George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTrinity Regulatory News (TRIN)

Share Price Information for Trinity (TRIN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 40.00
Bid: 39.00
Ask: 41.00
Change: 0.00 (0.00%)
Spread: 2.00 (5.128%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 40.00
TRIN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sale of Surplus Inventory

10 Mar 2015 14:08

RNS Number : 0628H
Trinity Exploration & Production
10 March 2015
 



Trinity Exploration & Production plc

("Trinity" or the "Company"; AIM:TRIN)

 

Sale of Surplus Inventory

 

10 March 2015

 

Trinity, the leading independent E&P company focused on Trinidad and Tobago, today announces the sale of surplus casing and tubing to Rigtech Services Limited, Blanket Security Limited and Well Services Petroleum Company Limited ("Purchasers") for US$3.5 million.

 

The sale of casing and tubing to the Purchasers constitute a related party transaction under the AIM Rules as Anthony Brash, a Director of those entities, is also a Board member and shareholder of Trinity. The directors of Trinity (with the exception of Anthony Brash) consider, having consulted with RBC Capital Markets in its capacity as the Company's nominated adviser, that the terms of the Transactions, are fair and reasonable insofar as the shareholders of Trinity are concerned.

The proceeds of the transaction will be used to reduce amounts owing to Purchasers in relation to services provided by the Purchasers to the Company. The fall in the casing and tubing market internationally means that the sale will result in a loss on sale of US$1.3 million for accounting purposes.

The rationalisation of this excess inventory has allowed Trinity to consolidate its warehousing and inventory storage thereby achieving significant leasehold rental savings.

 

 

Enquiries:

Trinity Exploration & Production

Joel "Monty" Pemberton, Chief Executive Officer

Tracy Mackenzie, Head of Investor Relations

 

Tel: +44 (0)13 1240 3860

 

 

RBC Capital Markets (NOMAD & Joint Broker)

Matthew Coakes

Daniel Conti

 

Tel: +44 (0) 20 7653 4000

Jefferies (Joint Broker)

Chris Zeal

Graham Hertrich

 

Tel: +44 (0) 20 7029 8000

Brunswick Group LLP (PR Adviser)

Patrick Handley

William Medvei

 

Tel: +44 (0) 20 7404 5959

 

About Trinity

Trinity is the largest independent E&P company focused on Trinidad and Tobago. Trinity operates assets onshore and offshore on both the West and East coasts. 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 licences and has 2P reserves of 48 MMbbl. Trinity is listed on the AIM market of the London Stock Exchange under the ticker TRIN.LN.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLLFEVVAIILIE
Date   Source Headline
29th Feb 20241:30 pmRNSTotal Voting Rights
1st Feb 20247:00 amRNS2024 Guidance and Operational Update
22nd Jan 20247:00 amRNSBlock Listing Return
11th Jan 20247:00 amRNSQ4 2023 Operational Update
4th Jan 20247:00 amRNSFiscal Reform: Trinidad & Tobago Finance Act 2023
18th Dec 20237:00 amRNSJacobin Update
29th Nov 20232:00 pmRNSInvestor Presentation
29th Nov 20237:01 amRNSInvestor Presentation & In-Person Investor Event
29th Nov 20237:00 amRNSJacobin Update
20th Nov 20237:00 amRNSJacobin Update
14th Nov 20237:00 amRNSInvestor Event
10th Nov 20237:00 amRNSInvestor Presentation
8th Nov 20237:00 amRNSChange of Broker
8th Nov 20237:00 amRNSJacobin Update
27th Oct 20234:20 pmRNSInvestor Presentation
25th Oct 20237:00 amRNSInvestor Presentation
23rd Oct 20237:00 amRNSQ3 2023 Operational Update
4th Oct 20237:00 amRNSTrinidad and Tobago Budget Highlights
29th Sep 202310:55 amRNSTotal Voting Rights
28th Sep 20237:00 amRNSInterim Results
25th Sep 20235:25 pmRNSHolding(s) in Company
18th Sep 20231:12 pmRNSTransfer of Shares Held in Treasury and TVR
14th Sep 20237:00 amRNSNotice of 2023 Interim Results
4th Sep 20237:00 amRNSBuenos Ayres Environmental Impact Assessment
22nd Aug 20239:30 amRNSVesting & Grant of Annual LTIP Awards
7th Aug 20237:00 amRNSJacobin-1 Oil Discovery Confirmed
31st Jul 20235:30 pmRNSTotal Voting Rights
31st Jul 20235:21 pmRNSReplacement: Block Listing Return
21st Jul 20233:51 pmRNSBlock Listing Return
20th Jul 20237:00 amRNSQ2 2023 Operational Update
13th Jul 20237:00 amRNSJacobin Drilling Update
3rd Jul 20237:00 amRNSTotal Voting Rights
27th Jun 20235:00 pmRNSTransaction in Own Shares & Completion of Buyback
27th Jun 202311:21 amRNSResults of the 2023 AGM
27th Jun 20237:00 amRNSGaleota Asset Development Update
26th Jun 20237:00 amRNSJacobin Drilling Update
23rd Jun 20233:32 pmRNSTransaction in Own Shares
16th Jun 20233:39 pmRNSTransaction in Own Shares
13th Jun 20239:08 amRNSSuccessful Bid for Buenos Ayres Licence
13th Jun 20237:00 amRNSUpdated Guidance and New Corporate Presentation
12th Jun 20237:00 amRNSTransaction in Own Shares
2nd Jun 20232:50 pmRNSTransaction in Own Shares
2nd Jun 20232:45 pmRNSNotice of AGM and Publication of Annual Report
1st Jun 20237:00 amRNSFull Year Results to 31 December 2022
31st May 20234:20 pmRNSTotal Voting Rights
26th May 202311:45 amRNSTransaction in Own Shares
25th May 20237:00 amRNSNotice of Results
19th May 202310:54 amRNSTransaction in Own Shares
16th May 20237:00 amRNSDrilling Update - Trinity spuds Jacobin well
12th May 202310:51 amRNSTransaction in Own Shares

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.