Member Info for Orchy

perhaps patiently waiting for 10p

but slow down lol, i want some more cheap shares

no worries mate, perhaps the BOD have gone conservative with £2m so as not to disappointing? under promise - over deliver ? if we are achieving more than £2m / month then that's fantastic, i suppose half yearly soon will confirm ? GLM

Athena The single most important development during the period under review was the continuing production from Athena. Lochard has a 10% interest in this North Sea field and production from it is currently the Group's only source of income. It was therefore vital to keep it in production throughout the period. During the period under review the Athena consortium conducted limited remedial work on one of the problem wells, which improved rates, but the Joint Venture consortium concluded that a major work-over was not warranted. Recent production has been at 10,800 - 11,000 bopd gross (1,080 - 1,100 net to Lochard) levels and to date there has been effective reservoir maintenance and no water breakthrough, which is a positive indicator for future production performance. The oil is sold to BP in an arrangement organised by Athena's operator. During the period under review some 2,070,061 bbls were produced and delivered to the terminal (207,006 bbls net to Lochard). This produced income of some US$18.996 million. The costs of production attributable to Lochard from Athena during the period were US$5.092 million or US$850k per month.

Athena Payback: c.12 months from parting of cash with income of £2m/month at current production rates = high rate of return.

i thought Athena running at current levels was generating £2m per month ? atb

anyone know when Caithness plan to drill the exploration well ? commitment is by end of this year,

delayed from earlier at 13.6p, still some sellers it seems , not a problem may have some more funds soon so happy to put them in here sub 14p :) GLA

thanks for posting, interesting watch and some interesting comments, gotta love the business model here, GLA

http://www.iii.co.uk/articles/77170/north-sea-oil-and-gas-hits-30-year-high

shhhhh.... if you keep quiet we might be able to add some more around this level ;)

ideal , both magnolia and scotney started :) should get updates for both similar times considering magnolia is a shorter drill, end of march will be interesting , GLA

little reminder ;) scotney - operations started 18/02 - Scotney exploration well, Block 20/5b (12.5% WI fully carried; Suncor 28.75% WI operator; Noreco 43.75% WI; First Oil 15% WI). The Scotney prospect, a faulted closure mapped just below the Base Cretaceous Unconformity level with the primary target being the Late Jurassic, Buzzard Sandstone Member reservoir. Well 20/5b-2 was drilled in 1983 on the eastern flank of the BCU closure based on old seismic but did not find hydrocarbons. However, seismic reinterpretation has identified reservoir quality sands to the west. Should spud in Jan using the WilHunter semi-submersible rig. Gross well cost 17M. Gross P50 prospective resources 60mmbbls. Risking 33%. Magnolia - anticipated to commence shortly - Magnolia exploration well, Block 13/23a (10% WI fully carried, KNOC operator). The Ocean Nomad semi-submersible rig has been contracted to drill an exploration well on the Magnolia prospect, currently planned to spud in early 2013 (rig status report 18 Dec - Click here). Gross well cost 16.5M. Gross P50 prospective resources 20mmbbls. Risking 33% what i really like is the COS assigned to these wells, makes for a very exciting period soon, downside limited because we are free carried and and SP underpinned by 2m revenue a month Feb presentation - http://www.trapoil.com/media/13055/Corporate_presentation_February_2013.pdf GLA

my first buy was 14.7 literally a day before the drop to 13.25 :( managed to pick more up at 13.55 twice so happy with a 14p average, anything under 15p is extremely good value imo, high hopes for this one and hopefully we will all do very well :) GL fellas,

nice

and onwards hopefully :)

Patience mate, all in good time, if not will just have to let the drill bit do the talking lol

i know lol! trades are a sea of blue with the exception of 1/2 sells ...... perhaps they are working some sells through still or allowing 'people' to load up ?? when they are ready they will move this up imo,

has perked up abit, hopefully will move past 14p soon, GLA

http://www.proactiveinvestors.co.uk/companies/news/53795/trap-oil-well-started-at-scotney-prospect-north-sea-53795.html