Trap Oil begins operations on Niobe exploration prospect

Oil and gas exploration company Trap Oil has begun operations Niobe exploration prospect in the North Sea.

Drilling is expected to last approximately 31 days in the dry hole case.

The other partners on the licence are Suncor Energy UK, with a 49.5% interest and Norwegian Energy with 22.5%.

Trap Oil's shares had soared 46% to 0.46p by 10:46.