Trinity Exploration & Pr... Share Discussion Threads

[uapatel] 29/10/2017 21:49

wwick, yes there is the sharesoc event on the 8th. Don’t have any details though.

[mark10101] 29/10/2017 21:48

ShareSoc event on 08 November 2017

[wwick] 29/10/2017 21:34

Hi, Isn't there another upcoming event following 121?

[che7win] 29/10/2017 21:03

Thanks wwick,
I see they are presenting tomorrow afternoon, 15:20

[uapatel] 29/10/2017 21:00

wwick,

Many thanks for posting the information

[wwick] 29/10/2017 20:53

Investors like to see that management have “skin in the game”. Tell us briefly about your management team’s investment in the business.

The Board and Management own c24% of Trinity, as such their behaviour is aligned exactly with that of maximising shareholder value.

Trinity has significant profitable production, reserves and resources within its portfolio that the market is yet to reflect in its valuation. The balance sheet and income statement continue to strengthen as a close eye is kept on the underlying fundamentals of reducing debt and managing the cost structure.

[wwick] 29/10/2017 20:52

What is your main aim in coming to the 121 Oil & Gas Investment conference?

The Company has positioned itself as a local oil producer of scale in Trinidad and has created the infrastructure for prolonged low cost profitable production in a politically stable environment. The Company retains a strong asset base and balance sheet following the restructuring in January. The Company has strong positive cashflow, a low cost asset base and a strong management team which is keen to introduce the story to a wider investment community.

[wwick] 29/10/2017 20:52

What do you see as the key risks and challenges your company facing at the moment and how are you overcoming these?

The oil price remains the main factor as far as profitability but Company has established itself as a low cost operator and as such will still be economic at prices below $30/bbl.

[wwick] 29/10/2017 20:52

What is the focus of your management team for the next 12 months, and what are the key milestones you are looking to reach that you think will add value to the business?

The Company is focused on growing production to an initial run rate of 3,000 bopd from current levels. It has a well thought out work programme planned for H2 2017 and is focused on ramping up activity whilst delivering a step-change in financial performance. It is focused on continuing its successful well re- completion (RCP) programme while accelerating workovers, swabbing and well reactivation programme.

[wwick] 29/10/2017 20:51

Tell us a little about you and your team’s background and any career highlights so far.

Bruce and the Leadership team firmly believe that operations on the ground should be led by a strong team of Trinidad nationals that understand their environment. Our team comes from backgrounds as diverse as law, engineering, sub surface and accounting and from organisations such as BP,PwC, Schlumberger and the Government of Trinidad and Tobago. This approach is the correct one in the modern era and when coupled to a good asset base and strong financial controls leads to differentiated and profitable 'local' business.

[wwick] 29/10/2017 20:50

Trinity Exploration & Production – Management Interview -

[spellbrook] 28/10/2017 07:58

Morgan Stanley: Oil Stocks Are Very Interesting Now

By Tsvetana Paraskova - Oct 27, 2017, 6:00 PM CDT

[leontitcombe] 27/10/2017 23:39

Great post witj

[mark10101] 27/10/2017 22:05

Knocked and burst through.

[croasdalelfc] 27/10/2017 20:40

Wti knocking on $54

[mark10101] 27/10/2017 20:06

I think it is possible our new arriver was helping an order being filled around 18p. Very much like the 8p brigade that facilitated somone to load up at 11p. I am personally very happy to hold TRIN over the weekend with WTI knocking on the door of $54 and Trinity about to start it’s biggest PR push since inception.

[the big fella] 27/10/2017 19:29

WITJ - excellent posts as always.

[wingspan] 27/10/2017 15:58

Thanks Whiskey - really helpful.

[whiskeyinthejar] 27/10/2017 15:31

Trinity have plenty of cash. The presentation is a bit conservative because they want to demonstrate their low risk credentials.

They'll average more than 2500 bopd this year, as in August they were already at 2600 bopd. Break even is now $28 and WTI has done better than $45 every month this year. It should average above $50 this year:



They also have cash in bank- $11.5m at end of H1. And $4.5m from asset sale to come.

More interestingly, we don't yet have a target for next year. With largely fixed costs, adding additional barrels gives an outsized cash boost.

I have in my notes that netback at 3,400 bopd and $50 would be $21m. I'll need to check that though.

I think they can easily average 3,600 bopd next year and wti should average about $55.

[fsawatcher] 27/10/2017 13:06

Dont paste very well but it from prsentation

Gross revs about $37m

they got more costs to come out with G&A

i doubt they make more than $10m per year free cash flows

this share price not goin higher than 21p while they doin 2600 bpd

it chance of 30p if they do 3000 bpd

it not bad but it look like they need more fundin to drill new wells to get higher than 3k bpd

Indicative Production Economics
@ US$45/bbl WTI
11
ECONOMICS @ US$45/
bbl
WTI
Production Scenario
2,500
bopd
3,000
bopd
Operating netback
$9.0/
bbl
$12.2/
bbl
Royalties*
$12.2/
bbl
$12.2/
bbl
Operating costs*
$19.4/
bbl
$16.2/
bbl
Assumed disc. to
WTI
$4.5/
bbl
$4.5/
bbl
Indicative Annualised
2,500
bopd
3,000
bopd
Produced Volumes (
bbls
)
912,500
1,095,000
Implied Gross Revenues
$37.0mm
$44.3mm
Implied
Operating Netback
$8.2mm
$13.3mm

[che7win] 27/10/2017 08:55

hur - I don't like North sea assets, prefer here.