It means they have yet to receive the money i.e. Accounts Receivable which should be around $12-14 million(US$). Pretty good result by looking at existing Market Capital i.e. $60 AUD (or $42 m USD). Debt facility will be negotiated and soon full approval will be received. Importantly, TAP's committed exploration exps are minimal (A big Plus+ for TAP sp in this environment as mkt don't like cash burners atm) and our next qtr's 42% production is hedged around $62.75 hence we should see a strong quarterly results and also Debt (Net Position) should be cleared in next 6-7 months.
By the time, Oil may recover or even roar dramatically who knows as I don't see the world producing enough oil at these prices for long!
TAP Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
