21 Oct 2015 07:00
Trinity Exploration & Production Plc
(the "Company" or "Trinity"; AIM:TRIN)
Loan Update
21st October 2015
Trinity, an independent E&P company focused on Trinidad and Tobago, today announces that the Company has agreed a further extension to the moratorium on principal repayments, relating to Trinity's outstanding debt balance of US$13.0 million with its lender, until the 23rd of October 2015. Discussions are ongoing with the lender for a further extension of its credit facilities and management expect for there to be continued support, particularly following the announcement of the sale of substantially all of Trinity's onshore assets for US$20.8 million.
Recent progress evidences the value of Trinity's portfolio through the strategic review and FSP and as part of this Trinity retains a regular dialogue with its lender and creditors.
Enquiries:
Trinity Exploration & Production Joel "Monty" Pemberton, Chief Executive Officer Tracy Mackenzie, Head of Investor Relations
| Tel: +44 (0)13 1240 3860
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| Tel: +44 (0) 20 7653 4000
Tel: +44 (0) 20 7653 4000 | ||||
Brunswick Group LLP (PR Adviser) Patrick Handley William Medvei
| Tel: +44 (0) 20 7404 5959
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About Trinity
Trinity is one of the largest independent E&P company focused on Trinidad and Tobago. Trinity currently 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. The Company operates all of its licences. Trinity is listed on the AIM market of the London Stock Exchange under the ticker TRIN.LN.
Trinity (TRIN)