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CORPORATE SPONSORED MATERIAL: Trinity E&P* (TRIN LN, BUY, T/P 33p) - Update | Q1 update
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 production, good cash generation and potential reserves upside.
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Whitman Howard
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
Jessica Saadat
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