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Share Name Share Symbol Market Type Share ISIN Share Description
Trinity LSE:TRIN London Ordinary Share GB00B8JG4R91 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  +0.625p +5.00% 13.125p 310,572 12:51:12
Bid Price Offer Price High Price Low Price Open Price
12.75p 13.50p 13.125p 12.50p 12.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 33.44 18.75 6.66 1.9 50.4

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Date Time Title Posts
21/11/201809:19Trinity Exploration & Production 20182,898
18/4/201812:43Trinity Exploration & Production PLC6,457
14/2/201713:30Trinity with volume charts1
07/2/201708:31TRINITY EXPLORATION and PRODUCTION LTD3,403
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DateSubject
21/11/2018
08:20
Trinity Daily Update: Trinity is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker TRIN. The last closing price for Trinity was 12.50p.
Trinity has a 4 week average price of 11.63p and a 12 week average price of 11.63p.
The 1 year high share price is 27.90p while the 1 year low share price is currently 11.63p.
There are currently 384,049,246 shares in issue and the average daily traded volume is 1,457,808 shares. The market capitalisation of Trinity is £50,406,463.54.
12/10/2018
09:37
spellbrook: Trinity primed for profitable growth Simon Thompson Worth another read ....................... Trinity Exploration & Production (TRIN:17.45p) had been on my watch list for over a year when I decided the time and price was right to recommend buying the shares in this month’s Alpha Report at the current price (‘Resurrection points to a strong recovery’, 3 Sep 2018). Trinity is an independent oil and gas exploration and production company focused solely on Trinidad and Tobago, the wealthiest country in the Caribbean. It operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad where it has nine licences encompassing 1,165 wells of which 140 are active onshore, and 40 active offshore. The operating environment is favourable. Trinidad and Tobago has the third-lowest business tax rates amongst Latin America and Caribbean countries, is the eighth-largest producer of liquified natural gas (LNG) in the world, and boasts significant proven energy reserves of petroleum and natural gas. The economy is heavily reliant upon the energy sector, which makes up 45 per cent of GDP and 83 per cent of exports. Trinity accounts for 4.3 per cent of Trinidad and Tobago’s total annual oil production. It is also one of the lowest cost producers as first-half results this week highlight. Trinity’s onshore production increased by 20 per cent to account for 1,530 of its 2,771 barrels of oil per day (bopd) output in the first half this year, and at an operating break-even cost of just $15.70 per barrel. Offshore production was up 15 per cent to 1,046 bopd, all of which comes from a 100 per cent interest in the Trintes field (2P reserves of 14.78m barrels). Trintes has a relatively benign reservoir to produce from, and benefits from high API of oil (an industry measure to quantify how heavy or light a petroleum liquid is compared with water), low formation temperatures and effective sand control, all of which are supportive of an offshore operating cost of only $27.80 per barrel. So, with the average realised oil price rising by 30 per cent to $60 a barrel, and net production up by 16 per cent to 2,771 bopd including a contribution from its small West Coast operations, Trinity’s revenues surged by half to $30m to lift operating profits by 35 per cent to $2.6m in the six-month trading period. After tax charges – mainly Supplemental Petroleum Tax (SPT) which is charged at a rate of 18 per cent and 26 per cent on net revenues (gross revenue less royalties less incentives) on onshore and offshore assets, respectively, when realised oil prices are higher than $50 a barrel – Trinity more or less hit break-even if you ignore exceptional gains. Operating cash flow of $5m covered capital expenditure of $4.4m. I was expecting as much, but what prompted me to recommend buying the shares are prospects from this point onwards, and a very attractive valuation. Indeed, far more informative are the fresh forecasts from house broker Cenkos Securities, which