Trinity Exploration & Pr... Share Discussion Threads

[mount teide] 06/8/2018 10:27

ot3 - Good luck - with TXP's 4 well ultra high impact exploration programme due to commence in 4-5 months and with production upside from 7 new wells still to come in H2/2018, it would not surprise me if TXP continued to outperform my TRIN investment over the next 6-12 months and by some margin.

Each of TXP's five Ortoire exploration prospects in the event of success has got 100p a share upside potential such is the company's still very modest valuation.

[otemple3] 06/8/2018 10:12

MTSold out of my smallish holding in txp at just above 20p last week with a view to topping up here as the divergence seems too great to me now

[spellbrook] 06/8/2018 09:23

oil nudging nearer $70

[mount teide] 06/8/2018 08:53

Those that rotated out of TRIN(before the announcement of the surprise placing) in May at circa 27p into TXP at 14p certainly called it right.

Our TRIN investments need to rise by only 143% to 39p just to match that performance.

[nafafa] 05/8/2018 08:53

Correction quarter million

[nafafa] 04/8/2018 23:09

Quieter mill shares sold Friday hardly constitutes a big seller

[mount teide] 04/8/2018 10:54

Canada - Worsening oil industry transportation bottlenecks sees price differential with WTI blow out this week to an incredible $30.80 a barrel triggering production cuts and re-allocation of capital.


Canada’s Biggest Producer Cuts Drilling As Heavy Oil Price Tumbles - OilPrice.com

'Canada Natural Resources, the largest producer, is allocating capital to lighter oil drilling and is curtailing heavy oil production as the price of Canadian heavy oil tumbled to a nearly five-year-low relative to the U.S. benchmark price.

Due to the transportation bottlenecks, the discount at which Western Canadian Select (WCS)—the benchmark price of oil from Canada’s oil sands delivered at Hardisty, Alberta—trades relative to WTI has been more than US$20 this year.

On Thursday, that discount blew out to US$30.80 a barrel—the largest WCS-WTI differential since December 2013, according to data compiled by Bloomberg.

Canada Natural Resources said on Thursday in its Q2 results release that its North America crude oil and natural gas liquids (NGLs) production in the second quarter dropped by 3 percent from the first quarter of 2018, primarily as a result of production curtailments and shut-in volumes of around 10,350 bpd as well as reduced drilling activity and delayed completion and ramp up of certain primary heavy crude oil wells drilled in Q1 and Q2.

“Due to current market conditions the Company has exercised its capital flexibility by shifting capital from primary heavy crude oil to light crude oil in 2018, resulting in an additional 7 net light crude oil wells targeted to be drilled in the second half of the year. Primary heavy crude oil drilling was reduced by 24 net primary heavy crude oil wells in Q2/18, with an additional 35 primary heavy crude oil well reduction targeted for the second half of the year,” Canada Natural Resources said yesterday.

Canada is producing record amounts of heavy oil from the oil sands and its economic recovery is driven by the oil industry, but drillers are finding it increasingly difficult to get this oil to market because pipelines are running at capacity and new ones are finding opposition from various groups.

Until recently, production growth continued despite the pipeline capacity constraint that pressured Canadian crude into a major discount to WTI. Now, the Petroleum Services Association of Canada has cut its well-drilling forecast for this year to a number that will be lower than the 2017 figure. The body expects 6,900 new wells to be drilled in 2018, compared with 7,400 wells predicted in the April forecast. The 2018 figure is also 200 wells lower than that for 2017 as the pipeline shortage begins to bite.'

[diseasex] 03/8/2018 15:34

when it beats the trend. Somebody big is selling, that's what it is. Maybe sentiment , maybe oil, maybe insider (everything just not that lol). Once he sells we should go up

[dunderheed] 03/8/2018 14:58

Oh ffs, when will this share start rising lol!!

[mount teide] 03/8/2018 13:17

IMF predicts Venezuela’s inflation will surge to one million percent by the end of this year as the country with the world’s biggest oil reserves remains stuck in a huge economic and social crisis.

“We are projecting a surge in inflation to 1,000,000 percent by end-2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000’s,” Alejandro Werner, Director of the Western Hemisphere Department, wrote in an IMF blog post last week.

Venezuela’s real gross domestic product is expected to drop by 18 percent this year, which would be the third consecutive year of GDP plunging by double digits, “driven by a significant drop in oil production and widespread micro-level distortions on top of large macroeconomic imbalances,” Werner said.


Meanwhile, as the economic crisis continue to deepen and huge numbers starve and flee the Country the self serving venal Marxist leadership is promising a new policy on gasoline (the world’s cheapest)— which is currently generously subsidized by the Marxist regime.

Maduro has promised to roll out a new plan to ease the economic crisis and hyperinflation in a televised address to the nation that was delayed because of an hour-long blackout in the capital Caracas. Predictably, the President didn’t elaborate on the gasoline policy plan, but laughingly said in a televised cabinet meeting:

“I’m committed and with a new national hydrocarbon policy we’ll have enough money, cash, in this country to invest in everything our people need. We’ll have money to spare!”

Meanwhile back in the real world, Venezuelan oil output is expected to drop by over 50% during 2018 to under 1m bopd. Since oil is responsible for 95% of Venezuela's foreign earnings - someone in the President's treasury should take him aside and give him a crash course in basic economics!

[spellbrook] 03/8/2018 12:23

Trinity Exploration & Production

Trinity has confirmed that they have repaid all debts to the BIR and the MEEI in Trinidad bringing to a happy end the saga of when TRIN was in all sorts of bother, it is a huge credit to management to have got to this stage so quickly. The company can now move to the repayment of the convertible and leave a totally clean balance sheet ready to tackle the ‘strong inventory of growth opportunities’ in Trinidad which should lead to a return to share prices at a much higher level.

