TRINITY Exploration - (TRIN) - A great VALUE spec for 2024...

[SKYSHIP]

The shares of TRINITY Exploration (TRIN) are absurdly cheap at 43p after a 62% fall in 2023 – perhaps like many on AIM. The MCap of a mere £17m needs to be weighed against Operating Revenues of $12m for 2023 & a likely $15m/$16m for 2024, thanks to the Trinidad & Tobago government confirming last week the withdrawal of Supplemental Petroleum Tax, as an incentive to the Oil/Gas industry.

Oil flow is steady at c2900Bopd and there are many ongoing projects likely to increase that figure this year. They are already paying a dividend of 1.5p/annum, so the valuation has totally lost touch with reality. I expect a rapid recovery to 60p at least in Q1’24.

Further sharp upside would be triggered if they announce a sale or farm-in for their prize asset – the offshore Galeota field. That alone could be worth 175p/share – as detailed in this excellent piece below:

https://andrewbyles.blogspot.com/2023/1 ... n-and.html

https://trinityexploration.com/

[Charlottesquare]

Div was 0.5p

[SKYSHIP]

Quite right - and a Final of 1.0p-1.5p to come.

[airbus330]

I take it they are even better value at 39p. -12% today. Seems like yet another questionable BoD.

[SKYSHIP]

airbus - yes indeed, even better value. The Update well worth a read. Cash now at over 20p/share and will be building up throughout H1'24 ahead of the final dividend. BOPD holding up well at 2733 so increased revenues flowing in from the higher oil price and no SPT.

Price truly anomalous and a great opportunity for new entrants.

[SKYSHIP]

Herewith link to that Update yesterday:

https://uk.advfn.com/stock-market/londo ... e/93012696

[SKYSHIP]

An excellent post over on ADVFN. P.No.6896 provides much of the detail confirming the fantastic value
represented by TRIN. Currently 41p & on their way to my Q1'24 target of 60p...thern on to 80p:

https://uk.advfn.com/cmn/fbb/thread.php3?id=45570460

[SKYSHIP]

The recovery about to begin - moving better; and likely to accelerate this week:

https://uk.advfn.com/cmn/fbb/thread.php3?id=45570460

[SKYSHIP]

Closed the week @ 47p-48p. Recovery just starting.....

[airbus330]

Another disappointing update.Shares down 20%
https://www.voxmarkets.co.uk/rns/announ ... 63e115a3b/