point towards 2019 pre-tax and post-tax profits of $12.4m, which factors in an operating profit of $20m less SPT of $7.4m and nil corporation tax charge to reflect the benefit of past tax losses. This forecast assumes annual revenues of $72.2m and is based on a conservative-looking average oil price of $63.32 a barrel. If achieved then a net cash inflow north of $16m from operating activities will cover $14.3m of capital expenditure next year. On this basis, expect EPS of 3.2¢ which implies the shares are rated on a forward PE ratio of only 7. They are also priced on less than half risked net asset value (NAV) of 38p a share based on 2P proven reserves of 23.18m barrels and cash in the bank. Risked NAV is even higher at 47.2p a share if you factor in almost 24m barrels of Trinity’s 2C resources. It’s important, though, to understand why a £67m market capitalised company that has just hit break even could be making net profits close to £10m next year. Summer fundraise a game changer Up until the company’s 2013 reverse takeover of Aim-traded Bayfield Energy, another operator in the country, Trinity had a successful track record under the leadership of Bruce Dingwall, the founder and former chief executive of Venture Production, a UK oil and gas company that was acquired by Centrica for £1.3bn in 2009. Mr Dingwall led a management buyout of Venture’s Trinidad and Tobago assets, and built up a business producing 1,500 barrels of oil per day (bopd) by the time of the takeover. However, a major shortfall in Bayfield’s production coupled with increased costs forced Trinity to seek a settlement with its creditors two years ago after oil prices plunged to their lowest level since the 2008 global financial crisis. Not surprisingly investors have been cautious since then. However, a $20m (£15.5m) equity raise at 15p a share over the summer was a real game changer, wiping out liabilities to the convertible loan note (CLN) holders and other creditors who backed Trinity’s rescue plan in December 2016. Holders of 88 per cent of the CLNs opted to convert into equity at the placing price, a resounding vote of confidence. Trinity’s senior management team purchased almost 15m shares and own 24 per cent of the share capital, so they have skin in the game. As a result of the equity raise, Trinity is freed of financial constraints and a cash pile of $19m (£14.6m) means it has the funds to embark on a high-margin, low operating expenditure programme to boost onshore production at a time when the price of black gold is surging. The plan is to target between 8 and 10 new wells each year, and at a cost of $12m, in order to grow annual production by 10 per cent. Boasting an onshore operating break-even point sub-$16 per barrel, and with 80 per cent of the cost base fixed, then rising production combined with higher oil prices will have a significant operational gearing effect on future profitability. Interestingly, there is no problem finding oil in Trinity and Tobago as the geology is characterised by large oil in place volumes, but low recovery factors and well productivity resulting from low reservoir energy. Importantly, the geology doesn’t require complex completion techniques or fracking, rather efficient execution and use of pumps. Initial production rates from wells tend to range between 50 and 100 bopd, with decline rates of around 10 per cent each year. If all goes according to plan then Trinity should be able to lift production by a quarter to 3,500 bopd by 2020 from its accelerated onshore drilling activities. The financial returns are eye-catching with the pay-back period only 10 months on a new well based on a $60 per barrel oil price. Trinity is also unhedged for next year’s output so will benefit from the surging oil price whereas it was previously forced to lock into hedging arrangements to guarantee cash flow for its creditors. As investors cotton onto the transformation in Trinity’s finances and operational prospects, and the company delivers the step change in profitability I am anticipating, I can see the share price make headway towards my 28p target price as the discount to risked NAV narrows. The short-term profit taking post results represents a buying opportunity well worth exploiting. Buy.
