Trapoil is an independent UK oil and gas exploration and appraisal business with a geographic focus on the UK Continental Shelf (UKCS).
02/05/13
Result of AGM02/05/13
Acquisition of additional 85 per cent. in Surprise02/05/13
New Strategic Consortium Partners12/04/13
Scotney Well Update12/04/13
Annual Financial Report
02/05/13
Shares in the North Sea Oil company Trapoil (LON:TRAP) spiked almost 8% after it unveiled TAQA and the UK oil and gas arm of Japan’s ITOCHU as its new partner for the next North Sea licensing round. “This is a direct reflection of our considerable experience, expertise and technical capabilities," said chief executive Mark Groves Gidney.
28/03/13
North Sea focused TrapOil has established a strong foundation for growth and looks to commercialise existing discoveries and build "exciting" exploration programmes.
11/02/13
First Energy Capital has restated its ‘outperform’ call and 25 pence a share price target for Trap Oil following its agreement to acquire one-third share of the Trent East Terrace gas project.
03/05/2013
02/05/13
FTSE 100 ends up after choppy day
02/05/13
FTSE 100 on the up ahead of ECB meetShare Tip: Investors Chronicle - Buy - BULL POINTS Cut-price exploration model - Busy drilling programme - Revenues likely to come through shortly... read more
Trapoil was created in 2007 by a team of experienced industry executives with a broad range of oil and gas technical, operational and financial expertise and professional skills. Since then, we have utilised a research-led, knowledge-based approach to identify a number of promising exploration and appraisal opportunities.
We have developed long term relationships with key oil industry partners, notably Suncor, Noreco and Challenger Minerals, and major suppliers and consultants including CGG Veritas Services Limited, Applied Drilling Technology International and Exploration Geosciences Limited.
Trapoil's asset portfolio currently comprises 21 licences and 29 blocks in the UK Continental Shelf ("UKCS").
Our business
Our current portfolio comprises a mix of carried and paying interests in 21 licences (29 blocks and part blocks) consisting mainly of exploration and appraisal assets with a minor amount near term production.
Our strategy is to generate growth and long term value through participation in the exploration and development of our existing asset base and though the aquisition of additional acreage and assets, both on a consortium and unilateral basis.
World leading seismic data
Our relationship with CGGVeritas allows us to work alongside our partner companies with the latest generation 3-D long offset seismic database, covering most of the Central North Sea, as well as having access to CGGV's specialist technologies to de-risk drilling opportunities. From these and other data sources, and together with the services of Exploration Geosciences Limited in the North Sea only, Trapoil generates and negotiates drill-ready exploration and appraisal opportunities for our partners.
Our Assets
For further details of TrapOil's assets please click here
Key Relationships
To develop our prospects, we have established contractual relationships with CGG Veritas (CGGV) and Exploration Geosciences Limited (EGL) on the technical front, and with Suncor, Noreco and other first tier oil and gas companies as partners.
Suncor/Noreco
CMI
Exploration Geosciences Limited (EGL)
OPES International (OPES)
CGGVeritas
ADTI
Kevin Watts - Non-Executive Chairman
Kevin Watts is a Chartered Accountant with more than 20 years' experience in the oil industry. He was most recently the President and Chief Executive Officer of Stratic Energy Corporation, from 2005 until 2010. Previously, he held roles in senior positions and business development at Enterprise Oil plc from 1984, serving on its executive committee from 1995 to 2002 and on the main board, as Corporate Development Director, from early 1998 through to 2002. He is a member of the Institute of Chartered Accountants in England and Wales.
Mark Groves-Gidney- Chief Executive Officer
Mark Groves-Gidney has over 30 years' experience in petroleum exploration, development and finance. Previous roles held in UK onshore, offshore and international basin analyses and prospect generation led to discoveries in the UK, Holland and Canada. Mr Groves-Gidney established and developed Exploration Geosciences, as a co-founder and Managing Director. He sits on the board of a number of private companies and was formerly a non-executive director of SeaEnergy plc (formerly named Ramco Energy plc).
Paul Collins- Chief Operating Officer
Paul Collins joined Trapoil in 2008 and has 28 years' experience in the oil and gas industry, across drilling and engineering disciplines including production, facilities installation, completion of wells and an extensive array of sub-sea production systems. He has been responsible for budget preparation and cost control for operated fields and projects. Previously, he managed an international business for Palace Exploration Company, a US company holding exploration and production assets on the UKCS.
Martin David - Technical Director
Martin David has over 35 years' experience in the oil industry, including technical, operational, financial and commercial management of exploration portfolios and new venture evaluations. Previously, he held positions with Unocal UK Limited, Deminex UK Oil & Gas Limited, Veba Oil & Gas UK Limited, and was Exploration Director of North West Europe with Suncor Energy Incorporated. He chaired the UK Offshore Operators Association Exploration Committee and has been Secretary of the Petroleum Exploration Society of Great Britain.
