Trinity Exploration secures another debt repayment extension

AIM-listed Trinity Exploration & Production announced that it has agreed a further extension to the moratorium on principal repayments relating to its outstanding debt balance of $13m (£9m) with its lender until 19 February 2016.

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The company, which is focused on Trinidad and Tobago, said discussions were ongoing with the lender to secure a further extension of its credit facilities.

In addition, it said it expects there to be continued support, particularly following the announcement of the sale of substantially all of its onshore assets for $20.8m back in October.

At 1541 GMT, Trinity shares were down 16.4% to 2.95p.