Trinity Exploration & Production (LON:TRIN) has deferred principle payments on its debt for a further two weeks.
The Trinidad oil and gas firm is currently in a formal sale process – which may see asset sales or the sale of the whole company – and today it confirmed that it has extended the moratorium on its debt payments.
Trinity’s lender, which is owed US$13mln, has now agreed to extend the period until July 15.
“The extension of its credit facilities by its senior lender represents their continued support of Trinity and the formal sales process,” the company said in a statement.
Trinity says it continues to progress its strategic review and the sale process, and it remains in regular dialogue with its lenders and creditors.