tap's value, page-19

I am with you UZNBUZ

IMO.....WA-351 it possibly quite sigificant and i say this for a number so reasons.

BHP have stated that "recent" discoveries in the vicinity of its 50% owned (with Exxon) 8-10 tcf Scarborough field now make the resource economical

http://www.smh.com.au/business/bhp-exxon-move-on-scarborough-gas-20121011-27fjj.html

From its earlier releases TAP have stated that its pre-drill estimates for 351 where in the vicinity of 2-12 tcf.

http://www.asx.com.au/asxpdf/20080903/pdf/31c3h0bkjgd3mw.pdf
(page 11)

BHP have stated that Tallaganda was their biggest discovery in 2012. that speaks for itself.

IMO BHP would not be slating the concept of developing Scarborough if it thought there was only an extra 1 or 2 tcf in 351.

Kloppers favourite saying....."long life low cost assets"

I think Tallaganda is "potentially" significant. there is still a lot of drilling to be done but TAP would be shopping this to major players who are looking to acquire "long life low cost" assets

I don't know what the spending commitments are, but is it possible BHP are delaying things in its role as operator to get TAP's 25% cheaper, in which case, its good thing management can play their game as we are sitting on a nice wad of cash having not paid out piddly little dividends over the years