Trinity Exploration & Pr... Share Discussion Threads

[uapatel] 06/3/2018 09:50

rossannan,

Ok, no problem

[whiskeyinthejar] 06/3/2018 09:47

ross has long history of talking down shares he wants to buy or top up.

They will reform SPT, the question is when though. Biggest oil producer is Petrotrin, but they cant afford to pay SPT. The idea of having a publicly owned oil company is supposedly that foreign oil companies squirrel all the value overseas. But Petrotrin doesn't pay it's taxes. Rowley said in new year speech hes going to change that this year.

[croasdalelfc] 06/3/2018 09:41

Cantors reiterate with target 38p

[bones] 06/3/2018 09:35

Rosannan, they will do what it takes to clear the CLN's, that is a certainty in my view, even if they cannot say so. Even a last resort placing would be way less dilutive but hopefully it does not come to that.

I was a bit shocked by the $1.5m in Q4 for SPT. If that is a regular occurrence Q on Q, that is a fair whack to cash flow. Let's hope they get on with reforming it. Odds of that though?

[mawc] 06/3/2018 09:26

Summary from the Whitman Howard report on todays update..


Trinity released its FY17 update this morning, ahead of its FY results in May. We have made only minor tweaks to our model, which increases our RENAV (and PT) from 32p to 33p. We continue to think Trinity’s share price is trading at an unwarranted discount to its fundamental value, and remain with our BUY given solid operating results and potential 2018 catalysts including removal of the CLN overhang and further clarity on the potential value in Trinity’s offshore acreage.

[ny boy] 06/3/2018 09:16

Something wrong with the share price level then, I am holding long term, good recovery play, no debt, sooner or later the share price will start moving up rapidly, too cheap here imho

[return_of_the_apeman] 06/3/2018 09:10

No is the answer, I estimate this will generate cash of circa £32.5 this year against a mcap of £45m at current oil prices and company is now net debt free

[kaos3] 06/3/2018 08:51

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[mark10101] 06/3/2018 08:50

We need higher volume and as we have seen 100k sale yet again is enough to nip this move in the bud. Crazy people are so clumsy with their trades, either stupid or deliberate.....

However having said that I have a feeling today will play out differently to normal, with strength building in the day as those results are very very rare on AIM. No one has come up with a better oiler than TRIN yet, I may get shot down but happy to see another stock name posted in the interest of comparison.

[l j] 06/3/2018 08:34

I too disagree with your interpretation, Ross and question the likelihood of a placing given their clear intention regarding the CLN, Bones.

Perhaps this sentence from the Outlook paragraph has some bearing....

The Company's low consolidated operating breakeven (US$30.9/bbl) and the hedging programme which has been implemented in 2017 gives confidence that these growth and investment plans could be delivered even if the oil price declined dramatically to its 2015/16 lows and/or if the current SPT regime remains in place.

Which appears to suggest that they think it unlikely that oil will revisit the '15/16 lows and that SPT WILL be changed....

[kaos3] 06/3/2018 08:24

mark - you forgot to mention - at this value (share price) imho.
under your criteria you are right I think - but there are close to shares which could be regarded cheaper, with better momentum.

but whatever - TRIN is supereb investment and I ADORE MANAGEMENT - they are braveenough to be boring and dull. Which they are not for sure. They are able and DISCIPLINED.

they still exist

[return_of_the_apeman] 06/3/2018 08:23

With increased oil price, could this generate more cash than its current mcap of £44m this year?

[bones] 06/3/2018 08:21

Exploring various options to pay off the CLN's suggests or implies to me two things:1. Paying it off in 2018 is priority;2. A placing or fund raise could be one option in the absence of a sale of the West Coast assets or farm-in of other assets.We will I suspect continue to play poker with the traders in this stock until the answer becomes clearer.

[chestnuts] 06/3/2018 08:21

mark

SQZ aim oiler

[mark10101] 06/3/2018 08:18

Kaos, it is a condition that the government debt has to be paid off before we pay down the CLN

Ross, nothing is certain in life and we need continued oil strength, but the intention is clear which was not spelt out to the market before. Meanwhile we should have made another $2.5m in profit since the end of the financial year.

[uapatel] 06/3/2018 08:16

rossannan,

The CLN is still a chunk of monies and as phowdo has just said being conservative is prudent, especially as its hard to predict where the oil price will be in a given month and impacts on income.

Still way things are going, does appear for the moment we will clear the CLN this year.

[mark10101] 06/3/2018 08:13

What a great set of results. Good clear communication regarding intention to pay off CLN’s. Solid projection for production this year and lots of options left for the management and government to deliver a jump in share holder value.

TRIN is well on the way to become a very special AIM oil share. I have posted this before but if anyone can post an AIM oiler with better assets, in a stable geographic location, solid production and that has higher EBITA then please post.

[marvelman] 06/3/2018 08:12

I don't agree with your interpretation Ross but the share price is in the hands of the traders for now anyway..lets see how lucky they are this time

[croasdalelfc] 06/3/2018 08:09

Have they also accounted for the hedge collar going forward?

[phowdo] 06/3/2018 08:08

They were nearly wiped out 18 months ago.
Hence being conservative in everything they do since...

[spellbrook] 06/3/2018 08:06

Rcp and workovers is their bread and butter before deciding on any drilling, it’s what they do best

The Company is planning to implement a further 14 RCPs and 93 workovers/reactivations this year, to continue to invest in the Company’s infrastructure and to resume onshore drilling with two new infill wells targeted for H1 2018.

[kaos3] 06/3/2018 08:02

I find 2 interesting points - why paying government in advance? and - no offshore concessions plans whatsoever.

both is fine but ....

[marvelman] 06/3/2018 07:51

Yes indeed Kaos,that is the paragraph that answers ALL the questions and what a turnaround. Worth the wait for sure.