Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
RNS - Investor Presentations
Trinity, the independent E&P company focused on Trinidad and Tobago, announces that the Company will be presenting at the Mello Investor Event on Thursday 16 May 2019. The event will be at the Clayton Hotel Chiswick, 626 Chiswick High Road, Chiswick, London, W4 5RY. Executive Chairman Bruce Dingwall will be presenting to delegates at 09.15.
Regional Presentations
The Company will also be presenting at ShareSoc's regional events in Birmingham and Manchester. The Birmingham event takes place at Clayton Hotel Birmingham, Albert Street, Birmingham, B5 5JE and commences at 18.00 on Tuesday 25 June. The Manchester event will be the week later on Tuesday 02 July, commencing at 18.00 at the DoubleTree by Hilton Hotel, One Piccadilly Place, 1 Auburn Street, Manchester M1 3DG.
HAW could increase Trinity BOPD substantially
One type of directional drilling, horizontal drilling, is used to drastically increase production. Here, a horizontal well is drilled across an oil and gas formation, increasing production by as much as 20 times more than that of its vertical counterpar
Https://www.rigzone.com/training/insight.asp?insight_id=295&c_id=
https://walbrookpr.com/investors/pdf/TrinityExploration-factsheet.pdf?v=250419
Https://walbrookpr.com/investors/pdf/TrinityExploration-factsheet.pdf?v=250419
Think its a bit of everything
there it is
Trinity Exploration & Production
Hot on the heels of the results comes a Q1 update but with such detail only recently there is little new news. Production remains in line with guidance, a very impressive y/y rise of 11% and volumes for the remainder of 2019 will obviously depend on success in the drilling programme. This includes 8 new wells including 1 HAW and at least 7 RCP’s and whilst results from the HAW’s are yet to be known the company is exuding confidence of increases in production rates and reserves of over 2X conventional vertical wells.
Trinity remains in a very strong position, it has cash of $12.3m and you can add to that the Petrotrin receivable of $2.6m which is expected imminently. This strength gives the company the opportunity to deliver continued high margin production growth through innovative horizontal drilling at highly cost effective rates. Shareholders should be pleased with how well TRIN is progressing.
Https://www.malcysblog.com/2019/04/hurricane-trinity-hunting-serica-enteq/
http://www.guardian.co.tt/news/heritage-has-been-operationally-profitable-6.2.824225.4c9a53103d
the odd numbered seller is relentless
Hi Gabriel
did you glean anything of any note from last night ?
Regards
Trinity’s low-cost production boost to 2019 profits
Simon Thompson
Freed from financial constraints following a debt restructuring last year, Trinity Exploration & Production (TRIN:14p), an independent oil and gas exploration and production company focused solely on Trinidad and Tobago increased average net production by 14 per cent to 2,871 barrels of oil per day (bopd) to account for 5 per cent of the country’s oil output.
Capital expenditure (capex) rose four-fold to $12.5m in the 12-month trading period, reflecting investment in eight new onshore development wells, of which six were drilled in the fourth quarter, and a low-cost ongoing programme of 143 workovers, 17 recompletions, reactivisations and swabbing across a portfolio of 1,094 wells, a fifth of which are currently active. Onshore production increased by 16 per cent to 1,563 bopd and is highly profitable with an operating breakeven of $16.10 a barrel. Trinity also undertook its first offshore recompletion since assuming operatorship in 2013, and successfully so. Trinity’s East Coast offshore production increased by 15 per cent to 1,110 bopd.
Group operating break even of $29 per barrel was half the realised oil price of $59.8 a barrel. So, with output rising, this meant that after accounting for supplemental petroleum tax (SPT) which is paid when the oil price rises above $50 a barrel, adjusted cash profit increased by more than a fifth to $12.8m on revenues of $62.5m. This is stated before deducting non-cash depreciation, depletion and amortisation charges ($10.7m), hedging costs of $1.1m (which have now been exited), and a $700,000 charge for share based payments. After all these charges, Trinity reported a small operating profit of $277,000.
