Scandoil  

LGO Energy refute Trinity's claim of SPA breach


Published Aug 24, 2015
LGO Energy

LGO is aware of the misleading allegation made by Trinity Exploration & Production Plc ('Trinity') in its recent Q2 2015 Operational and Financial Update RNS concerning the Sale and Purchase Agreement ('SPA') signed in 2014 with respect to the Tabaquite Block. LGO, having taken legal advice, refute in its entirety Trinity's claim that LGO is in breach of the SPA. LGO have previously put Trinity on notice that they are the party that have breached the SPA and that until Trinity remedy that breach LGO is unable to proceed further with the agreement.

The Company has both directly and through its legal representatives notified Trinity of their breach of the SPA and of their need to remedy that breach so as to allow the agreement to proceed. LGO has consequently reserved all of its rights to take such action as it deems necessary against Trinity to protect the Company and its shareholders' interests.

Tags: LGO Energy, Trinity Exploration




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