Trinity Exploration & Pr... Share Discussion Threads

[mark10101] 11/10/2019 21:22

Malcy's from today.

hxxps://www.malcysblog.com/2019/10/oil-price-amerisur-trinity-jog-reabold-zenith-bpc-and-finally/

Trinity Exploration & Production
Trinity are updating on the T&T budget statement this morning where the Government gives and takes away, overall it is slightly negative. In SPT an increase in the ITC to 25% helps capex to offset SPT whereas changes in capital allowances to a straight line basis are mildly unhelpful as is the PPT relief reduction from 100% to 75% is also a small negative.

Whilst the sum of these things are basically neither here nor there is must have the possible bonus of making the Government realise quite how radical changes to the tax regime are necessary. Elsewhere business at TRIN appears to be going very well where they are controlling what they can and not those things they can’t. These include a couple of recent shares sales which have hindered any positive news. I remain confident that Trinity will in due course get much closer to the valuation it deserves.

[mark10101] 11/10/2019 20:05

Egg, you come and on this boards so you have clearly been able to observe what a share price does when management neglect the retail investor (assuming they will behave like an institution in a FTSE 250 company), that are honest to a fault that during my 4 years of holding has almost felt vindictive in the way they present their news releases and failing to see the impact on the share price. TRIN is a company with vast reserves (700mb STOIIP for Galeota, 98mb STOIIP for TGAL and the prolific onshore assets) that is restricted by the awful fiscal regime ALL T&T operators have to cope with. We have 3000bopd production and £18m in the bank and a MCAP of £37m.

CERP has 500bopd production, $500k of debt and just announced the long awaited acquisition with a STOIIP of 20mb. They have strung investors along with water flood stories, co2 stories and new exploration that never seems to come to fruition and have a colossal (relative to TRIN on a fundamental basis) MCAP of £33m!

Do you not see that Ross may have a point?

[gabrieloak] 11/10/2019 18:25

Ross...I might be reading this wrong but I am getting the impression/sense this chap doesn't like you very much...

[eggchaser] 11/10/2019 16:36

Then you have some idea of how CERP holders feel with contradictions, unregulated financial advice, constant bashing of a share he/she or more fittingly it, does not either like/trust or are invested in. All from the comparative safety of its bedsit!FWIW we follow this share and might well take a position IF the share price drops and it might not but I won't be bashing it to gain that entry point!

[gabrieloak] 11/10/2019 15:58

Errr eggchaser, on the one hand you taunt Ross about taking some medicine from my posts and then within an hour, you accuse me of being Ross, thereby nullifying your first post as it is hardly a taunt for Ross to give himself his own medicine...finally referring to yourself in the 3rd person (as our only interest here is the charlatan Dross) you imply the very thing you accuse me of: multiple posting disorder.

I think it is probably best you toodlepip off as you are wrecking our postings versus facts ratio...something that we are MOST proud of (not)

[eggchaser] 11/10/2019 15:37

As for your Gulp posts - we see the city take a different view but it would be wrong to add further comment as our only interest here is the charlatan DROSS.Toodlepip !

[gabrieloak] 11/10/2019 15:34

Oil, its true...and they have combated declines in the period covered: largely covering their costs sideways (and this is the time value of money part)

What is sad to me is that such a good bunch of guys and gals running the company could not have been thrown a break in that last budget...

If TRIN had been offered a 100% capex credit against SPT then they would have drilled a lot more wells and be producing a lot more royalty for the government.

It is just so short sighted given the race is on to sell your oil and evolve in this modern era where the gallows for oil beckon. No point having lots still in the ground and the world embargoing its principal uses.

[oilinvestoral] 11/10/2019 15:15

GOFirst of all thank you for taking the time to write up such a well structured and eloquent piece. I agree with the majority of what you have written and your knowledge of the fiscal regime in Trinidad is buy far superior to mines. The only point I would question is that solely looking at the extra 300-400 bbls extra that has been generated due to the drilling and workover. You are forgetting that during the same comparison period the company generated significant amounts in FCF which should be taken into account when looking at the investment case of TRIN. Is TRIN worth what WH are targeting ? No I don't think so! But I belive it's worth a hell of a lot more than 10p!

