Trinity Exploration & Pr... Share Discussion Threads

[fsawatcher] 14/11/2017 10:45

i leave you all now but i keep eye on some posters here coz they not tellin yous the truth

i fink trin do well in h2 2018 so not basher jus not fink it worth more than 14p for 2017 cash flows

[fsawatcher] 14/11/2017 10:43

i jus read zengas post on valuation of trin

anyone seen him lately?

i fink he better explain why his figures are so wrong

why trin not makin much money and jus payin off debt

why cash balance not grow

[fsawatcher] 14/11/2017 10:40

whisky in the jar - you being disengenious and not tell truth

you know cash pile was $13m at end of Feb coz company tell ya. You know that it came from placin money not company sales or growth

you best admit truth or peeps goin to look at you as not trust worthy poster

Following the successful fundraising completed in January 2017, and payments of creditor settlements, cash balances at the end of February 2017 had increased to USD 13.0 million

[fsawatcher] 14/11/2017 10:37

Following the successful fundraising completed in January 2017, and payments of creditor settlements, cash balances at the end of February 2017 had increased to USD 13.0 million


if i really wanted to bash this stock i jus tell peeps to look at all the dilution hidden in options and warrant

it mucky business when you comes back from the dead innit?

so much stock given away in th 4p range it no surprise to see large sellers

i fink they goin to do a cash raise to help speed up ops coz they jus about coverin debt payments and that all

[fsawatcher] 14/11/2017 10:31

soupdragon

you bein a very bad person there coz you miss the placin cash out

why you try hidin the truth from peeps

that why i took cash balance of $13m in Feb 2017 after placin

i am bein fair and not skew numbers like you

i not basher jus sayin they spent $27m in cash 2017 but all they got is 500bopd extra and pay 2 debt payments of $1.3m each

that it for $25m spend??

they not makin much money from $25m spent are they

[whiskeyinthejar] 14/11/2017 09:54

Trinity only had $6.8m cash after restructuring at end of January (slide 19). They grew that to $12.3m at end of September.

[mark10101] 14/11/2017 09:15

FSA, the cash balance can be deceiving, for example as you say lots of bills may have been paid and we don’t know our payment terms for when we get paid by Petrotrin, it may be lumpy and it may come in after these numbers were run. You make some interesting points but it is tricky to focus on just one number.

We are told operating breakeven is $29 including G&A, we are repeatedly told we are profitable in the current environment, even with the spend we have on improving infrastructure as well as the spend on increasing production. Few AIM oilers have TRINS assets/production and even fewer are even making $1 profit. I am happy to see how things develop here.

[soupdragon55] 14/11/2017 09:04

From the Half Year results. The beginning of H1 was Jan 2017.

Opening Cash Balance

Trinity began the year with an initial cash balance of USD 7.6 million (2016: USD 8.2 million).


From yesterdays RNS (end of Q3, 9 months after the beginning of the financial year for JOG)

-- Cash balance of US$ 12.3 million as at 30 September 2017

So the 9 months of 2017 they have increased cash by $4.7m

Yes they have been paying creditors, but once those are all done then they make more. Simple really.

[fsawatcher] 14/11/2017 08:59

i take you word on the hedges for march 2018

hedges past that look better

but peeps gotta understand that this company been spendin lotta cash

they sell 650k barrels over 9 month and the cash pile drop 700k?

do peeps know if capex is front loaded or is this cost of production for ever

they gonna ave to do 3k+ before make any proper money

like i say h2 2018 when debt paid off look better but does production keep fallin and need toppin up at $30m a year investment

[spellbrook] 14/11/2017 01:50

"We anticipate further growth in production and profitability during the remainder of the year," executive chairman Bruce A. I. Dingwall said.

[nafafa] 14/11/2017 00:04

Schroeders have also recently backed CERP! After a change of name and new management perhaps that will prove to be a good investment, but for me nothing like as appealing as Trin

[timw3] 13/11/2017 23:12

O/t Schroders and L&G coming onboard in JOG as per after hours RNS.. Think i will need to start reloading here on the back of them two big guns buying.

[mark10101] 13/11/2017 21:34

Bones I agree re the collar deal, after March 18 when we hopefully have drilled some new wells, the production from the new wells will go some way to covering the collar deal on their own. If they have hopefully under played the potential of each new well.

