Trinity Exploration & Pr... Share Discussion Threads

[sleveen] 11/3/2020 19:14

Merkel wrong, Sunday Times wrong .

Maybe upto 500 deaths in UK if UK is unlucky.

It's all media BS


100% agree on SPT nocents.

[nocents] 11/3/2020 19:11

But if we are alive and see the end of Trump then it’ll be worth it. Shame about Putin.
Apologies for going on so much. Genuine applogies. Just passionate aboit a few things . Or should get out more. But I’m ill and it’s raining.

[nocents] 11/3/2020 19:07

Add Bloe/Hurricane. Petrofac FGS. Enormous company. The Dow is down 6.22%. Officially in a bear market.
A lot of companies likely to go down. So.....survival is the ley.

[nocents] 11/3/2020 18:18

88E good one to be in right now but I’m broke obviously!

[nocents] 11/3/2020 18:17

Hedges are at present level until July. Then fewer barrels hedged but still hedging . Breakeven is 26.5 from memory. Lowest shale breakeven ( lowest in one area of Permian ) is $40. Russia blags but needs $40. Says $ 25 is ok but Russia is consistent liar on anything. Saudi need $80 . This is why 2016 only lasted so long. Shale will go down which iscwhy Russia did it.
In context:- it is about survival. To hold cash and have no banks to default to. No other govt. debt. To receive a premium of maybe 3 dollars (?) above WTI gives $36.5 plus $6 hedged= $42. Which is a greater profit than at $50-$52 with 22% SPT which is where we were. Still cash-generative. But fgs to just survive at these levels is a success. That’s not a great profit I know.
But look at BP and Shell and how much they have crashed. Divvies are at risk there I feel. BP ok but Shell on rocky ground.
Tullow has gone to 18p !
Everything is in the right place for Trin in terrible corcumstances for all oilies.
It is how it is
WHO just declared pandemic. Merkel comes pit saying up to 58m people will get it ...her head of virology goes crackers and says it’s up to 40,000!!! Who do I believe. Onvious !!!
We are in scaremongering times ( see Sunday Times predicting up to 100,000 deaths in UK and ripped to shreds by the media moguls . Rightly so. Unbelievable scarempngering and so irresponsible as it feeds fear.
This is the context of today’s market.
Trin may be dragged down but they are in a stable position. IMO one shpuld not expect to make money in oil right now unless one is buying in.
Btw nothing personal was ever meant. Trin said it all in their RNS. Anyone in TLW/Ptal/RRE doing worse and far more at risk.

[oilinvestoral] 11/3/2020 17:47

Correct me if I'm wrong No cents but operating breakeven is slightly below 30 dollars ! I KNOW about the hedges but they are not forever! It costs us nearly 30 dollars to produce 1 bbl if we sell it for 31 and pay no SPT is that good ? I know the hedge will benefit us for now but they will expire ! We can't be naive ! That's why TRIN is at 6p

[nocents] 11/3/2020 17:03

I ( not K)

[nocents] 11/3/2020 16:38

If one invests in a T and T oil companybone has toninderstand SPAt fully. And the hedging implemented by Trin. A few people here don’t . No offence. But it is an error not to understand.

[nocents] 11/3/2020 16:36

Yes correct. I want it down. Read the RNS.
Read abput SPT
Understand its implications along with $6 a barrel below $40.
OTemple is right too. We need below $35 averaged through March to negate SPT and pocket 2 million dollars.
We will make more money here than at $55 a barrel.
One has to understand the full process.

[otemple3] 11/3/2020 16:06

Oil investor - yes we do. We need the price low at this point!

[oilinvestoral] 11/3/2020 15:56

Yes I think he wants it down which makes no sense to me ! If it goes below SPT threshold then nobody makes money! Not us and not the government. I prefer POO goes up

[astorcourt] 11/3/2020 15:42

are u wanting the oil price down nocents?

[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.