Trinity Exploration & Pr... Share Discussion Threads

[wingspan] 31/1/2018 10:15

Trin team over seeing institutions late Feb.

[wingspan] 31/1/2018 10:13

Re Malcy...don’t hold your breath...Trin won’t pay for the coverage. How do you think he earns a living?

Concerning Trin update...expect mid March

[mark10101] 31/1/2018 09:59

WITJ, I agree, I was not advocating an RNS every month to placate the insecure. Better communication has been needed in the past but with the condition the company is in now and a small amount or research you can find more than enough information on which to make an investment decision. Also we do get significant news every month anyway, that is we are approx $2m profit better off than the beginning of January.

The company is correct in their stance and professionalism. I am sure there will be plenty of news they have to RNS in the coming months.

[whiskeyinthejar] 31/1/2018 09:46

Mark they can't put out an RNS which isn't particularly material just to boost the share price. It wouldn't really look that professional, would it, and investors are suspicious of companies who try to pump their story. It can backfire.

What should happen IMO between updates with quality companies is that people should see it as an opportunity to top up or buy in. Buyers need to be convinced the won't get a better price by waiting. I think anyone looking at chart should see that there was a long period of falling troughs, but now chart looks bullish , ready to break through 20p so nothing to gain by waiting.

Anyway, Malcy updated his Bucket last year on Feb 1st, so we might get some publicity from him tomorrow?

[mark10101] 31/1/2018 07:30

Nafnaf, it is their own making, because of the way they have played it they have stifled interest. The only people left are the long term holders which have been following the story and know what the financials are doing in the background. Also the companies reluctance to maintain regular communication also impacts performance, AIM needs at least 1 update/possitive news a month to keep upward momentum. This is not a problem for me/us now we know TRIN is thriving in the background, I will be looking again today as I still believe with the outlook for Oil and TRiN 15p is a bigger gift than the 7p you could buy at relisitng.

[nafafa] 30/1/2018 23:07

Many false dawns with Trin, mms must be desperately short of stock and so their reluctance to mark up the price. I was offered 15.85p for 60,000 this pm against advertised offer of 15.55p. I think the pool of available stock continues to shrink as long term investers pick up additional shares at this crazy price level.

[bones] 30/1/2018 14:37

I think the quarterly production update must follow within the next two weeks? I think they followed this timetable prior to running into trouble with Citibank when their efforts were diverted elsewhere.

It has to be in TRIN's interest to get the latest data out there ASAP?

I've picked up a decent slug today at 16.32p in anticipation that we are ready to spring forth.....

[mark10101] 30/1/2018 13:05

If you have an interest in the oil price, this is well worth a read. Follow through to the source paper. I have have read their last 4 QRT’s and they have been right so far. It is why I am so bullish on oil. Some of the figures are staggering, the oil market and certainly oil companies are a long way from catching up with our present situation.

[mark10101] 30/1/2018 10:09

16.41 paid, looks like things may start moving in the right direction today.

[shrewdmole] 30/1/2018 10:05

Spell

Now peel aren't even putting themselves on the bid side of the book!

S

[spellbrook] 30/1/2018 09:55

can sell 175,000 at 15.86

can buy at 16.09

[shrewdmole] 30/1/2018 09:51

Mark

Absolute screaming signal that someone wants stock and quick is that peel are on the bid at MARKET price.

Usually that's a pi slapping a market bid on at the auction but they are sat there soaking it all up!!

S

[mark10101] 30/1/2018 08:08

Interesting start to the day, managed to get an UT seconds into the open....

[mark10101] 29/1/2018 20:22

Excellent, only $3.90 WTI/Brent differential. With the US exporting in reasonable quantities now it makes sense the differential closes but has taken a while.

[ffp] 28/1/2018 16:28

Average is the past, we must be more interested in the now, hence WiTJ:
That would put December production at 2,900 bopd and current production at around 3000 bopd.

Better reading...

[whiskeyinthejar] 28/1/2018 15:54

wwick, I don't want you to be disappointed. IMO current production has hit 3000 bopd, but I think average production for 2017 will miss the 2,600 target because of the tropical storm in July.

August production was 2,609 bopd, but average for Q3 was 2,506 -so I'd say the storm in July has pulled the Q3 number down quite a bit.

