Trap Oil Grp Share Discussion Threads

[cashandcard] 12/2/2015 11:39

au24,


It can be done, but needs a radical overhaul ala Nighthawk Energy. They were on the brink of failure after failed wells and massive w/o and impairment charges with only circa 30bopd from mediocre nodding donkey wells. A change in management, operational control & a small but lucrative oil discovery changed everything. Today they produce over 2,000bopd and have circa 800bopd hedged at $74.55 - a substantial revenue stream - while maximising their stretch of oily acreage by partnering with 'on-trend' competitors. They also have access to finance beginning at $35mln and upto $100mln if need be.


Cash

[au24] 12/2/2015 11:28

Very rare that a sinking share ever recovers in my many years of following AIM. Lost a few bob looking for bargains when the slide had set in.

[loughton] 12/2/2015 11:05

He must be showing pretty hefty losses now. Wonder if he is just throwing good money after bad at this point.

[cashandcard] 12/2/2015 09:00

Agreed. btw, have you seen PVR/logp announcement the otherday? Looks dreadful, I can see them going to penny status if a cash-bearing deal cannot be concluded. Their flagship BR field, far from delivering oil now, according to some analysts may not produce a barrel of the black stuff until 2019-2020.


Cash

[bones698] 12/2/2015 08:42

Cash I seriously doubt niobe will get drilled with oil down here , athena will drain every penny from trap now even the compensation etc . The only outcome I see where holders get something albeit less than what it is now is if PG steps in to buy the lot otherwise it's a car if when not if trap goes under imo

[cashandcard] 12/2/2015 08:28

The slaughter at trap continues.

I guess anyone buying in now must be looking at it from 2 angles;

-Oil price recovery later in the year
-Potential for (default) payments from Total and others

Apart from that, it would be nuts to invest on the back of Niobe drill. That's a live or die roll of the die - but then what difference does it make, trap is already toast.


Cash

[bones698] 12/2/2015 08:13

Ouch even worse than I thought then I thought it would have been 12 months from the renegotiation but it's longer . That's the final nail in the coffin athena will bleed all the cash and more from trap unless oil recovers to over 80 very quickly which is highly unlikely . Not even like it will get anywhere near that date though I expect it to wound up or sold to PG for a quid imo .

[mount teide] 12/2/2015 00:51

Athena FPSO - The field partners are contractually committed to around $120m of charter costs through to April 2016(the earliest release date for the vessel).

It remains a complete mystery to me why the field partners elected to commit themselves in June 2014 to extend the FPSO charter by at least another 12 months through to April 2016 - long term vessel charter contracts generally are written to give the charterers the flexibility to leave a decision on exercising any charter extension options until around 3 months from the expiry date of the fixed charter period - which means the partners could have left the decision to extend to possibly as late as Jan 2015.

[rbonnier] 12/2/2015 00:01

Looks like this was a trap !

[bones698] 11/2/2015 23:30

Cyan she was singing 12 months ago but you didn't hear it , now your left looking at a total loss or very close to it so congrats on yet another person getting it totally wrong

Huge pants think trap bod should be the ones on stage as they have ran trap like a comedy show . Still you must be happy with their progress as your still in nursing heavy losses because you don't have a clue . Look at some of the other posters telling you it's going down yet your still oblivious . Please tell us how trap will make you any money from here as obviously the market and s lot of people now think otherwise . My guess is you can't so resort to name calling because you can't post a decent counter argument . You have always posted dribble a lot like cyan tbh but at least your getting what you deserve I guess . A fool and his money , well what little is left of it .

6 months max watch this space , remember I have got this spot in so far and I'll be proved right yet again. Only a few months ago I said worthless and sub 1p and here we are lmao

[cyan] 11/2/2015 22:18

Good evening HugePants.
Bones behaves likes the guy who stands besides the grieving relations at the graveside delighting in loudly saying "I told him not to do it, I knew this would happen"

Its not all over till the fat lady sings.

[hugepants] 11/2/2015 21:16

bones you are hilarious. You should really consider doing stand-up. Anyway its pointless trying to argue with you since you obviously can't read or count.

[hugepants] 11/2/2015 16:32

6 months max? What planet are you on? At 380K outflow per month (which I think includes Traps G&A costs) then they have 15 months left, and even that allows for the £1.3M owed for decommissioning.

There is also oil in transit and compensation due from Total. And a fully paid drill on Niobe.

[bones698] 11/2/2015 16:27

By the same logic if he was writing that rns then why buy last week and also should he be able to buy if so close to news being released etc . I think he isn't as close to the bod as you think

[bones698] 11/2/2015 16:22

The important question is how long do they have left imo it's deteriorating eve faster than I thought tbh and the fact athena is likely to keep pumping for a while yet at least until the contract is up will be the end of trap . Even total compensation and niobe refund will get swallowed up paying for athena and remember that even if it was halted they are still liable for the fixed costs until the contract is up so better to keep pumping . I'll give it 6 months max and that's if decc are very generous tbh as I believe trap will soon be in a position they can't pay the decom costs

[cyan] 11/2/2015 16:00

The important question is who bought all those millions?