26th Aug 2011 16:06
Trap Oil Group plc
("Trapoil" or the "Company")
Change of Auditors
Trapoil (AIM: TRAP), the independent oil and gas exploration and appraisal company focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased to announce that it has appointed PricewaterhouseCoopers LLP to replace TCP Chartered Accountants as auditors to the Company and its subsidiaries with immediate effect, following a competitive tender process.
The resignation letter received by the Company from TCP Chartered Accountants, included a statutory statement confirming that there are no circumstances connected with their ceasing to hold office as auditors that should be brought to the attention of members or creditors. The statutory statement is required under section 519(2) of the Companies Act 2006. The Board of Trapoil also confirms that there are no circumstances in respect of the change of auditors that needs to brought to the attention of shareholders.
Enquiries:
Trap Oil Group plc
| David Kemp CFO
| Tel: 0777 151 2692 www.trapoil.com
|
Strand Hanson Limited | James Harris Matthew Chandler James Spinney
| Tel: 0207 409 3494 |
Mirabaud Securities LLP | Peter Krens
| Tel: 0207 321 2508 |
Cardew Group | Rupert Pittman Shan Shan Willenbrock Sophie Leigh Pemberton
| Tel: 0207 930 0777 |
**ENDS**
Notes to editors:
·; 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.
·; Trapoil has developed long term relationships with key oil industry partners, notably Suncor Energy Incorporated, Norwegian Energy Company ASA and Challenger Minerals (North Sea) Limited, and major suppliers and consultants including CGGVeritas Services (UK) Limited ("CGGVeritas"), Applied Drilling Technology International and Exploration Geosciences Limited.
·; 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.
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