Loan Update

RNS Number : 8117U

Trinity Exploration & Production

03 August 2015

 



Trinity Exploration & Production Plc

(the "Company" or "Trinity"; AIM:TRIN)

Loan Update

3^rd August 2015

Trinity, an independent E&P company focused on Trinidad and Tobago, today announces that the Company has agreed a further extension to the moratorium on principal repayments, relating to Trinity's outstanding debt balance of US$13.0 million with its lender, until the 21^st of August 2015. The extension of its credit facilities by its senior lender represents their continued support of Trinity and the Formal Sales Process ("FSP").

Progress continues with the strategic review and FSP and as part of this Trinity retains a regular dialogue with its lender and creditors. Trinity will provide an update on progress to date from the process alongside an operations update within the timeframe of the extension.

Enquiries:

Trinity Exploration & Production Joel "Monty" Pemberton, Chief Executive Officer Tracy Mackenzie, Head of Investor Relations	Tel: [phone]
RBC Capital Markets                                                               Nomad & Broker Matthew Coakes Daniel Conti Oil & Gas Advisory Jakub Brogowski Roland Symonds	Tel: [phone] Tel: [phone]
Brunswick Group LLP (PR Adviser) Patrick Handley William Medvei	Tel: [phone]

About Trinity

Trinity is the largest independent E&P company focused on Trinidad and Tobago. Trinity operates assets onshore and offshore on both the West and East coasts. Trinity's portfolio includes current production, significant near-term production growth opportunities from low risk developments and multiple exploration prospects.  The Company operates all of its licences and has 2P reserves of 25 MMbbls. Trinity is listed on the AIM market of the London Stock Exchange under the ticker TRIN.LN.

 

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