Sbl Correct you are - I intended to subtract 20 million from my...

Sbl
Correct you are - I intended to subtract 20 million from my final figure for the litigation risk which in the end may not be significant. In the end even if you substract 40 million you still have a Valuation of times 2 the current share price


What I am liking about Tap at present is they have two big targets that they have to drill by next sep next year. Wa351 and Ghanna
WA351 which has a target size of 2-3 tcf will provide Tap with a 400-600 bcf of additional gas at a COS of above 50 percent. That's 80 cents to two dollars additional value to TAP.

The manora field will provide new strong revenue just as the reserves from oil dry up. tap will continue to earn 60-70 million until then and this will step up. The divestment of non core assets will allow for further cash build and admin savings. tap has a great portfolio of production, appraisal and exploration. It essential has one high chance very large target which will all know is quality , it has one quality discovery, one quality medium size field and one high reward exploration target in the hottest oil Provence. I will continue to accumulate at these levels.