Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
is that January 2019 or 2020 (lol)
Below was last tears although dated 2nd October , this is this years
https://www.finance.gov.tt/wp-content/uploads/2018/10/BUDGET-STATEMENT-2019.pdf
T&T 2018 Budget Statement - 2 October 2018
Fiscal Reforms
'We have started a review of the energy tax regime in order to simplify and rationalise the terms of both Exploration and Production licenses and Production Sharing Contracts. The main objectives of this reform are to encourage investment in the energy sector and to raise the Government’s revenue-take.
Critical areas being addressed are:
· making the Supplemental Petroleum Tax responsive not to price but to underlying profitability;
· extending the Supplemental Petroleum Tax to gas, which is now the country’s main petroleum product;
· reconciling and simplifying of the fiscal regimes applicable to the exploration and production and production sharing systems; and
· standardising and uniformly applying appropriate royalty rates to all crude oil, condensate and gas.
Negotiations between the energy companies and the Government are well advanced and we expect to be in a position to present the new oil and gas fiscal regime BEFORE THE END OF THIS YEAR'
hTTp://www.finance.gov.tt/wp-content/uploads/2017/10/revised-BUDGET-STATEMENT-2018-BOOKLET-faw1.pdf
It took Finance Minister Colm Imbert exactly three hours to deliver his Budget presentation which ended at 4.32p.m.
THESE ARE THE BUDGET HIGHLIGHTS
The projected revenue for 2018-2019 is predicated on an oil price of US$ 65 and a gas price of US$2.75 per mmbtu.
Imbert said the assumed gas oil price is below the International Monetary Fund forecast of US$70 per barrel and is lower than the current oil price by the World Bank, the United States Energy Informational Administration and the International Energy Agency.
Bases on these assumption, the Government is projecting:
Total revenue: $ 47.724 billion
Oil revenue: $9.518 billion
Non-oil revenue: $35.197 billion
Capital revenue: $3.009 billion
Total expenditure net of capital/repayments and sinking fund contribution: $51.776 billion
The refinery at Pointe a Pierre
Imbert said the size of the company’s employee base in Petrotrin remained in the vicinity of 5,000 divided between the refining and marketing business unit and the exploration and business unit. In addition the Wage Bill amounted to $183 million per month, or $2.2 billion on an annual basis.
In addition to this Wage Bill was the medical plan.
The medical plan was running at an annual cost of $245 million per year but with very low contributions rates by the employees of $50 to $80 per month. What is interesting about this medical plan is that it covers 21,000 present and past employees and their unmarried family members under the age of 21 or if under the age of 23 if still in school. It effectively covers a Petrotrin employee and spouse until death. This has to be one of the most generous medical plans in the country if not in the entire Caribbean region.
pushing hard north today
If TT take lessSPT then so much more exploration which will produce more for TT
Interesting read courtesy of Ross on advfn
http://www.guardian.co.tt/news/energy-chamber-hopes-budget-caters-to-needs-6.2.679507.672ddb2c34
Trinity Exploration & Production
A ‘transformational’ interim from Trinity who reported production of 2,771 b/d in the period, up 16% and revenue growth up 49% at $30.1m. With a 58% increase in EBITDA to $9.3m or $18.6 per barrel, operating break even was $28.50 pb. The cash position is now very healthy, the pro-forma number post the raise is now $19m after the $20m raise after the period end. Production guidance for this year is for an average of 2,800-3,000 b/d and although there is no official guidance for next year I am working on a figure of c. +10%. The medium term target is for 7,500 b/d which would indicate something from the East Coast which is discussed below.
Trinity got to work with the drill bit very quickly and drilled 2 new wells in the period, 7 recompletions and a continuous campaign of 62 workovers and reactivations. Since then they have accelerated their onshore drilling programme with a planned 8-10 wells p.a. which means that the onshore programme will be self funded by 2020 and with continued double digit growth. The East Coast Asset Development continues and the company are reworking the TGAL FDP which offers the chance of a ‘step-change’ in production in the medium term.
Trinity are in a very strong position to outperform within the sector, they offer a stable and well funded platform for growth with ‘significant reserves and resources’ able to provide a meaningful period of growth in the short, medium and long term. The company have worked as hard as anyone I know in the industry to reduce costs over recent years and have an underlying very low, fixed cost base which contributes to those high margins. Finally, It is worth noting that the management have 24% of the equity in the company which means that they are more than usually aligned with the other shareholders in Trinity.
https://www.malcysblog.com/2018/09/oil-price-trinity-exploration-production-president-energy-tullow-oil-and-finally/
Oil $72 more and more TRIn $$$$$
22900
that chart looks amazing
400k
Jfk9. Email. nick.rome@walbrookpr.com
Regards
Spellbrook
6 Trading days to go....Whose going ???
I have added you to the list of attendees and look forward to seeing you on Monday 24 September.
The event will be held from 16.30 for a 16.45 start at Cote Brasserie in St Paul’s, 26 Ludgate Hill, London, EC4M 7DR.
Investor Briefing, on Monday 24 September 2018
A presentation will be given by Trinity Exploration and Production (AIM: TRIN) Executive Chairman Bruce Dingwall, and Chief Financial Officer Jeremy Bridglalsingh commencing at 16.45, after which there will be an opportunity for questions.
The presentation will include an overview of the Company’s half year results and an outline of its strategy to deliver value for shareholders. This will be followed by drinks and an opportunity to network.
oil pushing $70+ more TRIN $$$$$$$$$$$$$$$$
you have £100,000 sitting in your bank account, what do you do with it ??
Buy 500,000 TRIN shares at 20p ?
Hmmmmmm not on a whim ?
I think theres a lot more to be revealed ???