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Trinity Exploration & Production (TRIN)

Trinity Exploration & Production (TRIN) at Sharesoc growth seminar November 2017

15 November 2017

Trinity Exploration & Production (TRIN)

CEO Bruce Dingwall

c. 40 minutes

Trinity Exploration & Production plc is an independent oil and gas company focused solely on Trinidad & Tobago. The Company operates a portfolio of producing and development assets both onshore and offshore, in the shallow waters West and East Coasts of Trinidad. The Company operates through the segment of production, development and exploration and extraction of hydrocarbons. It operates in Trinidad & Tobago with assets onshore and offshore the East and West Coast. The Company holds approximately 100% interest in the exploration license for the Pletmos Inshore block, which covers an area of approximately 11,000 square kilometers. The Trinidad & Tobago is a prolific hydrocarbon basin. Trinidad & Tobago offers a fiscal regime and regulatory environment. The Company’s total average net production is approximately 2,900 barrels of oil per day (bopd). All non-current assets of the Company are located in Trinidad & Tobago.

Introduction to Bruce Dingwall – 00:38
Trinidad and oil production – 02:22
Trinity’s oil fields – 03:30
Trinity’s law and national landscape – 04:13
Corporate snapshot – 05:47
Who are we? What do we do? – 06:54
Trinity’s reserves – 09:18
Oil production in 2017 – 09:40
Trinity’s key metrics – 13:45
EBITDA margin: 27% – 14:42
Cost base down 57% since 2014 – 15:48
Peer group comparison – 16:44
H2 2017: increased work programme – 17:46
Momentum – 18:33
2018-19 outlook – 23:20
Margin comparison – 23:55
Summary – 24:19

Q&A
Why is the share price so undervalued? – 25:05
What’s the likely CAPEX over the coming years? – 27:54
Could you explain how the tax and royalties work? – 29:50
Why has it taken so long to get to cash flow positive? – 32:06
What is your dividend policy? – 33:55
What are institutions asking for Trinity to achieve before they take a stake? – 24:25
Why is the share price so low, what do you need to do? – 36:05
Why is the performance not consistent? – 37:25
With the history of Venture Productions, who has stayed with you? What are your plans? – 38:09

 

Presentation slides can be viewed here.

For more information about ShareSoc and the benefits of being a member click here.

 

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