Trap Oil Group was down 28% today after operations were concluded on the Niobe exploration prospect.

The exploration drilled to the target depth and fulfilled its license obligation, but no significant hydrocarbons were found. The well is to be plugged and abandoned.

Trap Oil Group stocks have plummeted over the last 12 months and hit a year low in May.

Their current share price is 0.43p a share, down from 0.62 at close yesterday.