Sheepskin - yep, the fundamental value has not changed. Just suffering from a lack of action with the drill bit atm , with nothing planned in the short-term. In the meantime, Manora progresses toward first oil in a little over 6 months - this will definitely be price moving. The ace in the pack, of course, is the gas leases. Troy continues to break every expected sale date which obviously means that there is not a lot of interest at his required price. On this basis there is probably not a lot of incentive for TAP to continue funding gas prospects ! I suspect that TAP will continue to trade in this narrow range for next 6 months .........as for punters, they may as we'll invest in an 'active' stock and switch to TAP as oil production is imminent and derisked. As Soj stated - earnings of 20-25c a share in 2015 will have us talking about dividends again. In the meantime, patience is required. A monthly update from Troy (or Shane even - haha) that all is tracking well might reassure holders.
TAP Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
