Trinity Exploration & Production PLC (LON:TRIN) has declared itself debt free, following the full payments to convertible loan note holders.
"We are delighted to have repaid early all of our outstanding debts and now being debt free allows us to remain fully focused on the future,” said Bruce Dingwall, Trinity executive chairman.
READ: Trinity raises US$20mln to repay debt and grow production
“Moving forward with a clean balance sheet and a strong inventory of growth opportunities means we look to the future with confidence and are ideally positioned to take advantage of future opportunities as the environment in Trinidad & Tobago evolves."
The Trinidad-focussed junior oil firm in June raised US$18mln through a placing of new shares, priced at 15p, and concurrently gave existing shareholders the opportunity to subscribe for shares on the same terms.