re: Ann: Open Briefing - Tap Oil - Operations... Nado, if you...

re: Ann: Open Briefing - Tap Oil - Operations...
Nado, if you got what you wanted they wouldn't be trading in the 96-97c range.

Acquisitions cost money and they have JV's with some of the top oil Co's in the world.

Non-executive Director, Peter Lane, played a major role in the discovery of oil in Bass Strait many years ago. A revisit to this area by TAP indicates to me that Peter has been doing his homework and still sees opportunities that were there in the early days but were never followed up after he moved on to greener pastures.
Although he is a non-executive Director officially, he started TAP Oil with Tom Stickland, hence the name TAP = Tom and Peter. These are both extremely experienced oil men and their decisions should not be taken lightly.

World oil production is dropping and new discoveries are not replacing current known reserves. Some have shut down operations until prices rise. Many smaller explorers have run out of cash. Getting production started again takes time.
Yes, the world is economicaly very sick, but so is the outlook for the supply of oil. Govts can and are printing cash but they can't produce oil out of thin air.

Rental costs for tankers are soaring again as Govts try to increase their reserves to the max.
$100+ a barrel by Xmas is conservative.