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!

Update on Scotney Well

25th Mar 2013 15:14

RNS Number : 8125A
Trap Oil Group plc
25 March 2013
 



 

 

Trap Oil Group plc

("Trapoil" or the "Company")

 

Update re Scotney Well

 

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 operations on the Scotney (Licence P.1658, Block 20/5b) exploration prospect ("Scotney") have experienced certain operational and weather related delays. As a consequence, the well is currently approximately 24 days behind schedule. The well is being drilled to an estimated total target depth of 10,690 feet Measured Depth Below Rotary Table ("MDBRT") or 10,580 feet True Vertical Depth Sub Sea ("TVDSS"). 

The partners in Licence P.1658 are Suncor Energy UK Limited (28.75 per cent., operator),Norwegian Energy Company UK Limited (43.75 per cent.), First Oil and Gas Limited (15.0 per cent.) and Trap Oil Limited (12.5 per cent carried interest).

 

Enquiries:

Trap Oil Group plc

 

Mark Groves Gidney, CEO

 

Tel: 0203 170 5586

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

FirstEnergy Capital LLP

Hugh Sanderson

David R. van Erp

 

Tel: 0207 448 0200

 

Cardew Group

 

Shan Shan Willenbrock

Lauren Foster

 

Tel: 0207 930 0777

[email protected]

**ENDS**

 

Martin David, Technical Director of the Company, has reviewed and approved the technical information contained within 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.

 

 

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 partnersand 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.

 

 

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

Related Shares:

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