[bones] 13/11/2017 21:25

Just a couple of basic observations from today's updates.1. It covered Q3 to end Sept. the WTI price bumped around in the 40's for most of that quarter hitting a low of $42 early on before recovering to end the quarter at $52. Average looks to have been in the $48 area for the three months. So far in Q4, WTI average has been around $53 and is in a rising trend so far, currently close to $57. With a much higher average than Q3 prices multiplied by a higher BOPD which could average 2,800 for the quarter vs 2,550 for Q3, this should give 2017 numbers a big kick finish.2. The new hedges in place for 2018 refer to a collar for WTI from $45 to $59.80. The focus has all been on the upside limitation of that. However, the release refers to 25k barrels per month. At 2,800 barrels per day minimum, that is production of well over 80,000 which suggests the hedge only covers 30% of output. I would best describe that as insurance at the extremes but no restriction on making excellent profits in a high price environment should WTI forge ahead.

[wwick] 13/11/2017 19:47

What wingspan said...

[wingspan] 13/11/2017 18:22

FSA...I can confirm NAF’s point. Hedge price should be taken off the purchase of the option...nothing else is lost above 40 dollars. To use your logic: if things look worse because of the issue you raised, then they look better if you are wrong about that issue. You were wrong so it looks better (and you are wrong because you are being too selective in how you look at the business, particularly around fixed costs and volumes produced). Your logic holds good for the latest hedge announced today, but not for the one you are citing. I know the company is looking forward to getting this year out of the way as the turnaround year after a horrible year. Each milestone they get to shows the management making good, and well articulated, decisions.

[mark10101] 13/11/2017 17:05

No fireworks for the pumpers but hopefully a steady rise from here.

[whiskeyinthejar] 13/11/2017 16:58

Malcy...

Trinity Exploration & Production

The good news from Trinity just keeps on coming. With today’s Q3 operational update we get a continuation of the increase in profitable production and further strengthening of the balance sheet where there is cash of $12.3m. Production wise the quarterly rise is 7.4% to 2,506 b/d with all the usual methods delivering the goods. Recompletions, workovers, reactivations and swabbing have provided all this with not an exploration well in sight, yet. Indeed we can expect more as the October figure was 2,754 b/d making the current quarter look potentially better again.

Trinity remain highly disciplined on costs, every time I meet Bruce or Jeremy some poor supplier has taken a hit and they are also hedging through a zero cost collar structure to protect some of the downside. The way that the Trinity team have gone about restructuring the company is as good as i’ve seen lately and this is paying off in a big way. As Bruce Dingwall said recently the company pride themselves on genuinely profitable barrels with some of the lowest net costs in the sector which is why they are looking so good now.

[nafafa] 13/11/2017 16:23

Fsa, my understanding is that the existing hedge was put in place to protect in circumstances whwere oil price falls below $40, which it did, I don't believe under that hedge that Trin are required to give up the margin on a third of production when the price is over $40, though I am happy to be corrected if wrong

[glennborthwick] 13/11/2017 16:05

you seem to have conveniently forgot what they did with the money to sort out the wells ;



Look for its lowest point now back up over 12 million

Hardly rocket science is it.

[fsawatcher] 13/11/2017 16:01

nuffin disinxxxnmmmmm about it

the cash was balance after placin and before debt payment

that best to compare against

$13m

becomes $12.3m today

not good readin is it

it dont matter if they burn lodda cash in H1

wot matters is what they have cash balance

it aint tough to see it ain makin profits after 9 month tradin in 2017

next 3 month dont look any better coz $40pb hedges of 33% production run till march 2018

[mark10101] 13/11/2017 15:48

Nafafa, $29 is operating breakeven including G&A for all assets, onshore is $16. When we sell the West Coast assets it will improve our breakeven considerably. I believe in 2016 the West Coast assets lost $4m so loosing it will help the balance sheet considerably.

[esmerelda] 13/11/2017 15:45

The problem with posters like FAwatcher is the they are disingenuous with their selection of dates. Why go back to February when the last production and financial details were in the half year report? That had H1 production averaging 2,400 bopd and cash balance at end of June was $11.5m. Now in October we are told output is 2,750 bopd and cash balance is $12.3m.

So let's see now, since end-June cash balance UP $0.8m and production UP 350 bopd. Yep FAwatcher, thought you was having trouble with your adding. It's all right now.