Updated Guidance and New Corporate Presentation

Trinity Exploration & Production

13 June 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.

13 June 2023

Trinity Exploration & Production plc

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

Updated Guidance and New Corporate Presentation

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, announces updated guidance for 2023.  In addition, a new corporate presentation which includes this updated guidance is now available to view on the Company website via the following link: https://trinityexploration.com/investors/investor-presentations/

2023 Guidance

Trinity provides the following update on guidance for 2023.

·    Sales guidance of between 2,800-3,100 bopd (Q1 2023: 2,899 bopd; FY 2022: 2,975 bopd)

·    Capex (USD) ranging between $16m-$18m (2022: $15.5m)

·    Operating Cashflow (USD) guidance of $10m-$12m (2022: $12m)

Enquiries:

Trinity Exploration & Production plc Jeremy Bridglalsingh, Chief Executive Officer Julian Kennedy, Chief Financial Officer Nick Clayton, Non- Executive Chairman	Via Vigo Consulting
SPARK Advisory Partners Limited (Nominated Adviser and Financial Adviser) Mark Brady James Keeshan	[phone]
Cenkos Securities PLC (Broker) Leif Powis Neil McDonald	[phone] [phone]
Vigo Consulting Limited Finlay Thomson / Patrick d'Ancona	[e-mail] [phone]

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 2022 was 17.96 mmbbls.  Group 2C contingent resources are estimated to be 48.88 mmbbls.  The Group's overall 2P plus 2C volumes are therefore 66.84 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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