TRAPOIL will operate the Knockinnon prospect in the North Sea following an equity swap with Caithness Oil.
The deal sees Trapoil taking a further 35% stake in Knockinnon – discovered in 2000 and estimated to contain six million barrels of oil – giving it 70% in total.
In exchange it is giving up a 35% interest in the Forse prospect to Caithness.
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