Trinity Exploration & Pr... Share Discussion Threads

[mount teide] 01/7/2018 22:34

TXP budget is based on $55 oil - with estimated 2014 cash flow of $12m-$14m and $20m-$30m in 2019 - TXP's 10 well production development programme this year and 20 well programme next year is expected to be funded entirely from cash flow.

The cash freed up under the credit agreement will be used to fund the ultra high impact 4 well exploration programme on the on-shore Ortoire block, starting in Jan 2019 - each well has 2,000+ bopd potential and the programme will be targeting both oil and natural gas prospects - with potentially very large reserves. "These are some of the most exciting opportunities i've seen in my 30 year career" Paul Baay CEO - worth looking in to since that statement is from a man who built his last company from scratch to 20,000 bopd and he considers the Ortoire prospects "low risk" for reasons he explains in his latest presentation.

If oil was at $50 the economic argument ref: debt servicing, would be totally different - but at the present POO it is a no brainer to drill more wells to increase production and cash flow, particularly now TXP's drilling costs have dropped from $292/ft in 2014 to an average of just $180/ft in 2017/18.

[wwick] 01/7/2018 21:48

"TXP's management has stolen a march over them since last summer" hmmmm!: $15 million credit agreement; Touchstone is required to repay $810,000 per quarter commencing on January 1, 2020 through October 1, 2022; fixed interest rate of 8% per annum. Simple and genuine question, how much of TXP earnings will be eroded by servicing debt?

[mount teide] 01/7/2018 20:55

Trump reckons the price of oil should be no more then $30 - seemingly oblivious to the fact that most of Opec needs $80 to $100 oil to balance their budgets!

[dunderheed] 01/7/2018 20:47

I don't - who are 'we' (the west) to dictate the oil price to the producers?
America has a lot of allies and supporters but some of Trunp's policies run the risk of permanent isolation of certain of America's services and currency movements.
For a long time China, India and Russia have wanted non USD denominated petro currency.
I am not sure about this Trump character - he certainly - (so far) appears to have done well with regard to N Korea (but the juries still out on final results) however the Iran methodology could really back fire and end up splitting certain very important allied support.

[mark10101] 01/7/2018 20:39

I get where he is coming from but where does he think the oil is coming from?

[dunderheed] 01/7/2018 20:15

Well you've got the idiot from the states expecting Saudi to turn the taps up so maybe a little volatile for a little while?

[mount teide] 01/7/2018 20:07

'oil-prices-heading-higher-maybe-80-ish-before-autumn/'

With Brent at $79.3 today they are really putting their necks out with that $80 call - the market may actually see that tomorrow !

[mount teide] 01/7/2018 20:05

Marvelman - thanks for your well argued reply - much of which i agree with.

Following this placing, considering the current and likely future oil price, i do hope TRIN's management pull their finger out and get the drilling programme underway asap to ramp up production.

TXP's management has stolen a march over them since last summer - drilling 10 new production development wells, with another 4 planed for Q3 and 20 more in 2019.

This has seen their onshore production rise to above TRIN's onshore production - allowing them to benefit hugely from the 84% oil price rise from $43 when they commenced drilling last summer to $79 today.

[spellbrook] 29/6/2018 22:10

$80 oil forum


hxxps://community.oilprice.com/topic/2689-oil-prices-heading-higher-maybe-80-ish-before-autumn/

[spellbrook] 29/6/2018 15:27

perky perky oil

[moneytree1] 29/6/2018 13:18

wait till oil goes back down and pay 10p.

[marvelman] 29/6/2018 11:57

I could buy at 15.73 and sell at 15.77 (really) and added in anticipation of not getting the 50,000 I asked for in the funding lottery.

[acsatix] 29/6/2018 11:56

"A fair few trades going through. I couldn't hazard a guess at which are buys and sells though. Any views on that."

I know: it was a sell from one party and a buy from another.

[makingmillions] 29/6/2018 11:53

Although the trade prices seem to be generally rising so that has to be a positive.

[makingmillions] 29/6/2018 11:51

A fair few trades going through. I couldn't hazard a guess at which are buys and sells though. Any views on that.

[mustbefunny] 29/6/2018 11:35

UkogAnd from 11p to 1p this year

[ssrover] 29/6/2018 11:24

All the action at UKOG folks. David Lenigas bought £500K worth yesterday (I'm sure he's privy to info). UKOG went from 1p-11p last year.

UKOG last time went into double-digits and that was on a drill. This is flow rates for 'the one'

[che7win] 29/6/2018 10:39

Oil rocketing

[acsatix] 29/6/2018 10:35

deep pockets: if venezuelan assets are up for sale, we better steer clear from them... would you want to deal with druglords in venezuela? Do you know how troubled venezuela is for the foreseeable future and how hard it to get any money out of venezuela legally? so I think Trinity is a bout trinidad and tobago and shall remain about trinidad an tobago (Trinity mean trinidad :) )