Jersey Oil&gas Regulatory News (JOG)

14 August 2015

Trap Oil Group Plc

("Trapoil" or the "Company")

Result of General Meeting and Change of Name to Jersey Oil and Gas Plc

Trapoil (AIM: TRAP) is pleased to announce that the resolutions proposed at the General Meeting held earlier today were all duly passed.

The General Meeting was held to approve, inter alia:

· the Capital Reorganisation;

· the amendment of the Company's Articles of Association;

· an increase in the Directors' share capital authorities;

· the change in the Company's name to 'Jersey Oil and Gas plc';

· the allotment of the New Ordinary Shares, including the Consideration Shares and the Placing Shares relating to the subscriptions for 3,711,228 New Ordinary Shares to raise approximately £0.82 million before expenses; and

· related matters, as set out in the notice of General Meeting dated 28 July 2015.

The Acquisition and the Placing remain conditional on Admission.

With effect from Admission, Andrew Benitz will be appointed as the Company's Chief Executive Officer and Ronald Lansdell as its Chief Operating Officer. The new team will pursue a refined business strategy focused on maintaining, developing and exploiting a portfolio of North Sea assets with a greater focus on producing assets in order to seek to unlock the inherent value in the Group's existing tax losses and will seek to assess and acquire potential further North Sea oil and/or gas producing assets, some of which have already been identified and are currently undergoing due diligence and/or subject to ongoing commercial negotiations.

Andrew Benitz, CEO of Jersey Oil and Gas, said:

"The new team welcomes the support received from shareholders and looks forward to driving forward the enlarged group's refined production led strategy with vigour and discipline. There is considerable value potential within the existing asset portfolio and tax loss pool, which will assist us in negotiating the potential acquisition of producing assets in the North Sea going forwards."

The Company also announces that, with effect from Admission, its new website address will be www.jerseyoilandgas.com. Completion of the Acquisition is due to take place on 17 August 2015.

**Ends**

Notes:

Capital Reorganisation

As referred to above, a resolution to approve the Capital Reorganisation was passed today to facilitate implementation of the proposals. Pursuant to this resolution, every 100 Existing Ordinary Shares in issue will be consolidated and subdivided into 1 New Ordinary Share of 1p and 1 Deferred Share of 99p with effect from 5.00 p.m. today. Application has been made to the London Stock Exchange for the New Ordinary Shares (resulting from the Capital Reorganisation), the Consideration Shares, the Placing Shares and the Fee Shares to be admitted to trading on AIM.

Admission to trading in the New Ordinary Shares (resulting from the Capital Reorganisation), the Consideration Shares, the Placing Shares and the Fee Shares is expected to become effective and dealings commence at 8.00 a.m. on Monday 17 August 2015, under the Company's new name of Jersey Oil and Gas plc. From this time, the Company's new London Stock Exchange TIDM will be JOG and its ISIN will be GB00BYN5YK77. On Admission, the Company will have in issue 8,342,012 ordinary shares.

The Company does not currently hold any ordinary shares in treasury. Accordingly, the above figure of 8,342,012 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 in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Company Presentation

A copy of the full presentation made to Shareholders attending today's General Meeting is available to download from the Company's website.

Additional information on the Directorate Appointments

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Jason Andrew Benitz (known as Andrew Benitz) (aged 39)

With effect from Admission, Mr Benitz will be interested in 604,415 New Ordinary Shares, representing approximately 7.25 per cent. of the Company's Enlarged Share Capital.

Ronald John Lansdell (aged 64)

With effect from Admission, Mr Lansdell will be interested in 763,524 New Ordinary Shares, representing approximately 9.15 per cent. of the Company's Enlarged Share Capital.

There is no further information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the Circular to shareholders of the Company dated 28 July 2015.

Enquiries:

The Directors and Proposed Directors of Trapoil accept responsibility, individually and collectively, for the information contained in this announcement and for compliance with the AIM Rules for Companies. To the best of the knowledge and belief of the Directors and Proposed Directors, who have taken all reasonable care to ensure that such is the case, the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

This announcement does not constitute, or form part of, an offer or an invitation to purchase any securities.