Alexios..Copied30 Jan 2013 15:14
news coming very soon on Trent East (estimated 40-60 Bcf gross) I reckon and spud of Scotney in first week of February hopefully. Another positive about TRAP are the free carries - Scotney and Magnolia. Also Crazy Horse has a 5% carried interest and a 17% working interest. Crazy Horse is the biggie with a P50 of around 151.28 mb in the Scapa Sands formation only. I like the business model with this one - acquire licences, prove up with seismics and CPR's, attract a big operator to carry costs in return for a free carried interest. If you look at the COS for these drills (22%-26%) it's only a matter of time before one proves commercial and the share must re-rate. Excellent monthly cash flow now plus £8-9 m cash on hand. Also this will be on the radar of the big oilers. Opinion only, DYOR.