+1 868 612 0067 info@trinioil.com ABOUT TRINITY OUR ASSETS INVESTORS NEWS CONTACT US Our Assets – West Coast Trinity has been operating and producing offshore the West Coast of Trinidad since 1999. The assets are operated under two licence agreements (the PGB and BM Licences) with the Ministry of Energy and Energy Industries within the Gulf of Paria. West Coast Summary (H1 2019) Assets Working Interest % 2P Reserves mmboe 2C Resources mmboe Avg. Production bopd Opex/bbl US$/bbl Break-even US$/bbl West Coast BM 100% / PGB 70% 2.2 1.0 189 26.9 32.4 The above summary highlights the robust economics of the West Coast operations as a result of stringent cost control. The H1 2019 performance metrics summarised above reflected an average oil price realisation of US$59.1/bbl. In summary: Significant remaining potential identified across West Flank of Brighton field H1 2019 avg. production of 185 bopd Historic recovery rates of 8% across key fault compartments: opportunity for higher recovery rates on new drilling Seven firm locations, four contingent wells depending on success of initial phase Exploration potential in the area evidenced by recent Petrotrin success Profitable & cash flow positive West Coast-Gulf of Paria Point Ligoure-Guapo Bay-Brighton Marine (“PGB”) and Brighton Marine (“BM”) Licences The PGB and BM Licences are located in the shallow transition zone/near shore coastal areas of the Gulf of Paria, downdip of the La Brea Pitch Lake and East and South-East of the Petrotrin operated Soldado and North Marine Fields. The blocks within the PGB and BM Licences have been actively explored since the 1960’s when the deeper Nariva Sands were discovered below the shallow Cruse Sands in wells South of the BM Field. These fields were subjected to uplift due to thrust faulting from the North-West resulting from the Caribbean plate eastwards movement. The faults are also proven hydrocarbon migratory paths for the oil sourced from the Cretaceous age Naparima Hill source rocks. Subsurface Summary: The Nariva Fairway has been producing oil offshore the southwestern coast of Trinidad since the 1950s and over 525 MMbbls have been recovered to date Mainly from the Soldado (>470 MMbbls) and Brighton fields (>55 MMbbls) The Cretaceous Naparima Hill formation provides the world-class source rock for hydrocarbons in the area where the Assets are located While most of the fields in this fairway are mature there are significant resources remaining in the form of under-developed reserves, production optimisation, heavy oil accumulations (ALM22) and near field appraisals and exploration Trinity’s final well’s drilled in 2002 (AS129 and ABM151) found un-depleted compartments – some 47 years after initial production and produced meaningful production Production Potential: Immediate short-term uplift potential of up to 250 bopd from bringing ABM-151 back-on, 17 Infill locations identified/matured from two development programmes (BM inner: 4 offshore & Outer Brighton/Guapo Bay: 2 offshore & 11 onshore land wells) The 11 lower cost land wells are to deplete 0.75 mmbbls Current base production has the potential to rise to almost 2,900 bopd from identified infill locations and. greenfield development programmes at Point Ligoure where ALM-22 tested at over 300 bopd, 16.2 API/437@107 deg.F). TT refinery can take heavy crudes Further upside potential from enhanced oil recovery (EOR) options & expl. prospects Data: logs/well files/geological and sesimic projects are in the digital domain having had significant work done so lend themselves to modern interpretive work flows Portfolio Opportunity Summary Proven hydrocarbon basin with a world-class source rock; Ongoing production (with near term restoration potential of ABM151), translates to an immediate revenue stream; ABM-151: c. 421,000 bbls remaining, work-over potential to bring additional production back on at up to 250 bopd in the BM license area; The Brighton production crude oil gravity averages 35 deg. API and attracts a premium price to T&T land production; The ALM22 heavy oil opportunity: DST tested at over 300 bopd with crude measuring 16.2 API and 437 centipoise at 107 deg. Farenheit (the nearby cluster 6/Jubilee discovery was announced in 2012 by Petrotrin); Commodity handling and sales infrastructure in place (tank farm and compression) & readily available market for all hydrocarbons produced; Low cost operations due to recent optimization projects, near shore location (no helicopters) and a highly skilled operating team; Brighton MP8 platform upgrade and recompletion programme (shows rejuvenation is possible and has been done); 17 well infill drilling opportunity-straightforward drilling in Brighton/PGB (land & offshore wells); Historically high fixed opex; following cost cutting, robust operating break-even at current production levels and oil price Established Facilities: Aerial of Brighton and Pt. Ligoure Land Facilities Point Ligoure-Guapo Bay-Brighton Marine The PGB Blocks lie