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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Trap Oil Grp | LSE:TRAP | London | Ordinary Share | GB00B3Q57427 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.225 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
12/6/2015 13:52 | Horndean eagle, hi, are you the eagle who attend the AGM last month? I chatted with you. D | don777 | |
12/6/2015 13:50 | Quite, the surprise is that it was completely unnecessary. | captain james t kirk | |
12/6/2015 13:47 | Why is todays RNS such a surprise ? I thought most posters here were already aware of the earlier clear warnings as in 23rd April RNS It seems some have not researched much before buying here. The Directors, in conjunction with the Company's advisers, are therefore continuing to urgently assess a number of potential funding sources, including the potential disposal of certain of the Group's licence interests. The Directors believe that the Company currently only has adequate working capital to support its activities until around July 2015 but are comfortable with preparing the financial statements on the going concern basis as there is a reasonable prospect that drilling of Niobe may be successful and, that asset sales may be undertaken, in addition to which the Directors are actively holding conversations to seek additional shareholder support to secure further funding. The Directors are taking appropriate advice as to the options available to the Company and are cognisant of their obligations to all stakeholders. However, in the event that further funding is not secured in the short term, the Board believes that it is highly likely that the Company will become insolvent, and appropriate insolvency proceedings, such as administration or liquidation, will consequently need to be commenced. A further announcement will be made in due course as appropriate. | cyan | |
12/6/2015 13:43 | Second Eliot wave ! | jxman | |
12/6/2015 13:37 | Do wonder what audience they playing upto with that announcement. Maybe trying to force the hand of the athena partners. Buying from yesterday I would guess was tied in with talks that are ongoing. That respect you would have thought they expected good news. Seems like they may have got the wrong end of the stick. | horndean eagle | |
12/6/2015 13:23 | That is one horendous RNS today...... | chesty1 | |
12/6/2015 12:35 | Another kick in the teeth. Just never fails on that front. Dana might buy Trap share in field next to liberator. Athena partners could just keep the de-comm costs and let TRAP off the hook for anything else. Biggest issue seems to be ongoing cashburn. Thought the snouts had been taken out of the trough when the ex-management were got shot of. Unfortunately not. Do have to ask yourself why they bothered with Niobe and whether they could have weaselled out of it. Id hope they can maintain the listing at least. Cash shell is worth a few quid in current markets. | horndean eagle | |
12/6/2015 11:25 | Numis made some comment on costs at Athena in this note in March, they said mid-60s per barrel and expected to come down with the new arrangements. | rogerlin | |
12/6/2015 11:11 | Probably had a query to the LSE about the price movement.As for drilling costs, Trap pre-paid their contribution in January if you believe the news flow, so it's all about the result.Just have to get through the next couple of months, A duster would be the final nail but a good result would produce significant returns.Not for the faint hearted.M | dgarvey | |
12/6/2015 11:09 | Phowdo, agree, I think they are working for big shareholders, take the share price down, suspend it, what they will get is more than 1P later. Trap has £60 million tax credit, Total compensation, several licenses. they might run out of working capital, but after the new deal for Athena, there is not much liability left as well. D | don777 | |
12/6/2015 10:42 | Small marginal fields, anywhere, are going to be under pressure for sometime. As others have said, this is all about Niobe or bust. The last few lines of the RNS today are grim. Cash | cashandcard | |
12/6/2015 10:42 | Curious why they released that statement. Its almost as if the BoD are delibrately talking the company down to preserve their jobs given a lowball takeover? | phowdo | |
12/6/2015 10:39 | Why? Athena is loss making at the current oil price and is within 18 months (if not sooner) of being abandoned and decommissioned. | ngms27 | |
12/6/2015 10:38 | I assume PMG / Tom C would be interested in the TRAP Ithica position. | irnbru2 | |
12/6/2015 10:36 | Absolutely nailed it :) | ngms27 | |
12/6/2015 10:24 | Great RNS .... Don't invest here were going bust ! | bckttsim | |
12/6/2015 10:24 | Hahaha I knew it was coming. Trap Oil Group plc Stmnt re Share Price Movement Alert TIDMTRAP RNS Number : 0246Q Trap Oil Group plc 12 June 2015 Trap Oil Group plc ("Trapoil" or the "Company") Statement re:share price movement Trapoil (AIM: TRAP), the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf region of the North Sea, notes the recent rise in the Company's share price. Further to the Company's final results announcement of 23 April 2015, the Company's directors, in conjunction with the Company's advisers, are continuing to urgently assess a number of potential funding sources, including the potential disposal of certain of the group's licence interests, and are in discussions with the group's principal creditors, shareholders and potential investors, however no firm decisions or conclusions have yet been reached and there can be no certainty that a viable funding solution will be forthcoming. The Directors continue to believe that, absent a viable funding solution, the Company currently only has adequate working capital to support its activities until early July 2015. A further announcement will be made in due course as appropriate. | bad robot | |
12/6/2015 09:55 | Good morning ngms27. Very fair comment. Trap would sell. | cyan | |
12/6/2015 09:52 | Trap won't be part of developing Niobe, they wouldn't get the cash to do so. The best they can hope for is a discovery, raise some cash and then sell the asset and run to the hills. It is Niobe or bust IMHO | ngms27 | |
12/6/2015 09:44 | Hi rogerlin. I keep asking myself is TC going to roll over and accept defeat , abandoning Athena with expensive early decommissioning costs. The effect of the new revenue agreement with BW is opaque to me. I am not clear where we will stand on the loss, or in my dreams, profit account. Still likely at a loss though reduced. I would feel much happier if we were nearer $80 a barrel. Its all about Niobe which odds on is more likely a failure but whose best numbers are truly transformational. If we were to be VERY lucky I think Niobe's development costs would be very reasonable compared to other N. sea fields due to its location etc. Its a big gamble, a roll of the dice. Roll a six and its party time; anything else........ | cyan |
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