.

Today is day 83 for Romeo from the re-spud date of 28th Sept.

Well Registration No. = 30/11c- 6C
Original Intent = Exploration
Country Code = United Kingdom
Onshore/Offshore = Offshore
Quadrant No. = 30
Block No. = 11
Block Suffix = c
Platform = NULL Value
Drilling Sequence No. = 6
Wellbore Type = Re-Spud
Primary Target = R
Slot No. = NULL Value
Spud Date = 28-SEP-2012
Date TD Reached =
Completion Date =
Completion Status = NULL Value
Total MD Driller (feet) = NULL Value
Total MD Logger (feet) = NULL Value
TVDSS Driller = NULL Value
Datum Elevation (feet) = 85
Datum Type = RT
Water Depth (feet) = 284
Ground Elevation (feet) = NULL Value
Deviated Well = Vertical
Top hole Latitude = 056 35 05.854N
Top Hole Longtitude = 002 00 14.692E

They said 78 days to complete well operations (drilling and logging and P&A) on a dry hole basis - so as we are at day 83 it suggests either they had problems and delays during drilling or they have found something of interest.

We will know good or bad soon, the thing I like is that TRAP are free carried on this well, to first oil. So no cost and if it strikes again no costs until the oil starts to flow....

Good luck to anyone holding, minimal downside and possibly considerable upside.

Excellent news ref the Athena deal completion. Company now have strong cash flow with which to grow. Lots of action ahead.

www.investegate.co.uk/trap-oil-group-plc/trap/completion-of-athena-acquisition/201212211521441911U/

.

Excellent deal, TRAP have now secured circa 1.5m a month in income, its what you will need in 2013, a strong income stream because its not going to be a good year imo. Companies who cannot fund themselves from production are going to be hit badly I do think.

On top of that Athena was purchased on TRAP low estimates of 15m barrels - other partners have much higher barrels figures and the latest news from Athena was that no there is still no water being produced, so there could be quite a bit more than 15m barrels.


Presently being drilled is Romeo, follow on is Scotney with the same rig.

Then to be drilled is Magnolia and the follow on with that same rig is Crazy Horse.

Plenty of news flow across 2013 on the drilling front for TRAP.

This was the latest comment from Ithaca on Athena, good production and still no water, which bodes well.

http://www.investegate.co.uk/ithaca-energy-inc-(iae)/rns/third-quarter-2012-financial-results/201211120700098322Q/

........Production from the Athena field stabilised at a gross rate of 10,000 to 11,000 barrels of oil per day ("bopd"), 2,250 to 2,475 bopd net to Ithaca, with the field continuing to produce "dry" oil.........

.

Update from Paul Curtis (he holds over 3% of TRAP shares) :

http://boards.fool.co.uk/quick-update-on-trap-re-athena-fridays-rns--12712174.aspx

.

High Pressure and High Temperature could be reasons for any prolonged drilling at Romeo - a detailed description of Romeo is below.



.

http://www.mediafire.com/?c52u24is7uylg01

Page 11 of this presentation suggests given that Romeo is an HPHT well then as this presentation was done a month after the final re-spud date of 28th Sept, it suggests we are now into "option" time which would suggest to most people Romeo is undergoing testing.

The next well, Scotney appears due for spud mid-January. Given P&A time suggests news first week of Jan for Romeo.

Being ramped on other sites by someone called Pro_S2009
Just read about trap oil on LSE you dont have a good name their either

.Arminius
Posts: 282
Today 11:29

I do wonder if people are not waking up to the fact this is just another Pro-S2009 aka Proselenes aka @proselenes raaaamp.

The simple fact that the user pro s2009 aka proselenes has been suspended on Hotcopper a moderated and monitored board should alert everyone.

The simple fact that so many are trying to ramp and pump and hype and promote this should act as a big red warning flag to any private investors - when they are all trying to ramp you into buying - it means someone wants to sell out and wants you to be holding the stock when things go wrong, if they do.

