From the last presentation, TAP has AUD 28m in cash.
Earnings from now on:
$40m/year (net) from Manora at USD 55/barrel ( I would say this is worst case as they have already hedged 40% of production at USD62.5/barrel)
~$18m/year (net) gas contracts
That's $58m/year or almost $5m a month. Worst case scenario imo.
AUD 28m cash + AUD5m a month from now on.
And that does not include the outstanding payment from NGP of $9m (if they manage to get that).
I do not see any reason why a cap raising is needed.
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