Trapoil saw its stake in P.1267, which covers Blocks 2/25a and 13/21b, rise to 90% following Dana's withdrawal.
The licence lies in the Moray Firth basin on the UK Continental Shelf and contains the Surprise and Nutmeg discoveries which proved oil in the Early Cretaceous Coracle and Punt sandstone reservoirs.
Trapoil has estimated the discoveries to hold gross recoverable resources of 12 million barrels of oil.
The company's future plans for the licence include the drilling of a single sub-horizontal deviated appraisal well in order to establish commercial flow rates from the Coracle reservoir.
If the well is successful, Trapoil will then look to progress the asset to the field development plan stage.
Following the completion of Dana's withdrawal from the licence, Trapoils remaining partners will include First Oil Exploration and First Oil Expro which will each hold a 5% interest in the asset.
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