LONDON (ShareCast) - Oil and gas explorer Trinity will plug and abandon its El Dorado exploration well offshore the west coast of Trinidad.

The well failed to encounter significant oil and gas after being drilled to a total depth of 6,174 feet measured depth.

In aggregate of approximately 13 feet of net oil sands and 32 feet of net gas sands were encountered, however it was not deemed commercial enough to continue operations.

"Trinity is naturally disappointed that the El Dorado well has not yielded a commercial discovery," said Chief Executive Monty Pemberton.

"Trinity continues to focus on its infill drilling campaign, delivering first oil at our TGAL-1 discovery in the shortest possible time frame and high grading our exploration portfolio for drilling additional exploration wells at the appropriate time. The Trinidadian upstream industry continues to evolve in a positive manner and Trinity is well positioned to capitalise on future opportunities to grow its portfolio."

RD

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