Hi all, I've been in TAP for years now always believing/hoping that it will come good .... hoping Manora will provide this but have to admit I have my doubts. Issues I see are that this company has an enormously bad history of never paying any dividends and always having excessive costs (top level salaries being a prime example of these as they should be in some way performance linked) .... Companies that don't pay divvys and have high costs are being punished harshly by the market since the GFC and until management do something about these 2 issues then I fear TAP may remain a dog amongst its peers ... I hope not as I would love to re-coup my losses or heaven forbid actually make a few bucks. Additionally TAP has been enjoying its 3rd party gas sales for a long time now, but in reality if you look to the P&L has substantially 'blown' all these revenues on excessive admin costs and never passed out a single cent to long suffering shareholders ... now that gas revenue is substantially drying up or coming to an end I fear these excessive admin costs etc will just be fed by Manora revenues and again shareholders will miss out .... selling the WA gas assets kind of confirms this in one way to me as should TAP sell the gas assets, as it wants too, then what's the companies long term plans??? .... ie there currently aren't any past Manora ... you would think the long lead time WA gas assets would actually be a good fit in that the Manora revenues could be used to fund development of these and therefore give the company a long term 'life' past Manora .... just my thoughts ... planning on staying in past Manora start-up but will cut my losses if they waste the first 6 months of these revenues also.
TAP Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
