Trap Oil Grp Share Discussion Threads

[bushman1] 04/8/2015 18:40

Two x 1,000,000 buys today.

[bam bam rubble] 04/8/2015 17:24

Jan 2014: Jerseyoilandgas.com registered

Jun 2015: Jersey Oil&Gas E&P has no licence interests or assets other than £81k
in cash and trade receivables (trade payables therefore net assets, undisclosed)

Aug 2015: TrapOil to issue £495,000 in shares at 0.22p to acquire above entity
(and £24,000 in shares to a consultant plus a cash fee for advising on the deal)


Is there a reason to pay such a premium, other than 'that's what TrapOil does'?

[au24] 04/8/2015 17:17

bones take a look at TERN. IoT

[bones698] 04/8/2015 16:51

Lol professional website and once again saying experts in oil and Gas which should set alarm bells ringing . Still not much more damage can be done from here. What a diabolical story , poor strategy then countless changes which all failed , management milking the company followed by change of management to more so called savvy people who then cancelled the hedge just before oil prices collapsed etc etc complete disaster from start to finish . Now left as some poxy company with no assets and no cash to buy anything worth bothering with . Add to that even if they but a license they can't afford to do anything with it other than farm it out which we have already seen there is no appetite for in the current climate . They should have opened a chippy it would be more befitting and probably do better . At least it shut up Curtis . Just pray he isn't doing the accounts going off his reading of them on trap . Still expensive lesson for him and PG. Maybe next time they will listen .

[bones698] 28/7/2015 17:05

Lol but they will either need to raise more money to buy into them and develop them looks almost impossible . Then you also leave yourself the same issues of decomissioning costs etc on end of life assets. There is no value left its been wiped out and looking to the North Sea where costs are about the current level of Brent leaves no profit . Desperation imo and simply should have called it a day . Still I'll have a look in 12 months for a laugh to see just what little has happened .

[ziblot] 28/7/2015 14:26

Trap/Jersey/malcy

Quite how Scott Richardson Brown has kept Trap on the go is beyond belief, there were many who had consigned the company to the Trap-door a long time ago. The combination of Trap and the Andrew Benitz company Jersey Exploration is intended to be a vehicle to acquire North Sea assets in the ‘evolving consolidation’ of the North Sea. The £820/- raised will be enough to fund the company through to next year, by which time some acquisitions should have been found and if appropriate, offer the chance of refinancing at that stage. There is no shortage of assets available in the North Sea including end-of-life assets which with production will be valuable particularly if you have £15m of tax breaks. Watch this space…

[bones698] 28/7/2015 13:01

Roflmao aye seen that before here and elsewhere tbh . Just bare in mind you are investing in an outfit that has managed to squander 60m in 4 years or so , how long do you think a few hundred thousand will last ? If it was 0.15p and you bought for a gamble then maybe but now it's overpriced again and should drift lower . Not that it helps any long term investors , they have lost 95% plus with no conceivable way of every getting anything worthwhile back .

[bushman1] 28/7/2015 12:23

Malcy's blog today : a positive outlook re : the TRAP RNS

[bones698] 28/7/2015 11:23

Au24 I am glad some people listen im not here anymore to make money but to simply help everyone else stop losing theirs . The Rampers and so called experts are the biggest cause to private investors wealth yet they won't admit it . Seen so many shares get hammered and disappear yet there were still plenty of the so called experts saying it would go back up and everything is ok etc . These people simply have no shame at all and no conscience . Disgraceful really and what's more worrying are that so many people fall for it . I now try to provide people with at least some insight and argument trying to point out the risks in their bull . Been on lgo since 4p and told them is was way overvalued ,look at it now yet how many listened . Astounding really . When they get hostile you know your hitting nerves and are right that's thr biggest clue to who is actually speaking the truth . Anyone invested in a share is biased and only wants it to rise so is ramping . I usually don't hold so I'm unbiased is it that hard to understand ???

[phowdo] 28/7/2015 09:35

Theyd have been better off shutting almost all of it down and paying a special divi if the Total compensation ever came in. Now they're just raising money to pay failed O&G execs a salary to twiddle thumbs whilst the industry is in the doldrums.

[rcturner2] 28/7/2015 09:27

15 grand buys a notifiable stake here, what a laugh

[cashandcard] 28/7/2015 09:17

Wow, they still don't get it. NS for cash-starved smallcaps is DEAD. They are better off buying up distressed shale production, atleast there would be some cash coming in rather than straight cash-incineration and then begging bowl out again.

Cash

[rcturner2] 28/7/2015 08:25

Reverse takeover. TRAP is dead.

[ohisay] 28/7/2015 07:59

This seems to be their best drill ready prospect.?!

On 22 September 2014, in the Company's interim results announcement, it was stated, inter alia, that Total E&P UK Limited ("Total") had agreed to compensate Trapoil should it not elect to drill an exploration well on Licence P.2032, Blocks 21/8c, 21/9c, 21/10c, 21/14a and 21/15b ("Valleys"). No election to drill was subsequently made, however Total is now disputing its obligation to compensate Trapoil for the amount claimed of GBP1m. If Trapoil was to proceed into potential administration, the Company would have limited resources with which to pursue its claim for compensation, but in the event that the proposed Acquisition and Placing successfully complete, Trapoil currently intends to pursue such claim.

[phowdo] 28/7/2015 07:33

I just wonder where they found enough mug punters to stump up 495k to keep this alive. Having said which it was all probably forward sold by bucket shops, so theyve already all made off with "profits" at 0.3p

[bones698] 28/7/2015 07:07

Roflmao
They really like dràgging the saga out . So now your left with some poxy oil co with no worthwhile assets and next to no cash and a share dilution at the equivalent of 0.2p approx and that's just the first one of many probably . Looks like they are trying to continue down the path of dragging it out and getting paid a bit longer . Comical imo
At least they listened to my suggestion to get rid of the band trap but fear that's the end and little value will ever be seen for long term investor of trap . Game over

[bones698] 23/7/2015 14:45

Nope they won't be around to see anything done with it . If I'm honest im surprised they haven't wrapoed it up yet , funds must be very tight now if none existent . Wouldn't surprise me to see either a loan already being used and in place or next Rns is the end tbh .

[rogerlin] 22/7/2015 09:22

"The 'Liberator' discovery could extend west into block 13/23a. The P1610 Licence Group await delivery of recently acquired speculative seismic data to undertake an evaluation of the Liberator discovery before deciding on any plans for appraisal drilling."

Could this interest not conceivably have some value?

[phowdo] 03/7/2015 08:42

A more fortunate name for the company could have helped too :)