Member Info for zatcha1980

Looks like news on arrival of the BW Athena as TRAP seems to be moving north. Probably just me. Hoping for news tomorrow.

I'm trying to find the presentation which explains everything and also have pictorial images showing the structure but for some reason cant find it on ithaca website. will need to login to ADVFN as on the BB there will be uploaded there or a link to take you to where you need to go.

If you look at LHD's Portfolio they have alot of assets which are in a range of 90 - 100% interest. If you compare it with TRAP Assets, LHD is the one that stands out. Cash wise, TRAP stands out. So trying to take position in LHD and trying to merge both companies together seems logical to me. Look at PMG and DEO who are working together. PMG as exploration company and DEO as bringing oil into production.

Things going to really hot up here very soon.

I know quite a few peeps has been noticing that even with alot of sells going through for past couple of weeks, the SP has held in the range. Could it be that another II is taking positions?

TRAP OIL BODS are more capable to take the company forward. So if the offer was from TRAP i would be happy if they took over. Looking at TRAP % in North sea assets, they are all free carry and only need to inject 8 million for this year on 1 or 2 wells.

Interesting but i would have thought TRAP would have offered the full amount of cash they currently have plus raise extra cash via placing for additional 15% for athena, bringing total of 25%, giving you above 4000 barrels per day??? TRAP can still go ahead with this once Gardner is out of the way. So Offer Price for LHD can be above 15p??

Hiya mate. Yeah been doing some more digging and hallmark brought this back to my attention. Looks like Henderson may have enough vote to oust Gardner. Im all up for that. So bought 50k yesterday. Couldnt buy at 11.25 as there was something wrong with my SIPP account, so managed 11.5p. News on arrival of BW Athena should be tomorrow or Tuesday the latest. Hoping for some news on thunderball farm out.

No worries mate. working from home so will log into my personal PC later and will read your email. Ill either speak to you later in the evening or tomorrow.

yup, however they have been keeping us updated in regards to Athena field etc.

Keep an eye on IAE as they would be the first to release RNS. I believe it will be Thursday.

is possible by end of this month depending on the outcome from the meeting.

Wow, how the heck did i missed that. Mind you got an appointment tomorrow to see my opticians at 4pm lol

How do you know that hte data room was closed a whole ago?

I agree mate, just being safe than sorry. Should make decent return on TRAP as they have 15% of Athena field.

Hi mate, Decided to buy in TRAP OIL. Until the board doesnt sort themselves i will wait on the sidelines.

Someone dumping a lot of shares..

Share dilution already taken place. The sale of the fluids business profit will go to Senergy cost. However we will keep the revenue earned from the Athena field. Also there is negotiation for farm out on Thunderball offering 50% interest and for the drilling to be paid in full. We have good license with most above 50% interest in each block. So personally this share is dirt cheap.

No :) The placing RNS saw the SP drop to around 8.5p. Its now upwards from here. News soon on Thunderball, and ship on its way to the North Sea.

Seafish - Oil and Gas Bulletin Issue 04/2012 - Athena Field Development Update 13 February 2012 - confirms the infrastructure installation programme is now complete, with just trenching work and other sub sea tidying up operations going on, suggesting they will be ready to hook up BW Athena on arrival early next month. Mooring, STP buoy, structure, MWA and flexible flowline installation works are finished. Flexible flowline and umbilical trenching infill/concrete mattress protection operations are underway and programmed to bring the overall project to completion later this month. BW Athena FPSO will provide the host production operating services, including provision of oil and gas processing, produced water treatment and disposal, electrical power, subsea control, chemical and water injection.