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Niobe prospect update

8 Jun 2015 07:00

RNS Number : 4442P
Trap Oil Group plc
08 June 2015
 

Trap Oil Group plc

("Trapoil")

Update re. Niobe prospect

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 operations have commenced on the Niobe (Licence P.1889, Blocks 12/26b & 27) exploration prospect ("Niobe").

The well is being drilled using the ENSCO 100 jack up rig and well operations are currently anticipated to last approximately 31 days in the dry hole case.

The ENSCO 100 rig left Dundee shipyard on 4 June 2015 and is currently under tight tow to the Niobe prospect location.

The partners in Licence P.1889 are Suncor Energy UK Limited, operator (49.5 per cent. equity interest), Norwegian Energy Company UK Limited (22.5 per cent. equity interest) and Trap Oil Limited (28 per cent. equity interest, of which 2.5 per cent. is a carried interest).

Enquiries:

Trap Oil Group plc

 

Scott Richardson Brown, Finance Director

Tel: 020 3691 2015

www.trapoil.com

 

Strand Hanson Limited

James Harris

Matthew Chandler

James Spinney 

 

Tel: 020 7409 3494

FirstEnergy Capital LLP

Hugh Sanderson

David van Erp

 

Tel: 020 7448 0200

 

Cardew Group

Shan Shan Willenbrock

Tom Horsman 

Tel: 020 7930 0777

trapoil@cardewgroup.com

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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