Trap Oil Grp Share Discussion Threads

[bones698] 01/6/2015 05:50

Not a bad effort but I secerely question the break even price for trap on athena which if you look at traps figures is nearer $90 a barrel given the drop in output and running costs etc. This was covered some time ago . I also question just what decom costs have been paid this far . I don't believe the full 10millwas the amount paid as the accounts don't show such a drastic drop in the cash position at the time but believe the initial 5m was paid upfront because the decc requested it given traps failing financial plight .
Either way trap is all but dead and I agree any funding will leave shareholders with next to nothing . I think even 10% is being very optimistic at this stage as I see only one other outcome bust .

I totally agree with the points raised on management both past and present and was the first to highlight issues in this area years ago .
At that time I had sold out and saw this for what it really was , a company setup to pay the boss lavish wages and posh living imo .

The end is nigh

[irnbru2] 29/5/2015 20:04

No.

It's dead Jim, and we know it.

------
If anyone is tempted, to buy, because of the "apparent" large % rises, needs there head looked.

[ngms27] 29/5/2015 15:46

It's dead Jim, but not as we know it.

[luckymouse] 29/5/2015 14:28

Up 30% - but spread is 28.5% :) don't you think the MMs might be f'ing with you?

[bones698] 29/5/2015 13:46

Lol suckers they had a big sell and then moved the price up to off load it to suckers like BR who bought in . Will drop tomoz and they will be locked in on a 50% loss . Amateurs . Trap is worthless and its assets are loss making plus will owe decom costs etc it's bankrupt imo and we will see soon enough

[ohisay] 29/5/2015 12:02

Let Hercules himself do what he may, The cat will mew, and dog will have his day.
[1600-1 Shakespeare Hamlet v. i. 286]

[don777] 29/5/2015 11:56

there are still some assets in it.

trap has more than £60M tax credit.

[bad robot] 29/5/2015 10:46

Bones968

you scumbag you want people to die in the tens of thousand in Syria so you can make money in GPX. hahaha . You got bankrupted on AFR and it's bad karma.

[falia] 29/5/2015 10:18

LOOKS GOOD

[glitter2] 29/5/2015 09:57

I would be pleased to hear a report from anyone who went to the AGM.

[bones698] 23/5/2015 15:41

Lmao trav get a life I've answered that several times and you are a sad little stalker . It's obvious I have got to you by calling one of the dogs you own right and so have tore sort to stalking . Your own sad fault for not listening and picking dogs . No doubt this was one of your dogs or was it Logp, sea, Gkp, amr , and several others I've called right

[bones698] 19/5/2015 04:22

Lol voted down for being one of the few who called this dog right says a lot for the muppets that didn't listen. Sour grapes guys . It's not like you can say you weren't warned . Just numb I guess lmao

[bones698] 18/5/2015 17:04

Certainly wasn't me who recommended these at 10p , I have been advising people to sell out since 12-14p days and was the one who highlighted the fact management were milking this company dry . It was the likes of cyan and PC. Who were bullish and got it massively wrong even though they failed to stop the problems with athena . I recall the latter arguing with myself that athena was profitable until the results came out and he was proved badly wrong yet again . This is over and anyone who has held for some time will never see the majority of their investment again . Just waiting for the last few rns's to say its game over imo

[captain james t kirk] 18/5/2015 12:39

From the PMG rns:

Good progress has also been made on the Company's interest in the producing Athena field where Parkmead is the largest shareholder. The P4 well workover was successfully completed in late 2014 and, in March 2015, Parkmead and its partners on the Athena field entered into an amended FPSO contract with BW Offshore (UK) Limited ("BW Offshore"), the provider and operator of the Athena FPSO vessel. The net effect of the new agreement was a significant reduction in the field operating costs, which increases the cash flow generated from the field in the current oil price environment.

As has been suggested before, P4 fixed but P2 now broken.

[bustedflush2] 18/5/2015 12:22

This company is bust in all but name.

[ohisay] 18/5/2015 12:20

In addition, a number of companies are finding themselves in a distressed situation given capital structures that are not suited to the current oil price environment.

The Board of Parkmead believes that through its management team's track record of acquisitive growth, it is well positioned to capitalise on these opportunities in the sector because of:

-- Its extensive industry knowledge and in-depth expertise in the North Sea;
-- Its strong industry relationships, both corporately and politically; and
-- The strength of the Company's balance sheet.

Given Parkmead's track record and its stated strategy of continued acquisitive growth, the Board of Directors believe that by adding cash to its balance sheet, Parkmead will strengthen its ability to act expeditiously as and when opportunities arise over the next few months.

Well Trap is distressed and next few months just about covers it so why not put Trap down and give Bones something else to complain about.?

[ngms27] 15/5/2015 09:17

We have known that since the workover's materially failed and weren't RNSed

[irnbru2] 14/5/2015 22:49

Athena is dead.