Trinity Exploration & Pr... Share Discussion Threads

[spellbrook] 19/4/2018 12:33

sm would certainly make sense and will certainly show the progress and future to come, with or without the "BEAST" "GALEOTA"

[spellbrook] 19/4/2018 12:32

Oil Rallies to More Than 3-Year High as Stocks Tighten

By Sarah McFarlane
Oil prices hit their highest level in more than three years on Thursday, extending gains on tightening U.S. inventories. The rally comes ahead of a meeting between major producers on Friday, where oil exporting countries are expected to renew their commitment to draining global inventories.

Brent crude, the global oil benchmark, was up 0.9% to $74.15 a barrel on London's ICE Futures exchange having earlier reached $74.44, their highest level since November 2014. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.9% at $69.07 a barrel, having earlier touched $69.27, its highest point in over three years.

Oil markets shot up on Wednesday after the U.S. Energy Information Administration reported crude and product stocks had fallen in the week ended April 13, indicating healthy demand is helping a global glut continue to recede.

"The fact that the gasoline inventory reduction was more pronounced than anticipated was due to record-high gasoline demand, which is extremely unusual outside the summer driving season," said Commerzbank in a note.

Analysts said expectations that a meeting of the Organization of the Petroleum Exporting Countries in Saudi Arabia tomorrow will yield a reiteration of their commitment to reducing global inventories added to the bullish sentiment.

"It's normally the case that the market moves ahead of the news, it's pricing in a continued positive rhetoric from this meeting," said Bjornar Tonhaugen, vice president of oil markets at consultancy Rystad Energy.

The cartel, along with other oil producers including Russia, has curbed output since January 2017 in an effort to stabilize prices and reduce stocks.

Geopolitical tensions continued to support prices, with investors monitoring the U.S. stance on the nuclear agreement with Iran, due for review next month. A reinstatement of sanctions could risk hitting oil production.

"If sanctions are imposed again on companies dealing with Iran, maybe as much as 1 million barrels a day in the worst case scenario could be at risk," said Mr. Tonhaugen.

Nymex reformulated gasoline blendstock--the benchmark gasoline contract--rose 0.3% to $2.07 a gallon. ICE gasoil changed hands at $646.50 a metric ton, up $7.25 from the previous settlement.

Write to Sarah McFarlane at [e-mail]

[shrewdmole] 19/4/2018 12:31

Spell

I'm almost certain they said they were doing city rounds early May!!

[spellbrook] 19/4/2018 12:29

go

a fair nit pick, but i see it playing out a fair bit, it was hammered with the falling oil price on the way down..

Im hoping team TRIN organise some roadshows and Investors meetings after the May Results & Update

[mark10101] 19/4/2018 11:16

SB, always been my view once 20p goes we head to high 20’s low 30’s. Happy to put the 5 year chart in. It was not a normal option, if anyone knows the code to put it in I will.

[spellbrook] 19/4/2018 10:55

Mark 25p coming

Once it does i may have to request the 5 year chart in the header so we can see the "HUGE BOWL FORMATION" coming in to play

[mount teide] 19/4/2018 10:48

L2 - 4 mm's knocked off the top of the offer in one move

[spellbrook] 19/4/2018 10:41

do we now start to catch the attention of an Institution or 2

[mount teide] 19/4/2018 10:21

Beautiful chart - this and the POO is starting to draw in the momentum traders like mackerel to feathers.

[return_of_the_apeman] 19/4/2018 09:57

21p paid, blue sky now and breakout should renain intact

[return_of_the_apeman] 19/4/2018 09:50

Actual spread is currently 20.603 to sell and 20.697 to buy

Shouldnt take much for this to make good ground today :-)

[spellbrook] 19/4/2018 09:38

will we start to see 1-2p movements once we break 25p ??

[whiskeyinthejar] 19/4/2018 09:10

Opec-Russia meeting tomorrow. Saudi Arabia has already said the curbs should continue at least until the end of the year. Hopefully we'll hear about an extension into 2019.

[mark10101] 19/4/2018 08:47

20.84p paid, traders should play the breakout, all noise for anyway with an ounce of patience.

[shrewdmole] 19/4/2018 08:16

Guys there are numerous catalysts here for further growth and that's beyond the simple business plan in place now.

[uapatel] 19/4/2018 08:13

Yes does look as though we have 'crossed the Rubicon!'

[mark10101] 19/4/2018 08:10

Things shaping up nicely and we still have not needed any of the big possible catalysts to come into play to get through 20p.

[mark10101] 18/4/2018 21:14

Thursdays are good days for TRIN, with WTI at $68.77 it should help for a better outcome.

[whiskeyinthejar] 18/4/2018 19:47

"Basically, its desktop subsurface work appears likely to increase the company's reserves when it produces its year-end results. As it currently stands, only those wells that have been identified and budgeted are shown as reserves."

This isn't my understanding. I don't think the update on company onshore reserves will alter from being only those wells that have been identified and budgeted.

But what it means is that year after year, Trinitys onshore reserves wont go down despite producing a whack of oil.

However TGAL FDP offers prospect of substantially increased 2P reserves. There's more risk offshore, but flowrates are five to ten times as high as onshore Trinidad. So a TGAL FDP that promised low costs would excite the market IMO and hopefully a farm in. Even better if the FDP bumps up the recovery factor; if the FDP works to a higher recovery factor, that would bump up the reserves all right.