Trinity Exploration & Pr... Share Discussion Threads

[nocents] 20/1/2020 17:16

Yup. Hear hear.

[spellbrook] 20/1/2020 16:47

PA

im looking for the next thing(s) to push us on further

[pavey ark] 20/1/2020 16:26

astrocourt, I agree with you, it adds very little to the RNS.

SPELLBROOK,
The directors hold a fair number and I dare say there are additional options on the go.
If I were involved in a company I would be very wary of holding shares in it.
If you are employed by the company and it hits trouble the last thing you need it your shares to tank.
I very much doubt if there is any chance of a dividend as they are raising cash for east coast offshore.
Acquisitions, Dingwall said they had plenty of assets and I would suggest that their main interest is on the offshore drilling.
They drill enough to keep production rising AND to increase their cash....again, for the big project offshore.

I don't post often for reasons I've given before but I do have a reasonable holding here and 15%+ up on over my comparatively short holding period.

I wonder how anyone who has spent serious time looking at all the online information available could be anything but pleased with this update and obvious progress of the company.......ah!....I think I just answered my own question !!

[nocents] 20/1/2020 16:01

Astorcourt
It’s absolutely not word for word from the RNS. Proves you haven’t reas RNS properly.
And if they thought we couldn’t read we wouldn’t be able to red that either now would we!! So how could they think that? Your post holds less logic than what you are criticising.
Spellbrook can post what he likes and it is not a duplicate.
A minisce minoroty are illiterate and I occasionally work with them.
It was a very valid trascript and analysis of the RNS. Not a duplicate

[spellbrook] 20/1/2020 15:32

ac

from Malcys blog

we now need

directors sharepurchases
divi declaration
aquisition
larger drill program

[astorcourt] 20/1/2020 15:30

whats the point of that spellbrook?

word for word from the RNS, do they think we cant read?

[spellbrook] 20/1/2020 15:08

Trinity Exploration and Production
A Q4 19 operating update in which the company grew production, generated free cash flow and ‘protected the business’ from downside risk. The 4th quarter optimised existing production whilst the second half saw 6 new wells being drilled which have gone on to give the company a strong start to 2020.

Production across the board was in line or better than guidance, in the quarter it was up 13% Q/Q to 3,196 bopd (2,816 in 3Q 19) and up 5% Y/Y to 3,007 bopd (2,871). The increase came from 6 new onshore wells drilled in H2 and the usual combination of RCP’s, workovers, reactivations and swabbing which made the ’19 exit rate almost 3,400 bopd, a level in line with expectations and that had been like that almost all December. The 6 wells achieved an an increase of 20% in EUR above pre-drill prognosis (PDP), 47% in estimated Net Oil Sand recovered over PDP and 54% increase in initial production rates over PDP, at 650 bopd vs 421 bopd.

The first High Angle Well (HAW) performed satisfactorily judged by IP of 80 bopd against expectations of 50 bopd, now on a gravel pack and producing 40-50 bopd which should increase to 80 bopd with a well pump. Also better than expected has been the performance of the trial of the Weatherford SCADA system with a meaningful increase in production from the two pilot wells whilst the system is now on six wells with more to come.

Trinity has cash of $13.8m at the end of 2019 up from $10.2m a year earlier, a testament to the company’s incredible cost controls and bear in mind that this includes drilling the six wells in 2H 2019. The company’s hedging strategy mitigates the worst of SPT ‘whilst retaining upside exposure to rising oil prices over the majority of production’. The company remains a very high margin business, by design as cost control is as good as any in the industry and it will remain as the poster boy for break-even costs and thus growth and profitability. Finally, in moving both the Trintes Field area and the TGAL field development forward there is still upside potential at Trinity.

[mark10101] 20/1/2020 15:01

Yes Nocents, first time I remember Bruce using short term delivery of share holder value.

"I'd like to take this opportunity to directly thank our fellow shareholders for their support and patience during what has been a volatile quarter in the global markets. Please be reassured that all of our plans are focused on ensuring that we have the best platform in place to grow the value of our Company over the short, medium and longer term."

[nocents] 20/1/2020 14:46

As usual the share price went down because of the “ten percenters”. Fair enough. But that’s the only reason why. It’s gonna happen. I honestly expected it.It’s frustrating . But it’s how it is.Long term private investors in any share are rare but they are the ones who reap the benefit in the companies which pay off in the end.
Bruce’s average is around about 35p. LTIP will easily make it all worthwhile. I have never read a paragraph like the last one from him before either.

