Trap Oil to plug and abandon exploration well on Scotney prospect

Trapoil has issued a disappointing update on the Scotney exploration prospect, prompting shares to fall over 18 per cent.

Trapoil has issued a disappointing update on the Scotney exploration prospect, prompting shares to fall over 18 per cent.

The firm said that on finding no hydrocarbons it has planned to plug and abandon the well.

The well, which is located on the UK continental Shelf region of the North Sea, was drilled to a target depth of 10,449 true vertical sub-sea, as as such the licence obligation has been fulfilled.

NR

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