Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Niobe Well Result

25th Jun 2015 07:00

RNS Number : 1525R
Trap Oil Group plc
25 June 2015
 



Trap Oil Group plc

("Trapoil" or the "Company")

 

Niobe Well Result

 

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, further to the Company's announcement of 08 June 2015, operations are now being concluded on the Niobe (Licence P.1989, Blocks 12/26b & 27b) exploration prospect. The exploration well was drilled to its target depth of 5,005 feet Measured Depth Below Rotary Table ("MDRT") or 4,871 feet True Vertical Depth Sub Sea ("TVDSS") within the Late Jurassic Heather Formation and as such has fulfilled the licence obligation.

 

The well achieved its primary target, being the Burns Sandstone Member within the late Jurassic interval. The well penetrated good quality sands with no significant hydrocarbons. There are no plans to conduct a drill stem test and the well is to be plugged and abandoned.

 

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).

 

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.

 

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

[email protected]

 

**ENDS**

 

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

Related Shares:

Jersey Oil & Gas plc
FTSE 100 Latest
Value8,415.25
Change7.81