TAP have said their net oil sales are $US50m at $US50 after all costs in Thailand etc, but before debt repayments and head office costs. Thats $US4m a month.
Selling the gas assets would probably be smart and I hadn't thought about that. There is $50m right there even with a $10m haircut for factoring. Macquarie would take that off you in a second.
TAP can also pay a massive franked divvy and do a $50m placement for same. Same as MACA did. At least give us the franking credit for Gods sake. Euroz would be all over that.
Might be able to find a cornerstone investor to take most of the placement also. Bring in the white night and Chatchai will pay up and over - thats how he works.
TAP Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
