Loan Update

RNS Number : 1403F

Trinity Exploration & Production

10 November 2015

 



Trinity Exploration & Production Plc

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

Loan Update

10^th November 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 20^th of November 2015. Discussions are ongoing with the lender to secure a longer extension of its credit facilities and management expect for there to be continued support, particularly following the announcement of the sale of substantially all of Trinity's onshore assets for US$20.8 million.    

Recent progress evidences the value of Trinity's portfolio through the strategic review and FSP and as part of this Trinity retains a regular dialogue with its lender and creditors.

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 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 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.

 

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