SLR personnel undertook the following work:
- Review all the technical reports provided by Trap (both Trap and operator information).
- Review the seismic data and current interpretations.
- Compile prospect and lead inventory.
- Define the volumetric and reservoir parameters and calculate probabilistic reserve estimates for each prospect.
- Compile a consistent set of geological chance of success calculations for the prospects identified.
- Discuss the findings with Trap and its advisors.
- Produce a concise CPR for inclusion in investor discussions and the AIM Admission document.
SLR successfully completed the evaluation and CPR within a tight timeframe that was governed by the listing process. The CPR was well received by Trap and its advisors and Trap successfully completed its £60 million fund raising exercise and was admitted to the AIM market.