11/10/2018
12:03
mark10101: Posted by GO on LSE and posted here with his permission. Hello... I started investing in Trin at around 9.7 p. I now own just a little below the threshold of 3% having come down from something over 4%. I was of a size then that allowed me to participate in the placing...the placing took me by surprise (as it did us all). In order to avoid dilution of my holding I partially participated in the placing (hence dilution below 4% at time of placing) with money that I had set aside for a tax bill. The tax bill is due at the end of the year. As the year has rolled forward I have been prudently selling in a way so as not to disrupt the price in order to not be caught out in December needing to sell shares in Trin with no buyers in sight...none of us, myself included, would want to see that! I started selling at 21 p and finished selling at 17 p...my tax bill is covered. Confounded, Ross Annan, CRL and WITJ know who i am...over the last ~16 months I have sought on this board and the other one to put out reasonable posting with good information flow of my findings about Trinity and the landscape of T&T. This company still has great fundamentals and I still have many shares. I stopped posting and I stopped putting things out there as a good shareholder citizen (spreadsheets etc) for the following reasons: It presented no upside for me and the contacts that I respected from these boards, I now know personally as they all wanted my spreadsheet...we chat elsewhere. I no longer wanted to participate on Boards that seems to have attracted such a low caliber of commentary. I just don't understand it...if you hate Trin and hold it...sell it and move on...cut your losses or make a profit but life is too short. For me, I know that employees of Trinity read these boards and I cannot imagine how their morale fares knowing they are representing some of the shareholders like many who post here. Trin is a long term proposition and therefore what is the point in posting with any frequency? Life is too short when there is no healthy debate. I am posting here again because my name seems to be the reason that some are mentioning the share price is down at 15 p with no end in sight. I am extremely pleased to see TXP doing well with its drilling! For me it demonstrates what can be done in Trinidad & Tobago and presents a really hopeful scenario for Trinity (who has embarked on a comparable journey in case we have all forgotten). I cannot understand certain embittered posters continue to smash Trinity (who seemingly hold shares in the company WTF?)...these characters are really upset about the placing so exact their anxst on the shareholder base rather than talking to the company...Tracy confirms she has never heard from any of these people...again, pick up the phone? How is smashing Trinity shareholders on the Trinity board about a decision that most of them are suffering from any decent way to behave? Its not like selling barrels of oil is a zero sum where it is either theirs or ours!? JPJ
26/9/2018
11:48
spellbrook: Summer fundraise a game changer Up until the company’s 2013 reverse takeover of Aim-traded Bayfield Energy, another operator in the country, Trinity had a successful track record under the leadership of Bruce Dingwall, the founder and former chief executive of Venture Production, a UK oil and gas company that was acquired by Centrica for £1.3bn in 2009. Mr Dingwall led a management buyout of Venture’s Trinidad and Tobago assets, and built up a business producing 1,500 barrels of oil per day (bopd) by the time of the takeover. However, a major shortfall in Bayfield’s production coupled with increased costs forced Trinity to seek a settlement with its creditors two years ago after oil prices plunged to their lowest level since the 2008 global financial crisis. Not surprisingly investors have been cautious since then. However, a $20m (£15.5m) equity raise at 15p a share over the summer was a real game changer, wiping out liabilities to the convertible loan note (CLN) holders and other creditors who backed Trinity’s rescue plan in December 2016. Holders of 88 per cent of the CLNs opted to convert into equity at the placing price, a resounding vote of confidence. Trinity’s senior management team purchased almost 15m shares and own 24 per cent of the share capital, so they have skin in the game. As a result of the equity raise, Trinity is freed of financial constraints and a cash pile of $19m (£14.6m) means it has the funds to embark on a high-margin, low operating expenditure programme to boost onshore production at a time when the price of black gold is surging. The plan is to target between 8 and 10 new wells each year, and at a cost of $12m, in order to grow annual production by 10 per cent. Boasting an onshore operating break-even point sub-$16 per barrel, and with 80 per cent of the cost base fixed, then rising production combined with higher oil prices will have a significant operational gearing effect on future profitability. Interestingly, there is no problem finding oil in Trinity and Tobago as the geology is characterised by large oil in place volumes, but low recovery factors and well productivity resulting from low reservoir energy. Importantly, the geology doesn’t require complex completion techniques or fracking, rather efficient execution and use of pumps. Initial production rates from wells tend to range between 50 and 100 bopd, with decline rates of around 10 per cent each year. If all goes according to plan then Trinity should be able to lift production by a quarter to 3,500 bopd by 2020 from its accelerated onshore drilling activities. The financial returns are eye-catching with the pay-back period only 10 months on a new well based on a $60 per barrel oil price. Trinity is also unhedged for next year’s output so will benefit from the surging oil price whereas it was previously forced to lock into hedging arrangements to guarantee cash flow for its creditors. As investors cotton onto the transformation in Trinity’s finances and operational prospects, and the company delivers the step change in profitability I am anticipating, I can see the share price make headway towards my 28p target price as the discount to risked NAV narrows. The short-term profit taking post results represents a buying opportunity well worth exploiting. Buy.
