Trinity released its FY17 results this morning. Most of the key financials had already been announced in its March trading statement, and 2018 guidance remains unchanged. However, we increase our RENAV from 33p to 35p to reflect strong onshore reserves growth. We remain with our BUY recommendation given the potential for certain overhangs to be removed in 2018 and more confidence around cash flow given strong oil prices YTD.
10 May 2018
FY17 results
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FY17 results
Trinity Exploration & Production Plc (TRIN:LON) | 40.0 0 0.0% | Mkt Cap: 15.5m
- Published:
10 May 2018 -
Author:
Jessica Saadat -
Pages:
8
Trinity released its FY17 results this morning. Most of the key financials had already been announced in its March trading statement, and 2018 guidance remains unchanged. However, we increase our RENAV from 33p to 35p to reflect strong onshore reserves growth. We remain with our BUY recommendation given the potential for certain overhangs to be removed in 2018 and more confidence around cash flow given strong oil prices YTD.