Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 30/8/2018 10:18

Price firming, now may be the move we have been waiting for.

[diseasex] 30/8/2018 09:50

I think we will shoot this time

[spellbrook] 30/8/2018 09:28

TRIn tweet 12 minutes ago along with 4 pictures

Onshore drilling resumes with the 1st well of a 6 well campaign having spudded on Sunday

[marvelman] 30/8/2018 09:13

It would seem that TRIN's measured and somewhat calmer (if not confident) response to the Petrotrin situation has been received better than the one TXP bolted out yesterday. A company with no debt and cash reserves is always going to be in a better position than a company with debt that does not need any impediment to its plans from any source. Added another 2 x 5,000 this a.m.

[mount teide] 30/8/2018 08:39

For a clue as to why we are still in the 16p range - look no further than the market response to today's RNS - two small buys totalling £5k in value in the first half hour.

The II might be fully loaded now after gorging themselves at the 15p fifty per cent off trough, but it will probably be a long time before many of those who saw a 100% paper profit disappear faster than morning mist to facilitate it, are going to cut the management much slack.

[mark10101] 30/8/2018 08:07

WTI approaching $70 again, TRIN with plans in place to take out 3000bopd, T&T going through substantial change that a now rock solid TRIN has a chance of participating in and we are still in the 16p range.......

[mount teide] 30/8/2018 07:59

This is better - much more in line with what shareholders deserve.

Some further information on the drill programme / locations / depths / target plays / expected times etc would be helpful

[spellbrook] 30/8/2018 07:31

Excellent update prior to the inter ems, this company is going to grow

[f3rdinand] 30/8/2018 07:05

Extremely positive! I will be taking a position today!

[f3rdinand] 30/8/2018 07:04

Drilling commenced on six well Onshore campaign Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, is pleased to announce that it has spudded the first well of a six infill well programme, onshore Trinidad. As previously announced, the preparation for infill drilling operations has been ongoing with Trinity's subsurface teams working up incremental locations for future drilling. This work facilitated an increase on onshore 2P reserves (+50% to 5.98 mmstb in 2017) and the commencement of infill drilling in H1 2018 with the completion of two new wells, on time and on budget. The additional six wells to the 2018 campaign brings the total to eight wells. Having an inventory of new wells in the hopper, and the US$20 million fundraising completed in July 2018, has enabled Trinity to hit the ground running with an accelerated and fully funded drilling campaign. The aim of the programme is to maintain double digit year-on-year production growth going forward. The turnaround time of under two months from receipt of funds to spudding the first well illustrates the preparatory work to date and the depth of technical, commercial and logistical experience within Trinity's team. The Company also notes the decision announced yesterday by the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") to discontinue refining operations. The Company expects that this decision will have no impact to the ongoing Sales Agreements with Petrotrin for Trinity's oil production. The Company will announce its interim results for the six-month period ended 30 June 2018 in September. This will provide further detail on production, operating margins, operating break-even, costs and profitability - highlighting the growing value of the Company's assets and continued strong financial performance in an environment of improving oil prices. Bruce A. I. Dingwall CBE, Executive Chairman of Trinity, commented: "We are delighted to have commenced these new drilling activities onshore Trinidad with the spudding of the latest well in our plan so soon after raising new equity capital and becoming debt free. We have established a stable and well-funded profitable production platform and are ideally positioned to continue growing production, cash flow and shareholder value with this accelerated infill drilling programme. With peer leading break-evens and plans to increase production we can grow profitability in the short-term whilst working up a further step-change from future developments both onshore and offshore in the medium to long term. The landscape is changing rapidly in Trinidad and we look forward to updating the market with further developments."

[spellbrook] 29/8/2018 20:51

Oil getting closer to $70

[mount teide] 29/8/2018 19:20

Brent up $1.22/1.5% today - now back above $77.50.

The rising oil price was driven largely by a statement from the head of the IEA that "Robust demand and production uncertainty in some oil-producing countries are expected to tighten the oil markets as we approach the end of the year"

The IEA head continues to believe that oil demand growth will continue to be very strong, and coupled with the collapse in Venezuela and what he called the “fragility of production” in countries in the Middle East, the oil markets are set for tightening toward the end of this year.

Outside of war-induced outages, Venezuela is suffering the worst loss of oil production in history amid an unprecedented economic collapse, years of mismanagement and underinvestment in the oil industry, an aggravating humanitarian crisis, and a leader who is hell-bent on clinging to power. 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 profound economic and social crisis, the International Monetary Fund predicts.

According to OPEC’s secondary sources, Venezuela’s oil production in July dropped to below the 1.3 million bpd mark at 1.278 million bpd; plunging 47,700 bpd from June. Some analysts expect Venezuela’s production to fall to below 1 million bpd by the end of this year.

U.S. sanctions on Iran’s oil exports are expected to take around 1 million bpd or possibly even more off the market in Q4, which would further tighten the oil market if demand growth keeps its pace.

