PDMR Dealings

RNS Number : 0716U

Trinity Exploration & Production

12 January 2017

 

For immediate release: 12 January 2017

Trinity Exploration & Prodcuction plc

("Trinity" or 'the Group' or "the Company")

PDMR Dealings

Trinity (AIM: TRIN), the leading independent E&P company focused on Trinidad and Tobago, announces that Bruce Dingwall, Executive Chairman, purchased 6,400,000 Placing Shares at the Placing Price.

Following this transaction, Mr Dingwall is interested in 12,215,498 Ordinary shares in the Company representing 4.32% per cent of the issued share capital (voting rights), of the Company as per the following table:-

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bruce Dingwall
2	Reason for the notification
a)	Position/status	Executive Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trinity Exploration & Production plc
b)	Legal Entity Identifier	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of USD 0.01 per share par value  GB00B8JG4R91
b)	Nature of the transaction	Purchase
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.0498	6,400,0000
e)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	6,400,000 £318,720 £318,720
f)	Date of the transaction	11.01.2017
g)	Place of the transaction	London Stock Exchange, AIM

*-ends*-

For further information please visit: www.trinityexploration.com  or contact:

Trinity Exploration & Production Bruce Dingwall, Executive Chairman Tracy Mackenzie, Head of Corporate Development	Tel: [phone]
SPARK Advisory Partners Limited (Nominated & Financial Adviser) Mark Brady Miriam Greenwood Sean Wyndham-Quin	Tel: [phone]
Cantor Fitzgerald Europe (Broker) David Porter Sebastien Maurin Craig Francis	Tel: [phone]

About Trinity

Trinity is an independent oil and gas exploration and production company focused solely on Trinidad and Tobago.  Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad. Trinity's portfolio includes current production, significant near-term production growth opportunities from low risk developments and multiple exploration prospects with the potential to deliver meaningful reserves/resources growth.  The Company operates all of its nine licences and, across all of the Group's assets, management's estimate of 2P reserves as at the end of 2015 was 20.9 MMbbls (excluding the Guapo-1 license which was disposed of in April 2016). Group 2C contingent resources are estimated to be 19.8 MMbbls. The Group's overall 2P plus 2C volumes are therefore 40.7 MMbbls.

Trinity is listed on the AIM market of the London Stock Exchange under the ticker TRIN.

 

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