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 6th of November 2015. Discussions are ongoing with the lender to secure a longer 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.