Trinity Exploration & Pr... Share Discussion Threads

[pavey ark] 14/9/2020 11:19

Sorry Mark but I can't agree with you on TGAL but I know you have expressed these doubts before.
There is certainly little drilling/geological/technical risk and much potential reward.
I have never suggested that the company goes ahead under the current financial setup and they almost certainly won't.

"the returns are just not exciting enough for the risks involved for a company of TRINs size."

With the tax position resolved there is very little risk .
Without tax reform there is no risk as the project will not go ahead.

"In the small cap space you need TXP’s assets and luck with the drill bit to deliver the rise in the share price we are all here for."

I think you will find that they will be using a drill bit at TGAL but I don't think they will need much luck.

I really can't see this management selling off TGAL, adding to the substantial cash pile and buying a load of onshore assets just to get a three or four pence rise in the share price.

Plenty on the other board with extreme views but if you are invested in TRIN you should appreciate what the management's aims are and they have said more than once that they are aiming at a 7k..15k..30k bpd company and that must include TGAL

[mark10101] 13/9/2020 19:59

PA, yes their manifesto stated no SPT below $75 for 2 years, and totally agree this is not sufficient enough for TRIN to develop TGAL, however it would be a very big boost for TRIN overall.

I see 2 ways forward for TGAL, a sale to Perenco to develop (it is the right sort of project for them) or special dispensation for the TGAL license to allow for its development. Removing the SPT uncertainty/ improving tax implication would allow for it to be developed and it is something that the government can and have done for special projects. I can not see TGAL being left much longer, it would be a significant oil project for T&T, crunch time has arrived.

My view is under the current, or proposed manifesto regime it is not a project that would be shareholder accretive for TRIN, the returns are just not exciting enough for the risks involved for a company of TRINs size. I genuinely believe TGAL is a significant contributor to TRINs low share price due to the uncertainty it induces. In the small cap space you need TXP’s assets and luck with the drill bit to deliver the rise in the share price we are all here for.

I am back to full investment in TRIN as I am sure the TRIN team have a way forward that will take us significantly higher than the current 8p range, hopefully an interesting few weeks ahead.

[aimmafia] 13/9/2020 19:17

What is estimated cash in bank for the next update? It must of gone up somewhat from June....

[aimmafia] 13/9/2020 17:49

Results on the 15th... at what point does the share price go up following cash in bank.... share price is way way way to low.

[pavey ark] 11/9/2020 14:39

If I remember correctly there was a promise of no SRT below $75 on small onshore production (TRIN)for the next two years.
I can't believe that TGAL will go ahead without a much longer commitment than two years.
As things get progressively better for TRIN after $60 oil then the company would , in my humble opinion , be looking for a 10 year promise of no SPT below $60 and a stepped introduction after that.

TGAL and other near shore fields must be developed and developed soon but that will not happen without a firm promise of reform.

[mark10101] 10/9/2020 22:27

HH, I suggested to Bruce in an email back in December 2018 after the government failed to reform SPT as promised, that with oil the SPT dead zone they should reduce headcount, stop all drilling and look for a territory with more favourable terms, or at least with assets that can outstrip the taxation burden. Two years On and we might just be seeing the signs of bluff or not being implemented. If there is no reform (as clearly outlined in the manifesto) then maybe the recent appointment will deploy TRINs hard built capital somewhere else. Interesting weeks ahead.

[spellbrook] 10/9/2020 21:13

Will we have another HAW this year

[spellbrook] 10/9/2020 21:06

Mark10101

Hope you have a few questions lined up

All the best

[spellbrook] 10/9/2020 21:04

I’m thinking Perenco

Edouard Brain as Chief Financial Officer ("CFO") effective 14 September 2020. Jeremy Bridglalsingh, currently Managing Director and CFO, will relinquish his role as CFO at the same time and concentrate solely on his role as Managing Director of the Group.

