Trinity Exploration & Production Tabaquite Block Update (1280I)
07 Diciembre 2015 - 1:00AM
UK Regulatory
TIDMTRIN
RNS Number : 1280I
Trinity Exploration & Production
07 December 2015
Trinity Exploration & Production Plc
(the "Company" or "Trinity"; AIM:TRIN)
Tabaquite Block, Trinidad
7(th) December 2015
Trinity, an independent E&P company focused on Trinidad and
Tobago, today provides an update on the status of the Sale and
Purchase Agreement ("SPA") signed in November 2014 with LGO Energy
plc ("LGO") to sell Trinity's interests in Tabaquite E&P
Company Limited ("TEPCL").
Trinity and LGO have agreed a full and final settlement for the
immediate cancellation of the SPA for a consideration of US$265,000
to Trinity inclusive of the Company's associated legal fees. The
consideration is to be paid in LGO ordinary shares equivalent to
41,487,776 shares.
The decision to cancel the SPA has been considered as part of
management's overall assessment of means to better realise the
value and future potential of the Tabaquite Block.
Enquiries:
Trinity Exploration & Production Tel: +44 (0)13
Bruce Dingwall, Executive Chairman 1240 3860
Tracy Mackenzie, Head of Investor
Relations
RBC Capital Markets Tel: +44 (0) 20
Nomad & Broker 7653 4000
Matthew Coakes
Daniel Conti
Oil & Gas Advisory
Jakub Brogowski
Roland Symonds Tel: +44 (0) 20
7653 4000
Brunswick Group LLP (PR Adviser) Tel: +44 (0) 20
Patrick Handley 7404 5959
William Medvei
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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