Trinity Exploration & Pr... Share Discussion Threads

[robward] 05/10/2017 08:12

Squiresquire

May I commend you on your use of that marvellous word "slovenly", I havn't seen it used for years and years !!

[wingspan] 05/10/2017 08:08

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

[squiresquire] 05/10/2017 08:06

Its seriously annoying about basic errors. They also left out the tax benefit of the 205 million and how Dingwall has completely turned this company round. No mention of the assets in Nov is really bad and failing to say how the 3000 is such a near term target for the company is just indicative of slovenly research.

[mark10101] 05/10/2017 07:53

Still a positive message but disappointing about basic errors....

[croasdalelfc] 05/10/2017 07:48

One small article - and they still can't get it right!! $56 a barrel!! The all in cost is wrong tooNo mention of the sales of assets in Nov.3000 bopd is the near term target not a 12 month target

[gersemi] 05/10/2017 07:35

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 could improve 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. 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 12-month target of 3,000 bopd.

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.

At current oil prices of around $56 per barrel Trinity should be able to deliver decent profit as the company believes it can make money above an oil price of $32.8 per barrel.

Mature oil and gas industry

Trinidad has a mature oil and gas industry. The first oil deposits 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’.

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’.

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[markth126] 05/10/2017 07:15

Can you post article as can't see All other than first para. Many thanks

[spellbrook] 05/10/2017 06:51

Could triple in value

[gersemi] 05/10/2017 05:20

Tipped in Shares mag.

[spellbrook] 04/10/2017 17:43

Another notch on the huge potential TRIN bowl formation...gla

[ny boy] 04/10/2017 17:39

Good action today, keep it up, long way to go yet, long term hold, manyvwill get mugged selling in the 10's, 20's, 30's etc

Buy & hold.. simples

[mark10101] 04/10/2017 17:09

From last week but not seen it posted. 11mins in.

[mark10101] 04/10/2017 16:42

Nice close again for TRIN, graph to me is indicating biggest move to come next.

[spellbrook] 04/10/2017 15:34

rossannan

Good luck ,

TRIN for me ticks all the boxes

Great bod,cash , reserves and making money, all very rare on aim

[spellbrook] 04/10/2017 14:38

malcys prediction on TRIn being undervalued compared to its peers may get a mention

[spellbrook] 04/10/2017 14:27

Ross only have eyes for TRIn,cash in bank and making money daily

[spellbrook] 04/10/2017 14:19

Do we reach 18.5p this week ?

[spellbrook] 04/10/2017 14:14

Looking forward to the brokers note

[ny boy] 04/10/2017 14:10

Perky in afternoon, due to some US investor interest, especially those with a connection to Trinidad

[ny boy] 04/10/2017 14:04

Quite difficult to get a good price buying more on the dips, this rise is being controlled!

[mark10101] 04/10/2017 14:04

Perkier already :-)

[woodpeckers] 04/10/2017 14:02

Afternoons seem to be the perkier times....