Trinity Exploration & Pr... Share Discussion Threads

[mirabeau] 03/9/2018 12:49

Tipped by ST in the IC

[dunderheed] 03/9/2018 12:07

Aye aye bit of an uptick?

[spellbrook] 03/9/2018 12:06

Price Targets:
Whitman Howard 32p

[mark10101] 03/9/2018 11:33

Ah sorry, that requires a little more thought!

[diseasex] 03/9/2018 11:09

No Mark, I'm asking whether anyone have any estimates what numbers to expect and to compare against.

[mark10101] 03/9/2018 09:00

Hmmm, interesting MT. I wonder if there is a link to the pulled sale of TRINS West Coast assets. Interesting times ahead.

[mount teide] 03/9/2018 08:07

T&T PM Speech on restructuring of Petrotrin yesterday evening:

'As the com­pa­ny now fo­cus­es on sig­nif­i­cant ex­pan­sion of ex­plo­ration and pro­duc­tion ac­tiv­i­;ties, this will pos­i­tive­ly im­pact the com­mu­ni­ties of the south west­ern penin­su­la. It will be a sig­nif­i­cant re-in­vig­o­ra­tion of the oil econ­o­my in these ar­eas bring­ing much new or ex­pand­ed busi­ness not just for Petrotrin but op­por­tu­ni­ties for the many ser­vice com­pa­nies which will be as­so­ci­;at­ed with this new busi­ness mod­el.

In the com­ing weeks the Gov­ern­ment will take part in the an­nounce­ment and par­tic­i­pa­tion in at least two sig­nif­i­cant in­dus­tri­al projects in the south­west­ern penin­su­la. Ini­tia­tives like these will cer­tain­ly con­tribute to the new be­gin­ning that we are work­ing to­wards.

In­creased drilling and pro­duc­tion works, both on land and off­shore, are to be ex­pect­ed in the new busi­ness mod­el.

Trinidad and To­ba­go con­sumes less than 25,000 bar­rels of re­fined prod­ucts a day (gaso­line, diesel, jet fu­el, etc.). The de­tailed eco­nom­ic analy­ses have shown that it makes far more sense for us to ex­port the 40,000 bar­rels of oil that we cur­rent­ly pro­duce and im­port the fu­el we need. The com­pa­ny will now fo­cus on in­creas­ing the pro­duc­tion of bar­rels of oil and each bar­rel will be sold ex­ter­nal­ly on the open mar­ket.'

Incredibly, Petrotrin management have not been passing on to Government the taxes they collect from other oil production companies - they have been spending(wasting) it on their own massively loss making refinery business to keep the management and employee tax payer funded gravy train running !

[mark10101] 02/9/2018 22:53

It was 25th Sept last year so I would expect around then.

[diseasex] 02/9/2018 22:37

Any educated predictions as to half year results coming ?

[mark10101] 02/9/2018 16:30

The PM addresses the T&T nation tonight 7:30 PM their time. With Petrotrin's restructuring underway it clears the way for fiscal reform.

PWC was comisioned in April to produce a report on the proposals and it was said it was going to be released in the summer. I suspect like all things government related things are taking more time than planned, but things feel iminent now.

[mark10101] 02/9/2018 16:18

SB, where was that from? I agree though. I am looking forward for the funding being put into context given the opertunities T&T may offer a debt free loyal T&T company that has spent the last 4 years dealing with historical debt derived from a poorly constructed fiscal reigime.

[spellbrook] 02/9/2018 09:12

Whitman’s top pick (M&A and new licence awards ????)


Trinity Exploration #TRIN $TRIN named a top pick by Whitman Howard, highlighting re-rating opportunities: i) A revised FDP for East Galeota ii) Possible SPT reform iii) quarterly production updates iv) M&A and new licence awards v) sale of WC assets vi) reserves upgrades

[marvelman] 02/9/2018 09:06

That last paragraph is most intriguing...and here we are in September.

