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TRINITY Exploration & Production - seriously undervalued

SKYSHIP
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TRINITY Exploration & Production - seriously undervalued

#450794

Postby SKYSHIP » October 17th, 2021, 2:13 pm

Trinity Exploration & Production (TRIN:155p), is an oil/gas exploration and production company in the highly productive region in and around Trinidad and Tobago (“TT”). With substantial onshore assets funding both onshore and offshore exploration, TRIN has a large number of ongoing projects nearing development. The Company has plenty of cash to fund development; and this year’s strength in oil/gas prices promises to double operating profits from existing production.

The TT government is highly supportive of the hydrocarbon industry as they wish to develop the tax base as swiftly as possible, whilst providing every incentive to both existing and new players.

If you have access to Cenkos reports, then do read there. They target an sp of c350p.

For background facts I could paraphrase Simon Thompson’s (IC) articles, but surely better just to read the Company’s detailed update of 14th October (see Advfn link below) and read through the website presentations:

https://uk.advfn.com/stock-market/londo ... n/86281016
https://trinityexploration.com/investor ... entations/

Throughout your research keep a particular eye on the “Galeota” prospect which now has 2C reserves of 31.06 mmbbls. A Farm-down to bring in a partner with deeper pockets starts next month; targeted for completion within 6-9 months. Personally I expect a rather quicker result as their relationship with Cairn Energy surely makes them the logical partner.

TRIN has a MCap of a mere £61m; has £15m in Cash; has prospects galore which are approaching development at a time when prices are rising and the World, inc. the Green Lobby, is aware that hydrocarbons will have to be with us for decades to come.

IMO TRIN are seriously under-valued; and even at double today’s price they would still be a VALUE play in the oil/gas sector.

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