Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Chart looking fantastic
they want your shares, can sell 150,000 on line at 20p
going higher imo
Why oil prices will not cool down, but only go up
Https://economictimes.indiatimes.com/markets/expert-view/oil-price-is-not-going-to-cool-down-it-will-only-go-up-rs-sharma/articleshow/65765670.cms
mm`s played that well
Directors purchase maybe ???
Trinity Exploration & Production hails Trinidad production milestone
05 September 2018, 08:32Source - SMW
Trinity Exploration & Production said barrel number 30 million had recently been produced from its Trintes field offshore Trinidad.
Trintes was currently producing over 1,000 barrels of oil per day through artificial lift, including electrical submersible pumps and progressive cavity pumps technology.
The field was profitable, the company said, with operating costs of $18.90/bbl and an operating break-even of $24.90/bbl.
'The quality of this asset and our wider offshore portfolio provides us with significant medium to long-term growth opportunities in addition to our proven onshore strategy,' executive chairman Bruce A. I. Dingwall said.
At 8:32am: (LON:TRIN) Trinity Exploration Production share price was -0.45p at 18.45p
Https://www.sharesmagazine.co.uk/news/market/6115965/Trinity-Exploration-Production-hails-Trinidad-production-milestone
20p paid
A patriot tax for Petrotrin
WAYNE KUBLALSINGH
THE GRAND predecessors of Dr Keith Rowley have committed some epic economic blunders.
1. The abrupt truncation of the train economy. This results today in a savage, wasteful and all-consuming internal gas combustion economy, which, via the consumption of forex, our health, our ecology, our basic incomes and our time, gridlock and traffic, threatens to take us to hell in a coconut shell.
2. The introduction of a mega-school economy. The senior comprehensives and junior secondaries, shift system schooling, which, when adopted was known to be failing in the UK, trapped students, parents and education administration in an ungovernable mess, detrimental to proper administration and the health and well-being of teachers and the child.
3. The Master Gas Plan of 2001. This neo-liberal plan failed to correctly assess the gas situation in the republic to forecast the 2007 global recession, and wasted millions of dollars in pursuing a series of 14 heavy gas-based mega industries, four industrial estates, mega highways. Petrotrin/Government capped scores of oil wells for the collapsed Debe to Mon Desir highway.
4. The failure to use the rich assets of Caroni (1975) Ltd. The government failed to use Caroni’s 77,000 acres of port land, research and technical assets, its expertise and labour, its agrarian, horticultural and diary projects to lever a diversified economy. It had promised to keep the Usine St Madeline plant going, with a brace of small independent sugar farmers; but all ingloriously fell apart, some of the land and assets cannibalised by party favourites.
5. The Jones phenomena. Jones and the master energy technocrats and bureaucrats, aided and abetted by economists, with little understanding of macro-economics, bust Petrotrin. The lack of procurement, and geotechnical supervisory and monitoring expertise in WGTL, ultra low sulphur, the CCR Unit, the oil recovery project in Soldado, plunged Petrotrin into deep debt. This came on the back of a general failure to win new oil, asset degradation, a flinching approach to labour, and closure of valuable assets (the Texaco Star and Chatham Farm, horticulture).
The Petrotrin situation is complex, not irremediably complicated. On the following, the immediate stakeholders are not in severe disagreement:
1. Deep restructuring is necessary.
2. Land and sea technologies, expertise will need to be commandeered for efficient oil recovery.
3. The refinery plants have a future, now or in the medium or long term. Much of the technology is recent and competent. No one has advocated for the mothballing or cannibalisation of the plants.
4. The Government, management and labour need to severely manners themselves to meet the optimal needs of the industry.
5. Government finances are hard done by Petrotrin’s mismanagement debts.
6. The entire imbroglio has been propagandised, politicised, and personalised.
TT cannot any longer be com
Trinity Exploration & Production
05 September 2018
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Barrel Number 30 million produced at Trintes Field
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, is delighted to announce that Barrel number 30 million has recently been produced from its Trintes Field offshore the East Coast of Trinidad ("Trintes" or the "Field").
Trintes is currently producing over 1,000 bopd through artificial lift including ESP (electrical submersible pumps) and PCP (progressive cavity pumps) technology. Trinity is a leader in using these artificial lift technologies offshore Trinidad and Tobago. The Field is profitable with operating costs of US$18.9/bbl and an operating break-even of US$24.9/bbl (2017) and the Company remains excited by development opportunities.
Prolific Basin with Strong Producing History
Trintes came into production in 1971 and is located on the south west end of the Galeota Anticline offshore the East Coast of Trinidad. The Field, which contains four platforms, is 12 km from our shore base in 80' of water. The Field, and indeed whole of the Galeota Anticline, is comprised of high quality vertically stacked sandstone reservoirs that contain good quality 26 API oil.
The definition of the Galeota Anticline from a geological structural standpoint and its relationship to previous wells, including the successful TGAL-1 exploration well drilled by Trinity in 2013, has only recently been understood through the re-processing, re-interpretation and re-integration of that data set into our new subsurface model. That model defines a STOIIP for the entire Galeota Anticline of 700 mmstb of which the Trintes Field occupies 200 mmstb of that total.
Significant Potential for Future Development
Having operated the Field for the last five years, the Company's understanding of the reservoir, its distribution, production behaviour and potential drilling challenges will be invaluable in its planning process to take the remaining 2P reserves and 2C resource base forward across the Galeota Anticline.
