Jersey Oil&gas Regulatory News (JOG)

Trap Oil Group plc

 ("Trapoil" or the "Company")

Exercise and Grant of Options

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, announces that it has granted options over, in aggregate, 5,550,000 ordinary shares to executive directors, officers and employees at an exercise price of 15 pence per share (the "Options"), representing a premium of approximately 25.87 per cent. to the average of the Company's mid-market closing share price for the three trading days prior to the date of this Announcement.

Grant of Options

The Options, which vest as to one third immediately, one third in one year's time and one third in two years' time, are not subject to any performance criteria, and may be exercised, in whole or in part, at any time up to the tenth anniversary of the date of grant. The award includes options that could not be granted, in accordance with the Company's normal award cycle, in 2012 because of closed trading period restrictions.

Grants to individual executive directors and officers under this award are as follows:

The awards have been made under the terms of the Company's existing Unapproved Share Option Plan 2011 ("Unapproved Scheme").

Exercise of Founder Options

In connection with these awards certain executive directors and officers have agreed to increase their direct shareholdings in the Company by some 1,258,914 ordinary shares ("Ordinary Shares") by exercising, as of today, an equivalent number of founder options granted at IPO at an exercise price of 1 penny per share (the "Founder Options"). Accordingly, application has been made for the admission of 1,258,914 Ordinary Shares to trading on AIM. The Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares. It is expected that admission will occur at 8.00 a.m. on 5 June 2013.

Following the exercise of the Founder Options and grant of the Options, together with share options granted to Scott Richardson Brown and Michael Cameron, as announced on 31 may 2013, there will be options outstanding over, in aggregate, 18,422,589 Ordinary Shares, representing approximately 8.11 per cent. of the Company's existing issued share capital.

Total Voting Rights

Following admission of the Ordinary Shares, the total number of voting rights in the Company's Ordinary Shares will be 227,169,331, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Service Authority's Disclosure and Transparency Rules. The Company does not hold any Ordinary Shares in treasury.

Enquiries:

Notes to editors:

·; The 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.

·; Trapoil has developed long term relationships with key oil industry partners and major suppliers and consultants including CGGVeritas Services (UK) Limited ("CGGVeritas") and Applied Drilling Technology International

·; The Company 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 CGGVeritas' state of the art 3D seismic database over the majority of the Central North Sea area on negotiated terms. CGGVeritas 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.