Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 26/7/2018 08:22

SB, yes TRIN ahead of the pack, T&T going through transformational phase. Happy to be sitting with the war chest we have. I personally think we may have the opertunity to buy producing assets with development potential. They do say at the right stage of the oil cycle it is easier to find oil oil on Wall Street than in the ground. I think we are in that phase with the changes to come at Petrotrin.

[spellbrook] 26/7/2018 08:14

RRL just raised, more will follow, what they do with the raise is important...

TRIN make money and now have no DEBT

should move north from here imo

[sleveen] 26/7/2018 07:50

Ross

Someone with unrealistic expectations of TXP perhaps.

[mark10101] 26/7/2018 07:42

Is our enterprise value really only £44m? Oil approach8ng $70 again, maybe today is the day the NEW TRIN snaps out of placing shock and reflects fairer value?

[diseasex] 24/7/2018 15:32

Indeed we are, there's pain awaiting for TXP holders we just had. Now let's grow and snowball value and profits. Right now we are earning 3m $ a month pre taxes.
with that generating 25% ROI and snowballing.
Waiting..

[mark10101] 24/7/2018 12:26

We are ahead if TXP, with our fund raise out of the way.

I am hoping the end of the year will be a very exciting time to be in all T&T oilers. Still happy to be 100% TRIN though with our economics and cash position as I feel that will play an important part of the story that will unfold.

[deeppockets] 24/7/2018 11:43

About time we played catch up with TXP. I'm in both!

[mark10101] 23/7/2018 20:59

Malcy’s latest



“Trinity Exploration & Production
A Q2 update from Trinity after a momentous few weeks in which the company completed its $20m fund-raise and production commenced from 2 new infill wells, a ‘pivotal period’ indeed. The raise will accelerate onshore activity as well as repaying all outstanding debt making the company a very attractive prospect in the sector. The 2nd quarter saw a 4% rise in production, up an impressive 16% y/y.

An initial six new onshore infill wells are to commence 2H 2018 as the company get set to start increasing production even more. With a strong balance sheet and increasing production across a largely fixed operating cost base shareholders can expect a ‘step change’ in earnings in future.

Whilst it is understandable that there has been some post-raise indigestion it has to be realised that this was way the best way of sorting out the finances going forward and the company are now set fair for some time to come. With significant cash flow and high margin production the shares look distinctly on the cheap side, my target price, adjusted after the raise is still above 30p per share making it one of the most attractive in the sector.”

[spellbrook] 23/7/2018 15:07

Farmout could also come

[marvelman] 23/7/2018 15:07

Bounty...mine are only my current estimates but as you say the comparison stands.

[bountyhunter] 23/7/2018 14:47

yes I realise advfn figures can be out of date but with -14m(TXP) vs +12m(TRIN) cash the point still stands;
thanks for posting the up to date figures; I'm happy enough to continue to hold here

[marvelman] 23/7/2018 14:11

Firsr qtr accounts said 14 million Bounty...ADVFN's numbers can never be relied on....and paying 8% interest I believe. However, Trinity have no debt and therefore no interest charges and a growing cash pile currently at circa 12 million. In any case I do not understand why stated current investors continue to push TXP over TRIN...I do hold TXP for the record but prefer the here and now over the possible and probable.

[diseasex] 23/7/2018 14:01

If oil grows and no disaster I think we will be good,

In a period of improving oil prices and with continued, robust break-evens (2017: US$30.9/bbl), Trinity's focus is on enhancing shareholder value by increasing production across a largely fixed operating cost base to deliver a further step-change in operating earnings (2017: US$11.0m up 77% on 2016: US$6.2m).
so earnings rose 77% for 2016 vs 2017. let's continue growing

[bountyhunter] 23/7/2018 13:44

but TXP have 22.86m debt which is about the same as their market cap

[diseasex] 23/7/2018 13:08

meanwhile txp valued at £22mil is aimming to achieve 2000 bbl/day this year.

[mount teide] 23/7/2018 11:28

At the current oil price - the T&T onshore producers will almost certainly be getting much more bang for their investment buck from infill drilling than through acquisitions - since with oil more than doubling from the Feb 2016 lows the days of 'cheap' oil and gas industry assets are now increasingly in the rear view mirror!

[whiskeyinthejar] 23/7/2018 10:46

The idea isn't really to grow the balance sheet- Trinity are going to re-invest everything back into growing production. They could drill faster, especially if oil price stays above $60. At $60, there's $10m set aside after fundraising for 'working capital and further opportunities' but the more they drill the less cash they'll have for aquisitions.

[diseasex] 23/7/2018 10:23

Indeed, I feel like I overpaid.
I bought this stock with sighs of growing balance sheet. but they burned 1m a month in q1 after all this rally on oil. Hmmm...

[mount teide] 23/7/2018 09:59

WITJ "They've signed new drilling contract for 6 wells in H2"

NO - what they have signed is a contract for "an initial programme of six new onshore infill wells to COMMENCE during H2 2018"

If they started the drilling programme with the first well in Q/4 2018 - they would comply with that statement.

Considering they recently said 10 wells by end of 2019 - if they did 1-2 in 2018, 4-5 in H/1 2019 - that would leave 4 during H2/2019.


I suspect this is going to be much closer to reality!

While good news it is unlikely to put a bonfire under the share-price in the short term considering the m/c is already £66m.

[whiskeyinthejar] 23/7/2018 09:36

I doubt they signed 6 well program until after fundraising. But they had two drills in Q2 and had to do repairs on two offshore wells.

[diseasex] 23/7/2018 09:28

Drilling contract signed for the initial six well campaign. Maybe this ?

[sleveen] 23/7/2018 09:28

As has often been said. The financial reality is often different to bulletin boards expectations