Take note TAP still has ~AUD18m (net) from gas contracts for...

Take note TAP still has ~AUD18m (net) from gas contracts for 2016 which would provide a much needed cushion for the low oil price. Oil will not remain in the vicinity of USD3o for a long time, it will go up once production numbers from the US come down (which should be this quarter), all in my opinion of course. USD30 would effectively shut down all shale rigs.

Analysts still predict oil to average in the low to mid 50s for 2016. That's USD38M at 3500bpd for 2016, assuming they are not forced to hedge at current prices. Debt repayments for 2016 is scheduled at USD21M. Mubadala also noted operating costs will come down in 2016.

Agree Risco won't let TAP go into administration as they have invested too much, I think they have enough funds for either further placements or a takeover offer.

What I would love to see though is for TAP to sue NGP for defaulting on ~USD9m on payments, as it has forced them to come up with the placement and SPP. Happy to see CY selling at a loss to cover his legal fees. Karma is great.