Trinity’s Q4 update highlights the progress made since the July fundraising, with a Q4 production rate of 3.2kbopd, up 17% qoq, with production up 14% yoy, beating its 10% pa growth target. Net cash (including receivables) was better than we had forecast. As per the rest of the sector, Trinity has been affected by the weak oil price. However, its valuation discount looks excessive and we reiterate our BUY.
15 Jan 2019
Q4 update
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q4 update
Trinity Exploration & Production Plc (TRIN:LON) | 39.0 0 0.0% | Mkt Cap: 15.1m
- Published:
15 Jan 2019 -
Author:
Jessica Saadat -
Pages:
4
Trinity’s Q4 update highlights the progress made since the July fundraising, with a Q4 production rate of 3.2kbopd, up 17% qoq, with production up 14% yoy, beating its 10% pa growth target. Net cash (including receivables) was better than we had forecast. As per the rest of the sector, Trinity has been affected by the weak oil price. However, its valuation discount looks excessive and we reiterate our BUY.