Well, Simon Cawkwell did just tip it as one of the stocks for 2013, and he says anything up to 200p is possible....... so is that ramping....... LOL

People need to learn, buy undervalued stocks while they are low..... simple really, this was a strong buy at 16p and now Athena deal done, one drill result coming and 3 more drills all in a row to come in 2013.

Lovely stock - buy low..... simple really. That chart shows what a stonking buy TRAP is.... thanks for posting it.

Wasn't EK in Ruspetro? Rampety rampety as usual.

Write up for TRAP for 2013

http://boards.fool.co.uk/nfsc-2013-lontrap-trapoil-12715326.aspx

,

http://t1ps.com/shop/page-article/action-article.show/id-130020762

"Trap Oil (TRAP) was floated at 43p in earlyish 2011 and it has been downhill thereafter to, now, 16p, capitalising the company at £36m. Regardless of merit, many junior oil exploration shares have been similarly treated this last two years. I am not sure of the reason but I am certain that the result has been foolish - institutional investors having taken their placing tire of hanging around. The result is a constant drip drip drip of sales and, in a sense, it is impossible to know when it comes to an end.

Trap's MD, Mark Groves-Gidney, feels aggrieved. This is partly because he has put his life's savings on the line in this company to no effect yet in market terms but mainly because Trap has delivered on the balance of probabilities and the market flatly refuses to recognise this.

He is 53 years old and cannot jump ship and start off again elsewhere. He is a poker player by nature and keeps his eye firmly on the prize and therefore does not needlessly go out on a limb. For instance, I tried to induce him into agreeing that Clegg is a moron - a palpably sensibly proposition. But he was not having any of it. He demurred - no doubt on the grounds that he might just conceivably end up dealing with a LibDem in HMG where there is no case for antagonising those with whom he must do business. Mark is a serious player.

He is an expert on North Sea oil exploration licences and Trap's business is to identify opportunities and get others to finance them. Very sensible. But not easy.

Until last Friday, it kept a large supply of cash to fund its betting. Banks do not lend to companies like Trap and investors can't be bothered. Caution dominates Trap's policy.

However, on Friday, Trap came out to play and completed a deal with Dyas in respect of its 15% interest in Ithaca Energy (IAE)'s Athena producing field. Trap paid £19m, leaving £8m over for whatever. For this Trap gets £2m a month for, Trap hope, considerably more than twelve months. Trap reckon on 14m barrels coming their way whilst Ithaca think it might be 26m (it all depends upon recoverability in practice). But, with a bit of luck, Trap might make a very good profit. As ever, luck plays its part but Trap's shareholders are betting on Mark's judgement. That does not seem silly to me.

Elsewhere there is drill result after drill result on its way. One is Romeo where Trap has 12.5% and operated by SunCor. Drilling started here 97 days ago and target depth (circa 15,000 ft.) should have been hit at 75 days. Why is the operator still down there? It might be drilling delays followed by a plug and abandonment. But there might be oil there: if so, will it flow averagely or big time? Either way it is, on the balance of the probabilities, worth millions of pounds to Trap. This could be between 10p and 40p per share to Trap.

Trap also has hopes at Scotney, Magnolia, Crazy Horse, Brule, Bordeaux, Niobe and others. It is of course impossible to value these with a high degree of accuracy. But, on a per share basis, these might tot up to 200p collectively. Trap can surely only go upwards. 16p is ridiculously low."

Careful with this one.

ADVFN poster "sranmal" has just done a write up on TRAP, link to PDF file version is here

http://www.mediafire.com/?fl1th4fdlant1us

.

Has EK put a short rec on this??

lizard, no, EK said "BUY". Potential 200p.

And I agree with the man. Want to know why the potential is there, then read this.

http://boards.fool.co.uk/nfsc-2013-lontrap-trapoil-12715326.aspx

.