Trinity Exploration & Pr... Share Discussion Threads

[phowdo] 06/12/2017 08:29

Looks like TRIN and TXP are both awaiting outcome of SPT reform.

[laurence14] 06/12/2017 08:22

Has trading stopped across the board

[shrewdmole] 04/12/2017 15:03

Crazy not to add a few at 15p

[che7win] 04/12/2017 11:52

That is some spread, they've marked up the ask 1.5p from earlier when it was 15p

[mark10101] 03/12/2017 23:38

WITJ, like many have said until that staple goes in all the positive talk we have picked up on means nothing. Let’s hope this week brings more clarity.

[whiskeyinthejar] 03/12/2017 23:00

Hopefully, friday's pow wow finalized things, and now all we need is Imbert to find his big stapler to put his cunning plan together.

[ffp] 03/12/2017 20:52

Not a sell then?

[mark10101] 03/12/2017 20:36

Just a reminder what Imbert said in January



“He said smaller energy companies have said that they make a loss money when oil prices around $50 to $60 a barrel and the oil and gas fiscal regime has to be modified.

“We are going to deal with that and we are going to address the way the SPT kicks in, to make it a profit based tax rather than a volume or revenue based tax so there will be a more equitable increase in the SPT which should encourage local companies to engage in greater production and exploration,” he said.”

[mark10101] 01/12/2017 17:18

Does not look like anything came out of the meeeting today, but a poster on LSE stated it was a closed meeting that was not lived streamed for people to litsten to, like some are. Maybe something will come out in the press this evening or over the weekend.

[mark10101] 01/12/2017 13:25

Silver lining and all that :-)

[fsawatcher] 01/12/2017 13:03

jus check in with yous trinners

hows dat goin ??

slip slidin back to 12p/13p innit

you woz given scalp up

some diss me some like me but you know me

it jus tradin innit nuffink personals like nasty rash on your doo dar

[mark10101] 01/12/2017 10:15

14.75 bid 16.5 offer, we certainly are in a funny phase atm.

[mark10101] 01/12/2017 07:44

WITJ, yes a risky game calling a day for an announcement like this. I remember at the beginning of the year they said by the end of Q1 so I was eagerly anticipating it during the last few weeks of that qrt.

Also as you say I doubt it will be immediate, the start of the next financial year makes sense on Jan 1st. Whether we get a formal announcement today or not surely they will flesh out the details for people after the meeting.

[markth126] 30/11/2017 21:31

Why do you say it's a sell

[whiskeyinthejar] 30/11/2017 19:47

Mark, it doesn't matter to me, whether its tomorrow or another few weeks. It could be tomorrow- parliament sits tomorrow if that helps.

However, the consultation period is already done. We know Trinity were involved in that. January 1st is start of new TT tax year and SPT is assessed quarterly, I don't see them changing it mid quarter.

But it's still possible Imbert might waive it for October -December, because it's not paid until January so TRIN wont have parted with any cash yet. That might be wishful thinking, but the government has forgiven debts before and they'll have the December BPTT royalty payment.

Anyway, Imbert has said he thinks he'll be in a position to present his plans before year end. So it's soon. That's main thing imo. Trinity is accumulating cash regardless of tax reform or oil price.

[mark10101] 30/11/2017 19:18

WITJ, I have pinned some hopes on an announcement tomorrow as it make sense to make available the rest of the changes, so a bigger picture can be gained.

The article below from Oct 1st alludes to that, however who knows, they may miss the end of the year completely.....



“President of the Energy Chamber Dax Driver said it was “difficult “to say too much about the 12.5% royalty for oil and gas production. He said, “we have to look at it in the context of the overall proposed changes to the entire oil and gas regime.”

Driver said the tax was “still a work in progress,” as the Government was still working on the details. The tax takes effect from December 1.

Commenting on proposed new tax, the American Chamber of Commerce said “most worrying is the potential negative impact on investment of the additional taxes on the upstream energy sector, most significant of which will be the proposed Supplemental Petroleum Tax on gas. We hope that this will only be done after consultation with the industry.””

[ffp] 30/11/2017 19:09

Sounds like a sell then?

[whiskeyinthejar] 30/11/2017 19:02

Im not sure if Imbert will say anything new about reforming oil taxes tomorrow. Seems unlikely as I wouldn't normally expect news from an select committee, although I wouldn't normally expect a government minister to chair a select committee either. In UK, its backbenchers who get elected onto them.

Worth listening in for the general chat on energy I think anyway.

But from tomorrow, BPTT and maybe some other gas companies will be paying 12.5% in royalties. That's an increase of 25% from BPTT who produce more than 60% of TT gas. It's a lot more revenue for Imbert.

[mark10101] 30/11/2017 16:25

OPEC has extended cuts to the end of next year, with a review in June. The seeds have been sown for a colossal ralley in oil. We just need favourable tax amendments and TRIN will look a very different beast in 6 months time.

[gleach23] 30/11/2017 11:57

nafafa...they are not all sells. the trades @ 15.3749 are buys