Trinity Exploration & Pr... Share Discussion Threads

[nocents] 11/3/2020 12:55

Hopefully. We are sub 33 now. Started at 44.
It’ll be close.

[mark10101] 11/3/2020 12:42

Thanks Nocents, hopefully this QRT squeaks in.

[nocents] 11/3/2020 12:36

Mark. Check emails

[nocents] 11/3/2020 12:26

Have looked at these links already. Find no reference to Trinity. Just Jim trying to flog hos online AIM investor course. Clickbait. I do not respect his audio presentation as it’s mostly in order to sell homself. Blatant.
Mark. Yes SPT based on realized price not WTI . But only Heritage receive $5. Smaller companies like Trin receive less. SPT will be a close call. Need sub $33 for rest of March IMO

[spellbrook] 11/3/2020 12:06

In similar vein, Trinity Exploration & Production (TRIN) confirmed their “operating break-even has consistently been below US$30.0/bbl in all periods since the new management’s measures took effect in 2016.” Again, let’s see how many other companies can confirm this.

The oil price is now in the $30s and if it stays down at this level, a new game will commence.

[spellbrook] 11/3/2020 12:06

In similar vein, Trinity Exploration & Production (TRIN) confirmed their “operating break-even has consistently been below US$30.0/bbl in all periods since the new management’s measures took effect in 2016.” Again, let’s see how many other companies can confirm this.

The oil price is now in the $30s and if it stays down at this level, a new game will commence.

[mark10101] 11/3/2020 11:26

Oppologise if I am wrong but from a tax point of view it would not be fair unless it is calculated on prices received.

[nocents] 11/3/2020 11:15

Hmm
I am sure Tracy said otherwise. Will ask

[mark10101] 11/3/2020 11:07

Nocents listen to Imberts speach, I interpreted it as the price received, this is what they are basing the countries budget on. WTI is just a guide, remember the days when the price received was a discount to WTI.

[spellbrook] 11/3/2020 11:02

Imbert: We must bite the bullet, establish Revenue Authority

[spellbrook] 11/3/2020 11:02

Imbert: We must bite the bullet, establish Revenue Authority

[nocents] 11/3/2020 10:59

Mark
I believe SPT is pegged to WTI price. The bonus for heavy oil is not relevant. I seem to remember Tracy explaining.

[mark10101] 11/3/2020 10:49

Listening to Imbert last night he also pegged gas at $1.80 instead of $3, that is quite a significant move there. I also picked up the bit about T&T oil currently selling at $5 premium. That will come in handy when fiddling the figures to ensure this QRT they collect their SPT payments again...

While watching him squirm I could not help think, from my point of view, justice has been served for their handling of the SPT they said would be reformed and never did. Such short sightedness is now being punished. The whole point of removing SPT was not to line the pockets of share holders but to give well run companies like TRIN more money to plough into increasing production. I suspect TRIN would be at least 5000-6000 bopd had they reformed in April 2017 as indicated. Royalties and other taxes remain the same with lower oil prices so a doubling of TRINs production would currently more than offset any loss in SPT that could come in QRT 2. Hey ho that is life.

[spellbrook] 11/3/2020 10:37

Budget now pegged at US$40 oil price
In response to financial crises brought on by COVID-19 and collapse in energy prices..

[spellbrook] 11/3/2020 10:37

Budget now pegged at US$40 oil price
In response to financial crises brought on by COVID-19 and collapse in energy prices..

[pavey ark] 11/3/2020 08:34

If anyone is interested I did some serious number crunching last night.
I'll just put my findings out in list but not all tied together.

1. Operational break even $26 (I think soon to be $25 but used $26)

2. Paying (ORR at rate below $40) I get a figure for actual break even of $31

3. These figures ignore the premium received by Trin for its oil or the options in place.
If I reduce the premium to $1 and the option payment to c. $750k I get $1m extra per quarter.( could be a little more)

TRIN is generating some cash at $30.

NB If Q1 average does come in at $49 then much cash has been produced in Q1.

I doubt if people expect the average above $50 in Q2 so a figure in and around $35/$45 should see TRIN ok in the second quarter....producing some free cash.

Beyond H1 ....see Mystic Meg !!


NUMBERS ARE UP FOR REVISION !!

[nafafa] 10/3/2020 21:31

Bruce commented 'We continue with our strategy of delivering returns for our shareholders .....' Have I missed something?

[nocents] 10/3/2020 18:26

Honourable.
Lol

[nocents] 10/3/2020 12:25

But ...sorry..he has proven himself a fool.

[nocents] 10/3/2020 12:24

Imbert has proved his lack of competence and integrity on many occasions. Not to be trusted.
Only sub $40 pressure will force his hand. If he ever does anything.
He needs to take away the burden of SPT and make it a profit based tax which is directly related to increasing production. Win win

[spellbrook] 10/3/2020 11:49

Imbert: PNM handled it successfully before
Coronavirus, oil $$ crisis