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2 Oct 2014 08:51
Trinity Exploration & Production plc(the "Company" or "Trinity"; AIM:TRIN)
Statement Regarding Share Price
2nd October 2014
Trinity notes the recent downward movement in its share price. Following the update provided to the market in the interim statement, the Board of Trinity advises shareholders that it knows of no reason for the move.
Trinity's asset portfolio remains fundamentally sound. First half production was 3,795 boepd. Trinity operates all its assets with high working interests generating positive operating cash flows and is located in a region with a growing strategic requirement for new supplies of oil and gas. Trinity's balanced portfolio has provided it with the ability to selectively choose the most optimal method for allocating capital, and plans are in progress to deliver on such.
The Board and Management of Trinity are confident in the Company's plans to deliver growth, without recourse to the market in the immediate future.
Enquiries:
Trinity Exploration & Production Joel "Monty" Pemberton, Chief Executive Officer Robert Gair, Corporate Development Manager |
Tel: +44 (0)20 7404 5959 |
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 Pip Green
|
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.
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