Shares rise as operations commence at Trap Oil's Scotney Well
Shares in AIM-listed oil and gas exploration company Trap Oil rose slightly on Monday morning after the company announced that operations had commenced at its Scotney Well in the North Sea.
Shares in AIM-listed oil and gas exploration company Trap Oil rose slightly on Monday morning after the company announced that operations had commenced at its Scotney Well in the North Sea.
Scotney is mapped as a four-way dip closure at the Base Cretaceous Unconformity level with Late Jurassic Tweedsmuir sands as the reservoir objective and best estimate gross prospective resources for the entire prospect of approximately 57m barrels of oil equivalent.
The well is being drilled using 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.
Trap Oil's share price was up 0.92% to 13.75p at 09:08 on Monday.
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