It makes a lot of sense to explore in and around Manora with any discovery able to be brought into production quickly with minimal cost. Thus far the field has produced around 16M barrels and being around 1/2 explored. What would be todays replacement cost for the Manora oil production facility, $200M and a 5 year journey from first well to production the market applying no value for TAP's 30% interest.
Risco has invested $millions into Tap and would make sure if and when Chris ever retires any replacement is also aligned to all holders interests. Would TAP be in its current strong cash position and paid a 2.5cent dividend last Dec without Chris at the helm, I doubt it very much.
As per 31 December 2019 ASX released Final Report Tap’s cash balance increased by US$5.5 million over the year from US$21.2 million at 31 December 2018 to US$26.7 million using *****.com current US to Aus exchange rate of 1.504 = $Aus 40M above TAP current market cap of Aus $38M @ 9 cents share.
Brent fell over 9% this weekend, so it will be testing times for all oilers this Monday and without a cure for coronavirus in sight could be a catalyst for a world recession.
- Forums
- ASX - By Stock
- Chris Newton - counting the days to retirement!
It makes a lot of sense to explore in and around Manora with any...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TAP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online