Trinity extends debt moratorium to Friday

Oil firm Trinity Exploration & Production (LON:TRIN) told investors it had further extended the moratorium on its debt repayment whilst it awaits the closing of an asset sale. The company said the moratorium on its outstanding £13mln debt now runs until February 5. It said in a brief statement: “Discussions are ongoing with the lender to secure a further 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." It comes after the company agreed the asset disposal to secure enough funds to secure its financial future. Shares fell 14.82% to 2.5p.