Trinity Exploration & Production (GB:TRIN) has released an update.
Trinity Exploration & Production, an E&P company operating in Trinidad and Tobago, experienced a 9% production decline in the first half of 2024, managing an average net sales volume of 2,595 barrels of oil per day. Financially, the company saw stable revenues of USD 33.8 million, despite lower production offset by higher oil prices, and ended with a cash balance of USD 8.0 million. Additionally, Trinity is navigating takeover offers, having withdrawn its recommendation of Touchstone’s all-share offer in favor of Lease Operators Limited’s all-cash acquisition proposal, subject to shareholder and court approval.
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