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

AGRUNURRVNAURUA

(END) Dow Jones Newswires

December 07, 2015 02:00 ET (07:00 GMT)

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