tap going cheap , page-2

I think the only decent thing left for TAP to do (other than returning the $100 mil to shareholders or waste it on further dusters) is making as takeover offer for PPP.

PPP is going cheap at 0.155c after recent Tieke duster. A takeover offer with a 50% premium would cost exactly $100mil. It would give TAP access to Tui oil, some highly prospective acreage in NZ, and assets and further permits in Carnarvon. They could revive their (so far failing) NZ efforts and counter their ever declining reserves.


I won't hold my breath though.