Trinity Exploration & Pr... Share Discussion Threads

[spellbrook] 07/10/2020 15:06

SLOWLY , SURELY, NO DEBT

[nocents] 07/10/2020 14:11

Positive thing is that Q3 update should be very good indeed. No SPT. $20+ breakeven and actual realized price of oil at about $38. No ppt no drilling and extra capex . No insurance as in Q1. Minor royalties and unemployment tax. That’s quite a lot of cash generated.
Until today I have been very downbeat but the removal of SPT changes the game. WTI is eroding US shale. Only the Permian is just about viable at $39. Bank foreclosures in covid times must be immense. The govt. has just signed off another $1200 paycheck to each household and is artificially supporting other areas. Shale is too expensive. Hence a WTI kickback is likel on the cards after the winter of our covid discontent( but imo not before)
Trin can now start that step-change little by little. And Tgal 2023 production is stil om.

[wwick] 07/10/2020 13:08

"However, another former energy minister, Kevin Ramnarine, believes the industry will welcome changes in the SPT. He said the Government should have brought these changes four years ago when petroleum prices were higher.

“We also have to focus on increasing oil and gas production and the revision of the SPT can go a long way to helping with attracting investment with increased oil production,” Ramnarine said."

[mark10101] 07/10/2020 13:00

Slow burn but market is waking up to a TRIN with no SPT, on a risk reward bases what is the downside here, a few pence if we get another crash in oil, but multiples if oil creeps higher. Throw in Bruce and the team delivering on some of the multiple opportunities they are pursuing and things could turn around quickly here.

[wwick] 07/10/2020 12:46

otemple3 30 Sep "Had a little top up at 9p - let's just hope the T&T government don't follow their previous form next week!"
Nice move ;-)

[spellbrook] 07/10/2020 12:26

LICENCES = whole different ball game

[spellbrook] 07/10/2020 12:04

Dont Forget This Man.............Here to do a job

Exploration and production firm Trinity named Edouard Brain as its next chief financial officer on Monday.

Brain will take over from CFO and managing director Jeremy Bridglalsingh on 14 September, at which time he will begin to concentrate solely on his role as MD of the AIM-listed group.

Prior to joining Trinity, Brain spent more than 18 years in finance roles at both public and private oil and gas business, most recently serving as Latin America CFO for French-listed firm Maurel & Prom.

Chairman Bruce Dingwall said: "Edouard joins Trinity at a significant milestone where we are focused on delivering a step-change in the scale of our business and we look forward to his contribution to a strengthened leadership team on delivering on our growth aspirations.

"Edouard's appointment also allows Jeremy, in his role as managing director, to apply even greater focus to the overriding target of scaling the business and delivering shareholder value."

[spellbrook] 07/10/2020 11:59

Tweet

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Trinity E&P
@Trinity_PLC
#TRIN,
@Trinity_PLC
notes the Government of Trinidad and Tobago's proposed changes to the Supplemental Petroleum Tax, aimed to encourage investment and job creation for small producers and mature fields:

[archie61] 07/10/2020 11:57

nocents I nearly crashed the Skoda!
Finally you’ve seen the light.
A nice steady rise to 15p for starters
GLA

[spellbrook] 07/10/2020 11:55

Tweet
Trinity E&P

@Trinity_PLC
#TRIN,
@Trinity_PLC
notes the Government of Trinidad and Tobago's proposed changes to the Supplemental Petroleum Tax, aimed to encourage investment and job creation for small producers and mature fields:

[nocents] 07/10/2020 11:46

I would now see this as the start of a genuine recovery of the share price. Not linear but significant.
I do not normally speak about the share in this way. I never ramp. And I mean it.

[spellbrook] 07/10/2020 11:35

Licences = BOOM

[mark10101] 07/10/2020 11:31

The market is just not getting the significance of today’s RNS, TRIN has the ability to avoid all SPT, a massive uncertainties is removed and allows easier forward planning and hedging. Longer term larger projects can be negotiated with the government to determine agreeable terms for all parties. TRIN is no longer stuck wading in treacle!

[nocents] 07/10/2020 11:27

I am encouraged for a change.
All Trin licences should now be SPT free. In 2 years the change is likely to continue. They do not go back on these things.
Tgal is still on the cards. It can be negotiated with the govt. licences can be sub 2000 or any other tweaking. Ultimately the govt. are trying to ensure BP and BHP still will pay full tax but smaller operators not so that oil production will increase without loss of revenue. Govt. seems serious in this-a change of tack.
Jubilee ( offshore) becomes more attractive if split into small licences.. MOU still stands.
B/e at $20 still the intended goal.
Q3 results due within a week with a hopeful update. Hedging assisted. Hedging is important.
No drilling this year. Will resume 2021. Bopd looks likely tonincrease significantly 2021 and also market confidence-all being well.
This is actually a meaningful step-change in govt. approach to oil growth which as the RNS states will include all licences individually.
12,000 onshore bopd not bad if spt never applied.
A great encouraging RNS.
Aim-_Mafia...did you sell? I’m gutted if you did.

[spellbrook] 07/10/2020 09:36

with quite a few exiting yesterday and MT , we can hopefully move on to double digits soon and have the results and MORE CASH to look forward to

[pavey ark] 07/10/2020 08:49

Very obviously a fantastic announcement.

SPT has now effectively gone and I said that when both manifestos were produced.
It's one thing to introduce a tax and then act as though it's really nothing to do with you, let things slide, forget about it....."just one more year of a money grab then we'll do something about it"....but...it is an entirely different thing to introduce/reintroduce a tax and THEN see your oil industry go down the pan.

Oil production will rise as will relative revenue rates albeit from $40 oil but still much more than they are getting now.

For me the most interesting part was:
"In addition, given Trinity's low cost base, balance sheet strength and operational expertise, the Company is extremely well positioned to act as a consolidator of further small fields in Trinidad & Tobago. This budget change is highly encouraging for Trinity as it looks to broaden its portfolio with bolt-on acquisitions and new licence awards."

Reading between the lines I thought they had gone off buying "distressed" onshore assets but it looks like they are up for it

With the cash they can get from selling 25%-30% of TGAL to Cairn and the large cash pile they have then these additions plus drilling would rapidly ramp up onshore production.

A deal with Heritage over the Jubilee field would encourage them to develop their very ripe west coast assets and of course TGAL is still very much on schedule with the government looking amenable to negotiations that would move it along.

[walterwhite1] 07/10/2020 08:43

Does this now bode well with regards the MOU with Cairn??

[walterwhite1] 07/10/2020 08:36

Well this now looks very positive and Bruce seems very happy! Wasn’t hugely impressed on budget day but my apologies as I got it wrong!
Onwards and upwards we go :-)

[archie61] 07/10/2020 08:19

wwick, That’s game changing for TRIN.

[kaos3] 07/10/2020 08:04

do the new rules enable individual approach and judgement and enables corruption is what I first look at when a new regime/law.

lots of details?

we will see

[mark10101] 07/10/2020 08:04

AM, you are joking? That is the most significant RNS since I have been holding TRIN.

I think TRIN is massively devalued due to the spectre of SPT kicking in at any point oil gets close to $50, a massive massive cloud has been removed from TRIN.