Trinity has confirmed that it has commenced drilling in its six well onshore campaign by spudding the first well, with two wells already completed the company expects to bring the total of wells drilled this year to eight by the year end.

With the fundraising completed the campaign is fully funded and that this well has spudded within two months of receiving the funds is a testament to TRIN’s operational experience. The aim of the campaign is to maintain double digit year-on-year production going forward and the accelerated infill process will certainly provide increased cash flow and added shareholder value. Trinity has, as a result of its aggressive cost cutting and technical and logistical experience, ‘peer leading break-evens’ which make the shares astonishingly attractive at present and with no debt and the potential to step up both onshore and offshore exciting medium and long term opportunity .

Solo Oil

Solo has announced the disposal of its interest in Horse Hill developments for £4.5m in cash and buying a 4.2% interest in UKOG. This deal, whilst maintaining the potential upside in the project gives Solo considerably more scope and books them a significant profit at a time of corporate restructuring, a canny deal if ever I saw one.

Solo are now looking a very interesting vehicle, l reckon that they have around £9m of cash or near term equivalents and are fully funded for Ruvuma which gives them ultimate flexibility as they restructure the portfolio. On this basis the shares look a pretty interesting bet with little downside.


A sparkling set of results from Hunting this morning and I will comment more after the meeting which I am headed to. Us bulls  have been rewarded by a significant rise in revenue, profits and earnings of 19.1p per share after last year’s loss. Indeed such was the turnaround that the board popped up with a return to the dividend list with 4 cents  a share and the indication of more at the final stage. Obviously it’s all about US onshore where my favourite company Titan is delivering by the bucketful. More after the meeting  but I hope that they will talk about increased capex in the U.S and a recovery elsewhere.

Reabold Resources

A quick mention of RBD as it announces a successfull well in the US with 60′ of pay but regrettably no production details. They have said that it will go onto production though and co-CEO’s are very positive. Whilst a smaller part of excitement to come this is quick and very profitable for Reabold and again justifies the investment.