13th Jul 2023 11:43
Trinity Exploration & Production PLC - exploration and production company focused on Trinidad and Tobago - Says Jacobin is being sidetracked, with drilling currently in progress. Adds lower cruse section of the well has shown multiple oil-bearing sandstone reservoirs. Adds that the total net pay on the forest and upper cruse targets is 228 feet.
Chief Executive Officer Jeremy Bridglalsingh says: "There is still work to do in order to achieve the total planned depth, with encouraging initial signs thus far. In order to gain a more definitive view we have to successfully complete the sidetrack of the well, and then undertake a data acquisition programme, inclusive of logging, that will provide us with the technical data we need to assess the well's potential. "
Current stock price: 74.22 pence, up 2.4% on Thursday
12-month change: down 21%
By Sabrina Penty, Alliance News reporter
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