The market will be more interested in 2018 production anyway. Trinity added 150 bopd August to October (2,754 bopd). Work program is extensive, varied and continuous so I think it's reasonable to expect production growth to continue at same rate. ie add 150 bopd every two months. That would put December production at 2,900 bopd and current production at around 3000 bopd.

[wwick] 28/1/2018 10:47

Production, what we know for 2017:
“H1 average 2,397”
“average production of 2,609 bopd in August 2017”
“enable the lower end of the initial production guidance (2,600-2,800 average bopd for 2017) to be achieved”
Engage brain, to hit the lower end (2,600) of the 2017 target with a H1 actual of 2,397, H2 must average 2,810 ((H1 2,397 + H2 2,810)/2 = 2,600). Got it!
Right, next step, we also know that August was 2,609. So, if the average for H2 is 2,810 and the start of H2 was 2,609, then the end of H2 must be 3,000 ((H2 Aug 2,609 + H2 Dec 3,000)/2 = 2,600). Got it!
Is there anyone who can find a hole in this, we are currently at 3,000 bopd

[wwick] 28/1/2018 10:21

WTI. I note Whitman Howard's model uses WTI @ $53 for 2018, @ $57 for 2019. Also, consider reflecting on the TRIN presentation 25 Sep 2017. Page 13 shows 30 RCP's in H2 2017, now flick to page 9 and think how WTI pricing is having a positive effect on these metrics. From the table on page 9 NPV & IRR may now be double and Payback halved. All good!

[mark10101] 27/1/2018 22:40

Yes, game changer, TRIN was relisted in a position to do well and get on top of it’s financials at $40 oil. At $66 it has come at just the right time.

[spellbrook] 27/1/2018 21:06

Bruce and the bod could never have believed that wti would be this high , must be so many scenarios going around in their heads......

February will be so, so , so interesting imo....

[mark10101] 26/1/2018 17:33

WTI/Brent spread closing nicely.

[astorcourt] 26/1/2018 16:32

and it will close at 16.25p

[mark10101] 26/1/2018 16:16

$66 reclaimed.

[mark10101] 26/1/2018 13:16

Hopefully we won’t need any hedges going forward. Most companies have hedged around $50, I think the frackers have at least 30% hedged. It is one of the reason why the price of oil will rise. It is proabaly also why there was so much doom and gloom in financial the press regarding oil being lower for longer (never happens) it was so the banks could take the other side of the trade and make a mint.

I think it was prudent of the company to take out the hedges as if it was lower for longer it would see us pay off the debt and move forward. I would still rather get 75% of our oil at this higher price and lose a little on the 25% collar than need the hedge. My understanding is the other hedge was a one off cost already accounted for so it can be ignored.

[spellbrook] 26/1/2018 12:55

BRUCE will need to up the next ‘zero cost collar’........


Trinity Exploration & Production PLC (LON:TRIN) told investors that it has taken advantage of the improved oil price to further hedge its exposure for 2018.

The company said in a statement it has entered into a for some 25,000 barrels of oil per month, with a price floor (for WTI crude) set at US$45 per barrel and a cap of US$59.80 per barrel.

READ: Trinity Exploration & Production welcomes “good news” Trinidad tax plans
An existing hedge - put options covering 31,645 barrels a month with a WTI strike price of US$40 per barrel – will remain in place until March 31 2018.

Trinity noted that the combined effect of both hedges in the first quarter of the year will significantly mitigate the downside exposure to the oil price when drilling starts.

“The recent improvement in the oil price has provided an attractive opportunity to further hedge our oil price exposure for 2018,” said Bruce Dingwall, Trinity executive chairman.

“The zero cost collar structure optimizes the amount of capital that can be allocated to exploiting our significant reserves whilst meeting our ongoing financial obligations."

Third quarter review
Separately, in its third quarter review, the company highlighted that it has built on its momentum by continuing to grow production profitably.

Statistics for the third quarter showed a 7.4% increase in production, to 2,506 barrels of oil per day, thanks to the implementation of the programme of recompletions, workovers, reactivations and swabbing in existing wells.

The company ended September 30 with a cash balance of US$12.3mln.

Dingwall added: “As a board, we have continued to maintain financial discipline on our capital spend and operating costs during the period.

“Our focus on the low hanging fruit, through our recompletion, reactivation, swabbing and workover programme has resulted in a 7.4% quarter-on-quarter increase in production and we anticipate further growth in production and profitability during the remainder of the year."