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Unless the Data is out of date which i imagine it may be, its still shows NP going with Thistle. However it still shows Thistle Exporting to Dunlin and it appears from several RNS thats been resolved. What i dont know is if Enq put in a facility to keep producing if Thistle shutdown for any reason.
Matrix you may well be right. As anyone can check i havent posted on Enq for a while. Was a former employee and share holder. So obviously would like them to survive.
At worst you sell now and dont have to ruin your holiday. ENQ share price isnt going anywhere not as though you are going to come back and it will be 60p.
Unlikely the can make an announcement until they establish what they are dealing with and have some repair solutions and have some estimated costs.
Not only that but the planning and implementation of any structural repair at this time of year may be difficult especially where diving operations are concerned. DSV Vessels are not normally off the shelf. Enquest will probably be carrying out various modelling of the structural damage to ascertain whether it is safe to put personnel back on board and recommence operations or whether immediate repairs are required. This will be a binary bet at the moment. Given the risk, i would be out as the down side far outweighs the upside here.
For anyone not in the know Northern Producer (NP) production goes via Thistle so obviously going to be an issue if Thistle is Unmanned, likely NP also shutdown and not producing. Given that NP was a higher producer that's going to be hurting Enquest. For clarity not holding, not deramping.
One of the reasons Enquest bought or took over SVT was to reduce the operating costs for the throughput of oil. BP Operating costs were very high and with the low oil price and the reduced oil going through SVT. The cost to other operators per barrel was not sustainable. Note I no longer have any holding in Enquest.
Dont put your hard earned in to this pile of crap. Look at what finanace they have raised and 2 new directors with nose in an empty trough. It wont take long to burn through cash in expenses alone. I took at 97% loss (over £2k) on this. Worst investment decision ever. Trap promised so much.
I sold out of this one a few weeks back, was fed up of looking at a £2100 investment turned to £36. I suppose if i held and sold at the top today might have got about £100 back. Still a £2k loss. This one is strictly for gamblers. I for one cannot see Trap surviving and a 20% cos if that is the figure is pretty low. In reality the economics of the field and the partners involved may mean there is never a chance of it being developed anyway. There isnt that much infrastructure in the moray firth to tie back too and i think this is the final roll. Could trap secure funding? Given the choices made by the BOD to date, all who have now left i dont think so. This is my opinion and is not a deramp or a recommendation to buy or sell. I imagine many holders like me have been caught in this one for years and have no option but to wait and see. For new investors....buyer beware. http://www.acorn-ps.com/web/page/oilgas/nsfields/nnsmap.htm
On this occasion I don't agree. Trap would need considerable funding and apart from Athena they have no source of income. I see a potential buy out but nowhere near the price most long term holders are trapped at.
Certainly not worth a punt. There is little or no value here. All Trap have managed to do is destroy share holder value with incompetent decisions. The spread alone prevents any potential profit. I would suggest you dont get trapped. My £2100 investment was turned into a whole £36.
Well out of an original investment of near £2100, my shares are worth the grand sum of £36 this morning. What a disgrace of a company. I should have sold last year, but in truth always hoped there would be some kind of turnaround. It hasnt happened so will just have to write this one off. I see no future for Crap Oil.
Could of been Dyas who sold to crap oil. Cant remember. Sitting on an 80% loss here and for what value i have left i would rather lose the lot than sell now. Crap oil is a fair name.