But the operational leverage of the business should really kick in this year if Trinity’s management team, who own 23 per cent of the equity so are well incentivised to ratchet up output further, lift average output to 3,000 bopd as they are guiding investors to expect. Finance director Jeremy Brisglalsingh is forecasting capex of $8m to $10m this year, a sum covered by house broker Cenkos Securities’ operating cash flow estimate of $15.4m.
Moreover, based on an average oil price of $65 a barrel, and a 14 per cent surge in 2019 production, analyst James Mccormack at Cenkos is pencilling in a 14 per cent rise in revenues to $71.1m to drive operating profit up by 80 per cent to $12m. That’s before accounting for a slightly higher SPT charge of $7.4m.
It’s worth noting that chief executive Bruce Dingwall told me during our results call that Trinity is targeting higher angle or directional wells which could double initial production rates and improve Trinity’s return on capital. The company is also making solid progress with its TGAL field development plans to exploit the reserve potential of the offshore Galeota Block which has 700m barrels of oil in place.
Trinity’s share price is unchanged from when I last suggested bu
Https://www.malcysblog.com/2019/04/trinity-rockhopper-pantheon/
Trinity E&P
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@Trinity_PLC
23m23 minutes ago
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@Trinity_PLC #TRIN Whitman Howard suggests 32p TP reiterating its BUY recommendation given strong operating metrics, visible and funded growth plans, strong balance sheet and undemanding valuation.
$62 nearly out of the death zone
WTI movng north, should be out of the death zone soon
Expecting an update from Simon Thompson @ Investors Chronicle
Https://www.investorschronicle.co.uk/week-ahead/2019/03/28/week-ahead-1-5-april/
Oil Prices Shoot Up On Large Inventory Draw
By Irina Slav - Mar 20, 2019, 9:48 AM CDT
A day after API’s estimate of another weekly crude oil inventory draw in a row sent WTI higher, the Energy Information Administration confirmed a large draw, at 9.6 million barrels for the week to March 15.
The authority said crude oil inventories stood at 439.5 million barrels at March 15, slightly below the average for the season.
In gasoline, the EIA reported a draw of 4.6 million barrels for the week to March 15, unchanged from a same-size draw a week earlier. Gasoline inventories have been posting hefty declines for three weeks in a row now.
In distillate fuel, the authority said inventories had shrunk by 4.1 million barrels, compared with a small build of 400,000 barrels in the prior week.
Refineries processed 16.2 million barrels of crude daily last week, the EIA also said, which compared with 16 million bpd a week earlier. Gasoline production averaged 9.9 million barrels daily, versus 9.7 million bpd a week earlier, and distillate fuel production averaged 4.9 million bpd, virtually unchanged on the previous week.
The EIA’s report will certainly help crude oil prices recover some of the losses they suffered yesterday after the brief spike following API’s report as worries around the U.S.-China trade deal deepened. What’s more, U/S. shale producers began hedging their future output to capture relatively higher prices, which also pressured West Texas Intermediate.
While OPEC’s production cuts is providing fuel for prices to climb higher, as is concern about supply from sanction-hit Iran and Venezuela, U.S. production has continued to act as a headwind for benchmarks, and so have expectations of slower demand growth resulting from weaker global economic growth this year.
At the time of writing, Brent crude was trading at US$67.37 a barrel and West Texas Intermediate was changing hands for US$59.10 a barrel, both down from opening this morning.
By Irina Slav for Oilprice.com
Https://oilprice.com/Energy/Energy-General/Oil-Prices-Shoot-Up-On-Large-Inventory-Draw.html
need to take out 16p
The Trinity Story and 35 Years of Building Companie
Thursday, 11 April 2019, 6 p.m.,
Royal Scots Club, 29 Abercromby Place, Edinburgh, EH3 6QE
Http://www.scottishoilclub.org.uk/events_upcoming.htm
break through 16p and we are off again imo