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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