink you had $4.5m comin and then it not comin?

i do hope they dint go spendin stuff they aint got the money for

they get $4.5m for sale you lot say it good news
they NOT get $4.5m for sale and you lot say it neutral?

peeps on the juice around ere

you cant ave it both ways , it aint spit roast