Trinity Exploration & Production PLC - exploration and production company focused on Trinidad and Tobago - Says Jacobin is being sidetracked, with drilling currently in progress. Adds lower cruse section of the well has shown multiple oil-bearing sandstone reservoirs. Adds that the total net pay on the forest and upper cruse targets is 228 feet.

Chief Executive Officer Jeremy Bridglalsingh says: ‘There is still work to do in order to achieve the total planned depth, with encouraging initial signs thus far. In order to gain a more definitive view we have to successfully complete the sidetrack of the well, and then undertake a data acquisition programme, inclusive of logging, that will provide us with the technical data we need to assess the well’s potential. ’

Current stock price: 74.22 pence, up 2.4% on Thursday

12-month change: down 21%

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