Member Info for Orchy

trap has a fair few ii's on board so would imagine it would need to be a very decent offer to get them to agree ?

expert **

depends on the offer, if its a cash offer then subject to approval ect, cash will go into your trading account, if its a share offer i.e. 0.8 share in the new company for each trap share then you get the new shares. all depends on the offer, im no expect, not sure if you can do part cash part share etc so probs best to google it unless anyone better placed to answer atb

gutted........ ;)

drainpipe, firehose's alter ego ?

this was my point the other day, currently our MC is £22m in 4 months assuming no problems with athena we will have that in cash, i have added a tiny amount at 9.91 today, so much to come here and 2014 drilling program should be exciting, still news to come this year and could be a surprise or two imo, also $7m to come if forse isnt drilled , GLA

http://www.trapoil.com/media/13245/annual2012.pdf

current MC takes into account cash and 5 months athena production ?? lol crazy!

http://www.iii.co.uk/articles/86401/trap-oil-plunges-after-abandoning-scotney-well

http://boards.fool.co.uk/trap-scotney-duster-12787043.aspx?sort=whole#12787043

but thats oil exploration, a good job we were free carried,

agree mate, thats why i like traps business model with the free carried interests , limiting the financial exposure,

IC VIEW A report published last year by the University of Aberdeen points to an increase in North Sea oil and gas production over the next three years, before a longer-term decline over the following 30 years. Part of the reason is that it will become more problematic to exploit the remaining smaller fields because much of the existing North Sea infrastructure will gradually become uneconomic. But over half of the UK North Sea's hydrocarbons have yet to be extracted, some 24bn barrels worth around £1.5 trillion. Given that the industry has effectively been given a renewed lease of life from technological innovation, tax clarity and robust long-term oil price projections, experience tells us that it would be unwise to write it off prematurely for a second time.

i follow you now mate,

'cash half our MC' what do you mean by that mate? providing athena continues to perform well should end the year with 25-30m cash,

In Theory why should it drop on a duster? we are free carried, nothing is priced in for scotney in the current sp imo... we all know it shouldnt but it will because its aim and there are so many short term investors now, they will move on to the next hot stock etc... for that reason i am keeping some funds spare to take advantage of any drop on bad news, GLA

proof read proof read proof read lol

informational haha sorry Trap sees the Romeo and Scotney wells as being potentially transformational for the company.

scotney is described as informational so fingers crossed, GLM

appreciate that people see drilling as the main motivator but is it so bad if we dont drill, 8 months left of 2013, 8 x £2m = 16m revenue hopefully, so will end with between £25-30m in bank, not bad going imo, compare to our MC of £32m now, we also have a commitment from caithness to drill forse by end of this year 'There is a commitment for Caithness to drill an exploration well on the Forse prospect by 21 Dec 2013. Estimated prospective resources ~100 mmbbls. Trapoil have the right to acquire a 20% WI for a nominal consideration (�1) within three months of the completion of the well. If Caithness does not spud the well by 21 Dec 2013, Trapoil will be paid US$7M by Caithness or alternatively will be issued with a 12 month loan note of US$7M secured against all the assets of Caithness.' so we get $7m if they dont also the longer athena continues to produce dry oil the more likely we are to get a reserves upgrade, remember itheca estimate reserves at 21/22m i understand trap are trying to line up more drills but ultimately it comes down to rig availability (which is tight in the north sea) and also our partners, hope that helps a little, there are more knowledgeable posters who will perhaps give better insight, GLM