Trap Oil Grp Share Discussion Threads

[bam bam rubble] 25/6/2015 12:17

"In summary 60% beneficial interest in our 5 remaining licences will be passed
to the Athena Consortium and all of our interest in Athena. No further amounts
will be due when 125% of the outstanding debt obligation has been met."

The management's final trick is to pretend the company is keeping a significant
stake in their licences of 40% when the reality is they are only retaining 25%.

The Athena debt liability restated as 125% instead of 100% is the tricksy part.
125% of debt payable by handing over 60% of the licenses is the same as saying
100% of debt payable by handing over 75% of the licenses

[bones698] 25/6/2015 11:17

Agree plus they could simply drag it out until trap is bust anyway so a lost cause like this company .game is over it's just a case of how long they drag it out now . Investors will see nominal money back if any at all .

[ngms27] 25/6/2015 10:33

All is Totally lost, they aren't going to pay by the looks of it. No doubt some clause in the contract that the BOD missed!

[phowdo] 25/6/2015 10:13

captain, I suspect the remaining staff/directors will be eyeing up the Total compensation for their payoffs/redundancies. Shareholders wont see much of it.

[rcturner2] 25/6/2015 09:54

bustedflush, I tend towards sectors that are showing positive returns, since it is highly likely I am no better than an average investor. I seek good companies in good sectors.

[captain james t kirk] 25/6/2015 09:44

All is not Totally lost here :)

[bones698] 25/6/2015 09:38

Lol Ross not for long tbh better getting out and forgetting about it tbh enjoy the beers more

[rcturner2] 25/6/2015 09:11

The average AIM O&G company share price fell 50% in 2014 and I doubt it is much better this year.

A sector to stay away from.

[bones698] 25/6/2015 09:08

I don't say 0.1p for no reason either , it was 0.275p before the spike up pre drilling and in what people thought wasa better position than it is now so to be higher now given the dire situation shows it has a lot further to fall imo to be priced on a fair value . Will drop off as the days go by .

[bones698] 25/6/2015 09:04

Cash add gpx to that list , I bought in hoping for syria but after the games there sold and and went negative on that as the story changed , since it's dropped 70% so lucky escape there but it's in trouble too

[cashandcard] 25/6/2015 08:52

How much could they get for a survival-type firesale of the licenses? Perhaps a million at best, as no one is going to pay over the odds to a dying company.

If the managers have an announce of quality left, they will look to monetise the remaining assets and close this down.

This is one of the worst AIM stories in recent years, its not an Africa based company with projects mired in dodgy dealings or even a company at the mercy of some tinpot dictator - it all happened right here in good old Blighty.

I tellya, case studies could be done on this one - everything that is wrong with AIM.


Cash

[bustedflush2] 25/6/2015 08:48

BUST soon.

I did warn you.

[bones698] 25/6/2015 08:41

Ross it was a gamble so unlucky but at least it didn't cost you much . At least it will now be over soon and I can delete the thread off my list like ami,mdx and a few others I've called for a long time when the end comes .

[ngms27] 25/6/2015 08:20

£0.4m cash left, Athena is now off the books so only leaking expenses.

When all's said and done they are now dead as a dodo, the only value is the licenses they hold and I'd expect the new DECC to take them off them as they don't have resource to do anything with them.

Bones and I were on the money.

TRAP are effectively dead with little hope of salvation. Watch the scramble to sell today with no takers

[bones698] 25/6/2015 08:07

Should end the day down 75% tbh no value or cash left and very high chance of liquidation .

[phowdo] 25/6/2015 07:46

bones698 you need to learn some humility.
By your own admission you have never made money investing so to call other people ignorant and clueless just reveals your own shortcomings in a stark light.