Trinity Exploration tumbles as Centrica deal is terminated

Shares in Trinity Exploration & Production tumbled after the company said late on Monday that it has been unable to extend the term of its agreement to complete the purchase of 80% interests in two blocks offshore Trinidad from Centrica.

As a result, the sale and purchase agreement between Trinity and two subsidiaries of Centrica has been terminated.

The deal with Centrica was made in July 2014 for $23m.

At 10:25, Trinity shares were down 26% at 8.50p.