within the South-West part of the Southern Basin, off the Western Coast of Trinidad in the Gulf of Paria, adjacent to Trinmar’s East and North Soldado Field. The blocks straddle the Los Bajos Fault. The local geology around the PGB Blocks is characterized by large, Southeast-verging anticlines and related, antithetic back thrusts. These were cut and offset by the right lateral, strike-slip motion along the North-dipping Los Bajos Fault. The reservoir rocks in the Point Ligoure Field are within the Cruse, Forest and Manzanilla formations and they are of Upper Miocene to Lower Pliocene in age. Seismic coverage for the PGB Blocks consists of older 2D and 3D surveys merged to provide almost complete coverage of the area with a more recent 3D coverage over the Brighton Marine Inner Block that provides overlapping data coverage. Factors Controlling Oil and Gas Accumulation In the PGB stratigraphic setting, traps are comprised of combination stratigraphic and structural traps. Development The PGB Block has ongoing oil and gas production. Wells within the PGB Blocks have produced in excess of 6 mmbbls of oil to date. The PGB Blocks lie between the production at Brighton and East Soldado Field. The Point Ligoure Field is a relatively small oilfield, approximately 1732 hectares and was first exploited in 1958. To date, the field has produced over 4.5mmbo. Production within the Point Ligoure Block commenced in the 1950’s with long-reach, highly deviated wells drilled from onshore into offshore traps along the South side of the Los Bajos Fault. On the North side of the Los Bajos Fault in Point Ligoure, hydrocarbon bearing sands have also been tested with recoveries of free oil and gas from a couple offshore platforms. The prospect trends identified here have also been tested from platforms immediately West of the block in the East Soldado Field. To date, seventy eight (78) significant tests have been drilled in the Point Ligoure Block. In 2017, the Point Ligoure Block produced approximately 101 bopd from two (2) wells South of the Los Bajos Fault. Brighton Marine Inner The Brighton Marine Inner field is located slightly offshore within Trinidad’s shallow 25ft to 70ft Gulf of Paria waters and is comprised of a thrusted anticline cut by younger strike-slip faults. The field produces hydrocarbons from a number of fault-separated compartments. Hydrocarbon production is proven both on the crest of Brighton anticline and also within down-thrown fault compartments. Structurally down-thrown flank areas include some of the larger cumulative production wells due to decreased structural complexity and lower drilling density. Reservoirs include continental slope and basin floor deposits of the Miocene Nariva Formation fed primarily by the proto-Orinoco Delta. The Nariva is unconformably overlain by the Pliocene Talparo/Springvale formations on the crest of the field and the Brasso formation on the flanks. Cretaceous units are penetrated by three (3) wells in the field, one of which had production. The highly laminated nature of sands and shales of these deep water turbidite deposits enhance the sealing potential within the fault blocks. Brighton Marine Inner field produces high-quality 26° to 46° API crude. Factors Controlling Oil and Gas Accumulation The oil is stratigraphically trapped within the turbidite Nariva Sand but structure plays a critical role for oil accumulation in the updip areas. In Brighton Marine, oil within the more continuous Nariva Blanket Sand are trapped structurally within the Anticlinal closure. Development From 1951 to 1957 Brighton Marine’s hydrocarbons were accessed from long-reach wells deviated from eleven (11) land pads. Between 1957 and 2001, wells were drilled as both stand-alone wells and from nine (9) Marine Platforms. Several new wells were drilled into the field by Venture in 2001/2002, including the highly prolific ABM-151 well with cumulative production exceeding 500,000 barrels of oil. All drilling prior to 2001 was without the benefit of 3D seismic data. The current interpretation benefits from two (2) 3D seismic surveys: one acquired in 1997 and the other shot in 2009. The production mechanism is solution gas drive with artificial lift via gas lift. No long term secondary recovery water flood programs are currently in place. Production for 2017 averaged 110 bopd. This production comes from 50 (most being intermittent producers) of the 316 wells in the Greater Brighton field area. Trinity’s recommended Brighton Marine Inner development strategy is to target the West flank fault Blocks C and E. These areas are relatively undrilled since they could not be easily accessed from the fixed marine platforms during early field development by Texaco. In addition, these areas demonstrate good oil recovery per well. The flank of Brighton is less structurally complex than the crest of the field which is likely also contributing to higher per well recoveries. 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