Good reading this morning5 Feb 2018 13:56
Thank you GO for the note and update.
A couple of points, which have probably already been discussed at length immediately jump out on first reading....
should generate meaningful cash flow over the next 12 months (we estimate 2017 operating CF pre WC of $9.9m, rising to $15.3m in 2018)
-- Probably $20 to $25M given the updated oil price.
net 2P reserves of 18.7mmbls, 2C resources of 21mmbls, and net production of c2.4kbopd, which is expected to grow to c3kbopd from a very restrained capex programme over the next 12 months.
-- If circa 3000bopd now then are we looking at 3.5 to 4Kbopd before drilling Trintes?
Trinity will commence a drilling programme on the Trintes field, which we estimate could add c3kbopd to production in the medium term. Currently this is expected to commence in early 2019.
-- Definitely on target to clear CLN's by the end of year '18. I wonder if they will clear the last of the tax debts After the results and give themselves "a little more time" to prepare for the CLN's on the QT??
Progress on TGAL: ..... Management is currently reviewing the strategic options, which could include debt or equity financing, or farm-out.
I wonder if that is why they are talking to the instis this month?
We estimate that in order to meet our assumed production targets and pay back the Convertible Loan Note (CLN) and outstanding liabilities, a WTI oil price of at least c$50/bbl is required in 2018.
-- Ahem.....
Publicly listed company on the LSE 14 February 2013
-- My Birthday......!!
That is one heck of a lot of talent on the bod......
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