North Sea explorer Trapoil announced onMonday that it is doubling its portfolio onthe UK Continental Shelf through the acqui-sition of privately owned Reach Oil and Gasin a deal worth around ￡30 million ($48million). Trapoil said it will pay Reach ￡20million in cash and around 23.2 million innew ordinary shares.In return, Trapoil will pick up interestsin 14 North Sea exploration licenses heldby Reach’s two wholly owned subsidiaries,Reach Exploration and Reach Petroleum,covering 24 blocks and part-blocks. Thisincludes an increased interest in thepromising Orchid well, due to spud thisautumn.Trapoil said Reach also has around￡17 million in carried drilling costs forseven initial wells due to be drilled in thenext two years.
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机译：北海勘探公司Trapoil周一宣布，将通过收购私人拥有的Reach Oil and Gasin公司，将其在英国大陆架上的投资翻一番，交易价值约3000万英镑（4800万美元）。 Trapoil表示将支付Reach 2000万英镑的现金和约2320万股新普通股。作为回报，Trapoil将在Reach的两个全资子公司Reach Exploration和Reach Petroleum持有的14个北海勘探许可证中获得权益，包括24个区块和部分区块。块。 Trapoil表示，由于即将到来的秋季，对有希望的Orchid井的兴趣日益增加。Trapoil说，Reach在接下来的两年中还将钻探7口初始井，其携带钻探成本约为1700万英镑。
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