Trinity released its H118 results this morning. Production averaged 2.771kboepd for H1, up 16% yoy. Financial metrics were similarly impressive, and post fundraise and all debt repayments, Trinity had a strong net cash position of $19m at the end of H1. We should start to see results from an already commenced 6 well programme towards the end of the year, and clarity around the offshore development in H119. We reiterate our BUY recommendation given Trinity is funded, profitable, cheap and has
24 Sep 2018
H118 results
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H118 results
Trinity Exploration & Production Plc (TRIN:LON) | 40.0 0 0.0% | Mkt Cap: 15.5m
- Published:
24 Sep 2018 -
Author:
Jessica Saadat -
Pages:
6
Trinity released its H118 results this morning. Production averaged 2.771kboepd for H1, up 16% yoy. Financial metrics were similarly impressive, and post fundraise and all debt repayments, Trinity had a strong net cash position of $19m at the end of H1. We should start to see results from an already commenced 6 well programme towards the end of the year, and clarity around the offshore development in H119. We reiterate our BUY recommendation given Trinity is funded, profitable, cheap and has