- New Galeota licence terms a gamechanger and farm-down process to commence shortly.
- US$3.5m acquisition of 100 per cent owned PS-4 Block to complete early in fourth quarter.
- Full-year production guidance 2,900 to 3,100 bopd.
- 2021 operating cash break-even target below US$30 per barrel.
- 2021 operating forecast post Supplementary Petroleum tax forecast to rise from US$2.6m to US$5.8m.
Trinity Exploration & Production (TRIN:151p), an independent oil and gas explorer and producer focused on Trinidad and Tobago, looks well placed to deliver material growth for shareholders on multiple fronts. Importantly, Trinity has a well experienced team to deliver this.
The group is being led by chief executive Jeremy Bridglalsingh (previously managing director) following last month’s sad death of founder and chairman Brice Dingwall. The board is being overseen by Nick Clayton, an industry stalwart with 37 years of experience within the global oil and gas sector who commenced his career at BP, and subsequently held senior oil and gas corporate finance roles at both Canaccord Adams and Dresdner Kleinwort Wasserstein. The executive management team has been expanded, too, and the appointment of Derek Hudson as non-executive director looks a smart addition.