Last checked at 29 Nov 2023 07:00
29 November 2023
Trinity Exploration & Production plc
("Trinity" or "the Group" or "the Company")
Jacobin Update
Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, is pleased to provide an update on operations at its Jacobin oil discovery.
Trinity safely perforated the two Lower Cruse 1 zones on 28 November 2023, ahead of the anticipated schedule of mid-December. Testing of these two comingled zones will now commence and the well's performance will be closely monitored.
The Company will provide flow rate data once stabilised information is available, alongside details of ongoing operations.
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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Cavendish Capital Markets Limited (Broker) Leif Powis Derrick Lee 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.
Qualified Person's Statement
The technical information contained in the announcement has been reviewed and approved by Mark Kingsley, Trinity's Chief Operating Officer. Mark Kingsley (BSc (Hons) Chemical Engineering, Birmingham University) has over 35 years of experience in international oil and gas exploration, development and production and is a Chartered Engineer.
Disclaimer
This document contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil exploration and production business. Whilst the Group believes the expectation reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to macroeconomic factors either beyond the Group's control or otherwise within the Group's control.