Cmonaussie
That's brilliant!
While it is not my intention to become expert on hedging I will sit down later today and think about what you have said. (I'm sure others will be interested too).
When I was looking at hedging in the US I was looking at hedging in the Shale Oil industry which is a totally different business model to Tap so what they do there may be irrelevant to TAP
Cheers
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