[diseasex] 03/8/2018 10:03

pardon my poor english but the sentence : "the redemption of the remaining convertible redeemable loan notes, and therefore being debt free, in the very near-term."
does that mean we are going debt free and staying debt free or ambiguous as to say "we are taking a loan in very near term" ?

[diseasex] 03/8/2018 09:59

finally some bulls action. should end nicely up today.

[mount teide] 03/8/2018 08:40

Q2/2018 US Oil Production weekly data shown to be nothing more than very poor guesswork.


The US Oil Production Mirage - Nick Cunningham / OilPrice.com


'Some of the surge in U.S. oil production this past spring might have been “a mirage.”

On July 31, the EIA released monthly data on U.S. oil production, which revealed a decline in U.S. output of 30,000 bpd in May, compared to a month earlier. The dip is a surprise, given the widespread assumption that U.S. shale production was continuing to grow at a blistering pace.

To be sure, a big reason for the decline in overall output was the 75,000-bpd decline in production from offshore Gulf of Mexico. But Texas production only rose by 20,000 bpd, a disappointing figure that likely came in far below what most analysts had expected.

Moreover, the monthly total of 10.442 million barrels per day (mb/d) for May is sharply lower than what EIA itself thought at the time. Here are the weekly estimates for U.S. oil production that the EIA put out back then:

April 6: 10.525 mb/d
April 13: 10.540 mb/d
April 20: 10.586 mb/d
April 27: 10.619 mb/d
May 4: 10.703 mb/d
May 11: 10.723 mb/d
May 18: 10.725 mb/d
May 25: 10.769 mb/d


....“Weekly data had shown a strong 324kb/d output rise from March to May. The revised data shows that this rise was a mirage: output actually fell 19kb/d over the period,” Paul Horsnell, head of commodities research at Standard Chartered, wrote in a note.

This is a rather significant development, and it has implications for more recent data releases. “It is time to deal with the statistical gorilla on the oil trading floor,” Horsnell of Standard Chartered wrote, along with analyst Emily Ashford. “We think US crude oil production has not reached the 11 million barrels per day (mb/d) shown in recent weeks in the Energy Information Administration (EIA) weekly data, and that it is significantly below 11mb/d, with growth slowing.”

That is a reasonable conclusion, given the roughly 300,000-bpd difference between the two surveys for May.

Most analysts have been assuming an overall slowdown over the next 12 months because of pipeline constraints. However, the EIA figures might suggest that the problem has already started to bite. In April, the EIA predicted in its Drilling Productivity Report that Permian production would jump by 73,000 bpd in May. But the monthly data just released finds only modest gains in Texas (+20,000 bpd) and New Mexico (+3,000 bpd).

Second, the EIA thinks output broke 11 mb/d in July, an all-time high. But judging by the overly-optimistic monthly data from April and May, perhaps the agency is also overstating July figures, which raises the possibility that production is not nearly as high as we currently think.

In the coming months, if monthly U.S. production figures continue to show output undershooting expectations, that would have global ramifications. Most analysts still are baking in strong U.S. shale growth figures into their forecasts. If that additional output fails to materialize, the oil market could end up being a lot tighter than we all expected it to.'

[diseasex] 03/8/2018 08:31

„Very very near term debt free” xD

[pinkfoot2] 02/8/2018 21:50

Seen worse Marvel-I would be more worried if they hadn’t raised the cash as the balance sheet looked stretched,warrants and decisions made on thin resources.Timing not brilliant but absolutely the right and brave decision

[marvelman] 02/8/2018 21:05

Can't disagree with that pinkfoot...fair point. I do agree we are where we are and from here on in we can only progress...just wish we had not had to pay such a high price for it. Seeing the share price drifting as it is does not help. Apologies for my rant.

[pinkfoot2] 02/8/2018 20:38

Sorry Marvel but the fact is negative chat just breeds negativity-in all parts of life and boy have I seen it.My glass is therefore half full, more so on this one given we have a clean slate and not worrying about cash-at all

[marvelman] 02/8/2018 19:49

pinkfoot..another profound post from you. Clearly not too much of your milk was spilt but please do not preach to those who have lost more than just a few broken cartons...there are quite a few of us.

[marvelman] 02/8/2018 19:38

BigFella..wrong. I did not wait until the mid 20's and have been buying since circa 11p. Do not assume I am a moron and I detect a certain piousness in that post. However, having a portfolio worth £x up until the BOD decision it became worth £x-28%...to me that is loosing a great deal whether I had been in profit or not. I am not alone in that situation. I am indeed responsible for my own investment decisions and the BOD are responsible for running the company whilst primarily looking after the interests of ALL shareholders which in my case they certainly have not. If I have had to take a hit for the "greater good" then so be it but I wonder whose good is the greater, mine or theirs. I will also leave it at that.

[spellbrook] 02/8/2018 19:34

Trinity tweet with 2 pics


New location being prepared next to oil export trunkline

[pinkfoot2] 02/8/2018 18:37

What a waste of energy on this board crying over split milk-whatever the sentiment or rights and wrongs,the Placing isn’t going to be repriced so get over it and buy more at 16p.Company now in great shape.

[diseasex] 02/8/2018 17:44

I think Iran is trying hard to boost oil prices. Now some weird military drill. Works for me, hope they fight ;)

[the big fella] 02/8/2018 17:41

You are responsible for your own investment decisions. The BOD are responsible for running the company. You had the same opportunity as the rest of us to buy sub 10p when at the time the shares were a gift, however you waited until they were mid 20’s. Who’s fault is that? I would also reiterate my earlier post that these could well be a lot higher in years to come given a friendly oil price. I will leave it at that.