Trinity Exploration & Pr... Share Discussion Threads

[bountyhunter] 23/7/2018 14:47

yes I realise advfn figures can be out of date but with -14m(TXP) vs +12m(TRIN) cash the point still stands;
thanks for posting the up to date figures; I'm happy enough to continue to hold here

[marvelman] 23/7/2018 14:11

Firsr qtr accounts said 14 million Bounty...ADVFN's numbers can never be relied on....and paying 8% interest I believe. However, Trinity have no debt and therefore no interest charges and a growing cash pile currently at circa 12 million. In any case I do not understand why stated current investors continue to push TXP over TRIN...I do hold TXP for the record but prefer the here and now over the possible and probable.

[diseasex] 23/7/2018 14:01

If oil grows and no disaster I think we will be good,

In a period of improving oil prices and with continued, robust break-evens (2017: US$30.9/bbl), Trinity's focus is on enhancing shareholder value by increasing production across a largely fixed operating cost base to deliver a further step-change in operating earnings (2017: US$11.0m up 77% on 2016: US$6.2m).
so earnings rose 77% for 2016 vs 2017. let's continue growing

[bountyhunter] 23/7/2018 13:44

but TXP have 22.86m debt which is about the same as their market cap

[diseasex] 23/7/2018 13:08

meanwhile txp valued at £22mil is aimming to achieve 2000 bbl/day this year.

[mount teide] 23/7/2018 11:28

At the current oil price - the T&T onshore producers will almost certainly be getting much more bang for their investment buck from infill drilling than through acquisitions - since with oil more than doubling from the Feb 2016 lows the days of 'cheap' oil and gas industry assets are now increasingly in the rear view mirror!

[whiskeyinthejar] 23/7/2018 10:46

The idea isn't really to grow the balance sheet- Trinity are going to re-invest everything back into growing production. They could drill faster, especially if oil price stays above $60. At $60, there's $10m set aside after fundraising for 'working capital and further opportunities' but the more they drill the less cash they'll have for aquisitions.

[diseasex] 23/7/2018 10:23

Indeed, I feel like I overpaid.
I bought this stock with sighs of growing balance sheet. but they burned 1m a month in q1 after all this rally on oil. Hmmm...

[mount teide] 23/7/2018 09:59

WITJ "They've signed new drilling contract for 6 wells in H2"

NO - what they have signed is a contract for "an initial programme of six new onshore infill wells to COMMENCE during H2 2018"

If they started the drilling programme with the first well in Q/4 2018 - they would comply with that statement.

Considering they recently said 10 wells by end of 2019 - if they did 1-2 in 2018, 4-5 in H/1 2019 - that would leave 4 during H2/2019.


I suspect this is going to be much closer to reality!

While good news it is unlikely to put a bonfire under the share-price in the short term considering the m/c is already £66m.

[whiskeyinthejar] 23/7/2018 09:36

I doubt they signed 6 well program until after fundraising. But they had two drills in Q2 and had to do repairs on two offshore wells.

[diseasex] 23/7/2018 09:28

Drilling contract signed for the initial six well campaign. Maybe this ?

[sleveen] 23/7/2018 09:28

As has often been said. The financial reality is often different to bulletin boards expectations

[mustbefunny] 23/7/2018 09:21

Would have good if the statement had explained the cash drop rather than leaving it open to speculation. Will have to wait till results in September to find out

[diseasex] 23/7/2018 09:09

Cashflow positive 2020 , means no profit for another 1.5 year , if things go well

[lw425] 23/7/2018 08:57

That's what I don't understand. The bulls say this company already made consistent monthly profits.

[diseasex] 23/7/2018 08:50

Cash balance of US$9.1 million (unaudited) as at 30 June 2018 (31 March 2018: US$12.2 million)
Aby idea where they burmed 3 milion?

[spellbrook] 23/7/2018 07:58

Trinity’s dedicated subsurface teams working up incremental locations for future drilling, work which facilitated an increase on onshore 2P reserves (+50% to 5.98 mmstb) and the commencement of infill drilling in H1 2018

[pinkfoot2] 23/7/2018 07:50

Good ,solid update-no dramas.Well done

[imjustdandy] 23/7/2018 07:46

Back towards 20p in no time.

[whiskeyinthejar] 23/7/2018 07:28

They've signed new drilling contract for 6 wells in H2.

Production up 4% on Q1, despite:
"Production levels during Q2 2018 were impacted by equipment and maintenance issues on two key offshore wells (both now back on production)"

Q3 should be even better then.

[imjustdandy] 23/7/2018 07:26

It's a real step change. Growth, acquisitions and cash generation on a debt free balance sheet.

[mark10101] 23/7/2018 07:22

As per my earlier posts, very happy with accelerated drilling, however below is where the most value will be created.

“as we move forward debt free and ideally positioned to take advantage of future opportunities as the environment in Trinidad & Tobago evolves”

[imjustdandy] 23/7/2018 07:08

8-10 new wells per year. Stunning.

[deeppockets] 23/7/2018 07:07

Solid update. No bad surprises.