Jersey Oil&gas Regulatory News (JOG)

Trap Oil Group plc

("Trapoil" or the "Company")

Additional Strategic Consortium Partner

Trapoil (AIM: TRAP), the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce that Japan Petroleum Exploration Co., Limited ("JAPEX") has joined the previously announced strategic consortium formed in May 2013 (the "Arrangement") for the principal purpose of considering future exploration and appraisal opportunities in the Department of Energy and Climate Change's ("DECC's") forthcoming UK 28 Seaward Licensing Round (the "28th Licensing Round"). JAPEX has joined as an additional member of the consortium alongside TAQA Bratani UK Limited ("TAQA Bratani"), CIECO Exploration and Production UK Limited ("CIECO") and the Company.

The principal terms of the Arrangement remain unaltered such that each party will, in principle, hold equal working interests in prospects proposed by Trapoil for joint exploration and appraisal applications in the 28 Licensing Round. Each of the parties has agreed to pay Trapoil a lump-sum retainer and to partially carry Trapoil's portion of exploration and appraisal costs.

Trapoil anticipates that the expanded consortium will give rise to a number of applications in the forthcoming 28th Licensing Round. The alliance will continue to be led by Trapoil with operatorship of acquired licences to be reviewed on a case by case basis.

Mark Groves Gidney, Chief Executive Officer of Trapoil, commented:

"The welcome addition of JAPEX to our strategic consortium demonstrates the commitment that major international companies, with significant financial resources, are willing to make in pursuit of successful exploration and appraisal applications in the 28th Licensing Round.

Our partners will draw on Trapoil's considerable experience, expertise and technical capabilities together with our unique access, on negotiated terms, to state of the art seismic data from CGG Services (UK) Limited, thereby benefitting from substantial economies in the initial appraisal of attractive opportunities."

Enquiries:

**ENDS**

Martin David, Technical Director of the Company has reviewed and approved the technical information contained in this announcement in his capacity as a qualified person under the AIM rules. Mr David holds a BSc degree in Geology from the University of London and has over 37 years experience in the oil industry.

Notes to editors:

· TAQA (ADX: TAQA) is a diversified international energy group which is majority owned by the Abu Dhabi government and listed on the Abu Dhabi Securities Exchange. TAQA Bratani is one of the fastest growing exploration and production companies working on the UKCS. Its UK portfolio includes operated and non operated assets in multiple fields historically focused on the Northern North Sea. Its other interests include infrastructure investments such as the Brent System of pipelines and associated facilities. 

· ITOCHU is one of the leading general trading companies in Japan and is listed on the Tokyo and other principal Japanese stock exchanges. CIECO, together with its other group companies, has interests in four oil fields in the UK and an investment in the Brent System of pipelines and associated facilities.

· JAPEX was founded in December 1955 as a special-purpose company under a government initiative, and has continued exploring and producing crude oil and natural gas in Japan whilst expanding its activities to overseas fields. Since December 2003, JAPEX has been listed in the First Section of the Tokyo Stock Exchange. JAPEX has been engaged in exploration and production (E&P) of crude oil and natural gas both in Japan and overseas for more than half a century. It is extremely important for JAPEX to increase its reserves and build a business structure that ensures long-term stability of supply of crude oil and natural gas, since the exploration, development and sale of natural resources are the main pillars of its business activities. In order to realise its corporate objectives, JAPEX has a strong interest in participating in promising projects and discovering new oil and natural gas reserves by being engaged in UK projects with high potential.

· The Trapoil group was created in 2008 by a team of experienced industry executives with a broad range of oil and gas technical, operational and financial expertise and professional skills.

· The Company has developed long term relationships with key oil industry partners and major suppliers and consultants including CGG Services (UK) Limited ("CGG") and Applied Drilling Technology International.

· Trapoil utilises a research-led, knowledge-based approach to identify and deliver promising exploration and appraisal opportunities, and to this end has secured extensive long-term access to CGG's state of the art 3D seismic database over the majority of the Central North Sea area on negotiated terms. CGG is a leading pure-play geophysical services and equipment provider. Access to such 3D seismic data serves to strengthen the group's ability to create opportunities on both open and held acreage in the UKCS.