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TRIN Trinity Exploration & Production Plc

40.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Trinity Exploration & Production Plc LSE:TRIN London Ordinary Share GB00BN7CJ686 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 40.00 39.00 41.00 40.00 40.00 40.00 35,759 08:00:28
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Trinity Exploration & Pr... Share Discussion Threads

Showing 8826 to 8847 of 29675 messages
Chat Pages: Latest  359  358  357  356  355  354  353  352  351  350  349  348  Older
DateSubjectAuthorDiscuss
12/1/2018
15:41
Yes Does look the next most probably date, not that far away now.
mark10101
12/1/2018
15:32
Energy conference on 22nd - 24th, that's a likely time for any announcement on tax reform:
It's a big event for T&T oil:

9:30am – 9:50am Feature Address: Franklin Khan, Minister of Energy and Energy Industries, Republic of Trinidad and Tobago

che7win
12/1/2018
14:32
The extract from new regulations attached to that tweet posted by Rossannan includes, as an example, the following:

4. Regulation 61 of the Regulations is amended by revoking subregulation (1) and substituting the following subregulation:
“ (1) Every Exploration and Production (Public Petroleum Rights) Licensee or contractor under a production sharing contract shall pay a royalty at a rate of 12.5% on the net petroleum won and saved from the licensed area or contract area.”.

The changes to the Regulations takes effect from 1st January 2018, so already looks like changes are afoot.

bones
12/1/2018
14:25
Our Trinity man is sitting in on the Trinidad & Tobago new (hopefully soon) reforms including SPT....Non-Executive Director* Jeremy Bridglalsingh
spellbrook
12/1/2018
14:00
Added a further 86k today (17.4p and 18p) for good measure. Think that will do for now!
bones
12/1/2018
13:56
Thanks Ross, good to see and gives resurance that SPT reform will come just a matter of patience.
mark10101
12/1/2018
13:53
Trinity & Walbrook tweeting
spellbrook
12/1/2018
13:52
$TRIN #TRIN Pleased with the speed of Royalty reform progress and hope this paves the way for rapid SPT reform which could boost bottom line economics and valuation news.gov.tt/sites/default/…
spellbrook
12/1/2018
13:33
The west cost is worth approx $150,000 in profit per month at this level of oil so happy to hold on to it. If oil remains high the extra reserves and income can only boost TRIN.
mark10101
12/1/2018
13:25
Hopefully there are better oil players than Rrl about...

In the meantime we benefit from the increase in oil $$$$$. So win win

spellbrook
12/1/2018
13:19
Yes but they need to find a buyer who will meet the approval of the Trinidad Government
mesquida
12/1/2018
13:16
West asset could be worth 1 to 1.5m more with the oil increase
spellbrook
12/1/2018
13:03
How much is the west coast asset worth now with oil in $60+
spellbrook
12/1/2018
12:57
Last set of figure I had

Cash $12.3m at 30Sep17
Debt: $9.7m June & Sep17 repayment of $1.3m = $2.6m paid?
FCF of $2.5m pcm at 2754bopd @50$ or 250k per week currently
Capex for 2017: $25m
Estimated Revenue: $25.16m Py 2017
Break even = 18$ onshore & 30$pb offshore
Production: onshore (1400bopd) & offshore (1200bopd)
Hedging:
1) The existing hedge, which comprised put options for 31,645 bbls per month at a WTI strike price of US$40/bbl, remains in place until 31 March 2018
2) Trinity has entered into a zero cost collar with a WTI price floor of US$45/bbl and a cap of US$59.80 for 25,000 bbls per month over the period from 1 January 2018 to 31 December 2018

Anybody got any updates in particular for the debt and repayment schedule?

West Coast Assets sale 4.5m 264bopd mar?

2018 drilling plan h1 (?? Drills planned)& h2(4drills planned)

oilandgas1
12/1/2018
12:53
TRIN's new hedge from March (the $45 - $59 collar) only covers about 25% of their output (25kbopd per month is to be hedged I believe). The current hedge was a put option struck at $40 so that expires worthless and has no bearing on their revenues currently.
bones
12/1/2018
12:21
Che7win, absolutely. I am one of the people, even during 2015 oil crash, saying the fracking story is a red herring and the market mantra was flawed. The fact it has remained flawed for such an extended period is what make 70-90 oil very possible this year. In actual fact I believe frackers (if they can) need to beat all the unlikely targets set by the EIA this year as demand is so strong it is going to catch the supply side out. And this is with the world oil market remaining in the benign state it is in.
mark10101
12/1/2018
11:45
shrewd,
agreed.

The macro concern is that frackers ramp up production, a lot of them are hedging in at these prices and some into next year.

OPEC is also likely to have members break ranks if oil price continues upwards.

Against that, oil demand has been higher than anyone expected last year, even with subdued demand increases from India.
And gas prices are also going up strongly this week.

che7win
12/1/2018
11:35
I think that was sensible.

Some here think oil could keep going but $60 oil is where fracking starts to effect economics according to some opec members.

Happy above $50 as we are very profitable then anyway.

shrewdmole
12/1/2018
11:29
shrewd,
no negatives as such, but the CLN note payment might be holding back any drilling plans?

The hedging policy also has decreased risk but limited some upside, not really a negative.

che7win
12/1/2018
11:28
Level 2 looking very very strong
shrewdmole
12/1/2018
11:20
Another possible positive, being so close to Venezuela geographically, is picking up some of that country's distressed business?

Like you, struggling to see the negatives. If anything, the one that does hold TRIN back is reputational given the near bankruptcy two years ago. Even the effects of that may be wearing off. Of course, there are many investors in from the re-financing at just under 5p so a potential overhang technically but I believe the investors were mainly sticky long-termers, not minded to sell for a quick buck. I suspect those that were sellers, will have done so long ago. Remember the long drag that kept us held down at 10p?

bones
12/1/2018
11:16
I agree with that wwick.

The last date we have a net debt figure is (-$1m) at end H1 2017.

But we know cash rose from $11.5m at end of H1 to $12.3m at end September. And they made debt repayment during this period.

So I don't think it's unreasonable to estimate that $1m of net debt was wiped out by end of 2017. And so we now have a positive cash position.

whiskeyinthejar
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