[gabrieloak] 11/10/2019 14:20

Aah I see...

[eggchaser] 11/10/2019 14:17

Marvelman DROSS aka Rossannan - is who LSE and ADVFN's resident pond life and spends more time bashing a company with supposedly no financial interest!Day after day, weekends, whilst on phantom holidays, despite promises not to post until meaningful RNS yet posts anyway but curiosity spends little time on stock they claim to hold?!Such is the liar and charlatan this clown is!

[gabrieloak] 11/10/2019 14:15

Hang on Ross...how did we manage to post that at the same time!

[gabrieloak] 11/10/2019 14:14

Mr Chaser, most people on here long enough know who I am as it was a matter of public record when my holding was greater than 4% and I divulged the connection with the moniker under which I write.

I am not Ross...I wish(!)

[gabrieloak] 11/10/2019 14:12

All of this leads onto an important follow on post...prompted by Mr E Chaser.

TRIN is in a profoundly strong position to ride through an ongoing maximum SPT regime with a fresh stealth PPT and a wider malignant tax regime: how are the balance sheets of other Trinidad oilers looking by comparison??

GULP

If all that money was required / deployed to fight decline rates by TRIN, what is in store for other over-stretched companies active in Trinidad??

GULP

Yes, there is always the hope of something more with this or that...but, what about the core of their businesses?? What about the updates on flow rates on existing??


GO U L P

[eggchaser] 11/10/2019 14:10

So this is your other Avatar eh DROSS - well well what a surprise!You have more faces than Big Ben!

[slicethepie] 11/10/2019 14:03

Good points. I have also wondered why the company needs 4 advisors nomad, broker, pr and equity advisor. Most companies of this size would not require pr particularly as they have a full time internal spokesperson ie Tracy. This is not a difficult company to understand. Bruce has one of the cushiest jobs in the o&g sector...needs to start earning his obscene salary and producing some results that benefit shareholders.

[astorcourt] 11/10/2019 13:43

nocents has been left to carry the can

gabrieloak, shrewdmole et al all jumped ship. lol

[gabrieloak] 11/10/2019 13:36

LOL!

Dross is a reference to Ross Annan...infamous scourge of CERP and TXP and any other board that doesn't like hearing truthful comment...what he does wrong is to tell the truth of what he sees to people that don't want to hear it. He is one of the best posters I know.

Tracking him down wasn't hard as he is actually called...wait for it...Ross Annan. He and I chat often. Hopefully he won't mind me mentioning him here

Funny thing is he doesn't own any TRIN so there is no medicine for him! What he did was formulate a truthful proper view, come to a conclusion and sell Trinity a while back.

These boards are full of people who want to hear what tickles their ears. This guy is one of them...all territorial to the point of not examining the truth.

Better for him to work out that which is applicable to TXP/CERP in what I researched and wrote (rather a lot as PB let on between not answering and then fully answering on the budget question)...rather than go on some kind of ridiculous rant about Ross being a charlatan and a liar.

I am looking forward to hearing some truth from eggchaser, but as yet I have not.

[marvelman] 11/10/2019 13:33

EggChaser...I think you have the wrong thread,,,this is TRIN not TXP and we have no idea who DROSS is

[eggchaser] 11/10/2019 13:32

DROSS is supposedly invested in TRIN whom today have news out over finance yet not a peep from our clueless deramping liar who advises investors to sell holdings in CERP despite not being financially qualified let alone FCA registered!!! Had people sold when DROSS said would have missed the climb to where we are today - having said that DROSS advises to de-risk nearly every week!!What a really poor excuse of a human and a complete waste of oxygen!

[eggchaser] 11/10/2019 13:26

Dross - didn't you announce on LSE you'd dramatically dumped your shares in TXP on Tuesday - didn't stop you deramping it subsequently - now it's a shining example!