Trap Oil Grp Share Discussion Threads

[captain james t kirk] 13/6/2015 08:45

IrnBru2

I'm not being condescending but if you are going to quote posters could you either put the copied text in italics or start and finish with quote marks please.
It's a tad confusing.
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It appears to have been lost on at least one poster that some investors have 3 or 4 bagged on TRAP over the past few weeks.

[irnbru2] 13/6/2015 00:00

bones,

I like your style.

[irnbru2] 12/6/2015 22:28

cyan,

Thanks for your observations.

Yes, it was part of b698 post.

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What I am trying to say is, Athena has been mismanaged, from reservoir persective.

I know, Ithica will never turn it round. (and who the hell are BW).

I am a PMG shareholder, and am looking at the possibility of PMG being operator, or at least having a hands on operating decision making, because Ithica have failed.

The NS littered with oil fields that were abandoned by bad operators, and subsequently, were made a sucesss.

There is zero doubt, that Ithica or TRAP can do this.

My point is, PMG might.

[irnbru2] 12/6/2015 20:35

Surprised cyan isn't banging on about them extending athena and drilling another well, lmao sorry but that was comical . A bit like the investor being able to read the accounts and trying to tell me athena/trap was profitable . You couldn't have got it any more wrong if you tried .

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Not sure about that.

There must be a case for getting the engineering right, and getting a higher flow from Athena.

It is obvious that this will never be achieved by Ithica or TRAP engineers.

This why I floated the idea of PMG taking the TRAP % of Atheana ( as it must be up for sale) and actually get it right.

[bones698] 12/6/2015 15:21

Lol suckered in and spat out anyone falling for the pump and dump deserves to get stung . Read the rns going bust very shortly and probably not around to see niobe result . Not like they can do anything with it even if it hits as they will need cash just to keep going and selling niobe would take months . Best case huge dilution. Worst case and most likely bust. Bee threads for ages . Last ditch suckers rally

[cyan] 12/6/2015 15:15

There was a really brave gambler who bought a million after todays RNS.
Must be very rich to risk on an all or nothing bet.

[soul limbo] 12/6/2015 15:05

the share was running away from what i think a placing that they will do at a price far lower than what it is now (at a price before the spike). Hence management issuing this dire RNS to get the price down and so make the placing more palatable to shareholders.

[cashandcard] 12/6/2015 15:02

Well it does seem this ship has been all about management creaming it while shareholders scrub the deck.


Cash

[greyingsurfer] 12/6/2015 14:57

If it wasn't loss making I would have thought they would be able to go on without financing further than today's RNS suggested.

They've still got to pay themselves, and we know management teams of this calibre don't come cheap :-)

[bustedflush2] 12/6/2015 14:48

This will go bust soon mark my words.

[ngms27] 12/6/2015 14:42

If it wasn't loss making I would have thought they would be able to go on without financing further than today's RNS suggested.

I rest my case.

[captain james t kirk] 12/6/2015 14:37

Agreed, the big question is how much of the £850k per month is "nett cashflow from the field" (or rather 15% of the field) of which TRAP now get 50%.

[greyingsurfer] 12/6/2015 14:32

Athena is loss making at the current oil price and is within 18 months (if not sooner) of being abandoned and decommissioned.

Is it though? We haven't seen any detail of the new FPSO arrangements yet, other than they would lead to a reduction on opex. Plus the PoO has risen from its low point. It seems to me we don't know at present whether Athena is loss making or not. Not going to be much positive cash flow certainly at these oil prices, but it's quite possibly not loss making.

Peter

[ngms27] 12/6/2015 14:13

Of course it was necessary as the stock exchange asked them to explain the 100% plus share price rise