Member Info for Proselenes

LRL closed at 7p (-8%) on ASX. I think whats going to happen is that they will find some jam tomorrow blue sky project (like offshore China drilling for oil) and then get into that and raise a massive amount of cash - which will mean lots of dilution for those holding. Maybe, maybe not - we shall see in due course.

If there is a single party offer....... so no auction then it will be sold for between 280p and 450p imo. If there is a bidding war and auction - really then anything is possible even up to over 600p a share levels. Just got to hope there is a bidding war. Arip last sold shares at 400p levels - so any bid thats not Arip will need to be 400p or over to get a sale, imo.

According to Russian press there are 12 interested parties, 3 of which are the big Russian Oil companies. This should mean it goes to auction. If a single party only were to bid the price could be anywhere from 280p to 450p in my view - and even at 450p its cheap. Arip sold shares last time at 400p so 400p should be a level at which he would sell, if he is not the buyer. If it goes to Auction then higher prices are possible as companies bid against each others bids. If it goes to auction then anything up to 800p is possible. So fingers crossed this goes to auction. Should be all clear by end of December. NM

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The easiest way to spot a ramp is to see bulletin boards full of positive posts about how cheap the stock is and how its going to the moon - and yet buying volume is virtually zero !! Now, you would think all these positive posters would be selling other shares, selling their cars and belongings and loading up and buying as many MOIL shares as they can......... but they are not. Why not ? Because they are most likely in from higher prices, locked into loss making positions and trying to raaaamp others into buying. If it really is as cheap as they say - why are they not buying now ? Simple to see.

IMO.

Ok, not going to be posting for some time now on any bulletin boards - good luck to all TRAP holders and I hold - not sold. See you in a few months. .

Normality should be soon, the share price rose from 16p to 17p which was "massive ramping" and now its gone to 15p its suffered "catastrophic disaster" - in the minds of the Kermits - they probably even realise themselves they are on a hopeless mission pushing 5p price targets - its normally the last step before they disappear. So, to return the thread to normal mode, being about TRAP. Link to TRAP write up http://boards.fool.co.uk/nfsc-2013-lontrap-trapoil-12715326.aspx Link to Sranmals summary (pdf form) http://www.mediafire.com/?fl1th4fdlant1us As we stand now to modify the above two, Romeo is inconclusive but a "tight hole" so little information is being released, but cost TRAP nothing. If Suncor decide to drill again (meaning Romeo offers considerable upside - possible Triassic) then we assume Romeo is very valuable, and if they decide not to drill, then its not. Any future Romeo drill will cost TRAP nothing again, as they are free carried to first oil on the license. Scotney due to spud say around 24th Jan - something like that - possibly worth 18p a share to TRAP in the event of an oil discovery based on P50 figures. Should be drilled in 31 days (standard well not an HPHT well like Romeo was) and so news from Scotney should be end of February time.

You'll note there are many emotional rampers who post - I often wind people up but it serves the purpose of exposing them for what they really are :) Nevid, zorns is correct, I believe the 2m pounds revenue per month is after taking off all Athena opex.

Good luck with your holding. It was ridiculously cheap today (I got more) and if you purchased today you have a good price. Scotney well next, then Magnolia and then Crazy Horse - all in the coming months. Exciting times - and a company with 2m a month "tax free" in production revenues !! and no bank debt !

From Paul Curtis on Twitter, looks like Scotney news end of February !! P50 is 18p a share net to TRAP if commercial oil discovery. PAUL CURTIS @paulcurtis123 @Proselenes Scotney will take 31 days to drill not 60 days. Should spud in a couple of weeks.

Well thats me done with my buying under 14.5p, Very nice, thank you very much. Sit back now and wait for Scotney drill results end of March (or perhaps East Trent gas acquisition before then?). Enjoy chaps.

