Trinity Exploration & Pr... Share Discussion Threads

[galaga] 06/10/2020 13:49

HH thats not the Q he answered..he only answeres two on the stream. He was asked why he thought this time around the SPT was gonna be reformed when the Govt have promised this before (2018) and went back on this promise. His reply was ‘because in all my years ive never seen BOTH parties include this in their manifesto as they have this time around which shows how important it now is’ (words to that effect as I dont recall the exact answers)

[aimmafia] 06/10/2020 13:25

Yes but the problem is the 2000 bopd- that is stupid. Why not make it 10,000 bopd....

[galaga] 06/10/2020 13:06

Bruce was expecting more from the Govt in regards to SPT and this showed in thier recent presentation...also in that Q&A he answered a question in regards to SPT reform in the budget saying pretty much that he expects positive changes this time around..ok, they did what they said they would but no doubt Bruce was expecting more.

[wwick] 06/10/2020 11:55

"Madam Speaker, we will embark on a dynamic exploration and drilling
campaign in the onshore oil sector for the creation of jobs for boosting
economic activity and for increasing oil production. We propose to increase
the threshold for the imposition of the Supplementary Petroleum Tax (SPT)
for small onshore oil producers to $75 per barrel, up from $50 per barrel,
for fiscal 2021 and fiscal 2022, in the first instance, subject to a review in
2022. This measure will take effect from January 1, 2021."

[wwick] 06/10/2020 11:53

ross, good point, extract from the budget statement:
"We are keenly focused on improving the investment climate in the energy
sector through a review of the Petroleum Taxes Act with a view to
simplifying the existing oil and gas fiscal regime and making it more
competitive to investors. We are also reviewing the application of the
Supplemental Petroleum Tax (SPT), particularly for small producers and
mature fields with a view to encouraging investment and job creation; the
threshold for the imposition of the SPT for small onshore oil producers will
be increased to $75 per barrel for fiscal years 2021 and 2022 in the first
instance, and will be reviewed for continuation at this threshold level at the
end this 2-year period."

[bad gateway] 06/10/2020 11:52

Thanks ross. I took this from ab76's last post on lse and they seem to be confirming 2k is the limit for a small producer in Trin at the mo..

"For now Trinity is a small producer as far as SPT is concerned as it has onshore production of less than 2,000 bpd. The FM said that was the provisional figure and that there would be further consultation before it was confirmed. It may increase."

[aimmafia] 06/10/2020 11:47

Well I can sell 300k in one go....

[bad gateway] 06/10/2020 11:38

I just asked the same question in a different way so seemed a bit redundant ross.
Would be good to know if this 2k is the accepted limit of a small onshore producer in trin though otherwise we may have jumped the gun?

[astorcourt] 06/10/2020 10:53

Mount Teide, don't forget to close out jadestone and touchstone as well.

[aimmafia] 06/10/2020 10:50

Good luck mate

[mount teide] 06/10/2020 10:48

For the sake of transparency, closed out my position over the last week.

Good luck to all holders!

[aimmafia] 06/10/2020 09:43

The news was totally unrelated to SPT, I never said it was. I did say in a previous post from what I heard that SPT was not on the agenda and it pretty much wasn't other than what was already mentioned.Hows your deramping going? Why are you on a board when you cant afford to buy any shares? It doesn't make sense. Youre like a very bad smell.

[nocents] 06/10/2020 09:16

OT
Appreciate the sound positivity.
Glad you still here.
Have to admit that govt. left me taken aback by their even more profound ineptness though. And dishonesty. I do not belive the govt. wll go further so this puts Tgal into doubt IMO. Onshore at low breakeven may be way forward.
Spoke been put in wheel though-hence selling today. I hope Trinity has a plan to grow with SPT as a constant now.
(no point responding to other predictably unintelligent post)

[otemple3] 06/10/2020 09:04

Think everyone stopped bickering so not a lot to add. Nothing gained from the SPT announcement in the short term but have to wait to see if they go further.Still cheap, safe and awaiting a major catalyst....

[aimmafia] 06/10/2020 09:04

Didn't take long. His back whinging

[nocents] 06/10/2020 08:56

Is this thread live or are there no investors left?