In todays Trinidad Guardian Oil and gas analyst: T&T production set to increase Brian Gallagher, an oil and gas equity analyst, says predictions about T&T becoming an exciting exploration destination for oil and gas companies are rapidly becoming a reality. In a report published online by Investors Chronicle, Gallagher noted that “exploration activity across Trinidad has rapidly accelerated while interest from speculative investors is exploding.” He noted that one energy company, Leni Gas & Oil, has seen its share price rise four-fold following successful drilling at its Goudron field onshore Trinidad. “Shares in rival onshore operator Range Resources (RRL), meanwhile, have doubled in value since May, as have shares in Toronto Stock Exchange-listed Touchstone Exploration (TSX: TXP). This is despite the wider Aim oil and gas sector retreating a miserable 20 per cent over the past six months,” he said. Gallagher attributed these developments to changes to T&T tax regime which include cost recovery measures as well as exploration and development tax breaks designed to reward companies seeking to increase onshore oil production. He said: “Reductions in royalty rates have also been successfully negotiated on a case-by-case basis. [ Click the link to read this article in full guardian.co.tt/business/2014-08-04/oil-and-gas-analyst-tt-production-set-increase ]
Posted on: Mon, 04 Aug 2014 14:30:01 +0000
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