To that end the Company is working on a phased and innovative approach to further development which may involve, in the first phase, a low cost minimal facilities platform, a lightweight drilling solution and the possibility of electrical power from the shore (currently offshore diesel generator sets). This approach is aimed to drive down capex and opex and therefore increase returns to the Company whilst minimising risk. The work on the Development Plan is well underway and the Company will update the market as and when appropriate.
Bruce A. I. Dingwall CBE, Executive Chairman of Trinity, commented:
"We are delighted that this milestone has been reached. The Galeota licence and the Trintes Field are of significant scale and importance to the Company and to Trinidad and Tobago. The quality of this
great volume
LONDON (Reuters) - Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
Https://www.reuters.com/article/us-global-oil/oil-prices-jump-as-gulf-of-mexico-rigs-evacuated-idUSKCN1LK028
Whitman’s top pick (M&A and new licence awards ????)
Trinity Exploration #TRIN $TRIN named a top pick by Whitman Howard, highlighting re-rating opportunities: i) A revised FDP for East Galeota ii) Possible SPT reform iii) quarterly production updates iv) M&A and new licence awards v) sale of WC assets vi) reserves upgrades
Looking forward to the September Interims......
Bruce A. I. Dingwall CBE, Executive Chairman of Trinity, commented:
**"We are delighted to have commenced these new drilling activities onshore Trinidad
**with the spudding of the latest well in our plan so soon after raising new equity capital and becoming debt free.
**We have established a stable and well-funded profitable production platform and are ideally positioned to continue growing production, cash flow and shareholder value with this accelerated infill drilling programme.
**With peer leading break-evens and plans to increase production we can grow profitability in the short-term whilst working up a further step-change from future developments both onshore and offshore in the medium to long term.
**The landscape is changing rapidly in Trinidad and we look forward to updating the market with further developments."
Where has he / she gone
$TRIN - onshore drilling resumes with the first well of a six well campaign having spudded on Sunday. Full RNS: bit.ly/2PfP0N4. Share price up 1.78% to 17.10p. Whitman Howard publish BUY note with a target price of 33p
September interims should tell us much much more, we are now in better shape than ever
Https://uk.advfn.com/stock-market/london/columbus-energy-CERP/share-news/Columbus-Energy-Resources-PLC-Petrotin-Restructuri/78154408
COLUMBUS ENERGY RESOURCES PLC
("Columbus" or the "Company")
Petrotrin Restructuring
Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, provides the following update about the restructuring of the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") which was announced on 28 August 2018, which Columbus believes will have no negative impact on its Goudron operations.
The planned restructuring of Petrotrin's operations include the announced future closure of their oil-refinery operations at Point-a-Pierre and a restructuring of their exploration and production business and it is planned that the transition to this new model will begin in October 2018. The restructuring plan is geared towards curtailing losses at the State-owned oil company and steering it on a path towards sustainable profitability. As Petrotrin exits the oil refining business, it intends to re-design its exploration and production operations. It is proposed that refining of oil will be phased out as the re-structuring plan is rolled out, with all of the Company's oil eventually to be exported for processing at other international facilities.
At present Columbus sells oil produced from its Goudron operations directly to Petrotrin "at the Goudron site gate" via marketing arrangements associated with the Incremental Production Service Contract between Columbus and Petrotrin. Columbus believes that the proposed changes will have no impact on its Goudron operations as the marketing arrangements will not change and the Company does not interact directly with the refinery. Columbus currently receives an oil price, as calculated by Petrotrin on a monthly basis, after taking account of various factors, including refining and other costs, with the oil price received by Columbus from Petrotrin tending to range at a discount to WTI (West Texas Intermediate) of between 4-6%. The Company will continue to sell production to Petrotrin under the existing contracts, however, rather than selling to the refinery, Petrotrin will export the product at world pricing. This could possibly benefit Columbus in the future as the Company does not currently receive any premium to the oil price it receives from Petrotrin, despite the fact Goudron oil has an API of approximately 38 API, which places it at a higher value than average Trinidad crude oil.
Columbus recognizes that Petrotrin has to be structured for profitability and the losses currently being seen at the refinery are un-sustainable into the future. The Company believes that the decisions announced yesterday will benefit Trinidad and Tobago in the long term, whilst recognizing that this will cause difficulties for many Petrotrin employees in the short-medium term. It is in everyone's interests that Trinidad has a strong an
Http://www.guardian.co.tt/news/2018-08-28/company-seeks-reinvent-itself
Nice am volume this fine Friday , perky oil, September update will soon be here
All directors % holdings reduced due to more shares being issued
Trinity Exploration & Production
Trinity has announced that following repayment of government debt a couple of weeks ago and now repaying the CLN it is debt free. Given the problems Trinity has faced this is a quite remarkable achievement. The company are now in the rare position for an Aim E&P of being debt free, cash in hand and with what is now one of the lowest G&A’s in the sector. Trinity’s model of high margin operations gives them an enviable level of profitability and considerable growth opportunities in the portfolio .
Having reorganised the finances in July Trinity has already got to work on the drilling programme with the construction of locations undress for 4 new wells as part of a 6 well campaign which will make 8 for the year. Excellent relationships with local regulatory bodies and supply chain companies has meant that this programme was initiated so quickly. Investors should not forget that the potentially game-changing Galeota field development is still being processed in the background.
Today really does mark a massive degree of progress for the company which is now primed to deliver production growth and cash flow in both short, medium and long term. With its lean cost base being less than almost anyone I know the margin will rise and so will profitability. Trinity brings together the reserves, resources and production metrics that should give it an EV premium to most in the sector and today that rerating process should begin.