Share Name Share Symbol Market Type Share ISIN Share Description
Trinity Exploration & Production Plc LSE:TRIN London Ordinary Share GB00B8JG4R91 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20p -2.00% 9.80p 9.70p 9.90p 10.40p 9.27p 10.40p 2,188,738 14:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 49.1 -3.2 -1.6 - 38

Trinity Exploration & Pr... Share Discussion Threads

Showing 15026 to 15047 of 15050 messages
Chat Pages: 602  601  600  599  598  597  596  595  594  593  592  591  Older
DateSubjectAuthorDiscuss
17/10/2019
22:34
PA. Never say never. Correct. But your post genuinely appreciated in an “ interesting” time and perhaps pokar exchange of views. I watched the Sep.11th interview 3 times. Was pretty much reflection of London meeting but worth watching. In spite of opportunity cost in our cases. Where hope springs sternal! Disagreement as much as agreement are the food of true debate. And a genuine goodnight this time.
nocents
17/10/2019
22:01
I can’t disagree with the number crunching. Am out of my depth. Nice to hear from MT too. But there are different circumstances very much at play here. Such is life. There are certain posters I miss. Goodnight all.
nocents
17/10/2019
21:49
I apologize for the usual typos. I should’ve checked.
nocents
17/10/2019
21:45
Btw. I broke my word. Said too much.
nocents
17/10/2019
20:44
PA...nice posting...fact rich which I like compared to some postings...it matters not a jot if you have been here one day, one year or one decade...a reasoned opinion is the only thing that matters. Sometimes you hear on these kind of boards that posters have been around for a long time as if that earns them the right to XYZ...as far as I am concerned, the only right it earns them is the obligation to be less wrong. :-) To your points: Yes...good tax breaks Decline rates: I have heard touted (onshore) 25% year one and 11%-13% thereafter. Swap $ for £ though if Brexit carries on as it is, that might be moot! And then you have recompletions for wells which is a plus...you have to start at the bottom and work your way up. Trin is doing an EXCELLENT job in managing themselves very carefully...I find the comments of a few blaming the management for external factors "ludicrous"...nearly as ludicrous as Malcy's ludicrous comment, but not quite that ludicrous. Bruce is an excellent company facing operator and deserves his pay. My primary concern surrounds what is in your second to last statement...cash: the ongoing infrastructure costs (annual capex) as well as the drilling capex...with no fiscal reform; do the decline rates and money spent slowly start to drain down as that cash / time factor passes...? What is an appropriate rate of return for your investment...if the numbers don't work as you would like, does the lost opportunity cost elsewhere start to hurt through the erosion of your capital? This last budget had a chance to put pay to that: it did not. That is the long term headwind. Does the flywheel of momentum start to slow visibly at some point? ALL of which could be overhauled by a simple and rational 100% drilling capex against SPT (recently shifted from 20% to 25%.) The silver lining: Trin is very cheap now...hard to see it going much cheaper which makes it a bit of a long term call option with the carry being some potential downside exposure and lost opportunity elsewhere. The valuation gives an appearance of being ludicrously low and if there is fiscal overhaul (better luck in 11.5 months post the general election??) then the shares should rightly double overnight (and I mean that). Finally, if oil screams higher (and stays there) then it is a 50% upside event for Trinity, accelerating from there as the quarters pass. Just my thoughts... GO
gabrieloak
17/10/2019
19:43
go, before looking at your recent post I'd just like to point out that I appreciate that you would appear to have been here considerably longer than myself (hmmmm c. one month)and I also appreciate the detail included in your post. My only previous investment in an oil share resulted in an embarrassing and eye watering loss but debt was their failing and the cash here caught my attention and my investment here is limited to 4% of my portfolio of shares. A couple of points regarding your post: As you will be aware there are considerable tax breaks in the first two years of a new well's production and although I agree that there should be more info on declines (5% offshore)the economics of these infill /low risk wells looks very sound to me. In an interview BD said c.£1m a vertical and c. £1.5m for a high angle (must check that). Even with decrease over time an initial 134bpd goes a long way towards cost. After the two year tax break the well should chunter on with a greatly reduced Capex against it (albeit at a lower rate). As far as the tax situation goes TRIN have simply said "it is what it is" and they are just getting on with it. The options help as does the improvements in production . Wells producing 50% more than they expected must be good news. The problems that TRIN has are the characteristics that attracted me ....cash rich...steady, boring. Most aim oil investors are in it for the big hit, the sudden spike when the big gusher is hit and it is not going to happen here.
