failure of corporate strategy, page-3

Bacci
They did broaden the strategy / they bought into an appraisal development project .
I think Starfish was a decent risk reward - maybe they should have farm down more
The Brunei stuff and great southern bite drill was a complete waste of money but that was under old regime.
Taunton seemed reasonable but they obviously had big drilling issues , however this was also appraisal

In the oil game you need good luck and good management , TAP have been unlucky , if the gas discoveries were made 2 years earlier that would have been flogged off for 10s of milions

Taps mistake is they should have acted earlier on the CR. The funding uncertainty is creating the SP pressure and if they do need to do a CR they will be forced to do it at very low price . Based on today's close 35 is now the level and funding deadlines are approaching.