Trinity Exploration & Production, a UK-based company, has achieved a significant breakthrough in the oil and gas industry with a notable oil discovery in Trinidad and Tobago. The discovery was made at the Jacobin-1 well in the prolific Palo Seco area onshore Trinidad. The well reached a total depth of 10,021 feet, making it one of the deepest wells drilled in recent times in the Palo Seco area.

According to Trinity Exploration & Production, the Jacobin-1 well encountered over 290 feet of net oil pay, including 63 feet in the deeper exploration targets. The company described this as "virgin oil in a super-mature basin," indicating the potential for significant oil reserves in an area that was previously considered mature. The comprehensive logging and pressure sampling program confirmed virgin pressures in the deeper zones, validating the geological model.

Trinity's Chief Executive, Jeremy Bridglalsingh, expressed his excitement over this achievement, stating that finding virgin oil in their mature acreage points to a "step-change" in their understanding of the hydrocarbon system and the remaining resource potential. The discovery opens up new possibilities for the exploitation of these resources.

Flow testing is planned to commence in September to confirm the deliverability of the reservoirs. Once the oil is produced during testing, it will be immediately sold to Heritage Petroleum within the PS4 license area operated by Trinity. This quick monetization of the oil discovery will generate revenue soon after the drilling completion.

The Jacobin-1 well's success has significant implications for Trinity Exploration & Production, indicating the presence of a deeper play across their entire Palo Seco area and the recently awarded Buenos Ayres block. The company's shares experienced a surge, jumping 19% higher following the confirmation of the oil discovery, as investors recognize the potential value of this breakthrough in Trinidad and Tobago's oil and gas industry.