Trinity released its Q1 production update this morning. Production is broadly flat qoq as RCP activities have been lower as Trinity switched focus to drilling two onshore wells, which should bolster production going forward. Trinity also continues to pay down its liabilities ahead of schedule and increased its cash position. We don’t make any changes to our RENAV of 33p. We remain with our BUY recommendation, as we believe the share price discount to RENAV is excessive given stable prod
