Jersey Oil & Gas plc Regulatory News (JOG)

Trap Oil Group plc

 ("Trapoil" or the "Company")

Grant of Options

Trapoil (AIM: TRAP), the independent oil and gas exploration and appraisal company focused on the UK Continental Shelf region of the North Sea, announces that yesterday it granted options over 2,711,742 ordinary shares of 1p each in the share capital of the Company ("Shares") to an executive director and an employee in connection with their recent employment by the Company.

The options have been granted under the terms of the Company's existing unapproved share option plan 2011 (the "Share Option Scheme") and an individual option agreement, as follows:

The new options granted under the Share Option Scheme vest in equal portions over a three year period from, in the case of Mr Kemp 25 March 2011 and in the case of Mr Storey from the date of grant, and are subject to the completion of certain specified performance conditions. The options are exercisable, in whole or in part, at any time up to the tenth anniversary of the date of grant. The exercise price of the options granted to both Mr Kemp and Mr Storey has been set at 43p, being equal to yesterday's mid-market closing Share price.

The new individual unapproved options granted to Mr Kemp are not subject to any performance conditions and may be exercised, in whole or in part, at any time from 25 March 2013 up to the tenth anniversary of the date of grant. These options were granted to Mr Kemp at a discount to yesterday's mid-market closing Share price by way of compensation for options and other benefits surrendered in respect of his former employment in accepting the position of Finance Director at Trapoil with effect from 1 July 2011, as announced previously.

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