Athena still producing dry oil, no water yet - looking like TRAP's estimate of 14m might be too conservative and Ithaca's 26m might be more possible. http://www.investegate.co.uk/ithaca-energy-inc-(iae)/rns/q4-2012-production--2013-outlook/201301100700182194V/ <b>........Production in Q4-2012 benefited from strong performance by the Athena field, which continues to produce "dry" oil at a stable gross daily rate of between 10,000 and 11,000 barrels of oil per day ("bopd"), 2,250 to 2,475 bopd net to Ithaca. ..............</b>

What loans are you on about ? TRAP paid cash for Athena - and TRAP have no bank debt. They also have 12m of tax allowances to use up on production (the reason they purchased Athena was to have significant production with which to offset tax allowances against and use them up - eg they are paying zero tax if you like on revenue). LHD have bank borrowings - they borrowed to pay for Athena and now have high service costs every month to pay for the bank borrowings. If you take what TRAP paid in total for Athena (deposit and final payments) and take cash in the bank - that alone is equal to the current market cap of the company. Which means everything else is in for free. How many small oil companies on AIM have zero bank borrowings, 2m a month income tax free and a market cap as low as this ?

Well, I have tears in my eyes, tears of laughter after reading some of the comments - I must say its most amusing. Seems to be that TRAP has been ramped up from 16p to yes, the massive high of 17p and now has crashed to the ultra low of, yes 15p. Such massive share price swings, must have been the work of the devil to raise it so much and drop it so much - I mean a whole penny up and penny down from where it was.......... LOL :) Superbly stupid posts by some. The story has changed little, Athena/Lybster revenue of over £2m per month coming in and with lots of tax allowance to use up to make that worth the full amount and plenty of cash in the bank (which is of course rising every month as well). Romeo well cost TRAP zero. Struck oil but reservoir quality is poor (downhole conditions poor). Future of this will be decided by Suncor and Total as they are the major percentage owners - if they decide to drill Romeo again cost to TRAP is again zero. Thats whats to love about the TRAP model, minimal costs, free drills. Striking oil in the Triassic was a key event, looks like their is good sealing all around for oil to be down that low. Potential is significant, will only know more once Suncor/Total make a decision whether to drill again - if they do then you know Romeo offers a lot. If they do not then it does not. As its a "tight hole" and therefore Total/Suncor do not want news out that could help competitors probably the only way to judge Romeo will be the decision to drill again or not - whenever that is made. Next well is Scotney - which is not an HPHT well, so should complete in around 61 days dry hole basis. P50 upside to TRAP on commercial oil discovery is about 18p a share (or over double the present price). Again as per Romeo, Scotney is a free carry to first oil well, so it costs TRAP zero. Spud of Scotney in a couple of weeks should mean Scotney result coming late March. Sit back and wait for that now. Present share price does not account for cash in the bank and assets - so it remains a superb buy - backed up by cash and Athena/Lybster production and 3 drills to come this year, one high impact, one decent impact and one very high impact - and in that order for Scotney, Magnolia and Crazy Horse. Next major news should be either Trent gas, or Scotney drill result around end of March.

http://www.investegate.co.uk/trap-oil-group-plc-(trap)/rns/operational-update/201301091415261906V/ Update out - 200 feet gross oil pay but needs another well to prove up. Good result finding oil just a shame needs another well to prove up volumes. Now sit back and wait for Scotney well, due to spud when Romeo is finished P&A. .

http://www.scotsman.com/business/management/trap-oil-plucks-orchid-discovery-as-drilling-trio-unveil-overseas-plans-1-2722931 Trap Oil plucks Orchid discovery as drilling trio unveil overseas plans Scottish oil firms have revealed a string of expansion moves across the globe. Picture: Getty Image By PETER RANSCOMBE Published on Tuesday 8 January 2013 00:00 DRILLING firm Trap Oil is buying a majority stake in the Orchid oil discovery in the North Sea, while a trio of Scottish explorers unveiled plans to drill for oil across Africa, Europe and the Mi.............................