Trinity Exploration & Production plc announced that the Company has progressed its plans to drill the deep "Jacobin" prospect. Working extensively and collaboratively in relation to various approvals with Heritage Petroleum Company Limited, the State-owned oil and gas company, Trinity that it has taken its final decision to drill the Jacobin well, which the Company anticipates will spud in Second Quarter 2023. Trinity's working interest is 100%.

The proposed Jacobin well will be the deepest onshore oil well in Palo Seco region in over a decade. Located in the WD-5/6 Lease Operatorship area, the well will test a structural prospect defined on 3D seismic, with target reservoirs of Lower Cruse Miocene-age turbidite sandstones. The well will also intersect multiple shallower stacked reservoir targets.

The target volume of resources to be exploited is significantand highly material for Trinity, with ameanoil in-placevolume of 5.7 million barrels and an upside case of over 10 million barrels in-place. Success holds the potential for improved economic returns with cash return multiples in the order of 2.4x compared to conventional well opportunities with cash return multiples of approximately 1.4x.