Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 06/3/2018 11:20

I can vouch for Ross, he has been a miserable sod for as long as I can remember ;-). There was a time when it was just me and him here.....

I think Ross has called it right and why we still have a valuation gap. High oil price and the West-coast asset sale would do wonders to confidence here. I believe that we are well positioned to deliver the debt clearance this year without either of the above but nothing is certain on aim. It looks to be a good year ahead for TRIN and I am accumulating rather than selling at these prices.

[wingspan] 06/3/2018 11:07

Bones,

Thankfully the Trinidadian gas sector started paying their fair share of royalties on Jan 1 2018...12.5%. (was supposed to be 1 dec 2017)

This is important because Gas is 9 times oil production in Trinidad...in a year or two Trinidad will not be cash strapped.

I believe this paves the way for Oil sector SPT reform.

[spellbrook] 06/3/2018 10:55

lets watch 2018 unfold as further news lands, good luck trinners

[...]

[mark10101] 06/3/2018 10:51

Dunderhead, I did not ignore Chestnuts post I missed it. SQZ looks interesting, I just feel we are looking at a fantastic time to buying into oilers so happy for the heads up.

[oilandgas1] 06/3/2018 10:19

Good update today!

So we are now FCF positive . Net debt at Dec 0.1m now easily cleared in Jan and feb18, and cash at dec17 11.8m now easily building!

Debt: cln=7m+5.9m (BIR & MEEI)

FCF of $2.6m to $3.3m pcm at 2811bopd @60$ -66$

[dunderheed] 06/3/2018 10:11

Mark101 you ignored chesty's sqz. This is currently better value than trin but I do like trin. I'd have this as 2nd best aim o&g stock!!

[whiskeyinthejar] 06/3/2018 10:00

ross- i don't believe you. Why else would you write "and there is always PrimaryBid..."

[bones] 06/3/2018 09:53

Whiskey, the big problem for the T&T government is that they are financially up the creek (see Prime Minister's address in early January). Can they afford to forego the short term gains of SPT to their coffers - in reality, as opposed to glad-handing intentions?

[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.