Trapoil: Drilling Ops Start at Scotney Prospect (UK)

Trapoil, the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf (“UKCS”) region of the North Sea, has announced that operations have commenced on the Scotney (Lence P.1658, Block 20/5b) exploration prospect.

Tweedsmuir sands as the reservoir objective and best estimate gross prospective resources for the entire prospect of approximately 57 million barrels of oil equivalent (“mmboe”) (approximately 7.1mmboe net to Trapoil, unaudited estimate by Trapoil’s management). The well is being drilled using the Awilco WilHunter rig and well operations are currently anticipated to last approximately 36 days in the dry hole case. The well will be drilled to an estimated 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).

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Press Release, February 18, 2013