If you want to see what bad management looks like, have a look at RIA which has had to sell off parts of the farm to stay afloat before going cap in hand to it's shareholders for more money. Massive dilution at low prices - ouch. In my books RIA needs Starfish-1 to succeed, while Starfish is just a free option for TAP.
TAP on the other hand has a strong balance sheet, giving it flexibility to drill and develop projects. For such small companies, capital management is critical - you don't want to have to even think about selling off the farm just to have enough cash to stay open for business.
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