Trinity Exploration Gets 23rd Extension On Debt Repayment

LONDON (Alliance News) - Trinity Exploration & Production PLC on Monday said it has agreed a further week-long extension to the moratorium on repayments relating to its outstanding debt balance of USD13.0 million with its lender Citibank.

This is Trinity's 23rd extension and runs until March 11.

The company said that it is continuing talks with the lender to secure a further extension of its credit facilities, and added that it expects for there to be continued support, particularly following the announcement of the sale of substantially all of its onshore assets for USD20.8 million.

Shares in Trinity were trading down 7.0% at 2.91 pence on Monday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

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