Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
China’s oil demand rebounds to pre Coronavirus levels
Https://oilprice.com/Energy/Crude-Oil/Chinas-Oil-Demand-Rebounds-To-Pre-Coronavirus-Levels.html
https://twitter.com/divermla/status/1262144156253724674?s=21
https://masterinvestor.co.uk/evil-diaries/evil-knievil-weekend-punting-medley/
I have registered
Nice £25,000 buy
I can also see significant share price upside to Trinity Exploration & Production (TRIN:12p), an independent oil and gas exploration and production company focused on Trinidad and Tobago (‘Trinity’s value proposition’, 10 September 2019). The company will be reporting its fourth quarter operational update shortly and analyst James McCormack at house broker Cenkos Securities predicts an exit 2019 production run rate of 3,400 barrels of oil equivalent (bopd), up from 3,017 bopd in October, buoyed by new onshore low-cost wells coming on stream.
But Cenkos is only factoring in an average realised oil price of $57 a barrel in its 2020 revenue estimate of $69m, so with WTI benchmark trading significantly higher and only 41 per cent of Trinity’s third quarter output hedged, then the company has material exposure to the higher spot oil price. Moreover, with Trinity’s net funds backing up a quarter of its market capitalisation of £46m, the shares only trade on a cash-adjusted price/earnings (PE) ratio of 7.5 based on a 2020 net profit of $5.5m even though the risk to 2020 earnings is skewed to the upside. Buy.
Https://www.investorschronicle.co.uk/comment/2020/01/06/profit-from-the-surging-oil-price/
hit 3400 bopd and 15p could be next target
500,000 BUY just gone through at 11.50p ???
Persad-Bissessar also laid out a plan to complete ongoing reforms to improve the oil and gas taxation schemes.
She said the UNC planned to enhance the oil and gas taxation regimen to simplify and modernise the production sharing contracts, exploration and production systems.
Https://www.guardian.co.tt/news/kamla-lays-out-big-plans-for-tt-6.2.998309.733dfad791
new investors power point presentation
https://trinityexploration.com/wp-content/uploads/2019/10/Trinity-Shares-Investor-Evening-conference-23rd-Oct-2019vFinal2.pdf
New power point investors presentation
Https://trinityexploration.com/wp-content/uploads/2019/10/Trinity-Shares-Investor-Evening-conference-23rd-Oct-2019vFinal2.pdf
What budget 2020 needs to say
SPT needs to be lowered in order to encourage Heritage, and other oil companies to drill more to increase production
http://www.guardian.co.tt/opinion/what-budget-2020-needs-to-say-6.2.944876.e16e809bcb
http://www.guardian.co.tt/opinion/what-budget-2020-needs-to-say-6.2.944876.e16e809bcb
http://www.guardian.co.tt/opinion/what-budget-2020-needs-to-say-6.2.944876.e16e809bcb
Govt sells refinery to trade union
THE Oilfield Workers Trade Union (OWTU) has won the bid for the Pointe-a-Pierre refinery with a US$700 million offer which Government has accepted, Finance Minister Colm Imbert announced yesterday
Https://newsday.co.tt/2019/09/20/owtu-group-wins-pointe-a-pierre-refinery-with-us700m-bid/
https://www.linkedin.com/pulse/trinity-exploration-update-michael-crilly-2e/?published=t
https://ukinvestormagazine.co.uk/trinitys-offshore-potential/
TRIN H1 results presentation by Jeremy Bridglalsingh, Managing Director & CFO talks through the latest results (half year ending 30th June 2019), released 10th September 2019.
Https://www.piworld.co.uk/2019/09/16/trinity-exploration-production-trin-h1-results-presentation-at-sharesoc/
Trinity all set up.............
Polly Middlehurst
@tellypolly
Hosting another
@proactive_UK
#oilcapitalconference
@theBreweryVenue
in the ??of The City of London
Https://twitter.com/tellypolly/status/1172067327497703430
Spellbrook
@divermla
#Trin cash and growth aim oiler investors event today
Replying to
@divermla
,
@Trinity_PLC
and 5 others
@Trinity_PLC
A very impressive and detailed presentation from Bruce and Jeremy last night. This company is ahead of the game in so many ways and as yet it hasn’t been rewarded by the market. The board has serious skin in the game and it should be noted that Bruce has good form.?
Trinity Exploration & Production achieves 20% earnings growth
Https://ukinvestormagazine.co.uk/trinity-exploration-production-achieves-20-earnings-growth/
Significant upside
Trinity Exploration & Production
Today’s interims are titled ‘strong cash flow and operating margins’ which is an excellent way of summing up these excellent results, and the second half looks like it is going to be better. Production of 3,008 bopd was up 9% on ’18 and will rise in the second half with the resumption of onshore drilling. One of Trinity’s strengths is a very careful management of opex and capex as well of course as effective overall cost control all of which leads to strong cash flow.
EBITDA increased 20% which is a testament to the strong management across the board, a 7% increase in revenue on a 9% increase in production shows for itself despite the oil price drop and quite how profitable the company is. Conversion to cash is also exceptional at over 90% leaving a cash position of $17.8m with no debt. There is no whingeing about SPT, the company is being managed across a broad range of oil prices and the staff at TRIN are constantly being retrained for new tasks.
Production in the 2nd half has already benefited from the 1st infill well and the second well is expected imminently, this of course is the company’s first High Angle Well which has been highly successful. The ultimate success of this well will take some time to fully assess and Trinity is not going to hurry the process, with a different methodology from a traditional well data will be assessed over 3-4 months. As a result the 2H campaign is slated as ‘up to 8 wells’ which may include another HAW but will be done in the right and proper times. Offshore, Galeota continues to move on with discussions between TRIN and Heritage to move this forward.
The major presentation is this evening and I will attend that so should be able to add a good deal more after that, but I am expecting to see detailed analysis of the company’s DNA. In other words it is a full cycle company that is ahead of many other companies in the space. This can be seen by the SCADA system, an approach with Weatherford for production optimisation where, linked to the cloud, data is reported back every 12 minutes and accordingly speeds up or slows down flow. This digital system cuts opex costs, increases production and reserves and again increases profitability.
Trinity can be described as a highly profitable oil company at pretty much any price, it has flexibility to modernise and deliver under most scenarios and at a very high margin, accordingly it is not wrong to say that these results were not by chance, continued investment leads to growth in the production and hence cash flow. I will add more after the presentation but Trinity is in a very good place, it is the share price that is criminally low for a well funded, high margin growth business with significant upside.
Https://www.malcysblog.com/2019/09/oil-price-trinity-solo-cairn-gkp-and-finally/