Sturminator
Tap have approx 15m usd to pay between money owed to JV for cost overruns and reserve payment for the oil as part of initial purchase
Also - oil sales is very different from oil net revenue. If OPEX is 25 , then a 65 dollar oil price only nets you 45 . That 45 is needed to pay interest and principal , corporate costs and somehow have money left over to pay 15 usd in due payments
I am not trying to be smart but TAP is in a bit of a pickle . They have gone from being net cash over last few years to significant net debt with limited net cash flow relative to debts . Even if they cover debts were is the money going to come from to grow the business . Tap needs quick oil price recovery to about 75-80
TAP Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
