Member Info for Furryboots

Hearing the same rumours about RLD....Oh sorry you are long there.

some feel share buy backs mean management have no idea where or how to best deploy spare capital.

Auson - have you seen his share account or do you just believe everything people write on here. I have £9k in here, and i am all in, in the perspective is its all i am putting in here.

All in implies you have staked everything on one share. I think you can come clean my shoes for a few shekels..earn some pocket money back.

is that all in with your £50...got to say i read the messages and you speak some rubbish.

As a former onshore employee of Enquest, i genuinely felt that they were a good company. The game changer for Enquest was the collapse in the oil price in 2014 and the Enquest producer project that over ran and has never really been successful. I think AB would probably agree. As a late life asset operator, Enquest were able to do more with less and thus run these fields more efficiently than the larger operators. I can attest that the onshore and offshore teams whilst i was there were all pulling in the same direction. However i left Enquest a few years ago and haven't followed them as much in recent times. i think some people here just think that the oil flows to the surface, but Thistle for example is like a large washing machine where water is injected in large quantities to get the oil out, Heather the WI has to be targeted and the oil is in tight pockets. The infrastructure is old, the plant is old and the time and effort to keep the operation going is significant. Like all older North Sea assets obsolescence is an issue, so the £100 part you cant buy ends up being a £20k replacement. Enquest have other assets now i.e. Magnus which is still a relatively good producer and guaranteed if it hasnt happened already Enquest will increase the efficiency and get more oil out of the ground. Good luck to all genuine LTH.

When I posted this morning it was with the best intentions as a former employee of Enquest but NeilHannon you are just nasty. 100s of people's livelihoods depend on Enquest and you hoping they fail tells anyone the character you have.

Cant knock Enquest for that, seems an issue with one of the old crude oil storage tanks. would imagine a temp repair to see them through to better weather.

Unless the Data is out of date which i imagine it may be, its still shows NP going with Thistle.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.