10/9/2018
06:10
spellbrook: Great and investorsprsentation , all coming together Trinity Exploration & Production Notice of Results Intraday Trinity Chart Intraday Trinity Chart 10/09/2018 7:00am UK Regulatory (RNS & others) TIDMTRIN RNS Number : 0189A Trinity Exploration & Production 10 September 2018 Trinity Exploration & Production plc ("Trinity" or the "Company") Notice of Results for the Half-Year ended 30 June 2018 Investor Presentation Trinity (AIM: TRIN), the leading independent E&P company focused on Trinidad and Tobago, announces that it will notify its results for the half-year ended 30 June 2018 on Monday 24 September 2018. Investor Presentation The Company will be hosting an investor presentation in London on the evening of Monday 24 September 2018. Executive Chairman Bruce Dingwall, and Chief Financial Officer Jeremy Bridglalsingh, will summarise the half-year results and: -- Provide insight into the underlying business trends; -- An overview of the ongoing positioning of the Company; and -- Outline the key milestones expected over the next period The investor event is open to all investors and will be held from 16.30 for a 16.45 start at a venue in the City. This will be followed by drinks and canapes, and a chance to network. If you would like to register to attend the analyst or investor briefing or require further information, please email trinityexploration@walbrookpr.com or call the Walbrook PR team, below. For further information please visit: www.trinityexploration.com or contact: Https://uk.advfn.com/stock-market/london/trinity-TRIN/share-news/Trinity-Exploration-Production-Notice-of-Results/78220530
20/3/2018
11:08
spellbrook: nice volume after yesterdays trades, for anyone new popping in worth another read BELOW...... Join the Caribbean oil rush as Trinity Exploration & Production looks set to drum up healthy returns Having spent the early part of his career at giants such as ExxonMobil and Lasmo, he co-founded Venture Production in 1996, a business ultimately sold to Centrica for more than £2billion. Dingwall left Venture in 2004, acquired its Trinidadian assets and set up Trinity Exploration a year later. He has been hard at work ever since. Many people associate Trinidad and Tobago with carnival celebrations and Caribbean holidays. But Trinidad is a major oil-producing nation, with companies such as BP, Shell and Chevron all operating off its coast. Trinity has cut overheads, trimmed its workforce and is now increasing production. The current price reflects Trinity¿s troubled past rather than its future and the shares are a bargain +2 Trinity has cut overheads, trimmed its workforce and is now increasing production. The current price reflects Trinity's troubled past rather than its future and the shares are a bargain Trinity is a smaller beast, but it is a significant local player, with a substantial onshore presence and offshore assets too. Earlier this month, Dingwall released figures showing that production rose more than 10 per cent from the first half of 2017 to the second half. Average production totalled 2,600 barrels a day, rising to 3,000 barrels during December. This year, the company aims to achieve daily production of between 2,800 and 3,000 barrels, rising to at least 4,000 by 2020. The company owns licences to more than a thousand wells but has been focusing on just 140 to keep expenditure down. Over time, new wells will be drilled, but Dingwall is determined to keep costs low, as Trinity is now one of the leanest oil companies in the industry with total costs of just $30 (£21.50) a barrel. Midas verdict: Trinity was hit hard when the oil price collapsed and the group is still feeling the pain. But Dingwall is nursing the company back to health, backed by an enthusiastic and dedicated workforce. Prospects are brighter than they have been in years, the group's long-term ambition is to reach daily production of more than 7,000 barrels and brokers believe the share price should more than double over the next 12 months. Adventurous investors should snap up some shares now. At 15.5p, they could prove a rewarding investment. Traded on: AIM Ticker: TRIN Contact: trinityexploration.com or 001 868 653 7651 Http://www.thisismoney.co.uk/money/investing/article-5513405/MIDAS-SHARE-TIPS-Trinity-Exploration-set-healthy-returns.html
18/3/2018
16:19
