Trinity Exploration & Pr... Share Discussion Threads

[spellbrook] 08/1/2019 15:13

wti nudging closer to $50

[spellbrook] 08/1/2019 15:13

wti nudging closer to $50

[spellbrook] 08/1/2019 13:59

M1010

No debt and $20.000.000

[mark10101] 08/1/2019 13:57

Looking very encouraging, such an unhyped stock, we are now left with an investor base that dont want to sell atm, seems the MM are having trouble sourcing stock....

[spellbrook] 08/1/2019 13:36

Pressure building

[nocents] 08/1/2019 12:32

I feel that Trin may have a part to play in supplying this oil . Why import at 4-7 dollar loss when you have it all there at your feet waiting to be extracted. Homegrown and at a profit to the govt. no lose no lose.

[spellbrook] 08/1/2019 10:45

PM: We have done reasonably well


T&T’s debt-to-GDP ra­tio is de­creas­ing, en­er­gy ex­ports are in­creas­ing and nat­ur­al gas pro­duc­tion is on the up­swing, Prime Min­is­ter Dr Kei­th Row­ley an­nounced in the sec­ond part of his ad­dress to the na­tion broad­cast on Mon­day night.

“That is called get­ting the job done,” he said.

Con­tin­u­ing with a pre­sen­ta­tion loaded with da­ta, Row­ley com­pared the sit­u­a­tion in T&T to oth­er oil-rich na­tions when com­mod­i­ty prices col­lapsed. He said while coun­tries like Sau­di Ara­bia, Qatar and Nige­ria in­creased tax­es and cut back on so­cial ser­vices, that had not been the case in T&T.

“We have not col­lapsed and hell is not our for­tune. We have done rea­son­ably well,” he said, not­ing that VAT had been re­duced, the tax-free al­lowance to in­di­vid­u­als had been in­creased, along with grants and so­cial ser­vices.

On the is­sue of Petrotrin, Row­ley said it was one of the few oil com­pa­nies in the world owned by the peo­ple and up to the time of Gov­ern­ment’s in­ter­ven­tion was sad­dled with $13 bil­lion in debt.

He said 100,000 bar­rels of oil a day was be­ing im­port­ed to keep the Pointe-a-Pierre re­fin­ery go­ing and was be­ing paid for in a debt arrange­ment in which the com­pa­ny in­curred dai­ly loss­es of be­tween US$4 and US$7 per bar­rel.

He said the fore­cast was for $2 bil­lion in loss­es every year go­ing for­ward. Be­tween 2014 and 2018 Petrotrin suf­fered $8.8 bil­lion in loss­es.

“An oil com­pa­ny is not to cost you mon­ey, it is to make mon­ey for you,” he said.

Row­ley said in the re­struc­tured arrange­ment, Her­itage Pe­tro­le­um Com­pa­ny will ser­vice the debt owed by Petrotrin, leav­ing more mon­ey for the Min­is­ter of Fi­nance to do oth­er things.

Ac­cord­ing to the Prime Min­is­ter, while in 2016/17 his ad­min­is­tra­tion set about to re­duce the fu­el sub­sidy, it is still cost­ing the coun­try al­most $1 bil­lion.

Row­ley, who de­clared that T&T will not go the IMF, said Gov­ern­ment’s strat­e­gy is to be­come more ef­fi­cient, by cut­ting out cor­rup­tion and waste.

He said sav­ings of $1.26 bil­lion had been achieved by re-ten­der­ing on some ma­jor projects, in­clud­ing the Cu­mu­to high­way which was re­duced from $550 mil­lion through open trans­par­ent ten­der to $400 mil­lion and the Curepe fly­over which went from $412 mil­lion down to $221 mil­lion.