[mount teide] 31/8/2018 12:25

Dunder - the answer is to shrink the state - Gordon Brown, the EU and the 400 multi nationals based in the EU's 1% corporation tax havens of Luxembourg and Ireland have collectively help made over 50% of UK taxpayers reliant on benefits and encouraged over 3 million eastern europeans minimum wage workers to come to the UK for the in-work benefits; which are on average 10 to 20 times what they pay in Tax and NI.

The EU and EURO has seen the subjugation of 500 million people by a criminal cabal of unelected, unaccountable Colonial Masters in Brussels who are mostly left wing liberals and ex communists with a new found taste for 'capitalism' - who mostly have never done a days work in the productive sector in their lives and can retire at 55 on non contributory full EU film star non-contributory pensions on which they will pay just 2% income tax for life.

Over 70% of UK constituencies voted to Leave the EU.

Which as Donald Tusk an unelected EU President with a 5 Mercedes motorcade said; "this means leaving the single market, customs union and authority of the ECJ". Indeed!

So some two years later what is the problem?

Sadly, for the leave voting majority the venal political establishment who after putting the full weight of the state behind the remain vote only to be shown the middle finger by the electorate, could not stomach that after calling the shots on the EU for 43 years the boot was now on the other foot.

What has since occurred is chapter and verse as Michael Portillo predicted the day after the referendum.

There has been a political establishment 'remainer coup' of Brexit - effectively the referendum losers have taken control - we have Remainer PM May, her hugely remainer biased cabinet, fanatical europhile Whitehall, Treasury and House of Lording it over the chavs working hand in silk glove with Barnier and Drunker - determined to contemptuously turn Brexit into BRINO at best, as punishment for the 17.4 million impudent British serfs who had the temerity to vote to take back their independence from the European political project, more commonly known as Germany's puppet the EU, and its ultra high cost single market protection racket and ultra low growth economy.

A German controlled federal superstate in the advanced stages of development, where up to 100 million dirt poor Eastern Europeans have free movement access to EU wealthy country job markets and benefit systems as minimum wage employees of the 400 Multi Nationals paying 1% corporation tax as a result of relocating to the EU’s Luxembourg and Irish tax havens, and all subsidised by the EU taxpayer; where 10-20 times the UK Tax and NI these people 'pay' is given back to them in wealthy nation housing benefit, tax credits, health and dentistry costs, children's allowance and free schooling courtesy of the UK taxpayer and small/medium sized businesses struggling under paying 20% corporation tax!

No wonder the multi nationals have 30,000 highly paid lobbyists based in Brussels at a ratio of one for every bureaucrat - and that little Brussels after recently taking over London and Milan now has the second highest number of Michelin Star restaurants in Europe only to Paris.

In 2017 one in every four EU migrants were employed in the retail, wholesale and the hospitality industries, rising to more than 40% in the food and drink processing sectors. Its far more cost effective for the 1% corporation tax paying Multi Nationals to recruit UK minimum wage, low productivity Eastern European employees earning 10 times the minimum wage back home than to invest in technology to drive up productivity.

Data mostly from the Migration Observatory at Oxford University.

Ps - many might ask what the real attraction is for Eastern Europeans to come to the UK to work in minimum wage jobs for multinationals? The housing benefit payments are so high for these workers in the South East(£500 a month for a single room in a 4/5 bedroomed house) and the benefits system administrative control so poor, that many Polish and Romanian migrant workers are quite happy to live 3-4 to a room while all claiming housing benefit for the same room. This way many in minimum wage jobs can 'save' enough just from housing benefit payments to buy a house back home outright in cash within two years! Who would't do it in their position?

[dunderheed] 31/8/2018 11:12

Good post MT, however doesn't provide answer to this burgeoning problem and not sure leaving Europe mkt now is that answer?
One thing though do not want to be part of the 'bill' when the euro does finally collapse but not sure that will be in my lifetime?

