Trapoil Acquires Interest in Block 29/1c Orchid Discovery

Source: www.gulfoilandgas.com 3/12/2013, Location: Europe

Trapoil, 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, further to the Company's announcement of 7 January 2013, that it entered into a definitive sale and purchase agreement on 11 March 2013 in relation to the acquisition of an additional 45 per cent. working interest in Licence P.1556, Block 29/1c containing the Orchid oil discovery from Summit Petroleum Limited for a cash payment of £1.5 million.

Completion of the Acquisition is conditional upon, inter alia, receipt of the requisite Department of Energy and Climate Change (DECC) and partners' consents following which the working interests of the remaining partners in exploration Licence P.1556 will become Trap Oil Limited (60 per cent. and operator), Valiant Exploration Limited (30 per cent.) and Atlantic Petroleum UK Limited (10 per cent.). There are currently no work programme commitments outstanding to either DECC or the licence partners.


Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...
Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...

United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...
Brazil >>  8/5/2022 - Petrobras, following up on the release disclosed on 08/14/2020, informs that it has concluded today the sale of all its stakes in the onshore fields o...

Brazil >>  8/3/2022 - Petrobras, following up on the release disclosed on 01/29/2021, informs that yesterday it has finalized the sale of all its stakes in the producing fi...
South Korea >>  8/3/2022 - The MunmuBaram project off the south-east coast of South Korea is one of the biggest planned floating wind farms in the world and is set to play a sig...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.