TRINITY Exploration - (TRIN) - A great VALUE spec for 2024...
Posted: January 7th, 2024, 10:37 am
The shares of TRINITY Exploration (TRIN) are absurdly cheap at 43p after a 62% fall in 2023 – perhaps like many on AIM. The MCap of a mere £17m needs to be weighed against Operating Revenues of $12m for 2023 & a likely $15m/$16m for 2024, thanks to the Trinidad & Tobago government confirming last week the withdrawal of Supplemental Petroleum Tax, as an incentive to the Oil/Gas industry.
Oil flow is steady at c2900Bopd and there are many ongoing projects likely to increase that figure this year. They are already paying a dividend of 1.5p/annum, so the valuation has totally lost touch with reality. I expect a rapid recovery to 60p at least in Q1’24.
Further sharp upside would be triggered if they announce a sale or farm-in for their prize asset – the offshore Galeota field. That alone could be worth 175p/share – as detailed in this excellent piece below:
https://andrewbyles.blogspot.com/2023/1 ... n-and.html
https://trinityexploration.com/
Oil flow is steady at c2900Bopd and there are many ongoing projects likely to increase that figure this year. They are already paying a dividend of 1.5p/annum, so the valuation has totally lost touch with reality. I expect a rapid recovery to 60p at least in Q1’24.
Further sharp upside would be triggered if they announce a sale or farm-in for their prize asset – the offshore Galeota field. That alone could be worth 175p/share – as detailed in this excellent piece below:
https://andrewbyles.blogspot.com/2023/1 ... n-and.html
https://trinityexploration.com/