Trapoil (AIM:TRAP) the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf ("UKCS") region of the North Sea is pleased to announce that on 29 January 2013, it entered into a three-year senior secured borrowing base facility agreement of up to US$20 million with an affiliate of GE Energy Financial Services ("the Facility") and associated hedging arrangements with Britannic Trading Limited ("Britannic"), a subsidiary of BP International Limited (the "Oil Price Hedging Arrangements").
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