Last checked at 4 Sep 2023 07:00
4 September 2023
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Commencing Environmental Impact Assessment for the Buenos Ayres block, onshore Trinidad
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, has secured Terms of Reference for its proposed Environmental Impact Assessment ("EIA") for the Buenos Ayres block, onshore Trinidad from the Environmental Management Authority of Trinidad.
Trinity's successful application for the Buenos Ayres block, offered in the 2022 Onshore and Nearshore Competitive Bid Round, was announced on 13 June 2023.
A Certificate of Environmental Clearance ("CEC") is a prerequisite for drilling activity and the EIA is required for the CEC.
Trinity's CEC application is for 10 surface drilling locations.
The EIA needs to acquire data from both wet and dry seasons. Trinity has expedited securing the Terms of Reference for this survey, ahead of the formal award of the licence, to collect wet season data this year which gives us the best opportunity to allow drilling to begin on the Buenos Ayres block in the second half of 2024.
Jeremy Bridglalsingh, Chief Executive Officer of Trinity, commented:
"Buenos Ayres is a cornerstone of our revitalised onshore strategy focused on our broader Palo Seco operating interests. Our confidence in the Palo Seco play has increased with our progress on Jacobin thus far.
"In June, we referenced our intention to rapidly exploit our competitive edge onshore Trinidad. Starting the acquisition of the Buenos Ayres EIA ahead of the formal award of the licence is evidence of Trinity's commitment to progress this strategic option with pace."
Enquiries:
Trinity Exploration & Production plc Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Chief Financial Officer Nick Clayton, Non-Executive Chairman | Via Vigo Consulting |
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SPARK Advisory Partners Limited (Nominated Adviser and Financial Adviser) Mark Brady James Keeshan | +44 (0)20 3368 3550 |
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Cenkos Securities PLC (Broker) Leif Powis Neil McDonald | +44 (0)20 7397 8900 +44 (0)131 220 6939 |
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Vigo Consulting Limited Finlay Thomson Patrick d'Ancona | trinity@vigoconsulting.com +44 (0)20 7390 0230 |
About Trinity (www.trinityexploration.com)
Trinity is an independent oil 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 ten licences and, across all of the Group's assets, management's estimate of the Group's 2P reserves as at the end of 2022 was 17.96 mmbbls. Group 2C contingent resources are estimated to be 48.88 mmbbls. The Group's overall 2P plus 2C volumes are therefore 66.84 mmbbls.
Trinity is quoted on AIM, a market operated and regulated by the London Stock Exchange Plc, under the ticker TRIN.