Trinity Exploration (LON:TRIN) has confirmed that its ongoing debt moratorium has been extended further.
Payments relating to the company’s US$13mln debt continue to be suspended until November 20 this year, according to a stock market statement.
"Discussions are ongoing with the lender to secure a longer extension of its credit facilities and management expect for there to be continued support, particularly following the announcement of the sale of substantially all of Trinity's onshore assets for US$20.8 million," the firm added.
"Recent progress evidences the value of Trinity's portfolio through the strategic review and FSP and as part of this, Trinity retains a regular dialogue with its lender and creditors."
Trinity announced last month it had agreed to sell its onshore portfolio to Canadian group Touchstone Exploration (TSE:TXP) for US$20.8mln.