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Trinity Exploration Spuds First Well In Trinidad Programme

Thu, 30th Aug 2018 14:07

LONDON (Alliance News) - Trinity Exploration & Production PLC said Thursday it spud the first well at its programme in Trinidad.

The company, which focuses on exploration and production in Trinidad & Tobago, said the well is part of a six infill well programme to be added to two already existing wells.

"The aim of the programme is to maintain double-digit year-on-year production growth going forward," the company said.

Additionally, the company noted the decision of the Petroleum Co of Trinidad & Tobago Ltd, also known as Petrotrin, of discontinuing refining operations announced on Wednesday.

"The company expects that this decision will have no impact to the ongoing sales agreements with Petrotrin for Trinity's oil production," it added.

Range Resources Ltd, Touchstone Exploration Inc and Columbus Energy Resources PLC all on Wednesday also had noted Petrotrin's decision.

Trinity said it will publish its interim results for the six months to June 30 during September.

Shares in the company were trading up 0.6% at 16.90 pence each.