Trapoil, the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf (“UKCS”) announces, further to the announcement of 9 September 2013, that all the outstanding conditions precedent to the disposal of its interests in Knockinnon, Lybster and certain other assets to Caithness Oil Limited (the “Disposal”) have now been satisfied.
As such, Trapoil has been issued 4,084,198 shares in IGas Energy Plc (adjusted to take account of working capital movements).
The terms of the Disposal otherwise remain unchanged from those set out in the announcement of 9 September 2013.
[mappress]
Press Release, December 09, 2013