Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 21/8/2018 22:14

og1, you must remember $31 is the breakeven cost but royalties are taken from the differential also. On top of this the SPT is a drag when oil is above $50. If this was to be reformed as is expected this will be a massive lift for TRIN.

[oilandgas1] 21/8/2018 20:27

Exactly..

2871bopd jul18 at WTI 65$ less costs of 31$pb

So 2871 x31 days x (65-31)= 3.026m approx

[diseasex] 21/8/2018 17:18

oil price minus costs

[charlieej] 21/8/2018 16:59

Where do you get the 3m monthly FCF figure from?

[oilandgas1] 21/8/2018 13:26

Debt free and cash at hand with FCF of 3m+ pcm..

Anybody know the latest on the drilling programme?

H2 Drilling programme 12 wells for 10m out of 21m over 18 months
Capex 5-7m ( paid for by Aug18)
accelerating the onshore infill drilling programme.

[mark10101] 20/8/2018 21:54

Thanks SB, I totally agree with Malcy on that one. It won’t be long before the market wakes up to TRIN. The Autumn should be a lot more pleasant than the summer for shareholders.

[diseasex] 16/8/2018 16:47

maybe he was selling before he received subscription. after subscription he sold some more to be around 4.10% again. why isn't he writing here to tell us? xD

[the big fella] 16/8/2018 16:23

But he actually has more shares. So either the last notification was wrong or he has bought a few more since 27/7.

[diseasex] 16/8/2018 16:18

perhaps he just needed for coke and hookers?

[ffp] 16/8/2018 16:05

Perhaps he had just received his wife's credit card bill??

[diseasex] 16/8/2018 15:33

no that was info on the day of the placing.

[spellbrook] 16/8/2018 15:14

Everyone’s % is lower as there are now more shares

[diseasex] 16/8/2018 14:23

I dont get it. This guy Jan-Dirk Lueders on 27th had 4.63% and sold down to 4.1%. today he sold again from 4.63% to 4.19%
wtf?

[diseasex] 16/8/2018 10:38

we are in bear market , no denying that. Turkey , Trump trade war, oil falling. Given all that Trin shares seem to be holding up well so far thanks to strong shareholders hands.
thats my analysis published on advfn 16.08.2018
:P

[whiskeyinthejar] 16/8/2018 10:22

Happily I was too pessimistic then:

"Trinity has already got to work on the drilling programme with the construction of locations undress for 4 new wells as part of a 6 well campaign which will make 8 for the year. "

But I agree with Mark and SB - I think Galeota and new deals are the main show.

[spellbrook] 16/8/2018 09:23

Trinity Exploration & Production

Trinity has announced that following repayment of government debt a couple of weeks ago and now repaying the CLN it is debt free. Given the problems Trinity has faced this is a quite remarkable achievement. The company are now in the rare position for an Aim E&P of being debt free, cash in hand and with what is now one of the lowest G&A’s in the sector. Trinity’s model of high margin operations gives them an enviable level of profitability and considerable growth opportunities in the portfolio .

Having reorganised the finances in July Trinity has already got to work on the drilling programme with the construction of locations undress for 4 new wells as part of a 6 well campaign which will make 8 for the year. Excellent relationships with local regulatory bodies and supply chain companies has meant that this programme was initiated so quickly. Investors should not forget that the potentially game-changing Galeota field development is still being processed in the background.

Today really does mark a massive degree of progress for the company which is now primed to deliver production growth and cash flow in both short, medium and long term. With its lean cost base being less than almost anyone I know the margin will rise and so will profitability. Trinity brings together the reserves, resources and production metrics that should give it an EV premium to most in the sector and today that rerating process should begin.

[mark10101] 16/8/2018 09:16

WWICK, I continue to disagree with your view that this dilution was unfair, but as a share holder I certainly would have prefered there to be no further dilution. The element of the incentive plan you highlight I beleieve was to align with this spirit. So I totally agree that the incentive plan needs to be revisitited after this exceptional fund raise.

With cash in bank the company is well positioned to deliver shareholder value far and beyond the previous MCAP. So it should still be possible to set targets that fairly reward the shareholders and the management.


As people discuss the drill bit my focus is still heavily on the pen, and is my only way of rationalising the dramatic and substantial cash raise. We have completely paid off the T&T government ahead of THEIR schedule. This should make us a much more attractive partner going forward should any opertunities arise.

“Moving forward with a clean balance sheet and a strong inventory of growth opportunities means we look to the future with confidence and are ideally positioned to take advantage of future opportunities as the environment in Trinidad & Tobago evolves”

I am personaly very happy with the new TRIN, bring on the autumn.

[nafafa] 16/8/2018 08:49

Durian, after crude oil discount, spt and royalties I think the final profit is more like $20 a barrel on wti of $75

[wwick] 16/8/2018 08:42

TRINITY, I HAVE DRAFTED YOUR NEXT RNS: -
“Long-Term Incentive Plan – Further to the announcement on 16th August 2018, 30% of the LTIP performance targets have been met. The methods used to achieve these targets were not in the spirit of the LTIP (“further aligns their interest with shareholders”). Targets were achieved by raising capital and diluting existing shareholders. Shareholder dilution was not however equitable, giving preference to the BoD. This unequitable dilution is not in the spirit of the LTIP objective to aligns their interest with shareholders. In response, the BoD have waived the 30% of the LTIP that has been achieved through the capital raise and unequitable dilution. “

[whiskeyinthejar] 16/8/2018 08:23

I don't know Dunderheed. I don't know why they didn't already have the 3D seismic. I don't understand how it's much use to anyone else. Maybe the 3D will help them to 'know' the sites already identified more accurately. But drilling using 3D data when it's actually available sounds like a no brainer to me.

[dunderheed] 16/8/2018 08:07

Yes agree but, it will take time to assimilate the seismic hence, do not want to wait for any of this? prior to spudding already 'known' inventory.

[whiskeyinthejar] 16/8/2018 08:04

14 sites identified IIRC Dunderheed. There's also weather- they won't drill if ground is water logged. My guess is they'll wait for worst of rainy season to be over, buy the seismic study and tell us at next update they're drilling 2 or 3 wells in Q4.

[dubian99] 16/8/2018 07:56

What's the margin per barrel here,
have i got this apx right 3000bpd $40 = $120,000 pd, $43m per year