Row­ley said go­ing for­ward in ad­di­tion to up­stream en­er­gy sec­tor projects, Gov­ern­ment has em­barked on a pro­gramme for di­ver­si­fi­ca­tion of the econ­o­my. He iden­ti­fied the Phoenix Park In­dus­tri­al Es­tate, the La Brea Dry Dock­ing Fa­cil­i­;ty, Aripo Agri­cul­ture Pro­gramme and the agro pro­cess­ing plant be­ing de­vel­oped in Moru­ga as some of the projects that will dri­ve the di­ver­si­fi­ca­tion thrust.

He al­so iden­ti­fied trans­port projects and pro­grammes, in­clud­ing com­ple­tion of the Point Fortin High­way, Va­len­cia to To­co road ex­pan­sion, To­co port and the high­way ex­ten­sion to Man­zanil­la.

He said in the plan to link Trinidad and To­ba­go through To­co, the in­ten­tion is for the Galleons Pas­sage to even­tu­al­ly op­er­ate on that sea route.

[spellbrook] 08/1/2019 10:41

This man was brought in for a reason (imo)


Nicholas Clayton Senior Independent Non-Executive Director

[nocents] 08/1/2019 10:37

Maximum you can buy now is £3,500.
Looks like stock short or buy(s) to be fulfilled. Price should rise from here as such.Still cheap and ready to explode.

[marvelman] 08/1/2019 10:36

Whatever, it feels much better now and sentiment is an effective medicament..isn't that right Sleveen.

[sleveen] 08/1/2019 10:33

POO recovering gradually, which may propel the share price upwards.

Following the placing it did seem like nothing was happening for several months (from an outsiders perspective),which may have caused the resistance.

[nocents] 08/1/2019 10:31

Mark. Absolutely! Baited breath.

[mark10101] 08/1/2019 10:22

I am sure there will be some resistance around 15p, we spent a long while in the Autumn testing 15.6p.

Let’s hope there is TRIN news that make technical trading irrelevant.

[nocents] 08/1/2019 10:21

Spellbrook. Agree with all your posts. We have things afoot here. 2019 may well see our broker price and the time to buy is at the bottom or as close as you can get.
Investors Chronicle/ Cenkos etc etc
Trin is still a steal especially as WTI about to resettle.

[spellbrook] 08/1/2019 10:17

Pressure building for the next tick up

May make placing price 15p today

[nocents] 08/1/2019 10:16

Sorry..usual typos

[nocents] 08/1/2019 10:16

Put simply it is tge reason I was unable to buy anything over £2,000 this morning but could sell whatever I wanted. These sells buys. They were being fulfilled.

[nocents] 08/1/2019 10:06

I do not believe it was a seller. These are buys that were being workd. It was at the current buy price at that time. Not sell price. It’s how Mm’s work. They make them look like sells. There is no time that the sell price was at 14.4. It shows ss sells because of the way Mm’s set the bid and offer far from reality.

[mark10101] 08/1/2019 10:00

MM I would think we will have sellers and buyers all the way up to new highs. I have not seen anything that suggest there is a persistent seller, volume is so low and I think TRIN has been buffeted by oil and the whims of a few sellers/buyers at what ever level we are at. It has been good to see our rise has been on similar volume to our fall.

[marvelman] 08/1/2019 09:45

That bloody seller is still with us it seems

[spellbrook] 08/1/2019 09:41

placing price approaching

WTI nudging north

2019 could be the year the Share Targets get REACHED !!!!!!

[spellbrook] 08/1/2019 09:35

$20,000,000 in the bank
New capped wells
low costs


and the interesting appointment of this guy:

appointment of Nicholas Clayton, as its Senior Independent Non-Executive
Director, with immediate effect. Mr. Clayton will be Chair of the Remuneration Committee and a member of the Audit Committee

[marvelman] 08/1/2019 09:17

...the chart is indicating such

[marvelman] 08/1/2019 08:55

….but can sell in volume...turning point?

[nocents] 08/1/2019 08:36

Interesting. Cannot buy. Only small amounts. I wonder why.