pavey ark
17/10/2019
18:26
Malcys words are proven over the last two years to be as useless as Whitmam Howards 32p forecast that they keep spouting through the months n years. hahahahahah come on..id listen to Homer Simpson on Trin before Malcy or WH. Experts, dont make me laff!!
princebuster2
17/10/2019
17:38
go - well argued post - arrived at a broadly similar conclusion last year.
mount teide
17/10/2019
17:11
"Ludicrous"...Ludicrous means "compelling anyone into buying". Come on Malcy, how many have you ACTUALLY purchased if the price is ludicrous and you won't bet against the proposition?? Some analysis: Trin targeted 10% yoy growth in frequent documents and placing guidance to shareholders. 2017 2519 bopd 2018 2871 bopd (14% yoy growth) To meet 2018 target they needed to hit 2771 bopd (they exceeded it comfortably) How much above 2771 bopd is a further 10% yoy growth? 3048 bopd In order to hit their target 10% yoy growth for 2019 then overall production needs to be there at 3048 bopd (ALLOWING for the fact that they exceeded it last year...hardly fair to make this extra 4% a rod for their backs). We know that Q1 to Q3 of this year looks as follows: 3020, 2996, 2816...So this makes Q4 need to be a flat rate of 3360 across the quarter: a tall order but doable! I wrote a few days ago and pointed out some factors: a company doing all it can and operating as best as possible, a fiscal regime that does not leave enough for that company, running to stand still, oil fields that don't match the fiscal regime, AIM shareholders left with concerning conclusions (company indifference / poor publicity OR bad numbers) and POO. AIM shareholders have not been treated poorly...there was just nothing to hint at. So what is wrong here? Interestingly, the Q4 production last year was 3205 bopd...so, within 9 months and after extensive drilling capex to get it there and maintain it(and facing some normal factors that seem to crop up in this quarter) they are (albeit shortly) back at 2816 bopd (with some unspecified extra inventory yet counted in). What does that tell EVERYONE invested in Trinidad shares about decline rates: new wells and old? Not satisfactory but not unusual. A fiscal regime that is indifferent to the fact that oil is PINNED in the worst possible place for Trin Oilers: can you imagine if this tax was 100% allowable against drilling capex (as lobbied by trin), what would have happened? Circa $15 mln would have been put into drilling new wells ON TOP OF what is being put in currently. Where would that have output? Answer: >>10% yoy as guided and a company healthily growing. And when I say growing, I mean growing for shareholders and govt alike...profits, bopd, dividends, expansion, Royalites, ORR, property taxes etc and new stealth PPT of 12.5%. I think I have always been harsh on the opaque nature of Trin's communication but the more I come to understand it the more I get that they have nothing particularly stellar to say because they are so hamstrung, particularly in this perverse oil environment that hits them so hard. So to counterbalance Malcy, Ludicrous, yes...ludicrous fiscal regime...ludicrous, yes...shortsighted politicians. Ludicrous, yes...inaction while the price of oil is hammering your country's oilers and doing nothing about it. Ludicrous, yes...thinking your oil fields can sustain the fiscal implications. Not so ludicrous market pricing when all the "current" factors are considered .
gabrieloak
17/10/2019
16:11
Brief conversation today. HAW performing well above average vertical well . Will be extended as and when appropriate to selective other wells. Same with Scads. Second well only started producing late August.Well 3 not included as stated in rns. 4/5 and 6 to follow. Further drilling Q1 2020. 3,400 at year end to be expected and is pretty darned good. Not been that high in 6 yrs. Trinity happy with the Way they are proceeding but of course not with share price.I have further questions re. hedging effect and Trients /Tgal etc for Monday. Share price is in Malcy’s words “ ludicrous”. That’s AIM.As I say at times like tgis ...what a buying opportunity. I bought at 1.49p Jan 2016 when all else were selling. I persuaded another holder to do the same. To me this is another of those times where sentiment allows the opportunity. End
nocents
17/10/2019
15:15
Bought 25,000 again today. The only slight issue in the RNS was the weather during Q3 causing shutdowns. They are still optimising the HAW well. We should have a better idea of where we stand with it during the upcoming presentations. The cash reduction was expected as we are perusing a heavy investment programme. I'm done topping up. Won't buy anymore until we have a clear path above 12p or unless the shares fall dramatically! For now I'm happy to sit & watch this play out.
