TrapOil Eyes Investment in British Unconventional Hydrocarbon

TrapOil said it is considering new opportunities in the British unconventional hydrocarbon sectors to increase its shale portfolio. 

According to the North Sea firm, it intends to deliver value for shareholders. 

‘Its share price has already risen 44% this year, meaning Trapoil’s shareholding is worth just north of £6mln,’ reads a note released on Wednesday.

The company plans to spend £2 million on its licence interests, mentioning Total’s investment as the proof of increased attention to shale activities in the United Kingdom.