Leni Gas & Oil has signed a binding Heads of Agreement (HOA) to acquire a 100% interest of the producing Trinity-Inniss Field in south-eastern Trinidad, close to the Company's existing Goudron Field operations. LGO plans to acquire 100% of Fram Exploration (Trinidad) Limited (Fram), the company holding the Incremental Production Service Contract (IPSC) for the Petroleum Company of Trinidad and Tobago Limited (Petrotrin) owned Trinity-Inniss Field.

The HOA is subject to a number of material conditions, including the negotiation in good faith of a definitive agreement and legal, financial, taxation, stakeholders consent, and commercial due diligence on Fram and its business, assets and liabilities.

Tags: Leni Gas & Oil Plc