Trinity has announced an agreement to divest five blocks onshore Trinidad in the Southern Basin to Touchstone Exploration (TSX: TRP). The five blocks represented 100% of the Company’s onshore production of 1,490 bbl/d. The transaction is expected to close in late 2015e, at which time we are forecasting 2016e production of 925 bbl/d from offshore the east coast and west coast of Trinidad.Trinity will receive sale proceeds of US$20.8 mm and the funds will be directed toward the repayment
22 Oct 2015
Trinity Exploration & Production Divests of Onshore Producing Assets – Discontinuing Research Coverage
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Trinity Exploration & Production Divests of Onshore Producing Assets – Discontinuing Research Coverage
Trinity Exploration & Production Plc (TRIN:LON) | 39.0 0 0.0% | Mkt Cap: 15.1m
- Published:
22 Oct 2015 -
Author:
Darren B. Engels -
Pages:
4
Trinity has announced an agreement to divest five blocks onshore Trinidad in the Southern Basin to Touchstone Exploration (TSX: TRP). The five blocks represented 100% of the Company’s onshore production of 1,490 bbl/d. The transaction is expected to close in late 2015e, at which time we are forecasting 2016e production of 925 bbl/d from offshore the east coast and west coast of Trinidad.Trinity will receive sale proceeds of US$20.8 mm and the funds will be directed toward the repayment