oilinvestoral
17/10/2019
11:40
Trinity Exploration & Production A 3rd quarter operational update from Trinity this morning which shows a return to drilling, four new wells in the period including the first High Angle Well which was in line with expectations. Of these two came on production in the quarter, one just after and one is imminent. Two further wells are to be spudded in the programme this quarter. The 3rd Q showed some modest production issues such as weather related electrical supply disruption as well as bottle necks occurring due to rig certification which has now been cleared. Accordingly the base production at the year end is expected to be some 3,400 bopd. The company described the new pilot SCADA system in some detail at the recent results presentation, its technology looks to be groundbreaking and TRIN say that they have seen a ‘material production increase’ and a more extensive roll out of the programme is being planned for the coming months. Also the technical and commercial discussions relating to Galeota are continuing with various energy related ministries and Heritage and technical partners. TRIN has cash of $15.6m in the balance sheet, down slightly due to drilling capex but I expect the company to be free cash flow generating for the longer term. A further hedge was put in place when oil prices spiked after the drone attack on Saudi Arabia which seems eminently sensible and which partially mitigates the effect of SPT. Trinity remains in a very strong position, Chairman Bruce Dingwall says ‘we continue to focus on increasing our low-cost high margin production including using new technologies to maximise returns and move forward as a free cash flow generating business with significant upside potential.’ With the share price offering change from 10p a share, the value in this business is incredible and the discount to my target price is simply ludicrous, one way or another investors must realise that Bruce Dingwall has experience in delivering value for shareholders and I for one would not bet against him doing it again with Trinity. Https://www.malcysblog.com/2019/10/oil-price-trinity-premier-petro-matad-and-finally/
spellbrook
17/10/2019
11:27
Slice. You will have to wait a while to do so. But I am a great believer in addressing grievancrs directly. I hope you get the opportunity and actually do it. More people should. But I agree fully with Pavey Ark’s analysis.
nocents
17/10/2019
11:16
Pavey Ark. Much appreciated comment. 6 yr holder here. Glad you wisely purchased and are on board.
nocents
17/10/2019
11:01
I thought that the results were certainly positive and I added. These results show a very steady increase in production and a management doing exactly what they said they would do. Anyone disappointed in these results may not have been paying attention. The recent well results and the new Weatherford kit are very encouraging.
pavey ark
17/10/2019
10:22
Bruce needs to realise that his massive salary rise was a slap in the face to employees as well as shareholders, to me it says a lot about the individual. It has stopped me buying more until I have a chance to put the question to him personally.
slicethepie
17/10/2019
10:14
Anyone with anything positive to share?
nocents
17/10/2019
10:04
Why bother with nice salary and LTIP 2 yrs off. Ain’t gonna happen. To instil confidence there should be a plethora of directors buying. I wonder what their selling points will be Oct 23rd presentation et al??
nocents
17/10/2019
09:38
Agree with the other sentiment really, seems high but bang in line with peers and there are far higher paid directors in other smaller companies. Rather than see lower salaries, I would like to see a higher market cap :-)Would like to see Jeremy increase his holding at this price though......
otemple3
17/10/2019
09:30
Pavey Ark.You put it well. It doesn’t help to harp on about pay. It’s not going to change. Nor will talking about it help Trinity move on. Like it or not it just is. Look at the pay of other companies and you will see the same. Wrong but just the way the world goes round.
nocents
17/10/2019
09:18
vh, these are over inflated but absolutely average salaries. Almost all senior managers are vastly overpaid but you knew that already.
pavey ark
17/10/2019
09:08
A genuine question (I have no pos'n here) ... How do investors feel about Dingwall and Bridglalsingh's combined salaries of $600k p.a., given the mkt cap of £37.4m? Dingwall owns a declarable stake with 3.5%, but Bridglalsingh's is 0.54%.
value hound
Chat Pages: 602  601  600  599  598  597  596  595  594  593  592  591  Older
Your Recent History
LSE
TRIN
Trinity Ex..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20191018 05:54:33