spellbrook: For anyone new that joins here’s the full article, good luck all TRINNERS.you need luck, tips, investors, to pick a winner and just maybe this little beast is waking up.. MIDAS SHARE TIPS: Join the Caribbean oil rush as Trinidad-based Trinity Exploration & Production looks set to drum up healthy returns By Joanne Hart, Financial Mail on Sunday PUBLISHED: 22:01, 17 March 2018 | UPDATED: 11:54, 18 March 2018 At its height in 2014, Trinity Exploration & Production was valued on the stock market at about £150million and the shares were trading at 159p. Then the oil price slumped and the Trinidad-based oil producer found itself with too much debt, too many staff and a bloated cost base. Chairman Bruce Dingwall was forced to issue nearly 200million new shares as part of a comprehensive restructuring package. Today, Trinity's valuation has shrunk to £44million and the stock is 15.5p. Out of the doldrums: At its height in 2014, Trinity Exploration & Production was valued on the stock market at about £150 million and the shares were trading at 159p Out of the doldrums: At its height in 2014, Trinity Exploration & Production was valued on the stock market at about £150 million and the shares were trading at 159p However, Trinity has cut overheads, trimmed its workforce and is now increasing production. The current price reflects Trinity's troubled past rather than its future and the shares are a bargain. Dingwall was born and raised in Trinidad and has spent more than 30 years in the international oil and gas business. Having spent the early part of his career at giants such as ExxonMobil and Lasmo, he co-founded Venture Production in 1996, a business ultimately sold to Centrica for more than £2billion. Dingwall left Venture in 2004, acquired its Trinidadian assets and set up Trinity Exploration a year later. He has been hard at work ever since. Many people associate Trinidad and Tobago with carnival celebrations and Caribbean holidays. But Trinidad is a major oil-producing nation, with companies such as BP, Shell and Chevron all operating off its coast. Trinity has cut overheads, trimmed its workforce and is now increasing production. The current price reflects Trinity’s troubled past rather than its future and the shares are a bargain Trinity has cut overheads, trimmed its workforce and is now increasing production. The current price reflects Trinity's troubled past rather than its future and the shares are a bargain Trinity is a smaller beast, but it is a significant local player, with a substantial onshore presence and offshore assets too. Earlier this month, Dingwall released figures showing that production rose more than 10 per cent from the first half of 2017 to the second half. Average production totalled 2,600 barrels a day, rising to 3,000 barrels during December. This year, the company aims to achieve daily production of between 2,800 and 3,000 barrels, rising to at least 4,000 by 2020. The company owns licences to more than a thousand wells but has been focusing on just 140 to keep expenditure down. Over time, new wells will be drilled, but Dingwall is determined to keep costs low, as Trinity is now one of the leanest oil companies in the industry with total costs of just $30 (£21.50) a barrel. Midas verdict: Trinity was hit hard when the oil price collapsed and the group is still feeling the pain. But Dingwall is nursing the company back to health, backed by an enthusiastic and dedicated workforce. Prospects are brighter than they have been in years, the group's long-term ambition is to reach daily production of more than 7,000 barrels and brokers believe the share price should more than double over the next 12 months. Adventurous investors should snap up some shares now. At 15.5p, they could prove a rewarding investment. Traded on: AIM Ticker: TRIN Contact: trinityexploration.com or 001 868 653 7651
08/3/2018
23:32
whiskeyinthejar: Trinity Exploration & Production (LSE:TRIN) Market Cap: £43.6m Price: 15.6p Spread: 8.6% Cash: £8.4m Source: Trinity Our third pick is the turnaround story of Trinidad and Tobago based Trinity Exploration & Production. Trinity heralded 2016 as a “transformational period” for the Group; with the company on its last legs and the share price plunging to pennies, it would have been hard to imagine the position that we look at today. The company is beginning to look up, with CEO Bruce Dingwall saying that they are “breathing oxygen again.” An Operating Update from the 5th of Feburary revealed that these claims were well supported, with a reported production rate of 2,777boepd for the three month period, an 11% increase QoQ, and an expected sustained production rate above 3,000boepd to be achieved in late 2018 announced. Trinity have massively cut their net debt positon to $0.1m from $38.0m in 2016, which leaves Trinity with only $5.9m left to pay on the loans that the company took out to make the turnaround possible. This is $2.9m below the amount envisaged under the ratified repayment plan. Now, with multiple production sites, and payment facilities from the restructuring coming to an end, Trinity are well placed for natural growth in production and cash flows. After the restructuring, only vital assets were kept and so the balance sheet looks streamlined and a lot healthier than it had done in the past, especially with their large relative cash position (c.20% of market cap) offering safety. The share price now sits around 15-16p, but with a RENAV of around 32p (oil prices factored in at $50bp) we believe that Trinity has the potential to see significant upside in the near future. We note that Trinity's full year results are out in early May, and in our eyes, any good news could act as a significant catalyst for the shares to cap off a very important 2017." Https://www.cjexposure.com/single-post/2018/03/07/Gaining-Exposure-to-Oil-Gas