Edouard has 18 years' experience in finance roles for both public and private oil and gas businesses, including most recently as the Latin America Regional CFO at Maurel & Prom, a French listed company with annual sales in excess of US$500 million. He has extensive Mergers & Acquisitions experience, most notably on transactions within Colombia, Argentina, Brazil, Venezuela and Peru alongside his long experience of managing a large finance team and audit processes as part of a public company. Prior to joining Maurel & Prom in 2006 he was the Latin America Regional Financial Controller and Internal Auditor for Perenco Group, one of the largest private oil and gas companies globally

[mark10101] 10/9/2020 20:54

Spell it is gas related, but it is Still good to see, hopefully they can now turn their attention to the dwindling oil industry.

[spellbrook] 10/9/2020 20:03

Perenco T &T Limited and its co-licencees

[spellbrook] 10/9/2020 20:03

Perenco T &T Limited and its co-licencees

[spellbrook] 10/9/2020 20:02

PORT OF SPAIN – The Trinidad and Tobago government on Wednesday said it had reached agreement with various stakeholders in the energy sector on a 10-year extension of licences and that its policies have also enabled the country to derive a greater share of revenue from the monetization of the hydrocarbon resources
Energy and Energy Industries Minister, Franklin Khan said that agreements were reached with BP Trinidad and Tobago LLC and co-licencees, EOG Resources Trinidad Limited, Perenco T &T Limited and its co-licencees, the National Gas Company of Trinidad and Tobago Limited and Heritage Petroleum Limited, on licence extensions.
The agreement between the parties represents the outcome of continuing negotiations on gas related issues. The first phase which was completed in December 2018, resulted in a ten-year extension of BPTT’s South East Galeota Licence and financial benefit to the State in the sum of one billion dollars (One TT doillar=US$0.16 cents) for settlement of legacy issues, according to a statement issued here by the Ministry of Energy and Energy Industries.
It said that under the terms of this agreement, 91 Teak, Samaan and Poui licences and the East Mayaro Licence have each been extended for a period of 10 years.

“Further discussions have been scheduled between the parties to bring the licences up to date with the modern exploration and production licences. The State will benefit from incremental value estimated at US$250 million relative to the period up to September 2024,” the statement said.
It said that the agreement with BP Trinidad LLC and the other stakeholders for the Teak, Samaan and Poui licences and with BP Trinidad LLC for the East Mayaro licence was signed on Wednesday.
“The affirmative action taken by the government in engaging upstream producers has been mutually beneficial. Government’s proactive approach has placed the sector on a more solid and sustainable footing.
“Government policies have also enabled the country to derive a greater share of revenue from the monetization of the country’s hydrocarbon resources. These outcomes are testimony to the effectiveness of the Government’s energy policies and the positive collaboration with upstream stakeholders,” the statement added. (CMC)

[kaos3] 10/9/2020 17:18

kaos3
10 Sep '20 - 16:53 - 3516 of 3516 Edit
0 0 0
why W Buffett is rich -

1. he finds good operations throving cash
2. he takes all but little cash from his Cos and reinvests it elsewhere
3. mostly he is permanent cash taker from his businesses ( Sees Candy, papers etc etc) because he is seeking businesses so he can take cash away

without getting cash from his investments he would not come so far

--------------------------------------------

only modern snowflakes intelectuals sell and move on when not ok with the management.
old school - complain, write, seek change, suggest etc

[mustbefunny] 10/9/2020 14:24

Results day not as important as budget day

[nocents] 10/9/2020 13:59

Unfortunately Astorcourt you are right about Trin’s results drops.
Fanfare then dismay. Some of us are stuck at high breakevens -I know quite a few. But we never ever rely on results if we have any sense.

[astorcourt] 10/9/2020 13:47

I got out just in time. My goodness, history tell us its not a good time to be in trin when it releases results. Always lots of fanfare, but invariably lacking substance, unless you can conjure up some excitement with 50 bpd increase quarter on quarter. lol

[nocents] 10/9/2020 13:40

PB
You speak the truth. Not popular on chatsites sometimes. I’m still a large holder but I know reality and the truth.