Trinity Exploration & Production (TRIN)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 40.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 99.00
  • 52 Week Low: 36.00
  • Currency: UK Pounds
  • Shares Issued: 38.80m
  • Volume: 35,759
  • Market Cap: £15.52m

Trinity Exploration and Production turns in 'another strong set of results'

By Iain Gilbert

Date: Friday 18 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Trinity Exploration and Production said on Friday that it had produced "another strong set of results" despite difficulties stemming from the the Covid-19 pandemic and oil price disruptions.
The AIM-listed firm said it was now one of the lowest-cost operators in the Trinidad and Tobago region, with the quality of its assets and "the outstanding efforts" of its team ensuring that the group was able to both generate free cash flow and create a broader platform for growth during "a difficult period".

During 2020, Trinity grew its year-end cash balance by 46% to $20.2m, reduced its operating break-even by 24% to $20.1 per barrel, with average production volumes growing in aggregate by 7.3% to 3,226 barrels per day despite no new drilling.

Looking forward, Trinity highlighted that it had also entered into "a number of exciting partnerships" with a view to creating a strategic framework to meaningfully scale the business.

Chairman Bruce Dingwall said: "We expect our focus on meaningfully scaling the business and developing low carbon initiatives with a superior return profile will, in time, make the Company more appealing to a wider shareholder base. As we develop our register, we will also continue to work towards returning value to shareholders, when it is appropriate to do so, through dividends and/or share buybacks, both of which will be facilitated by our proposed capital reduction.

"Furthermore, the share consolidation (to reduce the number of shares in issue), whilst having no immediate impact on the total value of investors' holdings, will potentially make our shares more attractive to a wider audience, helping to reduce the bid offer spread and thus having a beneficial knock on effect on liquidity."

As of 1000 BST, Trinity shares were down 1.48% at 16.01p.

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TRIN Market Data

Currency UK Pounds
Share Price 40.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 99.00
52 Week Low 36.00
Volume 35,759
Shares Issued 38.80m
Market Cap £15.52m

TRIN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.14% above the market average57.14% above the market average57.14% above the market average57.14% above the market average57.14% above the market average
15.79% below the sector average15.79% below the sector average15.79% below the sector average15.79% below the sector average15.79% below the sector average
Price Trend
83.43% below the market average83.43% below the market average83.43% below the market average83.43% below the market average83.43% below the market average
58.54% below the sector average58.54% below the sector average58.54% below the sector average58.54% below the sector average58.54% below the sector average
Income
26.61% below the market average26.61% below the market average26.61% below the market average26.61% below the market average26.61% below the market average
76.47% below the sector average76.47% below the sector average76.47% below the sector average76.47% below the sector average76.47% below the sector average
Growth
63.71% above the market average63.71% above the market average63.71% above the market average63.71% above the market average63.71% above the market average
5.66% above the sector average5.66% above the sector average5.66% above the sector average5.66% above the sector average5.66% above the sector average

TRIN Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Oct-23 n/a
Paid 26-Oct-23 n/a
Amount 0.50p 0.000¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:14 250 @ 40.48p
15:42 800 @ 40.50p
15:17 10,000 @ 40.00p
12:06 1,175 @ 40.69p
12:06 1,229 @ 39.24p

TRIN Key Personnel

CEO Jeremy Bridglalsingh

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