David Kemp - Finance Director
David Kemp is a Chartered Accountant with 20 years' experience in oil and gas. Previously, he held positions as Vice President-Finance North Sea and Canada of Technip SA, Head of Finance-Europe for the Amerada Hess Corporation and led the oil and gas E&P team at Simmons & Company International, working on asset acquisitions and divestments, fund raisings and other corporate transactions. He joined Trapoil in 2011 and is a member of the Institute of Chartered Accountants in Scotland.
John Church- Company Secretary and Financial Controller
John Church is a Chartered Accountant with over 30 years' experience across a variety of industries, having worked with both small and large companies in the private and quoted arenas. Mr Church founded TCP Chartered Accountants in 1985, which was subsequently sold in 2008 when he joined Trapoil. In addition, Mr Church currently sits on the board of a number of private companies, ranging from early stage resource companies to property companies, and is a Fellow of the Institute of Chartered Accountants in England and Wales.
Elwyn Jones - Non-Executive Director
Elwyn Jones is the founder and Managing Director of GeoPartners Limited, a consultancy company specialising in seismic value creation. Previously held roles include Senior Vice-President of the CGGVeritas Data Library from 1997 to 2009, Vice-President of PetroAlliance/Western Geophysical's Marine division from 1995 to 1997, President of DG Seis/Caspian Geophysical and Digicon Exploration Limited from 1993 to 1995 and 1989 to 1993, respectively.
Marcus Stanton- Non-Executive Director
Marcus Stanton is a Chartered Accountant with extensive experience in investment banking. Previously held roles include Chief Operating Officer of Global Capital Markets and Head of Structured Finance at Robert Fleming & Co. from 1993 to 2000, Director of Hill Samuel & Co. and non-executive of Velosi Limited. He also acts as a financial expert witness in litigation involving banks and is a member of both the Institute of Chartered Accountants in England and Wales and the Chartered Institute for Securities and Investment.
Miles Newman - Non-Executive Director
Miles Newman has 27 years' experience working as a geoscientist and entrepreneur in the upstream oil and gas industry. Previously held roles include New Ventures manager at Kerr-McGee from 1988 where he was responsible for building a large portfolio of blocks in China, Brazil, Yemen and Thailand. In 1999 he became the Exploration Manager for Kerr-McGee in Aberdeen. In 2002 he cofounded Reach Exploration (North Sea) Limited, developing a portfolio of exploration, appraisal and development Licences in the North Sea and participated in several discoveries prior to the sale to Trapoil in 2011.
Bill Arnold - General Manager
Bill Arnold, is a chemical engineer with over 40 years experience in the oil and gas industry. He has worked across a wide range of technical and management disciplines for Esso Petroleum, KNPC, UER Inc, SIP Limited, Gulf Resources Corporation, Kyrgyz Petroleum Company, Bioleum plc and MPC Limited, including senior executive and CEO/President level positions. Bill is familiar with all aspects of the industry from exploration and production, refining and pipelines, through to contracts, shipping, marketing and oil trading (both speciality and commodity). Bill has advised on fiscal regime to government and developed complex production sharing contracts. Outside oil and gas, Bill has worked extensively in the mining industry, particularly on gold, manganese, iron, aluminium, copper and coal projects. Bill holds an MBA from Harvard University and he is a highly experienced manager with a track record of start up and development of new companies.
Duncan Penrose - Advisor to the Board
Duncan Penrose, is a Chartered Accountant with considerable experience of the investment banking industry. He was a corporate finance executive at Lazard Brothers & Co in the mid 1980s before being appointed as Head of Equity Capital Markets at HSBC Investment Banking - a position he held until the early 1990s. Subsequently Mr Penrose spent two years at board level with NationsBank (Europe). Since the mid 1990s he has worked largely as a consultant primarily with SMEs looking to finance their development from the private or public equity markets and was instrumental in positioning Trapoil for its admission to AIM. Mr Penrose is a member of the Institute of Chartered Accountants in England and Wales.
James Storey - Exploration Manager
James Storey, is a geologist with over 25 years' experience in the oil industry with experience of a range of exploration and new venture project evaluations, largely focused on North Sea basins and the Atlantic Margin, which have led to a number of discoveries in the United Kingdom, Denmark and the Netherlands. Mr Storey has worked with a number of oil companies including Deminex UK Oil & Gas Limited and Veba Oil & Gas UK Limited. Between 2001 and joining Trapoil, Mr Storey held the position of Team Leader Exploration, UK, Denmark and Faroes with Suncor Energy Incorporated (previously Petro-Canada UK Limited). He holds a BSc in Geology from Durham University, and a MSc in Petroleum Geology from the Royal School of Mines, Imperial College London.
| JP Morgan Asset Management (UK) | 10.96% |
| Henderson Global Investors (UK) | 8.82% |
| Ms Isobel Davies | 5.14% |
| Mr Miles Newman | 5.14% |
| Schroder Investment Management (UK) | 5.07% |
Cardew Group
Telephone: +44 20 7930 0777
Email: trapoil@cardewgroup.com
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