TRIN Trinity Exploration & Production Plc

TIDMTRIN

RNS Number : 9464V

Trinity Exploration & Production

12 April 2023

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

12 April 2023

Trinity Exploration & Production plc

("Trinity" or "the Group" or "the Company")

Fire on Trintes Bravo platform

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago , can confirm that at approximately 21:15 local time on Monday 10 April a generator-related fire occurred on Trinity's Bravo Platform in the Trintes Field, offshore east coast Trinidad.

Production from the Bravo platform was halted, the fire was then successfully and quickly extinguished and the platform subsequently evacuated. As a precautionary measure, production from the other Trintes platforms, Delta and Alpha, was also shut down.

Four operators were onboard Trintes Bravo at the time of the incident with two sustaining minor burns and all four impacted due to smoke inhalation. All four operators received medical treatment for minor injuries and continue to be monitored.

No hydrocarbons were released into the environment as a result of this incident .

On Tuesday, 11 April, a multi-disciplinary team was mobilised to the Bravo platform to comprehensively assess the exact cause and extent of damage arising from the incident and the remediation required to return the facility to service. The damage is limited to a generator with the platform structure and other platform electricals and equipment in good order. The Company estimates replacement of the generator and associated repairs on the Bravo platform will be completed within three to four days and will initiate production restart in a phased manner once approval is received from the Ministry of Energy and Energy Industries.

Alpha and Delta crews also conducted precautionary checks ahead of restarting oil production which commenced late evening on Tuesday 11 April 2023, with all previously producing wells coming back online overnight. As is normally the case with any shut down and restart, well flow rates will be optimised over the coming days to attain pre-shut-in production levels.

We would like to take this opportunity to thank the Team working on this incident for their diligence, which facilitated a quick and resilient response.

Oil production from the Bravo platform accounts for approximately 350 bopd. Total Trintes field production is approximately 1,010 bopd.

Further updates will be provided when appropriate.

Enquiries:

 
 Trinity Exploration & Production plc              Via Vigo Consulting 
  Nick Clayton, Non- Executive Chairman 
  Jeremy Bridglalsingh, Chief Executive Officer 
  Julian Kennedy, Chief Financial Officer 
 SPARK Advisory Partners Limited 
  (Nominated Adviser and Financial Adviser) 
  Mark Brady 
  James Keeshan                                    +44 (0)20 3368 3550 
 Cenkos Securities PLC (Broker) 
  Leif Powis                                       +44 (0)20 7397 8900 
  Neil McDonald                                     +44 (0)131 220 6939 
 Vigo Consulting Limited                           trinity@vigoconsulting.com 
  Finlay Thomson / Patrick d'Ancona                 +44 (0)20 739 0 0230 
 

About Trinity ( www.trinityexploration.com )

Trinity is an independent oil production company focused solely on Trinidad and Tobago. Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad. 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 ten licences and, across all of the Group's assets, management's estimate of the Group's 2P reserves as at the end of 2021 was 19.73 mmbbls. Group 2C contingent resources are estimated to be 47.22 mmbbls. The Group's overall 2P plus 2C volumes are therefore 66.95 mmbbls.

Trinity is quoted on AIM, a market operated and regulated by the London Stock Exchange Plc, under the ticker TRIN.

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