[nocents] 20/1/2020 14:40

I have say I agree. And with the term loan cannot help but think something is a target for the cash held-not just for onshore drilling working capital.

[mark10101] 20/1/2020 14:09

PB a lot to be optimistic about. Why has a term facility been agree when by the end of the qrt we should have built cash by pretty much that amount...

Also the share price is actually behaving pretty bullishly imho and that is something I can't ignore, despite sharing the consensus the update was good but missing what we are all here for, share holder value. Bruce is paid big bucks and it will be top of his agenda. From June this year they can claim their performance related pay if they get TRIN to 35p, pretty much where the broker price targets are.

[nafafa] 20/1/2020 14:03

They don’t appear to be gushing about HAW, stating that the well continues to perform satisfactorily and that for me decently summarises the update. The end of year results need to articulate a milestone plan for delivery of real shareholder value, otherwise I will certainly be looking to cut my losses.

[princebuster2] 20/1/2020 13:51

Mark I genuinely admire your constant optimism

[nocents] 20/1/2020 13:31

Lol
Living proof

[nocents] 20/1/2020 13:30

Referring to
BAE
Colt Telecom
ARM ( fgs )Id be rich on just that.
Hargreaves L (£6 5 yrs ago npw &18)
Ocado 5 yrs ago (60p !!!!) Now £13 !!!!!
Glencore ( 85p!!!) 4 yrs ago) Now £2.40

So many more.
Only 5 yrs ago !!! I would be a millionaire if I’d held onto just a couple.
POG wasxmy big error and even that has gone up 140% in just a year.
Yer takes yer profit and pockets it.
But yer’ll never take that bumper profit that could change your life. I am loving proof. Only solid companies mind !!! No Afrens.
Warren Buffet made one error with Tesco but a true rarity...and they had a dodgy CEO who cooked the books.
Please sell asap and take that profit.
I’ve genuinely missed too many steamers. I’ll go woth Cenkos/WH ( and MT’s oil cycle) and an excruciating longer wait.

[nocents] 20/1/2020 12:58

Was in here at £1.48.
Was in here at 1.49p when others said it would never happen. Oil was $26 and they said oil would go to $5 and Trinity would go bust Neither happened and it came good. Rocky 3 years since refinancing and an unpopular ( and perhaps unnecessary ) Placing.
We are awash with short term profit-takers. Sooner they sell the better. As usual.
Nothing about Q4 results could have been better.
Market white noise as people take profit.
If I had kept the shares I sold too early then I would be very rich. I am certainly not rich by any means now. But I learned about waiting. Excruciating as it is.
The brokers’ have number-crunched the trith.
The market is fickle as it is a low volume share and people want to takeor quick profit and run.
I did that many times. It’s why I’m not well-off.

[mark10101] 20/1/2020 12:51

3.3m volume and we are up on a results day. The last time that was the case we were on route to 27p :-)

[nocents] 20/1/2020 12:47

I’ll wait for the day it’ll reach the target. Not that long off. A bit too long for comfort... a while perhaps. But it’ll happen.

[princebuster2] 20/1/2020 12:23

Im sure its two and half years now since they first said this. Maybe they are taking the broken clock approach...just keep saying it and one day it be right!!!

[mount teide] 20/1/2020 12:05

Decent increase in production from the H2/2019 drilling programme - although the 5% y-o-y production growth was on the lower side of expectation. It does however suggest that a similar drilling programme in 2020 has the potential to produce a double figure percentage increase in annual production growth.

Cash position is encouraging as is the increase in production now hedged to minimise SPT, and the continued focus on cash generation.

Overall, happy with these results which strongly suggests the company remains significantly undervalued.

[spellbrook] 20/1/2020 11:43

PB one more zzzzzzzzzzzzzzzzzzzzzzzzz

Trinity E&P
@Trinity_PLC
·
8m
@trinity_plc
(AIM: #TRIN) Cenkos says BUY with a 37p target, highlighting sustainable production growth and cash conversion upside
@research_tree

[nocents] 20/1/2020 11:36

Still hetting rid of fickle short-termies

[nocents] 20/1/2020 11:27

Well either way I can’t really fault the company’s processes.