Ghana withdrawal is a non issue as the market was ascribing zero value The cost blowouts are a concern but the biggest issue is TAP is reliant on Manora in a big way . It's essentially a one project company and what is even more important it's taking on a lot of debt for this project .
Due to this TAPs value is very leveraged to Manora success . The failure to deliver required rates can be very damaging
I am not suggesting Manora won't deliver , it may even over deliver but there is simply heightened downside risk given the level of debt they will end up with
Of course if they manage to sell off gas assets at a reasonable price all of the above risk diminishes . I could be overplaying the risk but I am simply fearful of high debt positions relying on a not totally derisked project
- Forums
- ASX - By Stock
- TAP
- sale of zola/bianchi prospects.
sale of zola/bianchi prospects., page-96
-
- There are more pages in this discussion • 106 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TAP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online