[mount teide] 31/8/2018 10:52

When a private sector company fails - the staff are lucky to get their final months salary.

When a hugely over manned public sector company which has been an enormous financial drain on the taxpayer for over a decade fails, its $billion dollar early retirement and leaving packages all round, financed by borrowing the money for which the Nation's taxpayers will be responsible for the interest and capital repayments.

A global public sector epitomised by the EU bureaucrats with their 51 days of bank holidays a year on top of their annual leave and average 59,000 Euro non contributory final salary pensions that can be taken in full at 55( a savings pot of over 2,000,000 Euros would be required for an equivalent pension in the private sector).

According to research by the Sunday Times, there are over 23,000 UK individuals with pension pots worth more than £2.5m and over 90% of them are found in the Public Sector (NHS and State School employees) - the public sector pension account currently reads: Liabilities: £591 billion - Funds: £Nil !

Spare a thought for the hard pressed private sector taxpayer - 52% of whom have no pensions savings whatsoever - and most of whom will be expected to work in minimum/low wage jobs until they are at least 68 to help fund the luxury cruises of public sector employees many of whom retired at 60 - before being able to claim the pittance known as the UK State pension, one of Europe's lowest.

[spellbrook] 31/8/2018 10:40

mark10101

Was that your 200k buy ??????????

[spellbrook] 31/8/2018 10:00

He also said the fuel subsidy is still on. In the last Budget, he said all subsidy was removed on fuel but the Budget was pegged on an oil price of US$52 and for this year it averaged over US$60 – resulting in a subsidy.

“Our calculation is the subsidy’s estimated by the end of the fiscal year at about $900 million,” Khan said.

“There’s also a subsidy that Petrotrin absorbs on LPG. That figure is over 500 million so there’s still a heavy subsidy from the state on fuel and on LPG—we haven’t decided exactly how that will be handled.”

[mark10101] 31/8/2018 09:48

Fun and games this morning with the price. TRIN has looked primed for a decent move all week, certainly seems the battle is intensifying today.

[spellbrook] 31/8/2018 05:30

Oil is on track for a second consecutive week of gains, after two months of losses. Oil prices have climbed 10 percent in the past two weeks, and the big question is whether or not the momentum can continue.

The reasons for the recent rebound are multiple. First, from the perspective of the physical market, there have been recent bullish data points that suggest the market is tightening. The latest EIA report revealed a surprisingly strong decline in crude oil inventories, gasoline inventories and also higher gasoline demand. Oil prices popped on the news.

Iran is also back on the front burner. The U.S.-China trade war and the Turkish lira crisis have sucked up a lot of oxygen this summer, but the countdown to the implementation of oil-related sanctions on Iran continues.

The Wall Street Journal reported that Iran’s oil exports are falling much faster than most analysts had predicted. While China and the European Union have vowed to continue to help Iran export its oil, it’s an uphill climb for Tehran to prevent supply losses. Banks are backing away from involvement in the trade of Iranian oil, and shippers are having trouble finding insurance for cargoes. European refiners, despite political support for Tehran in Brussels, have already moved to sharply cut purchases of Iranian crude.

The result is that Iran’s oil exports are set to plunge this month, after more modest losses in July. The WSJ says, citing data from SVB Energy International, that Iran’s oil exports could fall to 1.66 million barrels per day (mb/d) in August, a massive decline from 2.34 mb/d in July. The consultancy says that Iran’s oil exports could continue to fall precipitously over the coming months, falling as low as 0.8 mb/d in November

[spellbrook] 30/8/2018 21:00

Trinity Exploration & Production PLC (LON:TRIN) shares rose 3.2% to 17.3p in late-afternoon trading after it spud the first well at its programme in Trinidad.

The AIM-listed firm said the well was part of a six infill well programme that would be added to two existing wells, with the aim of maintaining double-digit year-on-year production growth going forward.