Management Update

RNS Number : 6378K

Trinity Exploration & Production

04 January 2016

 

Trinity Exploration & Production Plc

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

Management Update

4^th January 2016

Trinity, an independent E&P company focused on Trinidad and Tobago, today announces that Bryan Ramsumair has stepped down as Chief Financial Officer ("CFO") effective 31^st December. The Board wishes to thank Bryan for his contribution to date and wishes him well in his future endeavours.

Jeremy Bridglalsingh, aged 36, has assumed the role of CFO having previously held the roles of Financial Controller and Corporate Development Manager during his last four years with Trinity. Jeremy is a Chartered Management Accountant and a member of the Chartered Institute of Management Accountants (CIMA). Prior to joining Trinity in January 2012 he worked for PricewaterhouseCoopers.   The role of CFO is not currently a Board position.

The Company, as part of its strategic review, has continued to make progress in re-basing its cost structure by reducing its general and administrative costs ("G&A") and its operating expenditures ("OPEX") to reduce breakeven levels. Jeremy has been an integral part of this process and in leading discussions with suppliers and creditors. Several initiatives have been made and are underway with further significant cash cost reductions expected to be fully realised during 2016.

Enquiries:

Trinity Exploration & Production Bruce Dingwall, Executive Chairman Tracy Mackenzie, Head of Investor Relations	Tel: [phone]
RBC Capital Markets                                                               Nomad & Broker Matthew Coakes Daniel Conti	Tel: [phone]
Oil & Gas Advisory Jakub Brogowski Roland Symonds	Tel: [phone]

Notes to Editors

About Trinity

Trinity is one of the largest independent E&P company focused on Trinidad and Tobago. Trinity currently 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. Trinity is listed on the AIM market of the London Stock Exchange under the ticker TRIN.LN.

 

END

 

 

MSCBIGDBSBGBGLX