Trinity Exploration & Production, the independent E&P company focused on Trinidad and Tobago, has confirmed that it has now received all the approvals necessary to complete the acquisition of a 100% interest in the PS-4 Block Lease Operatorship Sub-Licence, onshore Trinidad.
Market Update: Tuesday 4 May 2021 Helium One (AIM:HE1): Completion of extended 2D seismic campaign SDX Energy (AIM:SDX): SDX commences active drilling.
Trinidad: Trinity Exploration announces acquisition of onshore PS-4 Block
04 May 2021
AIM-listed
Trinity Exploration & Production, the independent E&P company focused on Trinidad and Tobago, has executed a Sale and Purchase Agreement ( SPA ) with
Moonsie Oil Company, a private Trinidad based operator, to
acquire an operated 100% interest in the PS-4 Block Lease Operatorship Sub-Licence, onshore Trinidad for a total headline cash consideration of US$3.5 million (subject to potential closing adjustments as described below), to be funded from the Company s existing cash resources.
Acquisition Highlights
Contiguous to Trinity s largest and most prolific onshore Block, WD-5/6
Enables Trinity to expand its new 3D seismic sequence stratigraphic interpretation approach
Oil price, Zephyr, Far, Trinity, SDX, Helium One.
Helium One Global (AIM:HE1)
Helium One has announced the completion of its extended infill 2D seismic campaign and identification of new priority drill ready targets ahead of commencement of exploration drilling programme at Rukwa Project (100%) in Tanzania.
Oil price, Zephyr, Far, Trinity, SDX, Helium One. And finally…
WTI $64.49 +91c, Brent $67.56 +80c, Diff -$3.07 -11c, NG $2.97 +4c, UKNG 61.26p +1.02p
Oil price
Oil is without doubt feeling comfortable taking the bull tack at present, whilst the battle between the optimists, who see the USA and China growing fast and with that concomitant rises in demand for gasoline and product across the board and the pessimists who see the virus raging across India is being won by the former. Whatever is happening elsewhere it seems that Covid is in retreat Stateside and the lumber price is up 80% as people restart construction with a boom.