05/10/2017
07:08
wingspan: Article should read for those who care: Shares in Trinity could ‘triple in value’ says broker Production, profit and cash flow are heading in the right direction 05 October 2017|Smaller Companies Issue: 05 Oct 2017 - Page 37 Tight control on costs and increasing production have increased profitability and cash flow at Trinidad oil producer Trinity Exploration & Production (TRIN:AIM) and provide a catalyst for the share price. Trinity completed a $15m restructuring earlier this year which has reduced net debt from $34.3m to just $1.2m. The company’s cash balance has also improved by 125% to $11.5m as of 30 June. The share price enjoyed a rally earlier in 2017 but has stalled over the past six months while the market awaited confirmation of the facts. We think now is a good time to buy as Trinity is targeting the ‘low hanging fruit’ in its portfolio, according to broker Cantor Fitzgerald. An increase in operating activities across its core assets during July and August has restored production levels to 2,600 barrels of oil per day (bopd). That puts it on track to hit year-end guidance of between 2,600 and 2,800 bopd and a near term target of 3,000 bopd. Management is targeting 3+ year BOPD number nearer 5-7,000 BOPD assuming a successful program kicked off by second half ramp up in well overhauls. The target should mainly be achieved by low-cost work on existing wells and drilling some additional production wells on the onshore portfolio. Executive chairman Bruce Dingwall tells Shares the company may drill on its offshore Trintes field in 2018 which will be a strong catalyst for the share price. At current WTI oil prices Trinity will be able to deliver decent profit as the company believes it can make money above an oil price of $28.2 per barrel. Trinidad has pointed to an overhaul of the SPT which will be economically significant for TRIN. The first oil deposits in Trinidad were discovered in 1866 and the first well was drilled in 1867 with continuous production beginning as early as 1908. Trinity is a material player in this industry – accounting for more than 3% of the island’s total oil production. Dingwall says although the regulatory system can take time to navigate, ‘it is also very process-driven, so you know where you stand’ and TRIN is locally run. The island has plenty of infrastructure including roads and equipment. The sub-surface is also very well understood because there has been so much drilling. This reduces the risk of production wells underperforming. Dingwall may already be familiar to investors in the UK oil and gas sector. He founded North Sea-focused Venture Production in 1997. The company was floated on the stock market at 170p in 2002 and subsequently acquired by Centrica in August 2009 for 845p per share. Dingwall insists his current company is ‘not an idea; it is a well-established profitable business’. Through a well aligned and experienced management team holders can look forward to a strong broker update soon, strong quarterly update early next month and a period where the market re-evaluates the value of this business - BUY Target price 40+ Pence
15/9/2017
12:30
che7win: Oil goes one way, Trin share price the opposite?
28/8/2017
14:06
whiskeyinthejar: Oil price is certainly a factor in TRIN share price I think, but not necessarily the spot price itself as rossannan says. It's fear and greed, rather than arithmetic. The wti bottom for this year was mid June at about $42. But TRIN is roughly at the same price now as it was in mid June. Rising wti does help us though. But its the direction of wti though thats often more important, rather than the spot price. eg wti at $45 on a rising trend will encourage investors to buy shares in oil companies, but if wti is at $50 and falling day by day they'll tend to wait to buy oil shares, hoping to buy cheaper later. In fact I think the company has made some modest progress since it peaked at 18.5p in March and IMO there's no fundamental reason for it falling back almost 50%. But the story IMHO has been this down trend and waiting for confirmation that the bottom is in. However, it looks like we may have finally bottomed so we might get a run up now ahead of trading update. Especially as production has bottomed now and should continue trending up now I think.
Trinity share price data is direct from the London Stock Exchange
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