[mount teide] 29/8/2018 17:25

India is set to overtake China as the top driver of global oil demand growth according to research carried out by Wood Mackenzie - CNBC today


'India is set to overtake China as the biggest source of growth for oil demand by 2024, according to a forecast announced Monday by research and consultancy group Wood Mackenzie.

The country's oil demand is set to increase by 3.5 billion barrels per day from 2017 to 2035, which will account for a third of global oil demand growth. India's expanding middle class will be a key factor, as well as its growing need for mobility, according to Wood Mackenzie.

On the other hand, China — currently the second-largest oil consumer in the world — may soon need less oil. In 2017, it overtook the U.S. as the biggest importer of crude oil, but it's set to see a decline in oil demand growth from 2024 to 2035, Wood Mackenzie Research Director Sushant Gupta told CNBC.

That's due to two trends: Alternative energy sources such as electricity and natural gas are displacing the need for gasoline and diesel. And, a more efficient freight system and truck fleet will also result in sluggish road diesel demand, Gupta said.

For India, as demand grows, an oil shortage is already imminent. The country is only expected to add 400,000 barrels per day in firm refinery capacity out to 2023 — paling in comparison to demand growth — warned Wood Mackenzie.

"We think the most likely situation is that India would need between (3.2 million and 4.7 million barrels per day) of new capacity out to 2035 to remain self-sufficient in transport fuels. So we are talking about a future capacity which is 1.7 to 2.0 times the current. This is clearly an uphill task, unless domestic refiners can commit to their planned capacity additions," Gupta said in a Wood Mackenzie release accompanying the India demand projection.

With India's refinery yields still highly tilted toward diesel, Wood Mackenzie added that India needs to start focusing on increasing gasoline. However, with a global surplus of gasoline expected in the long run, India could consider importing the fuel, the research firm suggested.

India's fate has long been tied to oil prices, as it is a net oil importer, and rising prices are set to hit its economy. As a result, its currency could continue weakening, its current account and trade deficits are set to widen further, and its growth could be affected.

In the long run, the country could choose to switch its passenger transport sector — cars, vans and utility vehicles — to run on electricity instead, suggested Gupta.'

[diseasex] 29/8/2018 17:03

exactly what i've fallem for. They did accelerate loan repayment even more though ;-) Nasty surprise and I don't trust this management anymore. I'm holding as no disaster happened yet but I feel like for the last 6 months I don't know what has happened in the company. Lot's of question marks.

[mount teide] 29/8/2018 15:54

di - for the record - at the 27p pre placing peak i was sitting on a circa 100% profit with my main holding and then elected to average up heavily just prior to the placing - following which i found myself immediately post the placing back to an overall neutral position - up modestly on my original holding and down circa 30% on the averaged up position.

That did not put me in a good mood - particularly after the management and many of its PI cheerleaders had banged on about the merits of the investment case, citing the accelerated loan repayments - suggesting by inference that a placing risk was low.

I continue to hold my original position but will review the situation again closer to year end - if i fail to see a substantial improvement in the communication and rate of progress with the production development drilling programme it will be to Jadestone Energy's (JSE) gain and TRIN's loss.

[spellbrook] 29/8/2018 15:48

hopefully attack $70 soon

[spellbrook] 29/8/2018 15:47

Oil Jumps On Bullish EIA Data
By Irina Slav - Aug 29, 2018, 9:44 AM CDT

[marvelman] 29/8/2018 15:29

That's the way to do it DX...your not on your own with that strategy...there are at least 2 of us..:-))

[diseasex] 29/8/2018 14:59

I think MT got burned here (just as I had) so can understand his frustration. I haven't sold yet - which is a good sign, and hoping this stock will climb. So hold, as long as it takes to get the cash back ++

[mount teide] 29/8/2018 13:54

mark - nobody is complaining about the quality of the assets the company has or the ability of the management to sweat the assets to create shareholder value in a rising oil price environment - some of us did very well investing in Venture Production, which incidentally, communicated very well with the market while i was shareholder.

Shareholders have every right to ask hard questions of the TRIN Board as to the level of market communication and progress made over the last 18 months - which i am probably far from alone in being moderately critical of.

Why has TXP and CERP given their shareholders the courtesy of informing them of the potential impact if any of the significant developments at Petrotrin, yet TRIN has failed to do so?

[diseasex] 29/8/2018 13:40

I remember I invested in PEL.LSE . these guys were paying themself 1.5m and company was at a loss. That was a sell. I sold at 4.3 and today it's 1.7 , up from 0.9.
Trin numbers are reasonable.

[spellbrook] 29/8/2018 13:35

Oil at $69

[mark10101] 29/8/2018 13:26

Ross best not engage MT. The guy supossidly owns more TRIN then many of us combined yet he runs the company down... Time will tell if his love for TXP will be rewarded.