Trinity Exploration & Pr... Share Discussion Threads

[spellbrook] 23/1/2019 16:49

• Majority of the 8 well drilling campaign commenced mid-way through Q3
2018 =>



the production impact has only begun to be fully realised during
Q4 2018

[spellbrook] 23/1/2019 16:47

• Low operating break-even (H1 2018: US$28.5/bbl) & significant margin/
operating profitability

- Positioned to benefit from increased production

- Substantial tax losses also available (US$213.0 million)

• Clear pathway to >10% p.a. growth in short term from Onshore drilling

• Production to >7,500 bopd in the medium term with resumption of East
Coast drilling

• Unique and experienced team aligned with shareholders

- Strong relations both locally and internationally


- Board & Management own c.23% of shares
•

[mark10101] 23/1/2019 16:19

nocents, yes superb summary, as a long term holder also there has never been a better set of company metrics to shout about. MCAP is a long way away from the valuation the old poorly run TRIN at £160m. I don't think the brokers targets are that far fetched and a possibility will arrive soon.

[nocents] 23/1/2019 15:40

In 5 years of being a shareholder I have never seen a better nor more concise summarry of the company. Top quality and still a rock bottom price for an intelligently-run /debt-free/ asset-rich/ prif-making machine.3,200 bopd and growing to 7,500. 28.5 ave. breakeven !! And $15 onshore!!! Buy buy buy...so I did.

[mesquida] 23/1/2019 13:51

Thanks for posting that link, Spellbrook, anybody thinking of selling here should read that fact sheet 3 or 4 times before making a decision !

[spellbrook] 23/1/2019 13:43

T/O target ???? if cash keeps growing plus trinites , tgal

[spellbrook] 23/1/2019 11:56

Warning Signs Flash For U.S. Shale

[mark10101] 23/1/2019 11:44

Just read through it Spellbrook. I received by email and was just looking for a link to share, so thanks for posting.

Great summary and I will put the link in the header.

[spellbrook] 23/1/2019 11:39

Trinity is an established producer with 100% of its onshore & offshore
production in Trinidad. Operating at US$28.5/bbl break-even,

[spellbrook] 23/1/2019 11:32

latest fact sheet just out from Trinity

[mark10101] 23/1/2019 10:47

TRIN looking like it is about to tick up, oil doing nicely. Long term prospect for oil as per Sleveens article is looking interesting/positive.

[nocents] 21/1/2019 12:30

Seems we’re over $54 for first time.

[nocents] 21/1/2019 11:36

WTI nudging $54

[nocents] 21/1/2019 09:21

Wouldn’t believe anything Russia says. They are problably atill pumping max. US still looking after itself but no way that shale will not suffer from the downturn. Rig count already down 2.5% in a week. Expect to see inventories down and shale down near-term. 3 months and we will have clearer picture.
NB Simon Thomson Investors Chronicle and FT still rates Trin as Buy.2/3 below risked/unrisked NAV at 38p.

[spellbrook] 20/1/2019 09:08

Investors chronicle, cenkos , Whitman , Malcy whose right 38p

The bounce in Brent Crude in the past fortnight has been mirrored by a similar recovery in US Benchmark West Texas Intermediate. This is clearly a positive for Aim-traded Trinity Exploration & Production (TRIN:14p), an independent oil and gas exploration and production company focused solely on Trinidad and Tobago that I highlighted in the autumn (‘Resurrection points to a strong recovery’, 3 Sep 2018). The 2018 fourth-quarter oil price reversal dampened sentiment and Trinity’s share price is 17 per cent under water, but the investment thesis still holds.

Indeed, with Trinity achieving output of 3,000 barrels of oil per day in October, and bringing onstream six new wells in 2018, it is set up to further increase production this year. The debt-free company retains a cash balance of $17.6m (£13.8m), equating to 25 per cent of its market capitalisation of £54m, part of which is being recycled into its profitable onshore drilling programme. It is lowly rated, too, with the shares priced two-thirds below risked net asset value (NAV) of 38p a share based on 2P proven reserves of 23.18m barrels and cash in the bank, one of the deepest discounts in its peer group. Buy.

[nocents] 19/1/2019 10:56

Yes I noticed rig count. 53 dollars is only breakeven for most shale and that is assuming tier 2 and 3 strata are not more expensive than the easy tier one drills in a well!
Winter means heavier inventory draws. Very cold in central and midwest ( down to -28 atm). NY cold too. Distillates up but that was on previous cheap Xmas oil. Trump will prob backtrack on Iran and allow exemptions but Opec et al are determined.Rightly so. If we get near-term shale-fail that should support WTI. Longer term shale is controversial..some analysts supporting growth and some not.
Next 6 months should see WTI rally to $60. Many banks see sixties as 2019 average.
Much rests on demand in China. India is curiously ignored and is “ the new China” re. demand allegedly.
All controversial and short-term media as usual!
Well done to all those still in Trin and newcomers. We are sound and will recover well enough. Opec production results 12th Feb will be interesting. Media coverage promised before FY results April.
Still so cheap to buy in the fourteens! Giveaway. Brokers’ 6 months targets remain at 38p !!

[quemaster] 19/1/2019 01:50

Can't see shale production increasing much after the latest rig count figures,

"Drillers pulled 21 oil rigs from U.S. fields last week, bringing the national rig count to 852, the lowest since last May."

[nocents] 18/1/2019 22:46

Last article very interesting. Shows oil is on a dynamic changing path. Demand could rocket....and decaying demand in China helps no-one. Not even Trump who may be instigating it. Oil ( WTI) could easily be back in the sixtirs very soon.