Trinity Exploration & Production PLC - Trinidad & Tobago focused oil exploration and production company - Says supplemental petroleum tax reform in Trinidad & Tobago has now been implemented. Threshold for individual producers of fewer than 2,000 barrels of crude per day raised to USD75 a barrel to USD50. "As a result, Trinity expects to be exempt from SPT across all of its onshore licences below USD75 per barrel, which will have a significant positive impact on future cash flows," Trinity says.
Current stock price: 12.32 pence
Year-to-date change: up 2.3%
By Eric Cunha; ericcunha@alliancenews.com
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Trinity (TRIN)